Keep an up-to-date home inventory to get fast service on any insurance claims, and to minimize disputes. Take photos or make a video of everything in your home, then store a copy in a safe place outside the house, along with receipts for valuable possessions. The Insurance Information Institute's Know Your Stuff Web site can help.
Build an emergency fund. Keep at least three to six months' worth of living expenses in a money-market or savings account that you can easily access without penalty in an emergency. Bump up your savings if you have a high-deductible homeowners policy and might need more cash.
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