Put financials in box you can grab and goBy Sandra Block, USA TODAYThe colossal evacuation that emptied Houston last month probably won't be the last time coastal residents are forced to head for higher ground. Experts are predicting an increase in Atlantic Ocean hurricanes over the next 10 to 20 years.
And hurricanes aren't the only threat to lives and property. Last week, brush fires forced homeowners in several communities in Los Angeles and Ventura counties to evacuate.
The Red Cross recommends preparing a personal disaster and evacuation plan. Along with supplies of food, water and medications, you should also pack important financial documents. If a hurricane leaves you homeless, these documents and records will make it easier to apply for benefits, relocate or rebuild.
• If family members are separated, photos will make it easier for rescue agencies and law enforcement authorities to locate missing relatives, says Evelyn Zohlen, financial planner at Inspired Financial in Garden Grove, Calif. Include photos of your pets, too.
• If you're forced to relocate, you may need these documents in a job hunt. Transcripts will help establish professional credentials, such as a medical or law degree.
• You should also pack documents detailing health conditions your children have, such as asthma or allergies. Immunization records are critical because most schools won't accept children without them, Zohlen says. Report cards and test records also may make it easier to place your children in a new school, she says.
Originals of legal documents such as birth certificates and marriage licenses should be stored in a secure place, such as a bank safe-deposit box, Zohlen says. The contents of safe-deposit boxes aren't federally insured, and there's always the risk that the bank will be leveled, too. But "a bank vault is pretty darn impervious," Zohlen says. "Even if the floodwaters rise, most of them are pretty well secured."
Of course, a safe-deposit box is useless if you can't open it. Make sure your evacuation kit includes a key to your box and proof of ownership.
Many homeowners videotape the contents of each room in their homes so they can document what they own. But in an evacuation, a videotape may be too cumbersome to pack, says Madelyn Flannagan, vice president of education and research for the Independent Insurance Agents & Brokers of America.
"You want something that's very portable that you can reach and grab," she says. She suggests making a list of items in each room and updating it every six months. Many insurance agents provide kits for this.
If your home is leveled, you'll need proof you own the property to file an insurance claim. You may be able to get copies of mortgage documents from your lender or the county courthouse. But Hurricane Katrina demonstrated the risks of relying on your lender or local government, says Jim Nabors, president of the National Association of Mortgage Brokers. The same hurricane that wiped out your home could flatten your lender's office and the country courthouse, he says. Not all local governments have backed up their public records electronically, Nabors says.
• The declarations page usually includes the insurance company's name and contact information and the amount of your deductible. As long as you have that, you don't need to pack the entire policy, Flannagan says.
• If your lender's computer system is disrupted, you may need the statements to prove you've made payments on your mortgage, Nabors says.
Paying your bills may be the last thing on your mind when you're fleeing a hurricane. But even if you lose your home, you'll still be expected to pay your mortgage and other debts.
After Hurricane Katrina, many lenders allowed victims to postpone payments and waived late fees. But to qualify for debt relief, you'll need to contact your lenders and explain your situation.
Instead of cramming your bank and account statements into a folder, include a copy of your credit report in your evacuation kit, Zohlen says. Your credit report will list account numbers, names and addresses for all your credit cards and other lenders.
Everyone is entitled to a free report from each of the three credit-reporting agencies once a year. You can order your reports at www.annualcreditreport.com.
Zohlen also recommends setting up online accounts for banks, credit cards, investments and other financial transactions. As long as you have your account numbers and passwords, you can access those accounts wherever there's an Internet connection.
If you have access to a scanner, you can burn many of your financial documents on a CD, which makes them easier to transport. Alternatively, store the paper documents in a fireproof box or plastic accordion file. Whatever you use, make sure it's light enough to carry if you have to flee.
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