Home Insurance. Thursday , March 01st , 2018 - 10:45:50 AM
But even with eye-opening photos of these disasters populating our phones, computer screens and newspapers, there still seems to be a sense of complacency among consumers when it comes to taking action to ensure they are properly covered in the event a natural disaster hits their own home. Given the prevalence of natural disasters in 2017, Clearsurance published a report after surveying 1,000 participants to learn if they have taken any steps in the last six months to uncover possible insurance gaps.
The trouble with this logic is that although many believe their insurance policy will properly cover them, in reality many will not be properly covered when disaster strikes. Take Hurricane Harvey for example. Approximately 70 percent of the flood damage from Hurricane Harvey was uninsured, according to CoreLogic, a leading source for flood and disaster risk data.
The outcome of these disasters — many uninsured and underinsured consumers — should serve as a call to action for insurers. They must do more to educate consumers on what is not protected against losses in the policies they purchase.
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