The earthquake that struck Alaska involved prolonged shaking and it is said to have prompted tsunami warnings, thereby sending people scrambling for shelter. Alaska residents reported only minor damage. However, that is why it is essential to earthquake-proof your finances.<\/p>\n\n\n\n
The earthquake was a reminder that the \u201cBig One\u201d can strike at any moment. And rather than remaining woefully unprepared for the potential financial fallout from such a disaster, here\u2019s how you be financially ready for an earthquake.<\/p>\n\n\n\n
Be financially aware of how much potential damages can cost you. Then review your insurance policies. Make sure to find out about what they do and do not cover. Know the difference between replacement cost coverage and standard coverage. Because some policies only pay the cash value of an insured property.<\/p>\n\n\n\n
Ensure to have enough insurance to cover home renovations and improvements. If you live in earthquake-prone areas, consider policies such as earthquake insurance. Better to earthquake-proof your finances than lose it all.<\/p>\n\n\n\n
It can even be a cash or savings account. Let\u2019s be honest uncertainties hit when you\u2019re least expecting them. So, in case of an emergency or the sudden need to evacuate, be sure that there\u2019s enough cash or a traveler\u2019s checks in a safe place. This will come in handy since it is easily accessible in your hour of need. <\/p>\n\n\n\n
Also bear in mind that ATMs will not be available in the event of a disaster. Also, consider opening up an emergency savings account where you stash your cash. Another option to consider is having a designated credit card exclusively for emergency use. Meanwhile, here are some essential tips to tornado-proof your house<\/a>.<\/p>\n\n\n\n We couldn\u2019t stress over this more. Copies of financial and family documents should be stored in a safe place. Preferably one that is safe from fire and water. <\/p>\n\n\n\n Your documents can include automobile titles, tax records, stock and bond certificates, deeds, wills, trust agreements, birth and marriage certificates, photos, passports and insurance policies. It is safer to store originals in a rented safe deposit box.<\/p>\n\n\n\n For the sake of your insurance. Ensure to maintain both written and visual records of all your household items and valuables. Yes, even those stored in your basements, attics, or garages. <\/p>\n\n\n\n You can be as organized as Monica Geller and create files with serial numbers for every item. Store the receipts for your appliances, electronics and other valuables. Why? These documents are critically important while filing insurance claims.<\/p>\n\n\n\nProtect financial documents<\/h2>\n\n\n\n
Have a list of all your possessions<\/h2>\n\n\n\n