Resources

How to Prepare Financially for a Natural Disaster

From the Independent Community Bankers of America

Weather and health-related natural disasters can leave property in tatters and wreak financial havoc on families and communities. While you can't control mother nature, you can minimize financial devastation by putting a plan in place before disaster strikes. Here are some simple measures to prepare for the worst and reduce the financial impact on you and your family.

• Establish an emergency fund specifically for crises and keep some cash on hand in case ATMs or digital banking services are temporarily down.


• Secure essential documents such as insurance policies, property deeds, and medial powers of attorney in a waterproof and fireproof container or digitally on a secure platform.


• Maintain an up-to-date inventory of personal and household valuables and use photo or video to document their value and determine replacement costs.


• Prepare backup communication plans if both cellular and landline services falter.


• Evaluate your coverage for natural disasters, especially flood insurance, which is often separate from homeowners' policies. Consult your insurance agent or visit the Federal Emergency Management Agency's (FEMA) website to determine if flood insurance is a good idea in your area.

If you and your family have questions or concerns about financial preparedness, please don't hesitate to stop by or call us here at Port Richmond Savings at 215-634-7000. We are happy to help.

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Other Resources

• More information from the ICBA on crisis preparedness: icba.org/crisis-preparedness


• FEMA's Emergency Financial First Aid Kit can be found at ready.gov.