Home Insurance. Thursday , March 01st , 2018 - 13:24:21 PM
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.
News headlines in 2017 were dominated for weeks at a time with coverage of natural disasters striking parts of the United States — from Hurricane Harvey flooding homes in Houston, to Hurricane Irma destroying houses in Florida, to wildfires decimating swaths of homes in California. All told, the costs of these incidents are likely to make 2017 the costliest year on record for natural disasters.
Given the number of uninsured and underinsured homeowners during the 2017 natural disasters, there seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
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