A little planning now can help you handle a natural disaster or other emergency.
Their need to be prepared in case there is an emergency is what many Americans are focused on. But there are very few of them who consider financial preparedness in their plans. Whether you are keeping an evacuation box with important documents to setting up an account with emergency fund, if you prepare now, this can be the difference between financial security and financial crisis.
Below are simple tips from financial experts at Union Bank of California and they can help anyone prepare financially for a natural disaster:
Conduct a Household Inventory
Not only should you locate originals of important financial and family documents, you should also create household inventory for items of significant value. Photocopies should be stored in a safe place while the original documents are stored in waterproof bags in a safe deposit box or durable "evacuation box." In order to back up key documents on your computer, you can use a CD to back it up. Storing copies with friends or relatives who live outside the area is the practical thing to do.
Know Your Insurance Policies
Make sure you know the types of losses your renters or homeowners insurance covers. Don't forget to ask your insurance agent or financial planner about additional coverage for floods, earthquakes, big-ticket items, and home offices. Keep copies of your policies in a safe place along with your other important papers.
Keeping Cash Accessible
At least $3,000 in cash should be kept at home in a place where you can get it quickly in case there is an evacuation. It's important that the money should be in small denominations for easier use.
Create and Maintain a List of Emergency Contacts
Keep a list of important emergency contacts, including direct family members, doctors, medical facilities, numbers for your bank, insurance agent and company, lawyer and financial planner/advisor. Helping you to quickly retrieve account information are credit card 1-800 numbers.
An Emergency Savings Account Should be Kept
This account should be separate from any other account and contain enough money to cover at least three to six months of living expenses.
Their need to be prepared in case there is an emergency is what many Americans are focused on. But there are very few of them who consider financial preparedness in their plans. Whether you are keeping an evacuation box with important documents to setting up an account with emergency fund, if you prepare now, this can be the difference between financial security and financial crisis.
Below are simple tips from financial experts at Union Bank of California and they can help anyone prepare financially for a natural disaster:
Conduct a Household Inventory
Not only should you locate originals of important financial and family documents, you should also create household inventory for items of significant value. Photocopies should be stored in a safe place while the original documents are stored in waterproof bags in a safe deposit box or durable "evacuation box." In order to back up key documents on your computer, you can use a CD to back it up. Storing copies with friends or relatives who live outside the area is the practical thing to do.
Know Your Insurance Policies
Make sure you know the types of losses your renters or homeowners insurance covers. Don't forget to ask your insurance agent or financial planner about additional coverage for floods, earthquakes, big-ticket items, and home offices. Keep copies of your policies in a safe place along with your other important papers.
Keeping Cash Accessible
At least $3,000 in cash should be kept at home in a place where you can get it quickly in case there is an evacuation. It's important that the money should be in small denominations for easier use.
Create and Maintain a List of Emergency Contacts
Keep a list of important emergency contacts, including direct family members, doctors, medical facilities, numbers for your bank, insurance agent and company, lawyer and financial planner/advisor. Helping you to quickly retrieve account information are credit card 1-800 numbers.
An Emergency Savings Account Should be Kept
This account should be separate from any other account and contain enough money to cover at least three to six months of living expenses.
About the Author:
No matter what type of injury you've suffered, start your claim with a leading national personal injury claims service.
No comments:
Post a Comment