U.S. Homeowners Urged to Update Home Insurance Policy
RISMEDIA, Dec. 18, 2007-After a six-month study, Americas Watchdog and its Homeowners Consumer Center have just released results showing that most Americans are under insured with respect to replacement cost related to personal contents in their home. Even worse most U.S. homeowners have no clue as to what their homeowners insurance policy even covers, if there were to be a loss. Americas Watchdog is urging all homeowners to contact their insurance agent to review the coverage aspects of their homeowner’s insurance policy.
The homeowner’s insurance survey was conducted with more than 1,000 US homeowners participating. This group covered every region of the U.S. The Homeowners Consumer Center discovered the following when it came to homeowners, and their homeowners’ insurance policy:
Question: When is the last time you checked your homeowner’s insurance policy for needed updates?
Within the last year—— 5
Within the last three years ———72
Not since the home was purchased——- 1042
Question: Do you live in a flood plain?
Yes ——–275
No———- 473
Don’t know—— 371
If you do live in a flood plain do you have flood coverage?
Yes —–225
No——- 31
Not applicable/Don’t know or I am not sure ———–863
When was the last time you updated your homeowner’s insurance policy for contents coverage such as jewelry, computers, home electronics, antiques, etc?
Within the last year—— 5
Within the last three years ——–56
Not since the home was purchased ———1058
In the event that you lost the use of your home, do you have “loss of use insurance coverage” that would pay for rent while your home was being repaired?
Yes ———117
No ———–11
Don’t know or I am not sure———— 991
For more information, visit http://Homeownersconsumercenter.com