TAMPA, Fla. ā By now, you should have already started putting together an essential list of supplies to stock your hurricane kit for this year, but financial experts say many people may be forgetting those preparations you can make now for after the storm passes.
Bank of America Tampa Bay Market President Michael Esposito says gathering important documents and placing them in a watertight safe or electronically storing them could make all the difference for homeowners and renters if they suffer damage.
He also says to make sure more than one person in the family understands where the documents are, and who needs to be contacted for financial matters.
āIn many families, we have one individual who is in charge of the finances for that group and family,ā said Esposito. āItās always important, and probably a great idea, to include more people into that so they have more understanding if something were to happen, if bills need to be paid or who you need to reach out to.ā
Bank of America has released a list of documents you should have on hand in the event you suffer storm damage, which could make recovery a much faster process.
āThink about recent tax returns, property deeds, brokerage and retirement account information. Those you want to have maybe in a safety deposit box or in a waterproof safe, something you can access them later on,ā said Esposito.
Preparing for the paperwork nightmare after a storm is something real estate consultant Greg Cowen knows all too well.
His home on Davis Islands suffered severe damage from Hurricane Heleneās tidal surge last year.
His family was displaced for almost nine months, staying in short-term rentals and with friends, until repairs could be made.
The work isnāt done at Cowenās home, but the family has been able to move back in.
āSome of the things we needed right up front were obviously all of your insurance documents, your declaration pages,ā said Cowen. āThings like surveys, your permit history would have been really great to have.ā
Finally, financial experts say you should aim to have an emergency fund equal to six months of household income.
But even if you canāt save that amount in time for a storm, they say any savings can help after a storm.
Cash on hand can speed the recovery process, and help out with the essentials after a disaster.
WATCH THE FULL SPECIAL | Preparing for Storm Season 2025
- Parrish family invests in new equipment and techniques to prevent flooding this year
- Elevating your home to protect against flooding and comply with FEMA rules
- Evacuating from the storm: Two Pasco County women's stories of survival during Hurricane Helene
- All info, one place: Manatee County tries new hurricane approach
- Following NOAA cuts, voluntary retirements, retired chief meteorologist Says NWS Tampa is prepared