You’re Financially Prepared for an Emergency; are your documents?

With all the news of earthquakes and tornadoes in the GTA, and Hurricane Irene headed for Canada’s Eastern coast, there’s a lot of talk of emergency preparedness and getting ready for any disaster that may strike. And while having a storm cellar or a comfy nook in the basement is great; and having two to six months salary stashed away is even better, have you given thought to what’s going to happen to your paperwork should disaster really strike, and you end up losing significantly?
When it comes to the manner in which many of us store our documents, it can be pretty dangerous should a house become damaged or destroyed during a disaster; if that happens, storing your paperwork in a desk drawer or in a file folder somewhere just isn’t enough. You’re going to need that paperwork for your home insurance at the very least, to quickly recover any damages your home suffered during a storm. And in addition to insurance paperwork, you also need to make sure other paperwork is protected, such as your mortgage documents, the title and deed to your home, and your tax returns. Even though you may not need these documents right away, replacing them can take a very long time and sometimes, can also be near impossible.
So how exactly do you protect your documents?
Your best course of action is to have these documents placed in a safety deposit box at your bank. Keeping them off premises will keep them safe even in the event that something happens to your home, and the contents within it. Of course, make sure that you take copies of anything you keep off-site of your property, but make sure even the copies are protected by keeping them in a sealed plastic bag. Along with your important paperwork, also make sure that you always keep an updated list of valuables and their worth, along with pictures of those valuables should they become damaged during a disaster.
And don’t forget all of your digital information as well! These days, people log into their bank account online to receive their balances much more than they receive statements in the mail, make mortgage payments online, and keep financial records and information stored on their PCs. Because of this, external storage should always be used, and files and digital information should always be backed up onto this external storage.
To keep everything in one safe place, small personal-sized safes can be purchased that are fire, flood, and theft-proof. Keeping all copies of your mortgage documents and other paperwork in here, along with your external digital storage, will bring you extra peace of mind that you’ve really looked after everything should disaster strike.