Tips for financially preparing for severe weather

Courtesy: MGN Online

LEXINGTON, Ky. (WTVQ) – We all need to prepare for storms, not just where to go and what to have with us, we also need to prepare financially.

It is often said that you can’t predict when a disaster happens, but you can be prepared just in case.

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None of these families were expecting this to happen and now they are left to pick up the pieces.

“The thing with tornadoes or an unexpected fire, there is no warnings, it’s just there, or maybe the weather guy gives you 12 minutes or something like that.”

Kevin Adkins, a financial professional in Lexington who has gone through a tornado himself, shares five tips everyone should know that are critical to restoring normal daily life.

“The first thing we encourage everybody to do is check into insurance, make sure your policies are up to date, there is no lapses or anything like that.”

Adkins says you should consider getting “replacement insurance.”

It costs a little more but if you have it, you’ll be paid enough to buy new items to replace old ones, instead of getting the value of the old items.
He also suggests having online banking and direct deposit, because if a storm comes through and the bank goes down and you don’t have access to the mail, you still have your money.

“You may not have cell service, you probably won’t have internet service, your ability to even buy essentials may be compromised for some number of days so, we recommend having 3-5 days of cash on hand.”

Adkins also suggests to get your documents together, things like bank account information, birth certificates, real estate deeds, and vehicle registrations.

“It’s important to have all this information together in one place, the things that you are going to need to start the process of making claims or replacing things.”

You can save yourself a lot of time and headaches by following these five simple steps.

“It happens so fast, you have no time to prepare, if you don’t have all these things ready to go you’re not going to be ready.”

With tornado season approaching us, hopefully these tips will give you some peace of mind.