Cut your existing costs
Three moves can cut your premiums by as much as two-thirds, according to The Insurance Maze: Raise your deductible to $1,000 from $250 (15% to 30% savings), purchase your auto insurance from the same company (15%), and keep a claim-free record (5% to 35%). That would save $245 to $560 on a $700-a-year policy.
If disaster does strike, make sure you have vital information within arm's reach before you head out the door. Preparation can prevent a personal crisis from turning into a financial disaster. Create a command central for your family's finances with this list of bare essentials.
Get It Done: Make a Grab-and-Go Box
Contacts: Note phone, address, and email for family, friends, schools, medical and financial advisors, utilities, and service providers (cleaning, gardening). Designate an out-of-town contact for everyone to call.
ID: Assemble passports, a current picture of each family member, and birth and marriage certificates.
Emergency resources: Include some cash and prepaid phone and charge cards.
Medical: Pull together health insurance policy information; claim forms; copies of insurance cards; a list of hospitals, doctors, pharmacies, and current prescriptions; and medical histories.
Financial: Jot down account numbers (credit, bank, brokerage, mortgage, savings), branch and main websites and phone numbers, and passwords (kept secure). Include the location, spare key, and content list for your safe-deposit box. Make sure a loved one or trusted advisor has been granted access.
Household: Document all payment obligations (mortgage, credit card, utilities, and auto, student, and any other loans), due dates, minimum required payments, and payment info. (Online banking and bill payment is a real help in these situations.)
Insurance: Include homeowner's, auto, life, and disability policies; blank claim forms and contact information; a list of local adjusters; and a detailed home inventory.
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