In recent weeks, we've seen some pretty devastating weather disasters around the U.S. In fact, we've seen devastating ecological events globally during the past decade -- tornadoes, tsunamis, hurricanes, floods, earthquakes; the list goes on and on.
For some of these potential disasters, we have insurance available to help us rebuild. When we do have that insurance, we have peace of mind that our precious belongings can be replaced if disaster should hit.
But insurance isn't always available for every disaster. Nor will it always adequately cover the cost of rebuilding or replacing that which is damaged. And even if you do have adequate coverage, it can take months for that money to be paid.
One thing that isn't considered is the "meantime." What do you do in the meantime – after disaster has struck, but before you get paid from insurance (assuming that you have insurance at all)?
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This is where credit can help. A good credit score gives us access to money when we need it. It enables us to bridge the gap between disaster and the eventual recovery.
And that's assuming you have insurance. If you don't have insurance, or if insurance is not available or does not cover the particular disaster you faced, your credit will be the tool you rely on to help you. There are many reasons to have good credit: access to money when you need it, a competitive edge in the job market, and credit is even growing in importance in burgeoning romances.
Just as insurance gives you peace of mind and allows you to sleep at night, knowing that you are covered for disasters, so too does credit. Credit is the way you can bridge the gap in an emergency and ensure that your family's health and safety are looked after while you wait for insurance to help you rebuild.
Image: Zoonar