How To: Avoid Financial Troubles After A Natural Disaster

A natural disaster does not have to lead to an empty bank account.

Natural disasters can strike with little or no warning and cause serious damage. Not having the coverage you need for a natural disaster can mean big financial trouble as you try to get your life back on track. Keep these tips in mind to ensure your financial security after the next disaster strikes.

• Never sign a certificate of completion or pay a contractor in full until all work is done and you are satisfied with the outcome.
• Do not sign a form or contract that has missing information or is blank.
• Avoid allowing a contractor from pressuring you into hiring their company for the job.
• Do not let a contractor interpret your insurance coverage or discourage your insurance agent or company.
• Always get multiple estimates for repairs before deciding on a contractor to work with.
• Ask for the contractor's credentials before you agree on the work. Take note of the license plates on all work vehicles on your property, and check the license of any contractor before you authorize any work.
• All work to be done, cost, schedules, payment structure, and guarantees should be in writing.
• Always review all documents and check references before hiring a contractor.

Unfortunately, many fraudulent contractors and repairmen try to defraud homeowners in the days and weeks following a natural disaster. Watch out for these common tactics that could signal an unreliable and unlicensed worker.

• Doing sub-standard work or using cheap materials to help increase their profits.
• Requiring money up front and then never returning to get the work done.

Having the right homeowners insurance policy can help to give you the coverage you need in case of a disaster. Contact Scavone Insurance Agency Center LLC in White Plains, New York for all of your home insurance coverage needs.