What to Do After a NATURAL DISASTER.

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The aftermath of a year of natural disasters has left many individuals and businesses facing difficult financial recovery. Beyond the damage to property, there may be an interruption of income or loss of important financial records. The following advice from the Institute of Certified Financial Planners, Denver, Colo., can help you minimize the financial impact of future disasters:

Secure your property. Remove any valuables and important records (if it is physically safe to do so) and take steps to prevent or minimize further loss. Photograph the damage.

Contact your insurance carrier. Don't make any specific dollar claims yet. Just notify your carrier that you are a disaster victim and get yourself on its claims process list. If you have been forced from your residence, see if the insurer will pay for temporary living expenses, such as a motel and food, and whether these payments will reduce your settlement later for property and possessions.

Inventory the loss. If you don't have a good documented inventory, begin writing down everything you can think of that you lost and try to collect written records such as receipts and checkbook stubs. Do this as soon as possible after the disaster since it is easy to forget things. Skim through classified ads and catalogues or walk store aisles to determine a fair value for lost items. Collect photos or videos that friends or relatives may have taken of your property. Employees can help reconstruct business losses. Sketch out the floor plan of your residence or business. Come back to it and the inventory list two or three weeks later. You may remember additional items.

File your claim. Generally, the sooner you file, the better. Find out how the company is handling the claims process. (It may set up special procedures in the wake of a widespread disaster.) Be sure you have reconstructed your loss as accurately as possible to avoid settling a claim and then realizing later...

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