Talking Points
- Earthquakes, flooding, and unexpected deductibles are just a few of the costs a homeowners policy might not cover, but most Americans do not realize it.
- According to a MetLife Auto & Home Insurance Literacy Survey, many homeowners are clueless about the ins and outs of their policies, which means they could easily end up paying a lot more than they expected after damage to their home.
- Almost half the homeowners in the MetLife survey didn’t know how much insurance coverage they had for the contents of their home, and 1 in 3 didn’t know how much their home was insured for.
- MetLife warns that this “knowledge gap” can lead to costly surprises and recommends that homeowners review their policies more closely.