We’re all too used to seeing fires, floods, earthquakes and other natural disasters in the news. But have you ever thought about what you’d do if something similar happened to you? What would you do if your home and all your possessions were severely damaged or destroyed?
Loss of Personal Information
In a natural disaster, losing your house is probably your biggest concern because it’s one of your most valuable assets. But you could also lose some of your personal documents, which would need to be replaced. While you can’t avoid these kinds of catastrophes, you can take steps to limit your losses.
How to protect and minimize risks
- Make a backup copy of all your documents and keep them safe in a second location.
- Get a fire-proof safe.
- Rent a safety-deposit box at a bank for your really important documents (e.g. will or power of attorney).
- Make a list of all your financial documents and keep this list in a secure place.
Recovering Personal Documents
Despite all your precautions, you may still have lost some personal documents and pieces of identification that you now need to cancel and replace. This can be a long, time-consuming process.