Natural disasters — such as floods, tornadoes, hurricanes, or fires — can strike with little or no warning. Read More about Creating a family disaster preparedness plan
Recovering from a disaster can be a challenge in every way. Once you and your family are safe, make sure to assess your financial situation. Keep your insurance paperwork in order and, if you need to, conserve your cash flow for any emergency expenses.
In time of loss or crisis, reach out to your insurance company right away. Gather the legal documents and policies you'll need, and refresh yourself on coverage and claims processes. Be alert and wary of other firms offering help so you don’t become a victim of fraud.
Even when fully employed, try not to use your emergency reserves to fund vacations, large purchases or tuition. If you do tap your emergency fund, make sure that you replenish it as soon as you can so you’ll have a safety net.
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