From June through November, we will all watch the forecasts for signs of a hurricane. Getting your home ready is a must, as is preparing your finances for property damage, power outages and evacuation orders.
Tropical Financial Credit Union will be there to help you through the difficulties a storm, tornado or hurricane brings. Here’s our advice on how to get ready:
Review and Update Insurance Coverage Today
Pull your homeowners, flood, and windstorm insurance policies out of the file cabinet. Read through whether you have adequate coverage for storm-related damage. Make adjustments now, well before a storm is forecast. Once a forecast puts you in a danger zone, your insurer will likely not allow changes. TIP: Confirm with your agent that your policy covers wind and flood damage, since standard homeowners insurance often excludes flooding, a common threat due to rising seas. Ask your auto insurance agent about water damage coverage for your vehicles.
Set Up Online/Mobile Banking
If you have our Daily Rewards Debit account at Tropical Financial, you’re probably all set to do all your banking online. Ensure you are registered for online and mobile banking. Take the time now to learn how to use your phone or tablet to pay bills and transfer funds online, and receive account alerts.
Build or Replenish an Emergency Fund
“Hope for the best and prepare for the worst,” the saying goes. That means having an emergency savings account whose balance can cover three to six months of living expenses. While you await insurance payouts, you will need the funds to pay big immediate bills, such as a hotel or apartment rental. Tropical Financial offers three savings accounts: Basic Savings Account for immediate needs, Savings Club, in which you automatically deposit a set amount each month, and Money Market, which pays higher interest on larger balances.
Stash Emergency Cash
Power outages and cell phone and internet network disruptions can knock offline ATMs and tap-to-pay terminals at restaurants and stores. Store enough cash in a waterproof container to cover several days’ expenses. TIP: Publix stores are most likely to have functioning ATMs because the company has installed generators at almost all locations. TFCU does not charge for accessing those machines.
Record and Store Insurer and Credit Union Contact Information
The digital age meets pen and paper when a hurricane hits. Handwrite or print a document file with contact information for your home and vehicle insurance agents, their claims departments, and the credit union or bank customer service phone number (888-261-8328 at Tropical Financial). Store the document, which includes account numbers and insurance renewal dates, with other emergency documents so you can quickly file claims or resolve banking issues even if you lose internet access.
Secure Important Documents
Collect important documents such as insurance policies, bank account information, identification, property deeds, and recent account statements and store them in a waterproof, portable container. TIP: Copy your digital records, including policy scans, onto a USB that’s in your go-bag should you need to evacuate. Be sure to secure the drive with a password.