MONEY SAVVY WEEKEND : Financial Planner : Checklist: This Weekend
Catastrophic earthquakes in Turkey and Greece are stark reminders of the financial and personal devastation temblors can cause. The following steps can help you limit the cost:
Today: Contact your homeowners insurance agent.
Homeowners now have more options for earthquake insurance coverage. The state-run California Earthquake Authority offers lower deductibles and greater contents coverage than before. Some private companies, including GeoVera at (800) 324-6020, also offer more comprehensive policies.
Saturday: Check out your house.
Bolting your home to its foundation and strengthening any “cripple walls” above the foundation are two of the best ways to avoid major earthquake damage. If your home is not already bolted, you can look for a qualified contractor (one who has taken the Federal Emergency Management Agency retrofit course). You can also order a video demonstrating retrofit techniques from the Assn. of Bay Area Governments in Oakland at (510) 464-7900.
Sunday: Get out the toolbox.
Many retrofits can be do-it-yourself projects: strapping your hot water heater to the wall, installing latches on cabinet doors, bolting heavy furniture to wall studs, moving heavy and valuable objects to lower shelves and removing mirrors and glass-framed pictures from sleeping areas.
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