Act of God cannot be predicted many a times. However, individuals can take certain financial measures to keep the family safe and be financially ready when needed.

Individuals are prone to many natural calamities such as floods, earthquake, hurricane etc.

Do not wait until you are in that situation and regret being financially prepared to face the disaster.

The difficulty arises even when the effect of calamity subsides. When all your home items are washed off or broken, when you have very limited access to cash, or when you lose all your expensive items which you cannot afford easily now.

Here are few ways to be financially prepare against natural calamity.

1) Insurance

Insurance is the first thing you need to focus. Having family insurance will help you to a larger extent rather than having insurance of only bread earner.

Make sure your policy covers that will help you during natural calamities. It is better to verify and read the policy document carefully.

2) Property Insurance

Property insurance not only covers property but also expensive things under the property. However, one needs to verify the same with the insurer. Many individuals tend to neglect property insurance.

Keep a note of all expensive items at home, if possible, take a picture or video which will serve as proof.

3) Bank Locker

Bank locker can be of best use. Keep all necessary expensive times such as gold, silver, diamonds or even documents in the bank locker. Which will save them from calamities like floods and earthquake or fire.

4) Digital Locker

When it comes to original documents like Pan card, Adhaar Card or any other documents should be kept safely.

One can use to Adhaar based digital locker to save the documents electronically. Or one can make a soft copy and save it in a drive. However, in the case of loss, one can always go for a duplicate copy.

5) Cash

Having cash at home will be more helpful as the local merchants will not entertain debit cards at that time. Keep some extra cash safely and make sure of its availablily at the time of need.

Determining how much cash is needed is very important so that the amount set aside is not higher or lower and matches your needs at that moment

The rest of the amount can go in an emergency fund or bank fixed deposits.

Emergency fund will help you maintain you future financial commitments by taking care of the present financial situation.

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