57 F
Fort Worth
Tuesday, December 1, 2020
Banking More than Half of Americans are Unprepared for Natural Disasters: Are You?

More than Half of Americans are Unprepared for Natural Disasters: Are You?

Other News

Rethinking Screen Time for Kids

(StatePoint) As families try to establish a new normal, balancing screen time for kids has become not only especially challenging, but more important than...

Seniors with diabetes: Important questions to ask your doctor now

(BPT) - If you're a senior with diabetes, you're not alone. The statistics are eye opening — more than 25% of Americans age 65...

Connecting in kindness during troubling times

(BPT) - The theory that the world is interconnected to such a degree that the fluttering of a butterfly’s wing in Africa could cause...

Protecting Your Financial Health During the COVID-19 Outbreak [Video]

Sorry, but your browser does not support the video tag.(BPT) - The COVID-19 outbreak has many Americans quickly trying to adjust to a new...

(StatePoint) Only 39 percent of respondents in a FEMA survey say they have developed an emergency plan and discussed it with their households.

When a natural disaster strikes, moving your family to immediate safety is always the top priority, which means there is often little time to think about the financial details that can make the recovery process go smoothly. That’s why it’s crucial to be proactive and prepared for whatever comes your way.

 “Disasters occur during every season and on all different scales,” says Rullah Price, senior vice president and community outreach director, Wells Fargo Home Lending. “That is why being prepared is so critical in today’s environment.”

Committed to helping its customers impacted by all types of natural disasters, Wells Fargo is offering the following tips, to help plan in advance for worst-case scenarios:

• Save important financial documents, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies and stock and bond certificates, on a thumb drive. These records are often needed for tax and insurance purposes.

• Make a visual or written record of your possessions, including cars, boats and recreational vehicles. Or, use an inventory booklet and make a simple list.

• Photograph your home exterior, including landscaping, making special note of any improvements, such as a patio, fencing or outbuildings, as these may increase property value.

• Consider setting up online banking, mobile banking, bill pay and electronic account alerts. This will help you stay on top of your accounts and bills if you’re displaced from your home.

• Lastly, have cash or an emergency fund. A disaster can shut down local ATMs and banks. After a disaster, you may need cash for the first few days, or even several weeks.

It is also important to know that when a disaster is approaching, many financial institutions will send updates. This will help pave the way for a speedy recovery. For example, once Wells Fargo is aware of a pending disaster, the bank begins communicating immediately with customers who might be impacted, using numerous virtual channels, such as email, text, ATMs and social media — to alert them where to call for information and assistance should they suffer sustained damage.

After a disaster, wait until it’s safe to return to your property. Then, assess for damage, including your automobiles. Call your lender and insurance company to file a claim as soon as possible if you have sustained damages. It is also helpful to know in advance if and what resources your financial institutions provide. For example, Wells Fargo customers —  including  those with home mortgages, home equities and auto loans — can contact 800-TO-WELLS or visit wellsfargo.com/recovery

Don’t wait until disaster is at your doorstep to plan. Preparation today can pave the way for a smoother financial recovery process in the wake of a natural disaster or emergency scenario.

*****


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Texas Trust appoints Chief Growth Officer

Texas Trust Credit Union has appointed Ron Smith to the new role of Chief Growth Officer, charged with developing and executing data-driven strategies to...

Biden to nominate Yellen, highlights diversity on econ team

WILMINGTON (AP) — President-elect Joe Biden on Monday announced his senior economic team, including his plans to nominate the first woman to head the...

Stocks edge higher on Wall Street on latest vaccine hopes

NEW YORK (AP) — U.S. stocks edged higher in morning trading Monday after investors received several pieces of encouraging news on COVID-19 vaccines and...

Mnuchin denies he’s trying to hinder incoming administration

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an...

Bank of America announces $2.65 million jobs initiative for Texas Black and Hispanic-Latino students

Bank of America announced a new multimillion dollar jobs initiative Nov. 19 to help students of color complete the education and training necessary to...