Be Prepared for the Unexpected!

By Jane Henderson, M.Ed.

Do You Know Where Your Insurance Papers Are?

Life situations can change in an instant. Storms, fires, and other natural disasters can damage or destroy your home. Being prepared can minimize the impact and avoid some of the stress that can come with unexpected emergencies. Below are some steps to follow when organizing your papers and communicating with trusted individuals about the location of these documents:

• Delegate a responsible person to handle your affairs if you are not able. Prepare a will, a living will, and a durable power of attorney to decrease the burden on your family should they have to make decisions on your behalf.
• Prepare a file of important documents. Keep the originals in a safe place and a copy in a separate location, in case the originals are damaged or destroyed. Store in a safe-deposit box or a portable fire safe box, or scan the items into a computer and save a copy on a portable storage device.

What information do I need to keep?

• Sales receipts, contracts, pictures of valuables, warranties, and other items needed when reporting an insurance claim.
• List of credit card numbers with the necessary contact information, so lost or stolen cards can be reported quickly.
• Bank statements, cancelled checks, and tax records in case you need to establish your credit history or declare your assets for accessing funds while insurance claims are in process.
• Mortgage papers, family birth certificates, insurance policies, and rental agreements.

Family members or the person designated to handle your financial affairs in the case of injury or death must know where to find these important papers. They should also have contact information for your lawyer, insurance agent, financial advisor, primary doctor, or dentist who could provide helpful advice in time of emergency. (See Clip and Save for further information.)

Jane Henderson is a Family and Consumer Sciences Extension agent serving Amelia County.