Spring tornado season is here and with the approach of hurricane season on June 1st, it is once again time to prepare in case of a disaster. Insurance should be a part of any such preparations. Here is how insurance should be a part of your disaster plan.
- Make sure you have an updated household inventory. Your inventory should contain every personal possession you own and its value.
- Make sure you keep a copy of your home inventory and other important papers off-site.
- Check with your agent to determine whether your homeowner’s policy allows for replacement value or actual cash value. Cash value will pay you based on the depreciated value of your items, replacement value will provide funds to buy new items.
- Homeowner’s insurance does not cover flooding. You will need special flood insurance for that. Ask your agent about flood insurance.
Making preparations with your insurance now can make any post-disaster recovery that much easier.