To help guard against these incidents, make sure you:

Never pay any money without reviewing and signing a contract;
Ask for references, proof of insurance and licensing as required by your city and/or state;
Resist any pressure to make quick or uninformed financial decisions;
Don't let anyone convince you to borrow more money than you know you can afford or make false statements on a loan application; and
Research all lenders, contractors, appraisers, etc. with the Attorney General's Office or Better Business Bureau.

Protect against identity theft.

If your home was severely damaged, your belongings misplaced or you were required to leave your residence, you may be at risk for identity theft. Consider placing a fraud alert on your credit report so creditors will follow specific procedures before opening new accounts in your name or making changes to existing accounts. To activate a fraud alert, call one of the three main nationwide reporting companies at the numbers listed below or use the link to submit it online.

Equifax: 800-525-6285
Experian: 888-EXPERIAN (397-3742)
TransUnion: 800-680-7289

Avoid a contractor dispute.

If your home or property was damaged, chances are you'll be working with contractors. To help things go smoothly:

Make sure a contract is in place before work begins–and have it reviewed by an attorney beforehand;
Ensure the contract itemizes all costs for labor as well as supplies, along with a defined timeline for completion; and
Choose a reputable contractor who can furnish references, licensing and proof of insurance.

Before choosing a contractor, you'll also want to watch for common red flags, including:

Door-to-door solicitations;
Estimates that are much lower than competitors;
Contractors that require immediate decisions;
Answering service only: no direct contact with contractor;
Contractor not from your area;
Entire payment required upfront; and
No insurance or references.

Manage insurance disputes smoothly.

You'll probably be working with a combination of insurance companies (home, auto, medical, etc.) to get your life back in order. Filing claims and getting reimbursed for lost or damaged items can be a lengthy and frustrating process. To help you work through it:

If possible, review your policies so you are familiar with the terms, deductibles and provisions;
Make sure you track the times and dates of all phone calls, who you talked to and the subject;
Save all emails and documents you receive;
Respond quickly to all written and electronic correspondence; and
Do your best to remain patient and informative.

If your clients' employees are experiencing problems, be sure to remind them of any voluntary benefits you offer that might help them, such as legal insurance, which can connect them with attorneys who can provide advice and representation.

Protect against identity theft.

Avoid a contractor dispute.

Manage insurance disputes smoothly.

Instant Insights /

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