Homeowners are also willing to spend more than $1,000 to prepare their homes against hurricanes, but a majority have no plan ahead of this year's hurricane season, according to a recent survey.
Homeowners can take steps to prepare their homes against hurricane damage, yet many still need to do so, a recent survey said. In 2023, 47% of respondents said they had no plan to strengthen their homes against hurricanes, according to the Federal Alliance for Safe Homes survey. Moreover, 59% of respondents said they do not have a plan against what is brewing to be a very active hurricane season this year.
The first step for homeowners should be to check if they have enough coverage, according to a report by the Insurance Information Institute. Rising inflation has increased the costs of fixing damage or replacing a home. For some homeowners, rising costs could bring the nasty surprise that they are underinsured. Being underinsured means owning an insurance policy that only covers a portion of losses in a claim, often because of exclusions or coverage limits.
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