On Day 8 of our Let’s Get Prepared! Challenge, we’re focusing on the administrative side of having a plan: Making sure things are documented and insured.
There are several steps you can take to get your knowledge in stronger shape, and your records in order, so that they’re there when you need them to be.
- Understand your home insurance. Know your plan, and talk to a broker to help understand what risks you may be exposed to. Do you have insurance for the dwelling and your possessions? Do you have insurance that covers a current cost for rebuilding or repair? Does your plan cover possessions for Actual Cash Value (which allows for depreciation) or Replacement Value? What are your exclusions? Also, check on your deductible: Does it still make sense for you today? Does it need to be moved up or down?
- Create a Home Inventory. There are some great apps and systems out there that can help with this (HomeZada, which is an elaborate home management system, too, comes to mind, but there are apps like Encircle that are free and easy to use, and your insurance company may offer one, too.) You can also go old school with pen and paper. I like this version from the National Association of Insurance Commissioners.
- Take pictures. Take pictures of your home, inside and out, and of your valuables. The best way to prove what you had and the conditions of what you owned is with photographic evidence.
- Store copies away from home. Keep a copy of your insurance policy (including contact information for your broker or insurance company), your home inventory and your photos away from your you home, just in case. The cloud is one option, as long as the cloud is something that is accessible when you need it. Physical copies somewhere else (with a family member in another state, perhaps?) is a good back up.
What about flood insurance? With the recent floods in Baton Rouge, a lot of attention had been on the fact that many people did not have flood insurance. since they didn’t live in a flood zone. FEMA has a lot of information about flood insurance here, so you might spend some time reading up on it.
Take on at least 1 step of the list above. The easy ones might be the inventory and photo steps, and the “know your insurance” one might be something that needs more focus time, maybe even a call to your broker. Determine how you will make that act a priority.
Join in the conversation over at the Clever Girl Organizing Challenge Facebook Group to learn from and to teach others as we all take on the Let’s Get Prepared! Challenge!
Reminder: Our goal here is to take steps towards improvement. The content in these posts is designed to inspire thinking, not fear.