Protect your finances, be prepared before a disaster or emergency strikes

The Shapiro Administration is encouraging Pennsylvanians to take proactive steps to safeguard their finances and review their insurance coverage before a disaster or emergency occurs.

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In recognition of September as National Preparedness Month, the Pennsylvania Department of Banking and Securities (DoBS), Pennsylvania Insurance Department (PID), and Pennsylvania Emergency Management Agency (PEMA) are providing practical guidance to help consumers remain financially secure and well-prepared.

“Recovering from a disaster can be overwhelming, but creating a financial plan in advance can significantly reduce stress,” said DoBS Secretary Wendy Spicher. “Safely storing important documents — including financial account information, deeds, titles, insurance policies, wills, and passports — can help families recover more quickly if disaster strikes.”

While electronic copies of these documents can be useful, it is recommended to keep paper copies in a fire-safe “evacuation box,” as power outages or damaged devices could limit access during emergencies.

“Disasters can occur anywhere and often lead to costly repairs that can put a strain on households,” said PID Commissioner Michael Humphreys. “Flood insurance is particularly important, as just one inch of water can cause over $25,000 in damage. Annual reviews of your insurance coverage can help prevent unexpected gaps and surprises.”