When it comes to getting ready for hurricanes, ensuring your financial preparedness is just as crucial as having a flashlight with fully charged batteries. Leaving your home during a natural disaster can be stressful but having the peace of mind that your personal and financial documents are up to date and in one place can make a big difference. Learn how to be better prepared to recover and rebuild after a hurricane strikes.
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Take Inventory
To prepare for a hurricane, start by making a list of all the things you have in your home. Take pictures or videos of your belongings to help you remember them. Gather this list along with important documents like your Social Security and health insurance cards. Don’t forget to include a list of your current prescriptions. It’s also a good idea to make copies of important financial and family records, such as deeds, titles, wills, birth certificates, and marriage certificates. -
Review Your Insurance
Find out if any of your home, health, or other insurance policies will pay for temporary shelter, replacement clothing, furniture, or other items if you are affected by extreme weather. -
Create an Emergency Fund
An emergency fund will provide a financial safety net, allowing you to cover immediate expenses without relying on credit cards or loans. Try to save up at least three to six months’ worth of living expenses. -
Download Your Bank’s Mobile App
Make sure you have your bank’s mobile app downloaded and your online banking set up. Online banking allows convenient access to your accounts, even during a hurricane. Familiarize yourself with online banking features and set up automatic bill payments to avoid late fees and missed payments. -
Keep Documents Safe and Secure
Keep your important documents in a place that is safe and easy to access. Consider using a fireproof box and find a spot in your home that is easily accessible in case you need to leave quickly. Include an extra set of keys for your house and car. Make sure you add cash in case banks and ATMs are closed. You should also consider having electronic backups of your financial records so you have quick access to your financial information when you need it. -
Track Expenses
If you are affected by a hurricane, make sure to keep track of all related expenses, including evacuation costs, temporary housing, repairs, and replacements. Keep copies of receipts, invoices, and other supporting documents. This record will be valuable for insurance claims, tax deductions, and reimbursement.
In the event of a hurricane impacting your area, stay in the know at ftc.gov/weatheremergencies
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