J.D. Power and Associates has released the results of study that indicated that a sizeable percentage of consumers who are in weather disaster-prone regions do not have adequate home insurance coverage. The United States may be the richest country in the world, but severe weather can still threaten its people and businesses. There are two primary socio-economic issues that impact the amount of economic loss that results from this type of catastrophe. They are: value at risk and population exposure. The 2011 U.S. National Homeowners Insurance Study showed that even…
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Few homes covered by flood damage from hurricane
Hurricane Irene has homeowners scrambling to review their insurance policies to take a closer look at their coverage, but all too many are discovering that they are not protected from the damage that results from flooding during this type of storm. This is the painful reality that thousands of people are facing as they clean up their flooded basements and work to repair other damage relating to flooding. Coverage for water damage is dependent on the source of the flooding. The typical homeowners policy will cover water and structural damage…
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