Wells Fargo Study Shows Most Americans Aren’t Prepared For Natural Disasters: How To Prepare Yourself


A new study from Wells Fargo shows that many Americans are unprepared for a natural disaster. (iStock)

Natural disasters continue to be a problem in the United States, and a new study from Wells Fargo shows that many Americans are not physically or financially prepared when they strike.

About 84% of Americans currently live in areas that have experienced some form of natural disaster in the past three years, according to the study released Sept. 22. And 54% of those surveyed live in areas that have experienced severe natural disasters such as hurricanes, tornadoes, floods, forest fires or earthquakes. Additionally, 72% of Americans said their families had been personally affected by a natural disaster at some point in their lives.

However, despite this proximity to natural disasters, 71% of Americans said they did not have a detailed plan in case they were hit by one, according to the survey.

One way to make sure you’re ready is to choose the right home insurance plan. With the right home insurance, you can be better prepared financially in the event of a loss. Visit Credible to compare plans from multiple companies and see which one is right for you.


Many Americans are unprepared for natural disasters

Among Americans who said they are unprepared for a natural disaster, 40% said they never thought about making a plan, 35% were more focused on immediate problems, 31% didn’t didn’t and 16% said they didn’t know how to prepare, according to the survey.

“The investigation confirms a lack of physical preparation as well as financial preparedness for emergencies for most people,” said Rullah Price, manager of public affairs resilience and corporate incident communications at Wells Fargo. “Since half of those surveyed said they would like their bank to proactively help them plan for a natural disaster, I think Wells Fargo has the opportunity to educate and inspire people to make changes for the better – from now on. “

If you’re looking for ways to prepare, you might consider purchasing home insurance that covers damage from the most common natural disasters in your area. Having the right coverage can save you money in an emergency, and comparing multiple providers can also help you save on your monthly payments. Visit Credible to enter your information once and see the offers of several suppliers.


Plans and finances are incomplete

The Wells Fargo investigation found that even when consumers have a plan, it is often incomplete. Of those who had a plan, 78% prioritized food and water supplies, 63% included emergency money, 61% wanted access to important documents and 59% listed a planned transport and evacuation route. The plans also included lower priority items such as medical needs (54%), a family communication plan (52%), a refuge plan (49%) or a plan for pets (44%).

“Most people’s plans lack detail,” Price said. “There is a need to really think through all the possible scenarios. For example, only a quarter of respondents presented specific plans for household members of different ages. This is extremely important for vulnerable people like children and children. seniors.”

Important items to include in a preparedness evacuation plan kit, in case of a storm or other emergency, include:

  • Battery
  • Drugs, prescriptions and other medical care
  • First aid kit
  • Flashlights
  • Blankets
  • Non-perishable food

To make sure you’re prepared for any scenario, create a contingency plan and prepare your home. And make sure you have the right coverage, like potential flood insurance. You can visit Credible to get prequalified for home insurance in minutes without affecting your credit score.

In addition to not being physically prepared, the study also found that only 44% of Americans have emergency savings accounts, and many don’t keep cash. Another 39% said they don’t keep emergency cash at home, and 11% have $ 100 or less at home.

“We are moving towards a cashless society, but in an emergency cash is what is needed,” Price said. “In the event of a natural disaster, you may not have easy access to an ATM and credit cards may not work in the event of a power outage. It is important to be prepared for all possible events. . “

If you’re facing the impacts of a national disaster and don’t have emergency savings, you might consider taking out a personal loan when interest rates are near their all-time low. This can help you cover immediate needs. Visit Credible to compare personal loan options from several lenders at once.

How to prepare for a natural disaster

To make sure Americans are prepared for a natural disaster, there are a few steps they can take. One of them is to create an emergency kit that includes important documents like passports, social security cards and birth certificates. It should also contain food and water, extra money, and other necessities.

Americans should also have their finances in order and keep an emergency savings account. If they don’t have enough in their account to cover their needs or emergency repairs, personal loans are available to help cover the expenses. Visit Credible to find your personalized rate.

Homeowners should also make sure that they have sufficient coverage for natural disasters that could strike their area. Visit Credible to speak to a home insurance expert and get your questions answered.

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.


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