window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-108416834-2');

Highlands Residential Mortgage Resources

National Preparedness Month – Protecting Your Home and Mortgage

By: Highlands Residential Mortgage

September is National Preparedness Month, a time dedicated to raising awareness about the importance of being prepared for emergencies and disasters. As a responsible homeowner and mortgage holder, it’s essential to consider how you can protect not only your family but also your investment. Let’s explore some steps you can take to ensure you’re prepared for the unexpected.

Assessing Your Home’s Vulnerabilities:

Begin by evaluating potential vulnerabilities in and around your home. Consider factors such as geographical location, weather patterns, and proximity to potential hazards like floods, earthquakes, or hurricanes. Understanding your area’s risks will help you tailor your preparedness efforts.

Reviewing Your Home Insurance Coverage:

Take a moment to review your home insurance coverage. While insurance safeguards your property, understanding its coverage and limitations is vital. Ensure you’re aware of what perils your policy includes—such as fire or theft—and any potential exclusions like floods or earthquakes. Stay prepared by regularly assessing and updating your coverage to make informed decisions about your protection.

Creating an Emergency Fund:

Incorporate an emergency fund into your financial planning. This fund can be a lifeline during unexpected times, allowing you to cover mortgage payments and other essential expenses if your income is disrupted due to a disaster. It is advisable to accumulate savings equivalent to 6-9 months of your current salary.

Documenting Your Assets:

Maintain an updated inventory of your belongings. This documentation can be crucial when filing insurance claims after a disaster. Include photos, receipts, and descriptions of valuable items to ensure you’re adequately compensated for losses.

Establishing an Emergency Plan

Stay updated on emergency plans and evacuation procedures applicable to your region. Consider following your local fire and police departments on social media for relevant updates, and ensure you have essential contact information readily available for potential emergencies. Additionally, establishing a family plan is crucial, ensuring that everyone is aware of the appropriate contacts to reach out to in the event of an emergency.  Staying well-informed and having a family plan in place can greatly impact your actions when swift decisions are crucial.

Regularly Reviewing and Updating:

Preparedness isn’t a one-time task. Regularly review your emergency plans, insurance coverage, and financial arrangements. As circumstances change, your preparedness strategies may need adjustments.

National Preparedness Month serves as a reminder that disasters can strike at any time. By taking proactive steps to protect your home and belongings, you’re not only securing your family’s well-being but also ensuring the stability of your financial future.  Remember, preparation is key!  Be informed, be ready, and be resilient!  If you have any questions, your Highlands Loan Officer will be glad to assist!