Achieva offers some notes on financial hurricane preparedness
When it comes to hurricane preparedness, we talk a lot about protecting our windows and our roofs and getting food, water and batteries.
But we also need to think about how we’re going to pay for it all.
Financial hurricane preparedness.
Hurricane shutters are a big investment. But they pay you back. They keep you safe but they are also a great investment up front, if and when you sell your house, you will get potential buyers that want to buy your house just because you have the hurricane shutters and you save 8 to 10% on your home insurance premium.
If you feel like you just can’t afford the investment at this point, you can use the equity that you already have in your home. You can get a HELOC or even a personal loan to pay for them upfront.
Then if you sell the house, you add it to the price of the house. You’ll get your money back.
Also invest in a generator. Look into generators that will power more than just one room including your kitchen and bedroom. You will also get that money back when you sell because your future buyers will feel secure when they have things already installed like generators and hurricane shutters.
Have a hurricane fund.
If you have to evacuate, you have to first know your evacuation site, and route. Then have a backup route because your first route could have flooding or it could have accidents. Once you determine where you will go and then find a safe place to stay, next map out where to get gas and get food – all that requires financing.
Being prepared is a way for it not to become more of a stress.
After the storm, you also might need money if you have to put an insurance claim in and your home insurance company has a deductible. It’s a good idea to already have that money set aside to pay for that deductible. That way you’re not stressing about more money you didn’t prepare for out your own pocket.
Don’t forget to have plenty of chargers. Also, take pictures of all your expensive valuable items, especially prior to the storm and if you have to leave and can’t take them with you. Consider saving these digitally on a backup cloud in case you lose your phone.
Don’t forget a copy of your marriage license.
This is all about protecting your investments.
Source: Achieva