Only 39% of respondents in a FEMA survey say they have developed an emergency plan and discussed it with their families.
When a natural disaster strikes, getting your family to a safe location is always the top priority, which means there is often little time to think about the financial details that can make the recovery process smoother. That’s why it’s crucial to be proactive and prepared for what lies ahead.
“Disasters occur in all seasons and on very different scales,” says Rullah Price, senior vice president and director of community outreach at Wells Fargo Home Lending. “That’s why being prepared is so critical in today’s environment.”
Committed to helping its clients impacted by all types of natural disasters, the director offers the following tips for planning ahead for worst-case scenarios:
• Store important financial documents, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies, and stock and bond certificates, on a flash drive. These records are often needed for 
tax and insurance purposes.
• Create a visual or written inventory of your belongings, including cars, boats, and recreational vehicles. Alternatively, use an inventory booklet and make a simple list.
• Photograph the exterior of your home, including landscaping, making special note of any improvements, such as a patio, fence, or additions, as these can 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 bills and invoices if you are displaced from your home.
• Lastly, have cash on hand or an emergency fund. A disaster can shut down local ATMs and banks. After a disaster, you may need cash in the first few days, or even several weeks.
It’s also important to know that when a disaster approaches, many financial institutions will send updates. This will help pave the way for a 
quick recovery. For example, as soon as Wells Fargo becomes aware of an impending disaster, the bank begins to communicate immediately with customers who may be impacted, using numerous virtual channels, such as email, text, ATMs, and social media – to alert them about where to call for information and assistance if they suffer sustained damage.
After a disaster, wait until it is safe to return to your property. Then, assess the damage, including your vehicles. Call your lender and insurance company to file a claim as soon as possible if you have 
sustained damage. It’s also helpful to know in advance what resources your financial institutions provide.
Don’t wait until disaster is at your doorstep to plan. Preparing today can pave the way for a smoother financial recovery process after a natural disaster or emergency scenario.
Source: StatePoint