Money Matters Ahead of Hurricane Season

In this together

Hurricane season is upon us again, and we Louisianians know that it takes some planning and preparation to make sure we’re ready to weather any storm. We know to have extra batteries, a weather radio and to fill up your gas tanks — but sometimes even the most weather-aware among us forget to prepare financially for hurricane season.

At United Community Bank, we’re Louisianians, too! As your neighbors, friends and personal banking advisors, we can help you ensure you’re safe physically … and financially.

As you stock away some extra food and water this hurricane season, heed the following money-related advice, too. Remember, we’re all in this together!

Stash some cash

When the power goes out, card readers, ATMs and money transferring devices are down. Gas stations and grocery stores that are open will only accept cash when they don’t have power or internet.

Hurricane season hacks

• Get small bills only ($5s, $10s & $20s)
• Have enough cash for three to seven days of essentials
• Keep your cash in a waterproof bag or container
• Make sure it’s easy to grab

Build an emergency fund

If you haven’t started building an emergency fund yet, start now. Even a couple of hundred dollars can be extremely helpful in stressful situations. There are usually added expenses in the aftermath of a hurricane that you didn’t consider when you were thinking about necessities like food and water. Tree removal, lost work hours and insurance deductibles add up fast.

Hurricane season hacks

• Stash away a couple of hundred dollars quickly to help you weather the storm
• Ideally, we recommend a storm savings of $2,000

Review your insurance policy

It’s important to really understand your insurance policy before you need it. Take some time to review your plan before the storm hits. It’s not uncommon to discover gaps in coverage after it’s too late.

Hurricane season hacks

• Know your hurricane deductible amount
• Understand flood coverage, as many standard insurance policies don’t include flood damage
• Ask your provider if your plan includes hotel stays

Protect your important documents

Make sure you keep your important hard-copy documents dry and free of damage. You can store documents in a UCB Safety Deposit Box to ensure they remain intact after the storm.

Hurricane season hacks

• Use water and fireproof folders for IDs, passports, birth certificates, medical information and property records
• Ensure you have digital backups before the hurricane hits

Lastly, as the skies clear, watch out for scammers. If you are uncertain about a phone call, email or mail offer, call your local United Community Bank branch to talk to a personal banking expert. Unfortunately, price gouging, FEMA scams and fake contractors offering services are common. We can help!