I’ve been through the eye of a Category 4 hurricane — here are 7 things you should do to protect your money before and after – Finance

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  • Hurricane Florence, a category 4 storm, may be the strongest storm to land north of Florida in history.
  • I used to live in Florida and had several Category 4 hurricane experience under my belt, which left me with a few lessons learned along the way.
  • Here's what you need to know when it comes to protecting your money during Hurricane,

Hurricane Florence may be the strongest storm ever made to land north of FloridaCurrently, category 4, which is characterized by a strong wind scale Saffir-Simpson as a storm with winds, whose speed is from 130 to 156 miles per hour.

As a person who grew up in Hurricane Territory – otherwise known as Florida – I can tell you a lot: Hurricane Cat-4 is not something that can be done lightly, especially when it is heading into an area that does not normally face storms of this power.

I went through two storms of category 4. The first, Hurricane Charlie in 2004, was a beast with winds at 145 mph – and the eye went right where I was hiding.

The second, Hurricane Irma in 2017, was difficult to avoid, and I was forced to evacuate; after much of the talk about predicting which side of Florida would act on, it hit the west side of Florida. I took refuge on the east coast, but the hurricane was so monstrous that I was still experiencing the consequences on the right side of the storm, where the strongest winds,

As a veteran of the hurricane, I realized something like to prepare for and deal with the consequences of the hurricane, especially when it comes to the most important and vulnerable aspects – your finances.

Here are seven things that you need to know about financial preparation for Hurricane Florence,

Manage accounts and salaries in advance


Manage accounts and salaries in advance
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Manage accounts and salaries in advance

(Mark Wilson / Getty Images)

First of all, Set up automatic payments for your accounts and direct deposits for your checks, if you do not already have them – there may be delays by mail or you may not have Internet access for paying online.

You do not want to become "Seriously delinquent" if you lag behind your mortgage payment as a result of the hurricane, although some companies and financial institutions can extend grace periods or postpone payments in the light of circumstances.

You will need money


You will need money
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You will need money

(Eliza Amendola / AP)

In addition to having a reserve fund, you will also need backup cash in small accounts – when capacity is not, there will not be another way to pay for supplies or gas (if any) and you will not have access to an ATM withdrawal of funds.

There's no rule about how much money you need; it depends on your judgment. But after my first hurricane my neighbor was without power for almost three weeks – better to overestimate.

Do not store important documents in the dishwasher


Do not store important documents in the dishwasher
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Do not store important documents in the dishwasher

(Matthew Lloyd / Stringer / Getty Images)

I hate to be a bearer of bad news, but the trick floating around the Internet, about storing your valuables and documents in dishwasher during a hurricane this is not the one you should listen to. If there is a flood, the dishwasher will not dry.

You must have photocopies or electronic copies your personal, home and property, property, medical and financial documents stored on a flash drive or in the cloud. Think of such things as a social security card, certificates for shares and bonds, house documents, a passport and documents for real estate planning.

But if you get to the chase and do not have time, you have to put all the documents and cash in tightly sealed Ziploc bags, which will be placed in the lock block and exit. If you are evacuated or hiding from your home, you can not return within a few days – and you will need these things on your face.

Beware of fraud


Beware of fraud
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Beware of fraud

(Spencer Platt / Getty Images)

Unfortunately, some people like to use difficult situations – and assault fraud and fraud – this is what you will need to monitor the consequences of the hurricane.

One of the most common scammers is repair. Sometimes insurers must recruit independent claims regulators from outside the state – scammers use this opportunity to use homeowners, according to CNBC, Always ask for an identity card, investigate customer feedback sites and leave a paper trail – do not pay in cash and do not pay it all in advance.

According to AARP, some scammers even appear on the threshold of people, representing as a risk inspector of the Federal Emergency Management Agency. You should also be aware of the cyber-thieves that can create fake GoFundMe pages or fake charitable fraud,

Watch the price


Watch the price
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Watch the price

(Mark Wilson / Getty Images)

Another way to use people during a hurricane? Manipulation of prices. In accordance with New York Times, a one-way flight by bus from Miami to Phoenix shortly before the Hurricane Irma increased from 547,50 to 3,258 dollars.

But these are not just flights that you need to worry about – they are also basic necessities, such as food, water and gas. Six packets of water were presumably being sold for $ 72 during the hurricane of Irma.

In some states, there are laws against price gouging, and at the present time one in fact for North Carolina before the hurricane Florence. You can report a price reduction by calling 1-877-5-NO-SCAM or by filing a complaint at www.ncdoj.gov.

Perhaps it would be difficult to save money on spare parts


Perhaps it would be difficult to save money on spare parts
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Perhaps it would be difficult to save money on spare parts

(Kat Wade / Getty Images)

It can be difficult to save on hurricane supplies if you did not purchase them in advance before the season with the help of deals and coupons – especially as consumables go low and price gouging comes into effect when the hurricane looms. From lanterns to first aid kits, you can get a lot.

But you can make the most of your money if you know what to get. For example, do not stock up on food that needs to be cooled – it disappears when the force dies, if you do not have a backup generator (and even sometimes it may not work). Instead, choose not perishable products, like canned food.

You can also make the most of what you have at home – take batteries from the remote control to use them for a flashlight or fill empty water jugs and bottles of water with tap water (if it is suitable for drinking) before the storm so that you have there was not to buy as much water in the store.

Check your insurance information


Check your insurance information
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Check your insurance information

(Getty Images)

Insurance may be one of the most difficult financial aspects of a hurricane. Before a storm, you must review and understand your homeowner's insurance policy to ensure the protection of valuables in case of loss or damage.

Something that you need to pay attention to is "Actual coverage of monetary value" against "covering replacement costs." The first pays the cost of ownership after deduction of depreciation; The latter pays to replace the property, a form of more complete coverage.

Not all politicians suffer from floods. Only 17% of homes in eight counties of Hurricane, Harvey was on insurance. FEMA can provide assistance in the form of private philanthropy and grants, but the process can take weeks or even months, a delay that could potentially lead people into debt. According to Reuters, the average payment of FEMA to victims of Hurricane Katrina was only $ 7,114 and $ 8,016 for Sandy.

You need to apply with photo documentation and make an appointment for the regulator.

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