Tag: #emergencyprep
Creating a financial Grab-and-Go kit — what to include?
Not sure what to include in your financial grab-and-go kit? These items are a good start.
• Identification and other key documents that may be needed to restore your financial records, including copies of your driver’s license, passports, social security cards
• Insurance cards, policies, or other proof of insurance coverage
• Household inventory
• Immunization records
• Bank account numbers, cash
• Copies (front and back) of ATM, debit, and credit cards
• Phone numbers and account information for all financial service and insurance providers
• Important telephone numbers (family members, doctors, veterinarians)
• Names and prescription numbers for medications
• Safe deposit box key
• Pocket notebook and pen or pencil
If the following items are not kept in a safe deposit box, these should also be kept in your grab-and-go box. It is a good idea to make copies of safe deposit box contents in case the originals are damaged by water.
• Family records (birth, marriage, death certificates)
• Will, contracts, deeds, stocks, and bonds
• Titles to vehicles
Words for Wednesday
One of the challenges for this week is to review your auto and homeowner’s/renter’s insurance. Insurance terminology can be confusing so here are few key terms to know.
Premium — the price an insurer charges a policyholder for insurance.
Insurance policy — a contract between an insured and an insurer in which the insured agrees to pay a premium in return for the insurer’s promise to pay for certain covered losses during the policy period.
Exclusion — a potential loss that is expressly excluded from coverage by an insurance policy.
Rider — addendum to an insurance policy that requires payment of additional premium in return for additional specified insurance coverage.
Deductible — the amount of loss that must be paid by an insured before the insurance company will pay any insurance benefit.
As you review your policies, make a note of what disasters are covered as well as any types of disasters that you are not insured for. Learn more about reviewing your insurance coverage in Get Financially Prepared: Take Steps Ahead of Disaster
Definitions from: Bajtelsmit, V. (2006). Personal Finance: Skills for Life. Hoboken, NJ: Jonh Wiley & Sons, Inc.
Words for Wednesday
One of the Prepare Kansas challenge tasks for this week is to review the meaning of Watch and Warning as related to weather situations.
According to the National Weather Service, “a watch is used when the risk of a hazardous weather or hydrologic event has increased significantly, but its occurrence, location, and/or timing is still uncertain. It is intended to provide enough lead time so that those who need to set their plans in motion can do so.”
A warning “is issued when a hazardous weather or hydrologic event is occurring, is imminent, or has a very high probability of occurring. A warning is used for conditions posing a threat to life or property.”
Learn more about weather terms used by the National Weather Service at http://www.nws.noaa.gov/glossary/
Learn more about how to stay safe in a variety of weather related hazards at http://www.weather.gov/safety
