Being Financially Prepared for a Hurricane

You've made the runs to the grocery store for the bottles of water, bread, and PB&J. But when it comes to natural disasters, you need to consider your financial preparedness as well. 

It's not new news that hurricane season is here. The weather channel, our weather apps, and friends up North have made sure we don't forget. But hurricane season isn't just about being prepared by storing up on non-perishable foods, batteries, bottles of water, and having an evacuation plan. You financially need to be prepared and ready for a hurricane, especially here in the Lowcountry. Now that we have had a taste of our first hurricane of 2019, we need to remember that one could be on its heels. Hurricane season isn't over until November. So, you still have time to get prepared. 
It goes without saying that yes, you need to make sure that your home and family are safe and prepared for anything. Make sure your home is stocked with what you'll need to get through a storm if you're going to stay. Follow all of the safety precautions laid out by local officials and police, and make sure you make informed and safe decisions. Your safety and the safety of your loved ones and pets are the first things that need your attention. 
But these precautions need to be taken care of even before the hint of the first hurricane appears. Taking care of your financial needs ahead of time will help eliminate stress, worry, and truly help you when a storm does arrive. Here in the Lowcountry, it's not a question of if, it's when. 

• Make sure you understand all of your insurance policies, your deductions, and know what is covered and what will not be covered. 
• Make sure you have all the correct forms of insurance. Some forms of homeowners insurance DO NOT include flood insurance. If you live in a flood zone, make sure that you have flood insurance included or have flood insurance. 
• Have your car and home service and inspected ahead of time. You need to have a safe and reliable car to help evacuate at a moment's notice, and paying for repairs on the road during an evacuation can be a nightmare or not even a possibility. Paying for your home to be serviced and repaired ahead of time can help prevent damage and help save you money. 
• Consider having a credit card used ONLY for hurricane needs. Build up the credit line when you first get the card so you can cover any unknowns that a hurricane could cause. From getting a hotel room, extra groceries, or home repairs, you will know you can cover these needs no matter what happens. 
• Make sure all of your important financial documents are stored in plastic bags and even wrapped in plastic to add another protective layer. Consider a fireproof box that can be carried out of your home with you to travel with or in a state of emergency. 
• Just in case the worst does happen, always have and carry with you copies of your most important documents. These documents include: 
  • Drivers license, your SSN card, birth certificates, copies of your children's identification, deed to your home, property tax information, car ownership, will and living will, estate info, power of attorney, lease for your rented properties and vehicles, proof of pet ownership, insurance papers, and any other important financial and tax document. 
• Make sure your banks and any other business you pay a monthly amount to are aware of the situation at hand. More often than not, these establishments will be willing to work with you in these situations as long as you alerted them ahead of time. 
• Have an emergency fund or savings account for times like these. 

Go beyond a hurricane fund or credit card. Have a budget in mind. With your everyday budget and salary in consideration with this, make a plan for the amount that you will need to spend on essentials. This includes the stocking up and hunkering down of your home and also if you do plan on evacuating. That will include hotels, travel expenses, and food. Depending on the outcome of a storm, you might be away from home longer than expected. Be financially able to support that! 
Last but very not least, keep cash handy! ATMs might be down or unavailable after a storm. You might not be able to get cashback at a store or even get to the inside of your bank. Make sure to have a safe stash with you or ready to go when you evacuate. Most plan for at least 72 hours worth of lodging, food, and travel expense. So start with that amount, and go from there. 
We hope this information is helpful for this year's storms and for many storms to come. Now that we've had the taste of our first one you have time to get prepared for the next hurricane. But as you do so, don't panic. If do just a few of these main points, you will be ahead of the game. Please stay smart, safe, and prepared this hurricane season!