Extreme Weather & Young Homeowners

We’re all hearing a lot about climate change. How much of the information being shared via social media sites and in news reports is factual and true, is up to debate.

True or not, the surveyors at the online insurance site, Policygenius have found 75% of homeowners between age 18 and 34 think they’re going to have their homes damaged sometime in the next 30-years from extreme weather generated by climate change.

For those over age 34, that figure is about 45% with 31% of those surveyed saying they’ve already been hit with damage from a hurricane, a tornado, a wildfire, or some other extreme weather event.

What most are most frightened by is not having enough insurance to completely rebuild their homes if they’re damaged by extreme weather. One example given by Policygenius spokesperson, Pat Howard has to do with flooding. Howard said just 21% of the homeowners they talked with have flood insurance.

“As natural disasters continue to worsen due to climate change, it’s understandable if younger homeowners are wary of the future. In 2021, there were 20 climate disasters in the U.S. that each caused over $1 billion in damage,” Howard said. “This included the unprecedented cold wave in Texas that left many homes without power and Colorado’s Marshall Fire which destroyed an entire community.”

Source link: PropertyCasualty360.com — https://bit.ly/3zrI7AV