You worked hard to care for your home and save for the future, but disasters can lead to unexpected financial emergencies. This National Preparedness Month, visit FloodSmart.gov and Ready.gov/financial-preparedness to protect the life you’ve built, no matter what comes your way.
Be prepared for floods and hurricanes before they hit — have a plan and know it before the storm comes. This hurricane season, make sure everyone in your household knows and understands your hurricane plan. And if you have a business, make sure it has a continuity plan so it can stay up and running when disaster strikes.
Part of your plan should also focus on protecting your wallet in the event of flood damage. Here are some easy ways to build financial resilience:
- Know your flood risk. Use NFIP’s flood risk calculator to help fellow homeowners and renters better understand their flood risk. Remember, just one inch of flood water can cause up to $25,000 damage.
- Consider an Insurance checkup. If you are a current NFIP policyholder, now is a good time to make sure your policy is renewed. Remember, it typically takes 30 days for a new policy to go into effect.
- Get covered. If you are not a current NFIP policyholder, get in touch with a local insurance agent to purchase a policy.
- Create a rainy-day savings account. By saving a little each month, you can ensure you are financially prepared for unexpected expenses while recovering from flood loss.
- Secure important documents. Store copies of birth certificates, passports, medical records, and insurance papers in a safe, dry place, and keep original documents in a watertight safety deposit box. Also consider saving them to a digital platform. These documents will come in handy during an insurance claim.
While we can’t control what the weather may bring, we can prepare for it. Visit Ready.gov/financial-preparedness to find out more.
This article first appeared in the monthly Individual and Community Preparedness Newsletter. Subscribe here
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