The last thing you want to worry about when you are trying to make a quick escape from your home in an emergency is trying to find all your important vital documents. Having them scattered willy-nilly about your home or even filed in several different places can make this process difficult (which you don't have the brain power for when there is an emergency) and time consuming (which you don't have time for in an emergency.) Vital records such as identification, health records, wills, trusts, marriage documents, birth certificates, passports, immunization records and insurance documents should be stored in some sort of grab and go file. This file can be as simple as an accordion file from your local office supply store to the fantastic Vital Records PortaVault organizing system. You will want to keep this portable records file in a place where you can easily grab it and make your escape. I recommend either under or near your bed, or if you live in an apartment near the front door.
If there are documents that can be copied or scanned (medical records, bank records, insurance documents, etc), I recommend keeping additional copies saved as a hard copy in a safe deposit box or alternate location (a sibling's home, for instance) or, if you feel safe doing so, in a secure location in the cloud such as Mozy, Carbonite, or Blis. The convenience of storing scanned copies of your documents in the cloud is that you can access these documents quickly and easily from another computer or even your smart phone.
Photo credit: Posterize