Vital Documents - The True Cost Of Loss

Contributed by the European Commission, 24 February, 2015

Losing or just misplacing your Vital Documents is a stress and expense that can be hard to calculate in just monetary terms.  It is also a loss that is not generally discovered until such a time as the documents are needed – and bear in mind that they are usually needed in a hurry.

Ever been looking for your passport the night before you fly and cannot find it?

You know how it is when you need to open a new bank account and you ask... where is my birth certificate?

Then there is the scenario of your elderly relatives who are getting more forgetful as they get older.  One day you need their deeds/will/insurance certificates and you have to start hunting.

Personal documents are vital documents and we should all take good care to make sure that they not only are stored in a safe place but that both we and our next of kin also know exactly where these are stored.

What Vital Documents Do We Have?

So, lets just take a quick look at the type of documents we need to store safely.

  • Certificates such as birth and marriage will be needed by banks and insurance companies.  They will also be required if you decide to go and work or live abroad.  To replace a single one of these will cost you £24.95.
  • House deeds are usually stored by your mortgage provider, until the mortgage has been paid.  After the debt has been cleared it may be that you can store these with the bank for a yearly fee.  Otherwise you store them yourselves.  If  the deeds get lost, stolen or damaged you first need to contact the land registry.
  • Lasting power of attorney documents.  For those who have filled out these forms you will appreciate just how lengthy they are and how long it took you to complete this.  The cost will have been over £100 to register them and if you had a solicitor prepare them for you then this will have increased the costs considerably.
  • Wills prepared by a solicitor or will writer can cost up to £100.  If the person whose will it is no longer has mental capacity to make another and the original has been damaged without a copy having been made – oh dear.  Storing a will safely is very important to help avoid all manner of family tensions later.
  • Educational certificates such as degrees, diplomas, professional qualifications all may be needed when applying for new jobs.  They will certainly be needed if you decide to go and work abroad and in this case will need legalizing here in the UK.  This means that you will need to contact a company such as Vital Legalisation to assist you.
  • Insurance documents and policies are all documents that will need producing at some time and all need to be held somewhere safe.
  • Remember that if there are several family members then there will be several birth certificates and more than likely more than 1 will, lasting power of attorney, certificates etc.  The more family members there are the more potential for greater loss.

Innovative Storage Solution For All Vital Documents

This is by no means an exhaustive list of important vital documents but it does give some idea of the type of documents that do need to be held somewhere accessible and very safe.

Vital Documents have the answer to this potential problem with their unique vaulted storage service.  By storing documents in their fire proof, police monitored former bank vault clients can relax knowing that the whole family’s documents are in one safe and secure place. 

It means that everyone knows exactly where all vital documents are. 

It means that when any one document is required that anyone can retrieve it. 

It will also mean that they are all safe from being destroyed by fire, flood and theft. 

Not only that because Vital Documents provide an electronic copy of all documents held by them it means that there is 24/7 access to these at all times meaning that you no longer have to worry about where these vital documents are.

Vital Documents are personal document storage specialists for UK expats and UK residents.

Tags: Education | Passports & Visas | Other | Education | Insurance |