Three-fourths of surveyed homeowners say they know their policies do not cover flood damage, but only one-fourth say they have a separate flood insurance policy, according to the New York-based Insurance Information Institute.
Sponsored by Allstate, The Hartford, Liberty Mutual, Nationwide, State Farm and USAA, the poll also found that average insured homeowners in the Gulf and Atlantic Coast regions have taken just half the steps that would best position them to recover from a major storm.
The survey is used to create a Hurricane Readiness Index measuring eight key preparedness steps that, in addition to enough insurance coverage, include having critical documents and an inventory of possessions ready in the case of an evacuation.
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