Almost three quarters don’t have a detailed emergency plan
In a time when natural disasters are becoming more frequent,
most Americans are not physically or financially prepared.
According to a new Wells Fargo & Company survey, four in five
Americans (84%) live in areas that have experienced some form of
natural disaster in the past three years, and over half (54%) live
in areas that have experienced severe natural disasters,
specifically hurricanes, tornadoes, floods, wildfires or
earthquakes. Furthermore, nearly three quarters of respondents
(72%) say they or their families have been directly affected by
natural disasters at some point in their lifetime. Nevertheless,
most Americans (71%) admit they don’t have a detailed emergency
plan in the event of a natural disaster.
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(Graphic: Wells Fargo)
Among those who do not have a detailed natural disaster
emergency plan, 40% say it’s because they’ve never thought about
making one, 35% say they are focused on more immediate issues, and
31% say they haven’t gotten around to it. Only 16% say they don’t
know how to prepare.
“The survey affirms a lack of physical preparedness as well as
financial readiness for emergencies for most people,” said Rullah
Price, head of Public Affairs Resiliency & Enterprise Incident
Communications. “Given that half of those surveyed said they would
like their bank to proactively help them plan for a natural
disaster, I believe there’s an opportunity for Wells Fargo to
educate and inspire people to make some changes for the better –
starting now.”
When asked about planning style:
- 40% described themselves as a Barely Covered planner who
has very thin and non-specific emergency plans
- 39% called themselves a Good Enough planner who has
adequate plans in place
- 16% called themselves an Avoider who has not thought at
all about emergency planning
- Only 5% described themselves as a Super Planner who is
prepared for every possible natural disaster and emergency
The national online survey of 2,226 adults was conducted by
Ipsos on behalf of Wells Fargo Aug. 31-Sept. 3, 2021.
Plans often incomplete
The survey found that those who do have an emergency plan (29%
of Americans) prioritize having food and water supplies (78%),
emergency cash (63%), access to important documents (61%) and a
planned transportation/evacuation route (59%). Items of slightly
lower priority include a plan for their medical needs (54%), family
communication plan (52%), shelter plan (49%) or plan for their pets
(44%).
“Most people’s plans are lacking in detail. It’s necessary to
really think through all the possible scenarios. For example, only
a quarter of respondents have outlined specific plans for members
in the household of different ages. This is incredibly important
for vulnerable ones like children and seniors,” added Price.
Only half of all Americans (52%) say they would be prepared if a
natural disaster left them without electricity for two weeks. Among
those with an emergency plan in place, less than a quarter (23%)
said they’d assigned responsibilities for helping others in their
plan.
Most not financially prepared
In addition to lacking a physical plan, most Americans also are
not financially prepared for disaster. The study found that less
than half (44%) have started an emergency savings account, and many
do not keep enough cash on hand. Two in five (39%) say they have no
emergency cash in the house, and another 11% have $100 or less in
cash at home.
“We are evolving to a cashless society—but during an emergency,
cash is what’s needed,” said Price. “In times of natural disaster,
you may not have easy access to an ATM, and credit cards may not
work if electricity is out. It’s important to be prepared for all
possible events.”
The study found that only two in five (43%) have a consolidated
file of important records and receipts, safely stored digitally and
in a waterproof, fireproof container. Slightly more than half (55%)
have recently reviewed insurance policies to ensure they have the
right types and amounts of coverage.
“It’s important to contact a qualified financial counselor to
help organize your finances for an emergency,” said Price. “Less
than a quarter of respondents have done this.”
Attention to details matter
“It was surprising to learn that less than a third (32%) of
respondents have a go-bag packed in case of natural disaster and
many of those with cars (43%) do not keep their gas tanks filled
halfway for emergency evacuation,” said Price.
Additional findings on preparedness:
- Less than half (46%) have an emergency kit that includes
supplies that will last for several days after a disaster for
everyone living in their home.
- Just over half (54%) have a 2-week emergency food supply
in their home.
- Two in five (38%) report that their important documents
are not easy to find in their house.
- Only a third (31%) have documented possessions by taking
photos and videos of their house and household items in case they
need to make an insurance claim.
Communication is key
Although most Americans are likely to be directly affected by
natural disasters at some point in their lifetime, only a third
(32%) have had a conversation with family members about how they
would locate each other if they were separated during such an
event.
The survey revealed that only a third of parents (37%) have
discussed the possibility of disasters with their school age
children, only a third of parents (36%) have made plans for school
age children in case the parents can’t get home, and just 13% have
discussed disaster plans with their neighbors or community.
“There have already been multiple natural disasters, including
wildfires, hurricanes, flooding, earthquakes and winter storms in
the U.S. this year,” said Price. “Because a natural disaster can
occur in any region at any time, it’s crucial to have a detailed
emergency plan and communicate with your family how you will
prepare and protect one another.”
About the Survey
Ipsos conducted a national online survey of 2,226 adults age 18+
on behalf of Wells Fargo. The poll was conducted Aug. 31-Sept. 3,
2021. The poll has a credibility interval of plus or minus 2.4
percentage points for all respondents.
About Ipsos
Ipsos is the world’s third largest Insights and Analytics
company, present in 90 markets and employing more than 18,000
people. Founded in France in 1975, they serve more than 5000
clients across the world with 75 business solutions.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial
services company that has approximately $1.9 trillion in assets,
proudly serves one in three U.S. households and more than 10% of
small businesses in the U.S., and is the leading middle market
banking provider in the U.S. We provide a diversified set of
banking, investment and mortgage products and services, as well as
consumer and commercial finance, through our four reportable
operating segments: Consumer Banking and Lending, Commercial
Banking, Corporate and Investment Banking, and Wealth &
Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021
rankings of America’s largest corporations. In the communities we
serve, the company focuses its social impact on building a
sustainable, inclusive future for all by supporting housing
affordability, small business growth, financial health, and a
low-carbon economy. News, insights, and perspectives from Wells
Fargo are also available at Wells Fargo Stories. Additional
information may be found at www.wellsfargo.com | Twitter:
@WellsFargo.
News Release Category: WF-DAR
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Media Alfredo Padilla, 213.369.6122
alfredo.padilla@wellsfargo.com
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