A quarter of US homeowners (26%) said they are financially unprepared for extreme weather events, according to Bankrate, which surveyed a nationally representative sampling of nearly 1,300 homeowners at the end of July.
Those most likely to say they were unprepared lived in the South (29%), the West (28%) and the Northeast (25%).
While the majority of homeowners surveyed did have insurance, they don’t necessarily know whether it is adequate to cover the kind of extreme weather their area now faces.
“Extreme weather has changed the insurance landscape, and understanding your home insurance policy coverage is more critical now than ever,” said Shannon Martin, a Bankrate analyst who specializes in insurance.
“Many insurance companies have reevaluated how they rate extreme weather, and some have changed the perils they are willing to cover.
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