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 savings account for use in a crisis and keep a small amount of cash on hand in case you're unable to access funds electronically and need to purchase necessary supplies, fuel or food.


• Store digital and paper copies of financial documents, including investment records, property deeds, insurance policies, tax information, wills, trusts and financial and medical powers of attorney.


• Make copies of personal documents- Driver's licenses, Passports, Social Security cards, Birth certificates, adoptions, marriage and divorce papers, property deeds and titles.


• Print contact information for trustees, guardians, and executors and store them away for safe keeping.


• Create an inventory of personal and household valuables and use photo or video documentation to help assess their value and determine replacement costs.


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


• Determine if you need a flood insurance policy. Contact your insurance agent or visit the Federal Emergency Management Agency's (FEMA) 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.