Keeping an Eye on Hurricane Season
As if the U.S. doesn’t have enough concerns, the National Oceanic and Atmospheric Administration (NOAA) predicts a busier-than-usual hurricane season this year. The organization expects 13 to 19 named storms between June 1 and Nov. 30, 2020, with as many as six major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher).1
The Red Cross warns that hurricane season may look a bit different this year because the country is already burdened by the coronavirus pandemic.2 This means people need to think carefully beforehand about potential evacuation plans, especially in areas encouraging citizens to stay at home. Also, you may want to start gathering essentials (water, flashlights, batteries, medications, personal hygiene products and nonperishable goods) since some items are already in short supply as people shelter in place for COVID-19.3
Since we tend to rely so much on technology, consider what you can do to keep your electronics running during a power outage. Consider buying solar-powered battery packs to recharge cellphones, etc. Also, remember to charge and put old cellphones in your go-kit, as you can call 911 on all cellphones, even those without a service contract.4
It’s a good time to check your insurance policies so you are familiar with what property damages are covered. Also, put together a go-kit of supplies, important documents and cash in case you must evacuate quickly. Please keep us in mind if there is anything you’d like to discuss related to your insurance needs or retirement income during these difficult times.
Speaking of insurance, be aware that the U.S. government recently updated its flood zone maps, placing many properties in a flood zone when they previously did not. The new study reports 67% underestimated the number of homes and businesses that are now in potential danger. This number means an increase in high-risk properties, which could have implications for real estate prices in the long term.5
Content prepared by Kara Stefan Communications.
1 Eleanor Imster. EarthSky. June 1, 2020. “NOAA predicts a ‘busy’ 2020 Atlantic hurricane season.” https://earthsky.org/earth/atlantic-hurricane-season-2020-noaa-forecast. Accessed June 30, 2020.
2 Travis Fedschun. Fox News. June 25, 2020. “Coronavirus and hurricane season: Here’s why the Red Cross says now is the time to prepare.” https://www.foxnews.com/us/coronavirus-hurricane-season-red-cross-tropical-storm-emergency-evecuation-plan-discussion-family-planning-shelter-survival-kit-ppe-items. Accessed June 30, 2020.
3 National Hurricane Survival Initiative. June 4, 2020. “Hurricane Safety Checklists.” https://hurricanesafety.org/prepare/hurricane-safety-checklists/. Accessed June 30 2020.
4 Tyler Hayes. PC Magazine. November 4, 2019. “How to Survive a Blackout: 6 Things You Need to Build an Emergency Tech Kit.” https://www.pcmag.com/how-to/how-to-survive-a-blackout-6-things-you-need-to-build-an-emergency-tech. Accessed June 30, 2020.
5 Leslie Kaufman, Mira Rojanasakul, Hayley Warren, Jason Kao, Brittany Harris and Prashant Gopal. Bloomberg. June 29, 2020. “Mapping America’s Underwater Real Estate.” https://www.bloomberg.com/graphics/2020-flood-risk-zone-us-map/?sref=aGTrSb9U. Accessed June 30, 2020.
We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice.
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