New Chubb Survey Measures Ownership Behaviors and Attitudes of U.S. and Canadian Homeowners and Renters
Fifth annual survey of respondents identifies risks in home purchasing, financial investment, and renovation choices
According to the fifth annual survey, 44% of
"Water continues to be an overlooked risk, and homeowners and renters should always be prepared for the unexpected as water can accumulate and cause severe damage," said
Additional key findings include:
- 53% of
U.S. and Canadian homeowners and renters experienced a loss or unintended damage to their home during recent renovations. - 25.3% of
U.S. and Canadian homeowners and renters have purchased a home sight unseen; 20.3% considered purchasing a home sight unseen within the past two years. - 64.8% of
U.S and Canadian homeowners and renters who purchased in the past two years found areas of concern in the home after purchase. - 50.9% of
U.S. and Canadian homeowners surveyed have purchased a home within the past two years, with more than half (54.7%) of those significantly influenced by mortgage/interest rates in the home purchasing decisions. - 35.2% of
U.S. and Canadian homeowners purchased a secondary/vacation home in the past two years, with 77% purchasing for personal pleasure and 21.5% purchasing as an investment vehicle. - Homeowners and renters in the
Southern U.S. (24.3%) andWestern U.S. (20%) said the frequency/severity of tornadoes contributed to their decision to sell primary or secondary residence(s). Similarly, 15% of homeowners and renters who lived in theSouthern U.S. would consider selling their primary or secondary residence(s) due to the frequency and severity of tropical storms/hurricanes.
"Water damage, along with natural catastrophes and a competitive residential marketplace with constrained availability of homes and supply chain issues, are just a few concerns facing homeowners and renters today," added Robic. "Individuals should work with a knowledgeable agent or broker and carrier to help them prepare and protect their residences."
For more information, download the Chubb 2021 Homeowners Risk Report – Trends in Home Renovations and Water Damage, the Chubb 2021 Homeowners Risk Report – Trends in Purchasing Behavior, and the Chubb 2021 Homeowners Risk Report – Impact of Weather on Property Decisions.
About the Survey
This is the fifth survey by Chubb measuring
Conducted by Dynata, a leading global provider of first-party consumer and professional data, the survey was fielded in the
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company
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