Storing your jewellery in bank lockers guarantees you a secure repository that helps you keep your items safe, letting you sleep better at night. However, it’s paramount that you keep close documentation of your assets to protect your investment and ensure smooth access. With that said, this article will detail the importance of documentation and what you should include.
Why is documentation important?
Keeping records of your assets before you surrender them to bank lockers for jewellery is a testament to their condition, so it’s only proper that the next time you claim them, the items should remain the same. If not, it’s proof that your assets may be mishandled so you can use them for your insurance claims. Apart from that, here are the other reasons why it’s important to document it:
It will serve as proof of ownership. Given how there are instances of counterfeiting and even identity theft, showing you have detailed documentation of your jewelry can serve as proof of ownership. It comes in handy, especially in case of legal disputes.
When it comes to inheritance, your documentation can also smoothen the process of transferring jewellery ownership to your heirs.
It allows you to gain easy access. Since jewellery is considered a prized item, it cannot be easily accessed by just about anyone; they’d have to undergo thorough screening and verification. But if you have your documents at hand, then these detailed records are more than enough to speed up the process so you can retrieve your jewellery more easily.
What necessary documentation should I keep?
Now that you know the crucial role documentation plays, you should also start practicing it when it comes to your valuables. Here are a few things you should keep:
Purchase receipts. Keep the original receipts issued to you when you bought your jewellery. As an added precaution, scan them and store the digital copies as a backup in case you misplace or lose the original ones.
Photographs. Take pictures and videos of your jewellery from different angles, showcasing all of the sides and surfaces. It’s crucial to create a visual inventory of your collection as a backup, along with the receipts.
Appraisals. To ensure that your items are authentic, get them appraised by professional assessors, especially for valuable pieces of jewellery.
Inventory list. Apart from photographs, create an inventory list of each item, being as descriptive as possible. Note down the metal type if they’re precious metals or the gemstone type if they are gems. Note any of its unique markings if it has any, as well as its carat weight. Attach the serial numbers or hallmarks of the items along with the aforementioned so they can be identified easily.
Insurance policies. It’s crucial to store copies of your insurance policies in a safe and dry place. Take the time to read through and familiarize yourself with the claims process in case you need to take them out.
By keeping organized and comprehensive documentation, it will make it easier for you to access your items, as well as claim your inheritance and claims.