Financial Plan for Natural Disaster

!: Financial Plan for Natural Disaster

denisewinston.com Denise Winston talks about how to financially prepare for a natural disaster. Kern County is close to the active San Andreas Fault line and also sits in the shadow of the Lake Isabella Dam flood plain. Preparing for natural disaster is important especially as we watch the Japan crisis. Review Insurance Policies -First we must review our insurance policies and ensure we know what is covered and what is not. Generally earthquake and flood policies are stand-alone products and must be purchased separately. Emergency File -- It is very smart to establish a grab-and-go emergency file that contains the following: cash (small bills -- ones, fives and tens because ATM and credit card machines may not be working), copies of insurance contact information and key personal contacts (phone lines may be down for several days), photo copies of identification and passports. Store emergency file in a fireproof and waterproof safe. You can pick one up for around 50 bucks. Emergency Fund -- This is the true meaning of an emergency fund, it will be used to cover insurance deductibles, evacuation expenses and extended living costs. (place a spare envelope in your emergency file to capture receipts if you are able to submit them to the insurance company) Inventory -- This is probably the easiest step because of technology; today just about everyone has a video camera (cell phone, flip or regular camera). Simply walk around your home inside and out moving very slowly, remember ...

Financial Plan for Natural Disaster

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