Home safes vs. safe deposit boxes

Many Americans spring for a safe deposit box to keep their cash and other valuables safe in banks, but experts suggest using a fireproof safe at home as opposed to deposit boxes, which usually aren't insured.

Banks are thought to be safe since they provide 24-hour security, but cash and other personal items usually kept in safety deposit boxes are not covered under FDIC insurance. FDIC insurance only protects the deposits in accounts held in banks and not safety deposit boxes.

MoneyWatch recently released a list of 12 things to keep in a safe at home and not in a bank.

The source suggested keeping property insurance polices, agent contact information, passports, original birth certificates and a list of family doctors, prescription medication and contact information for all pharmacies the homeowner uses in a home safe. In addition, digital family photos, safe deposit box keys, original Social Security cards, spare keys, valuables and copies of wills are also encouraged to be included in a fireproof safe.

With all of the valuables encouraged to be left at home, a dependable wireless alarm system or traditional security system are great ways to take extra precaution to keep crucial documents and personal mementos safe. According to the Metropolitan Burglar and Fire Alarm Association of New York, a burglary is committed every 10 seconds in America, which might concern homeowners and encourage them to explore home security systems.

This article is brought to you by Protect America - the leading distributor of state-of-the-art GE Wireless Home Security Systems. Protect America protects homes across the US from intrusion, theft, fire, flooding, medical emergencies and more with 24/7 Cellular, Broadband and Landline Monitoring and cutting edge technology.

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