Buying and owning a home comes with a lot of responsibility, and being prepared is one way to stay ahead and prevent costly mistakes. One question to ask yourself is, “If catastrophe struck, would my family be ready?” Taking simple steps today could save lives and prevent suffering later. Follow these tips to protect your loved ones—whatever tomorrow brings.

1. Set a family strategy.
Prevent panic and confusion by making sure everyone knows where to go and what to do in an emergency.

2. Pack vital supplies.
You can buy an emergency kit or assemble your own from the list below. Keep everything in protective containers, such as plastic boxes. If you evacuate, take the kit with you.

3. Assemble a first aid kit.
Medical supplies should be easily accessible in your emergency kit.

5. Map out escape routes.
A disaster could force anyone to evacuate a home. Be ready to act.

6. Review insurance policies.
Buying insurance isn’t enough. Preparing for a disaster includes understanding your policies.

Ask yourself these questions about your homeowner’s policy:

* Is my information current? Review policies periodically. Keep emergency contacts up to date, and notify your insurer if your mortgage company changes. Tell your agent about home renovations. Otherwise the amount of your coverage may not be enough to rebuild. Every five years, reappraise the belongings itemized in your policy (your scheduled personal property). These items may increase in value, but you are covered only for the amount recorded in your policy. Also consider a free replacement-cost analysis from your insurance agent.

* Do I have Replacement Cost Value coverage? This is recommended, though it costs slightly more. With Replacement Cost Value coverage, if a household item is destroyed, you can replace it with a new one. With Actual Cash Value coverage, you receive only the amount the item was worth when it was destroyed.

* Does my house meet current building and wiring codes? Codes are updated often, so a home doesn’t have to be old to be out of date. With Law-and-Ordinance coverage, your home will be brought up to current standards if you must rebuild
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* Do I have flood insurance? This is not included in your regular policy. You may inquire about flood insurance from your insurance agent.

* Do I need earthquake insurance? Homeowner’s insurance doesn’t cover quake losses unless you add an earthquake endorsement.

* Do I understand my deductibles? They are listed on your policy declarations and vary across the country and depending on the limits you select. Some areas have a separate deductible for wind damage, which will be listed on your declarations.

Remember to report property damage to your insurance company as soon as possible, and do what you can to prevent further damage. Some Insurance companies have 24/7 claims service.

7. Safeguard documents.
Create a paper trail. Keep important documents in a fireproof safe or, even better, away from home in a secure location, such as a vault. 

• Insurance policies
• Proof of residence (deed or lease)
• Birth and marriage certificates
• Passports
• Social Security cards
• Copy of driver’s licenses
• Bank and credit card information
• Wills, deeds, and copiesof recent tax returns
• Stocks and bonds
• Home inventory

8. Make a home inventory.
If the worst happens and your home is destroyed, the settlement of your claim will be much faster if you have an inventory of your home. As important as it is, the idea of recording everything you own can feel overwhelming. Here’s are some guidelines:

• Keep it simple. Videotape your belongings while describing what they are, where you got them and their value, suggests Barry J. Izsak, president of the National Association of Professional Organizers. Don’t forget to shoot inside closets. You also might take digital photos and store them on a CD.

• Work room by room. “You don’t need to get it done in one day,” Izsak says. “Keep at it, even if it takes several weekends.”

• Shun all-or-nothing thinking. It’s OK if you’ve lost model numbers and receipts. The goal is to identify as many items as possible as clearly as you can. 

• Protect the results. Store the inventory in a secure location away from home, preferably in a safety-deposit box. (See item 7, “Safeguard documents.”)

• Make updates. Take stock at least every five years, and add any major purchases right away.

This article was reprinted with permission from Liberty Mutual Group. For more information please call Amy Ortzman at 860-659-4111 ext. 248 or toll free at 800-245-5558 ext. 248.