Prepare Kansas

Tag: household inventory

It is Always a Good Day to #GetPrepared

The 2018 K-State Research and Extension #PrepareKansas challenge has concluded. Did you #GetPrepared? It is never too late to take actions to prepare ahead of an emergency or disaster. Click the links below for information you and your family can use to #PrepareNow.

“Check Your Insurance Coverage” was the theme for Week 3. Challenge tasks include:

“Save for an Emergency” was the theme for Week 4. Challenge tasks include:

When it comes to emergency savings, only about half of all Americans have an emergency fund. This gives them the money needed to help with increased expenses after a disaster. What will you do if there is a disaster? To get started, consider setting aside a small amount from each paycheck to go into a savings account. Small amounts do add up over time! Go a step further and take the Kansas Saves pledge and start saving automatically.

Disasters happen. Time spent planning, preparing, and practicing now can to help you and your family after a disaster strikes. Click here for the complete list of this year’s challenge tasks.

Be money smart: Get financially prepared ahead of disasters

It is spring storm season and there have already been several tornadoes across the country. Are you prepared to take action if you are in the path of a tornado?

Get financially prepared ahead of disasters with a household inventory, up to date insurance coverage, and a grab-and-go box. Not sure where to start? This publication from K-State Research and Extension guides you through the steps you need to take, before and after a tornado or other emergency.

Don’t forget attics, basements, and garages!

Home Insurance by Matt Scribner from The Noun Project

 

Creating a household inventory can be a daunting task. In addition to the rooms of our homes where we spend the most time — kitchen, dining room, family room, living room, and bedrooms — many of us have attics, basements, and garages filled with family treasures, household files, and tools.

 

 

Flood by Patrick Morrison from The Noun Project

 

In addition to being a record of all possessions accumulated over the years, a household inventory is critical to getting insurance claims settled quickly after a disaster. It can also be used to verify losses for income tax returns.

 

 

Fire by Abigail Cramer from The Noun Project

 

A complete and up to date household inventory is the basis for buying the appropriate amount of insurance coverage. The relationship between updating your household inventory and maintaining appropriate insurance coverage means that regularly reviewing your insurance coverage goes hand-in-hand with updating your household inventory.

Some important things to know about your policy:

Is your home and its contents insured for at least 80 percent of its replacement cost, rather than depreciated value? If not, insurance will not cover the full cost of rebuilding after an insured loss.

What disasters are covered? While the exact coverage will vary from policy to policy, a standard policy covers fire, lightning, windstorms, hail, freezing of plumbing or pipes, damage from weight of ice, and volcanic eruptions (with exceptions).

What disasters are not covered? Your policy will also spell out the disasters you are not insured against. Depending on your geography, as well as your insurance carrier, common exclusions are earth movement, flooding, and sewer back-up.