Emergencies Can Strike Without Warning – Are You Financially Prepared?

Emergencies Can Strike Without Warning – Are You Financially Prepared?

Develop Emergency Savings
Keep an emergency savings account for events like natural disasters. Consider keeping a small amount
of cash in a safe place at home for emergency purchases in case ATMs and credit cards do not work
during or after a disaster.

Safeguard Your Records
When a natural disaster or other emergency strikes, the primary focus is personal safety. However, once
the threat of harm has passed, accessing digital copies of financial and legal documents will be very
important to initiate the recovery process. Examples of documents to keep handy include proof of identity,
bank and credit union accounts, proof of ownership of your home, insurance and medical records and
records for your pets.

Review Your Insurance
Make sure you understand your insurance and reassess the need and coverage. Conducting a household
inventory is a great way of record-keeping your assets and possessions prior to seeking or reassessing
property insurance. It helps adequately protect what you own and can become proof of possession in the
event of an emergency or disaster. Keeping a photographic record and receipts, along with a household
inventory, can help determine ownership and value of the property during an insurance claim process.