More worryingly, the majority of surveyed homeowners severely underestimate the potential cost of hurricane and flood damage. When asked, over 50% of survey respondents estimated that the average home would require less than
- Homeowners In High-Risk States Believe They're Prepared For Hurricanes, Despite Taking No Action: Homeowners from the riskiest coastal states demonstrated a lack of urgency in preparing to deal with the consequences of a hurricane. Of the over 500 homeowners surveyed in the 19 states most at risk for a hurricane, 77% "felt prepared" for the 2019 hurricane season. However, about 48% of these respondents also revealed that they had not yet started preparing for hurricane season, which lasts from June to November every year.
- Homeowners Believe Weather Professionals Exaggerate the Risk of Hurricanes: 43% of respondents who live in high risk states said that weather professionals exaggerate the risk of hurricanes, compared to the 30% of respondents who lived in the rest of the country. A further 56% of the surveyed homeowners said they were reluctant to evacuate their homes, and would only leave if evacuation were mandatory (as opposed to recommended). Most worryingly, 1 in 10 homeowners said they would not evacuate at all.
- Homeowners Grossly Underestimate The Frequency Of Hurricanes: As the peak of the 2019 hurricane season is underway, the
National Oceanic and Atmospheric Administration(NOAA) updated its forecast to predict five to nine hurricanes in the Atlanticbefore the end of November. Data shows the majority of hurricane seasons to date had an average of six hurricanes. Yet, nearly half of all survey respondents predicted that the United Stateswould experience no more than three hurricanes in 2019.
- Homeowners Don't Realize How High The Cost of Hurricane Damages Can Get: When asked how much money they thought it would cost to repair the average home after a hurricane or flood, 52% of the surveyed homeowners guessed that the sum would be less than
$10,000. This figure is several times smaller than the average claim filed during recent hurricanes - which ranged from $30,000(Hurricane Irene) to over $100,000(Hurricane Harvey). More worryingly, in high-risk states, 45% of homeowners said they didn't know how much hurricane-related insurance they would need in order to be protected against the financial fallout of a hurricane.
To understand homeowners attitudes towards the 2019 Atlantic Hurricane Season, ValuePenguin analysts commissioned Qualtrics to conduct an online survey of 1,050 homeowners in America, with the sample base proportioned to represent the general population of homeowners. The survey was fielded in early
To view the full report, visit: https://www.valuepenguin.com/hurricane-prone-homeowners-substitute-confidence-for-preparedness
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