How to Use Jewelry for Emergency Cash – Houston Storm Strikes
When tropical storm Bill made landfall in southeastern Texas this past June, it cast devastation along its path of destruction. Even though Tropical Storm Bill was downgraded to a Tropical Depression, the storm still brought heavy winds, rising coastal tide levels, and heavy rain. This caused severe flooding that engulfed streets, highways, and damaged homes and businesses. Tropical storm Bill didn’t stop there. It continued inland making its way to Oklahoma and Kentucky where it turned from a tropical depression to a post-tropical cyclone. The storm dissipated into the northeastern states, but the destruction remained.
Tropical Storm Bill Estimated Damages
To give an estimated value to the devastation, BBVA Compass economists have predicted that the recent floods in the Houston area alone break down to the following:
- Housing: $29 million-$61 million
- Vehicles: $13 million-$19 million
- Value added: $150 million-$450 million
- Sales tax revenues: $3 million-$8 million
- Other: $6 million-$13 million
Many of these are expense burdens that are placed on individuals with limited cash flow. One might think that insurance reimbursements would cover it all, and that it would come immediately. Unfortunately, that isn’t always the case.
The Need for Cash…Even with Insurance
Insurance reimbursement for natural disaster situations are dependent on the type of insurance coverage that a homeowner chooses to purchase. If a homeowner has decided to purchase coverage with a higher deductible, then the deductible is withdrawn from the total claim amount that would be given to rebuild. Even with insurance reimbursement on its way, emergency cash is still needed immediately for everyday expenses, such as food, bottled water, transportation, lodging, and clothing. In this day, individuals are not accustomed to keeping large amounts of cash on hand given a high dependency of electronic modes of payment. During such storms, electricity may go out for days which will prevent cash withdrawals from banks, ATMS or merchant point of sale systems. With so many aspects of cash flow working against them, storm victims need to seek out alternative to feed their cash inflow to make ends meet for the time being.
How to Get Emergency Cash Quickly
When you are strapped for cash, an age old option still exists. Look to your investments that you have made through the years – your fine jewelry, any precious metals or stones, even that antique silver platter. All these are can be sold for emergency cash at any time, however these assets seem increasingly valuable during critical times.
Diamond Buyers is here to help those that find themselves in critical cash situations. Our appraisal services are free, take only 30 minutes to complete, and we pay you in cash immediately. The entire in-store evaluation process is confidential, and is conducted right in front of your eyes. The evaluation does not obligate you to sell your items.