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Protect your property
One of the first things to do is find out what disasters could strike where you live. The following steps can help you reduce the physical destruction to your property if you were to be hit with a disaster. These steps can reduce your insurance costs, too.
a.)Install smoke detectors to warn of an apartment or home fire.
b.)Elevate utilities to upper floor or attic.
c.)Clear surrounding brush to protect your home against fires.
d.)Anchor your house to the foundation, and anchor the roof to the main frame.
e.)Secure objects that could fall and cause damage in a tornado, such as a bookcase or hot water heater.
f.)Cover windows, turn off utilities, or move possessions to a safer location if you have adequate warning of something like a flood.
g.)If your home is in a high risk flood area, on a fault line, consider relocating.
h.)Have your house inspected by a building inspector or architect to find out what structural improvements could prevent or reduce major damage from disasters.
i.)If you haven't yet bought a house, you might take construction type into account. Frame houses tend to withstand some disasters, while brick homes hold up better in others.
If you're not sure where to start, you could contact your local fire department. Fire departments will often make house calls to evaluate your property and make suggestions on how to improve safety.
Conduct a household inventory
a.)Help you prove the value of what you owned if those possessions are damaged or destroyed.
b.)Make it more likely you'll receive a fast, fair payment from your insurance company for your losses.
c.)Provide documentation for tax deductions you claim for your losses.
To conduct a thorough home inventory:
01.)Record the location of the originals of all important financial and family documents, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies, and stock and bond certificates. Keep the originals in a safe place and store copies elsewhere. You'll need accessible records for tax and insurance purposes.
02.)Make a visual or written record of your possessions. If you don't own a camera or videotaping equipment (and can't borrow or rent it), buy an inventory booklet and fill it out, or make a simple list on notebook paper. Ask your insurance agent if he or she can provide one.
03.)Go from room to room. Describe each item, when you bought it, and how much it cost. If you're photographing or videotaping, have someone open closet doors and hold up items.
04.)Record model and serial numbers.
05.)Include less expensive items, such as bath towels and clothes. Their costs add up if you have to replace them.
06.)Be sure you include items in your attic, basement, and garage.
07.)Note the quality of building materials, particularly for such furnishings as oak doors or expensive plumbing fixtures
08.)Photograph the exterior of your home. Include the landscaping--that big tree in the front yard may not be insurable, but it does increase the value of your property for tax purposes. Make special note of any improvements, such as a patio, fencing, or outbuildings.
09.)Photograph cars, boats, and recreational vehicles.
10.)Make copies of receipts and canceled checks for more valuable items.
11.)Get professional appraisals of jewelry, collectibles, artwork, or other items that are difficult to value. Update the appraisals every two to three years
12.)Update your inventory list annually.
Sound like too much work? Computer software programs designed for such purposes can make the task much easier. These programs are readily available in local computer stores.
Most important, once you have completed your inventory, leave a copy with relatives or friends, or in a safe deposit box. Don't leave your only copy at home, where it might be destroyed.
Buy insurance
Even with adequate time to prepare for a disaster, you still may suffer significant, unavoidable damage to your property. That's when insurance for renters or homeowners can be a big help. Yet, many people affected by recent disasters have been underinsured-or worse-not insured at all. Homeowners insurance doesn't cover floods and some other major disasters. Make sure you buy the insurance you need to protect against the perils you face.
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