Create a Disaster Plan
Follow this step-by-step list to be as prepared as possible if an emergency strikes.
|Insurance||Review your homeowner's or renter's insurance policy to see what's covered. Talk to your agent about flood or earthquake insurance if either is a concern for your area and about whether you need umbrella insurance.|
|Inventory||Keep an updated video inventory of valuable household items in a safe place, such as a safe-deposit box, with an out-of-town relative, or in outside digital storage. Make sure to include any professional appraisals and replacement value estimates.|
|Documents||Keep copies of birth certificates, passports, wills, trust documents, records of home improvements, and insurance policies in a fireproof, waterproof "evacuation box" that you can grab in a hurry.|
|Backup||Consider scanning your important documents and storing them, along with a backup of your personal computer files, online or on a CD or a Zip drive that's kept in a safe place away from your home.|
|Cash||Keep petty cash on hand for emergencies. Local ATMs might be out of commission in the event of an emergency, so having enough cash on hand to get by for a few days is a good idea.|
|Providers||Check that others are prepared. Ask your financial providers what plans they have to cope with a natural disaster. For example, does your accountant keep important documents and records backed up and stored in a safe location?|
What you can do now:
- See how Schwab helps to keep you safe.
The information provided here is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager.
Brokerage and insurance products:
• Are not deposits
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• Are not insured by any federal government agency
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• May lose value
Charles Schwab & Co., Inc., a licensed insurance agency, distributes certain insurance and annuity contracts that are issued by insurance companies that are not affiliated with Schwab. Not all products are available in all states.