Financial Preparedness
Disaster preparedness involves more than just storing water and gathering supplies, you also need to be financially prepared. Starting now will help you get back on your feet faster after a disaster, such as a flood. Make sure you have proper insurance coverage, and a way to access important records and accounts. Here are some tips on getting financially prepared from Ready.gov:
1. Compile Important Documents - Create an Emergency Financial First Aid Kit (EFFAK). This kit includes 4 sections of documents: household identification, financial and legal documentation, medical information, and household contacts. You can download the checklists at Ready.gov.
2. Review Your Insurance - If you own your own home, you'll want to make sure your homeowner's policy is up-to-date. Also, be sure that you know everything that is or isn't covered under your policy. Most of the time you will need a separate policy to cover flooding. If you rent, you'll want to make sure your lease reflects your current rent and that your renter's insurance is up to date. You should also consider setting up a will, living will, life insurance policy and health insurance plan if you haven't already done so.
3. Store Files in a Safe Location - You'll want to store both paper copies and electronic copies of all your important documents in safe locations. Consider storing them in both a fireproof and waterproof safe, in a bank safe deposit box, or with a trusted friend or relative. If you choose to use a safe deposit box, make sure you know who will be able to access it if something happens to you. If you bank or pay your bills electronically, you should periodically print your account records to store with the other documents. If you have a lawyer or financial advisor, consider giving them a sealed envelope with all your documents as well.
4. Update Files Periodically - It's important to get this stuff together now, as you never know when an emergency will occur. However, it could be years before anything happens and for that reason you need to update your documents on a regular basis. Suggestions for a routine review of your documents could be during tax time, day light savings time, around your birthday or at the start of a new year. Be sure to update it when any of the following events happen as well: change in insurance providers, moving to a new residence, opening or closing bank accounts, change in marital status, birth of a child and during retirement planning.
Let's take a look at each of the documents/informaiton to be included in your kit. Please note that not all of the documents/information will be necessary for everyone's situation.
Household Identification
Medical Information
4 Steps to Financial Preparedness
1. Compile Important Documents - Create an Emergency Financial First Aid Kit (EFFAK). This kit includes 4 sections of documents: household identification, financial and legal documentation, medical information, and household contacts. You can download the checklists at Ready.gov.
2. Review Your Insurance - If you own your own home, you'll want to make sure your homeowner's policy is up-to-date. Also, be sure that you know everything that is or isn't covered under your policy. Most of the time you will need a separate policy to cover flooding. If you rent, you'll want to make sure your lease reflects your current rent and that your renter's insurance is up to date. You should also consider setting up a will, living will, life insurance policy and health insurance plan if you haven't already done so.
3. Store Files in a Safe Location - You'll want to store both paper copies and electronic copies of all your important documents in safe locations. Consider storing them in both a fireproof and waterproof safe, in a bank safe deposit box, or with a trusted friend or relative. If you choose to use a safe deposit box, make sure you know who will be able to access it if something happens to you. If you bank or pay your bills electronically, you should periodically print your account records to store with the other documents. If you have a lawyer or financial advisor, consider giving them a sealed envelope with all your documents as well.
4. Update Files Periodically - It's important to get this stuff together now, as you never know when an emergency will occur. However, it could be years before anything happens and for that reason you need to update your documents on a regular basis. Suggestions for a routine review of your documents could be during tax time, day light savings time, around your birthday or at the start of a new year. Be sure to update it when any of the following events happen as well: change in insurance providers, moving to a new residence, opening or closing bank accounts, change in marital status, birth of a child and during retirement planning.
Emergency Financial First Aid Kit (EFFAK)
Let's take a look at each of the documents/informaiton to be included in your kit. Please note that not all of the documents/information will be necessary for everyone's situation.
- Driver's License
- Birth Certificate/Adoption Papers/Custody Agreements
- Marriage/Divorce License
- Social Security Cards
- Child Identity Cards/Dental Records/DNA Swabs
- Passport/Green Card
- Naturalization Documents
- Military ID/Military Discharge Record
- Pet ID Tags/Microchip Information
Financial and Legal Documentation
- Lease/Rental Agreement
- Mortage or Real Estate Deeds of Trust
- Second Mortgage/Private Mortgage Insurance
- Home Equity Line of Credit
- Utility Bills
- Vehicle Loans
- Student Loans
- Credit Cards
- Alimony Payments
- Child Support Payments
- Eldercare Facilities
- Automatic Payments
- Bank Statements
- Retirement Accounts
- Investment Accounts
- Vehicle Registrations
- Property/Homeowners/Renters Insurance
- Home Inventory with Photos
- Auto Insurance
- Life Insurance
- Appraisals
- Pay Stubs for Income
- Government Benefits
- Rewards Accounts
- Previous Year's Tax Return
- Property Tax Statements
- Will/Trust
- Powers of Attorney
- Physician
- Pediatrician
- Medical Specialist
- Health Insurance Cards
- Pharmacy Card
- Medicare/Medicaid Cards
- Record of Immunizations/Allergies
- Caregiver Agency Contract
- List of Regular Medications
- Current Prescriptions (including Glasses)
- Model, Serial Numbers & Supplies for Medical Equipment (such as pacemakers, feeding pumps, home IV units, etc.)
- Disabilities Documentation
- Living Will/Power of Attorney
- Veteranarian Contact
- Pet Immunization Records
- Current Pet Prescriptions
Household Contacts
- Landlord/Mortgage Representative
- Doctor/Dentist/Other Healthcare Providers
- Insurance Agent
- Person In Charge of Military Benefits
- Social Services Representative
- Local Disability Service Provider
- Medical Equipment Provider
- Lawyer
- Financial Advisor
- Banking Institutions
- Neighborhood, Civic, and House of Worship Contacts
- Household Service Providers
Flood Preparedness
Being financially prepared and physically prepared go hand in hand. Big Bags USA® is here to help with all your flood protection needs. Our protective flood barriers provide lightening fast flood protection at a fraction of the cost. Why waste the time and money on traditional sandbags when you can invest in the simple Big Bags USA® flood barrier system to use year after year? Contact us at 800-337-0537 for more information!
If you have an immediate need for our systems, or have any questions for us, please Call us Toll Free at 1-800-337-0537 or visit www.BigBagsUSA.com.
If you have an immediate need for our systems, or have any questions for us, please Call us Toll Free at 1-800-337-0537 or visit www.BigBagsUSA.com.
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