WEATHER RISK ISN’T “SOMEONE ELSE’S PROBLEM,” SAYS TRIPLE-I – TAKE AN UMBRELLA, PEOPLE!
- Ignorance of Weather Risk: 60% of homeowners admit to taking no steps to prepare for weather risks, despite the fact that it can affect everyone. (Clearly, we’re a trusting bunch!)
- Perceptions Drive Actions: Triple-I Chief Insurance Officer Dale Porfilio noted that two-thirds of survey respondents don’t expect to be affected by weather risks in the next five years. (Why worry? It’s just weather, right?)
- Flood Insurance Availability: Flood coverage is generally available but might be perceived as costly. Some insurers may hesitate to offer coverage in frequently flooded areas. (Well, water you gonna do about it?)
- Awareness and Preparation Matter: Among those who understood their flood risk, 78% purchased flood insurance. The Triple-I survey in coordination with Munich Re provides valuable insights into homeowners’ perceptions and behaviors. (Knowledge is power, especially when it’s raining cats and dogs!)
Weather risks are like that annoying friend who shows up uninvited – nobody wants them around, but they’re going to show up anyway! While two-thirds of the survey participants are wearing rose-colored glasses, believing weather risks won’t affect them, the facts are clear: weather doesn’t discriminate. Sure, it might seem expensive to get flood insurance, but have you ever tried mopping up a flooded house with paper towels? Trust me, it’s a bucket-load of trouble! So, next time you decide to ignore weather warnings, remember: the weather has a way of raining on your parade (literally). Better keep that umbrella handy!
Weather Risk, Triple-I, Homeowners, Flood Insurance, Weather Channel, Perception, Preparedness, Federal Emergency Management Agency, National Flood Insurance Program, Munich Re