A home disaster stinks.  But if you prepare for the worst and expect the best, it is an inconvenience not a catastrophe. 

Our basement flooded over the holidays, again, for the fourth time.  Each time we have addressed the issue and moved on.  Each time has been unique – a burst pipe, sewage back up, over watering the front flower bed etc.  When it comes to these types of things, we feel as though we really can’t be prepared. The thing is, we can.


The first step is to make sure that you have adequate insurance in place.

When I purchased our homeowners policy eleven years ago, I made sure that we had an extra water rider.  Yes, I pay a little more for this, but I had problems in my previous home, so I thought it was worth the peace of mind.  Turns out, it is- again and again.  Do you know if you have one of these? Now is a good time to reach out to your property and casualty insurance agent to see what coverage you have and to make sure you are adequately insured.


Secondly, have money set aside in your cash reserve that easily covers your deductible.

When the pipe burst on my hot water heater this time, I knew that I could write the check I needed to and keep on moving.  One less thing to stress about when everything is already going crazy.


Thirdly, document.

We keep good financial records, so I was able to pull the last flooring bill- the one we are now going to replace.  We also have a file with serial numbers of any expensive item that we have.  Our financial records, which we keep in the basement, are in plastic bins to protect them.  We also keep electronic copies of everything that is really important. When you have the data, you take the guess work out of the process.


A home disaster stinks.  But if you prepare for the worst and expect the best, it is an inconvenience not a catastrophe.


Cecilia Brown is a Registered Representative offering securities and advisory services through Lincoln Financial Securities Corporation, Member SIPC.  Branch Office:  Clock Tower Place, 1410 Forest Drive, Suite 28, Annapolis, MD 21403.  Lincoln Financial Securities and its representatives do not offer tax or legal advice.  Individuals should consult their tax or legal professionals regarding their specific circumstances.   LFS- 2000846-012218