One of the best ways to prepare for any emergency is to be financially prepared to handle whatever situation you may face. Experts agree that you should have enough saved to cover about three to six months of expenses. Sadly, most Americans don’t have enough to cover a $1,000 unexpected expense, such as a medical emergency or forced time off due to the COVID-19 Coronavirus.
It might be difficult to start an emergency fund in today’s challenging economy, but any amount you can set aside will help with food, gas, lodging and more after a disaster. Get more information at ready.gov/financial-preparedness
In addition to personal savings, you should also check to make sure your insurance policy will cover your home in the event of a serious hurricane. Even if you have great coverage, do you have enough savings to cover the deductible? You may have opted for a high deductible to save money on the premium. Be sure to use those savings to help offset that deductible.
Most homeowners and business insurance policies do not include coverage for flood, so you’ll need a separate policy. You don’t need to live or own a business in a flood zone to purchase a flood insurance policy, but you do need 30 days before the policy can go into effect. Visit floodsmart.gov to learn more and contact your agent today to ask for a complete insurance review.
Last, scan or take photos of important documents and save in a secure place to access during and emergency.
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