Fewer than 22 percent of homeowners view changing weatherpatterns or disasters as an important factor when updating theirhomeowners insurance policy, according to a new survey from the National Association ofInsurance Commissioners (NAIC).

With disasters on the rise, the NAIC urges consumersto consider their insurance risks and understand what is and is notcovered in their current policies.

Impact on home insurance needs

More than 800 emergency or disaster declarations were made in the United States from2005-2015, resulting in an average of $24 billion in annualinsured losses due to natural catastrophes. However,the NAIC survey revealed 56 percent of homeowners have not reviewedtheir insurance policies in more than a year and 14 percent areunsure when — if ever — they last reviewed their policies.

Research also indicates that nearly half of homeowners (44percent) have a home inventory. But of those who have an inventory,more than 40 percent have not updated it in more than a year.

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Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].