Do you know where your insurance policies are? Does someone else know where they are in case you aren't there? It seems like a simple thing, yet most of us have our insurance policies in different drawers, different files, or we don't even know where we put them. So, the first step is to secure all of your insurance policies in one location. You can organize them in folders, envelopes, whatever you choose, but it's important that they all be in one place. If they aren't all together, right now would be a great time to do it!

Second, you need to make sure that someone you trust also knows where your insurance policies are. Should you become injured or worse, someone else needs to know where all of your important papers are, and this is especially true for your insurance documents. Having them all together in one place will make it that much easier should someone else need to locate your policies.

Third, in the case of homeowner's or renters insurance, it's a great idea to have a home inventory to support your claims and also help you remember everything you did have in case of a catastrophic loss. A video or pictures will ease the claim process. Although you will maintain these items with your other insurance paperwork and important documents, it's recommended that you make a copy of your homeowner's policy, inventory and video or pictures and store it at your office, with relatives, or in a safety deposit box. It won't do you much good to have these records inside a burning home.

Step 2 - Get Educated