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Did you know that flooding is the top cause of damage from tropical storms, and yet standard homeowners policies don't cover flood damage?

Peak hurricane season in the Atlantic Ocean begins in mid-August, and preparing yourself financially can be just as important as stocking supplies or boarding up windows.

In fact, even though the National Oceanic and Atmospheric Administration (NOAA) has predicted below-normal hurricane activity for 2026, that still includes a 70% probability for 1-3 major hurricanes with winds of at least 111 mph. And it's always smart to hope for the best but prepare for the worst.

So here are five things to do to batten the financial hatches:

1. Ensure you're insured. Many properties that should have flood coverage don't. Depending on where you live, it could be worthwhile to purchase a separate flood policy, especially since damage from storm surge counts as flooding damage. (An online tool like this one can help you assess your risk.) Flood policies are available through FEMA's National Flood Insurance Program or a participating private insurer, and may take 30 days to take effect.

In some areas of the country, a standard homeowner policy (and even a flood policy) can also exclude wind-related damage, so make sure you fully understand what's covered in the event of a hurricane. Contact your insurance agent or check your policy.

Also, documenting your belongings and valuables now can speed up the claims process if the time comes. Inventory your furniture and closets, write down any necessary make and model numbers, take videos or photos, and if you have expensive rugs, jewelry, or artwork, consider getting them appraised.

2. Prep a financial survival kit. When natural disasters hit, bank branches and ATMs may be inaccessible. FEMA recommends keeping cash on hand and having an emergency-only credit card to cover essential expenses for at least a week. (Dedicating one card to emergency purchases can also make it easier to track reimbursable or tax-deductible disaster expenses.)

3. Plan to be away. Be prepared if a storm forces you to evacuate your home. Most government benefit checks are now automated, but make sure any other checks you still get in the mail — or may need to send — are automated too. Photograph or scan documents that can be a big hassle or cost money to replace, or that you'll need to prove homeownership. These include:

•   Passports, driver's licenses, birth or adoption certificates, and Social Security cards

•   Rental agreements, house deeds, and vehicle registration or title papers

•   Insurance cards and prescriptions

Store the copies on password-protected cloud storage services since you may need them for post-hurricane aid and claim reimbursements.

Check out FEMA's Emergency Financial First Aid Kit for a full list of how to prepare.

4. Stock up now. If you're getting a physical survival kit ready (think: food, water, meds), try spreading out your purchases to avoid a single budget-busting expense. You could even go in on a bulk buy with neighbors, then divide the supplies. Also, if you've got a generator, make sure there's enough fuel in it to last several days, and if there isn't, order it now.

5. Make a cheat-sheet ahead of time. It's easy to panic during emergencies. To stay grounded, create a to-do list now that you can reference in the heat of the moment. To determine what you would need, imagine a worst-case situation where cell service isn't working, you don't have power, and you can only access public phones and computers.

•   Compile essential phone numbers, addresses, maps, and websites. Include your insurance agent's direct line and nearby storm and disaster shelters.

•   Look into the government's “Early Assistance” program, which allows you to apply at disasterassistance.gov for help after a disaster hits but before individual assistance is approved for it. This helps ensure you're among the first in the queue for assistance.

•   Take a moment to read up on post-disaster scams. The last thing you need is to be taken advantage of during a stressful time.

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