A survey from Chubb has found that the majority of homeowners underestimate the likelihood of disability, especially during retirement years, and the impact it can have on their everyday life.
The Chubb survey found that close to half of homeowners (44 percent) said they were not prepared to care for themselves or loved ones with a serious illness, disability, or simply aging in place. Among their top concerns, more than a third (38 percent) of homeowners said that they were worried about the need for home renovations in the event they or their family member became disabled, whether due to accident, illness, injury, or another cause.
After the survey, Chubb announced a new complimentary accessibility consultation service intended to give existing Chubb homeowner clients advice on how to make their homes more accessible, without compromising structural integrity or diminishing value.
“Our team of national risk consultants has been trained by some of the leading accessibility experts in the country, including specialized architects,” Jennifer Naughton, executive vice president for Chubb's personal risk services, said in a statement. “Leveraging their expertise in design and accessibility, our risk consultants can advise clients on home design elements that might impede accessibility and how to retrofit accordingly.
“Coupled with the fact that 10,000 Baby Boomers turn 65 each day and that Chubb's survey found 72 percent of homeowners want to remain in their home as they age, addressing existing home design elements that might hinder long-term accessibility is paramount,” added Ms. Naughton.
Chubb said that its “Masterpiece” homeowner policyholders “have access to vetted, trusted professionals, such as architects, designers, and licensed contractors, who can assist them with making their home more accessible and beautifully designed.”
“Accessible design renovations may require meaningful financial investments from clients. Our risk consultants can assist agent and broker partners to help them understand the exact replacement cost value of their clients' investments to ensure they are fully protected,” said Ms. Naughton.
Learn more: chubb.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].