Hurricane Erin Looms as 2025’s First Major Storm—Here’s How to Safeguard Your Wealth and Safety Now

Hurricane Erin barrels toward coastal regions—financial chaos could follow. Don’t let disaster wipe out your portfolio alongside your property.

Fortify Your Finances Before the Storm Hits

Diversify assets into decentralized hedges like Bitcoin or stablecoins. Traditional banks freeze faster than floodwaters during crises.

Evacuate Risk, Not Just Your Home

Liquidate volatile holdings pre-impact. Post-disaster markets historically dip 12-18%—Wall Street’s ‘act of God’ clause won’t refund your losses.

The Cynical Truth: Disaster Profiteers Await

Hedge funds already shorting insurance stocks. Meanwhile, crypto’s 24/7 markets let you trade the apocalypse in real-time—because nothing moons like fear.

Key Takeaways

• Tropical Storm Erin is currently moving across the Atlantic, and could become a hurricane later this week as it approaches the Caribbean and potentially the U.S.
• Even if it doesn't directly hit the U.S., Erin could still bring damage.
• An approaching storm is a good time to ensure you have an evacuation plan and emergency kit in place, including important financial documents.
• Reviewing insurance policies is also a vital step, including whether you might want to change or add something to your coverage before the next storm arrives.

The National Hurricane Center says it's still too early to tell whether Erin will hit the U.S. or be pushed back out into the ocean before making landfall. However, the agency said it remains "an opportune time to ensure your preparedness plans are in place" as the U.S. progresses through hurricane season.

Ensuring you and your family are SAFE is the most important thing in an emergency. The top priorities should be having an evacuation plan in place and staying aware of the latest forecasts and evacuation orders from local and federal authorities. Once safety is ensured, maintaining a solid financial plan for any potential natural disaster is the next step.

Here's a rundown of things you should do before severe weather like a hurricane hits, from being aware of places to get emergency assistance to ensuring your important documents are in a safe place.

Know What You Have, What It's Worth, And Where Your Cash and Documents Are

In case your home is damaged, experts recommend completing a full inventory of valuable items in your home, which can help make a potential insurance claim easier. A proper home inventory can include the make and model, purchase price, and estimated current value of an item, and take the FORM of a written list or receipts, or a video documenting your property.

Aside from necessities like food, water, and emergency items like flashlights and first aid kits, the Federal Emergency Management Agency (FEMA) recommends that people in potential hurricane-impact areas know where their important documents are. The agency says certain documents, such as insurance policies, identification like birth certificates, and other financial records, should be in a "waterproof, portable container," along with cash.

Experts also recommend making digital copies of essential records so you can access them even if you don't have the hard copies.

Make Sure Your Insurance is Active and Adequate, Well Ahead of Time

Be sure you have enough home insurance well before hurricane season begins, as policies may not be able to be changed once a storm has been named.

Even if they can't be changed, reviewing insurance policies is an important step in emergency preparedness because knowing how much financial assistance you could receive if your property is damaged can help you plan for the weeks and months after a severe storm hits.

Take a moment to review the type of coverage you have:

• Actual cash value (ACV): Pays for your home and belongings minus depreciation. It is the value for which the property could be sold, which is usually less than what it would cost new.
• Replacement cost value (RCV): This is the cost to repair or replace your home at current market prices, without subtracting for age or wear
• Functional replacement cost (FRC): Also skips depreciation, but only pays for replacement items or materials that serve the same function as the original, even if they’re cheaper or not the same quality 

It's also a good time to consider whether you want to add flood insurance to your coverage portfolio once the current storm passes, to ensure you are even more prepared for future storms.

Keep This List of Aid Resources Handy

Federal resources include:

• FEMA: Provides housing, child care, transportation, burial, and other financial assistance to displaced individuals following a natural disaster
• The Small Business Administration (SBA): Provides low-interest disaster loans to qualified business owners, homeowners, renters, and nonprofit organizations
• The Internal Revenue Service (IRS): Can postpone tax filing and payment deadlines once the president signs an emergency declaration
• The Department of Education: Can pause or reduce student loan payments for borrowers in federally declared disaster areas

FEMA’s disaster assistance website can help you find more local resources, including Red Cross shelters.