Over the past decade we have seen some of the most devastating natural disasters in history. From Hurricane Katrina to record numbers of tornadoes to flash floods to forest fires, it seems like there is no place that is risk free. Because we never know when a natural disaster will strike, it is best to make sure you have all of your financial information (especially assets) properly recorded and insured. Here are a few things you can do to help get organized to make it easier to get back on your feet.
– Take inventory of everything your own. This means not only what is inside your house and stored in the bank, but what is in your car, storage units, even the shed. If you have anything of value, make sure you have it recorded. PIMYU has tab that will help you properly organize your locations (free of charge) so that if the unthinkable happens you can at least report comprehensive claims for what you lost.
– Get insurance. Yes, it is an extra expense, but if something happens it is better to be covered than to be out of luck. We all have car insurance (it’s mandatory), but what we have in our homes is nearly everything we own.
– Regularly report your assets to your insurance company. The first time you take inventory of everything you own, you are probably going to be pretty burnt out on labeling all of your stuff and trying to determine its worth. On the plus side, this is the only time when it is going to take you hours to do this particular chore. If you keep your information updated every time you make a major purchase, you probably won’t even notice how much time you spend. Otherwise, make sure to go in and update your inventory at least every six months. Even that should take less than an hour for most of us.
Of course there are some things that are sentimental, meaning no price will ever make up for their loss. It might be best to store those somewhere safe. For everything else, insurance should help you recover and start to rebuild your life.