Are You Financially Prepared For a Natural Disaster?

Natural disasters such as hurricanes can causeyour homeowner's insurance premium. According to
devastating damage. Hurricane season recently beganthe Insurance Information Institute (III), it is a good idea to
on June 1 and runs through November 30. Experts atmake sure you have enough insurance to rebuild your
the NOAA Climate Predication Center are projecting ahome and replace all of your personal belongings. You
65% chance that the Atlantic hurricane season will bemay also want to consult your insurance company
above normal this year. AIR Worldwide Corporation, aabout Additional Living Expenses (ALE) coverage,
leading risk modeling company that helps clientswhich pays for the additional costs of living away from
manage the financial impact of catastrophes andhome such as hotel bills and restaurant meals while
weather, report that hurricanes and earthquakes haveyour house is being repaired or rebuilt.
the potential to cause approximately $500 billion ofFires may affect any home, so installing smoke
total economic losses. Although it may not be possibledetectors may be a good idea. The American Red
to completely protect yourself from the wrath ofCross recommends that you contact your local fire
mother nature, below are some precautions anddepartment to see if they make free house calls. In
valuable information that may help you recoup asome cities, a fireman may visit your home to evaluate
portion of your loses if you are a victim of a naturalyour property and make fire safety suggestions.
disaster.Plan ahead. Visit ready, the official web site of the U.S.
Consider flood insurance. According to the FederalDepartment of Homeland Security (DHS), for a
Emergency Management Agency (FEMA), flooding isprintable emergency supply list. In addition to items like
the number one natural hazard. Many people have theprescriptions and non-perishable food, USHS also
misconception that their homeowners insurance willrecommends that you include copies of insurance
cover flood damage; however, it does not. In fact,polices and bank account records in a waterproof
FEMA indicates that only 25 percent of the 10 millioncontainer. Although you may be on a budget, you may
homes that lie within high flood risk zones carry floodconsider keeping a small amount of cash on hand or a
insurance. In order to obtain flood insurance, you mustsmall roll of quarters in case phone lines are down and
live in one of the 20,000 communities that participatesyou have to use the pay phone. For insurance
in the National Flood Insurance Program (NFIP), areasons, you may also want to make a list of your
component of FEMA that handles flood insurance,valuables. The Insurance Information Institute also
floodplain management, and flood hazard mapping. Forrecommends consumers visit the site knowyourstuff
useful information about flood insurance, visitto download free home inventory software.
floodsmart , the official web site of NFIP. Use thisBe aware of assistance programs. FEMA offers
resource to determine your area's flood risk, estimatemany assistance programs to those affected by
your premium, and helpful FAQ's concerning flooddisasters. Visit fema.gov and click on the "Apply for
insurance.Assistance" link to familiarize yourself with the
Prepare your home for a disaster. Depending on whichprocedures. Depending on the type of emergency
disaster is more likely to strike in your geographicalsituation, you may qualify for a number of their
area, take steps to reduce the risk of damage. Forprograms including Disaster Legal Services, Disaster
example, if you live in an area that is prone toUnemployment Assistance Program, and the
hurricanes, install hurricane shutters on your windows. InEmergency Food and Shelter Program. Your local
regions that experience earthquakes, secure objectsbranch of the American Red Cross may also provide
like bookcases that could easily fall. You may alsoyou with basic needs such as food and clothing
want to consult a building inspector for suggestions onimmediately following a disaster. Visit redcross for
home repairs that could prepare your home for amore information.
disaster. Certain home improvements may also lower