Report Shows Homeowners Aware of Risks, But Few Take Action

Awareness of the need for greater home safety is on the rise, but many U.S. homeowners are still vulnerable to risks like water damage, wind, hail, and fire, according to a new report from The Hanover Insurance Group.

Many homeowners know the risks, but they still are not properly informed on how to handle them, and not enough are taking action, the report shows.

A majority (79%) of homeowners say they are aware of the benefit of water sensors, and a 76% are aware of automatic water shutoff devices. However, only 16% have installed sensors and only 13% have added shutoff systems, according to the report.

A similar pattern is shown when it comes to wind and hail damage: 61% of homeowners are informed about fortified roofing, and 59% are aware of the benefit of wind-related garages. However, only 17% have upgraded their roofs and 10% have installed wind-rated garages.

According to the report, severe weather has become a bigger concern among homeowners, making it more important to have fortified home protection. Fortified roofs can help prevent claims during major storms, and help lower the claims from major weather events.

The good news is that more homeowners are checking in on their roofs. The past year saw a growth from 38% to 57 % in homeowners reporting they checked their roof’s condition. Sixty percent of owners reported that they started trimming trees (20% of wind and hail claims come from by nearby trees, according to the reort.

Nearly all (99%) of homeowners say they are getting educated on smoke detectors, and 97% of them aware of the value of fire alarms. However, only 67% say they have smoke detectors installed. Fire is also one of the most expensive home claims, with the average cost exceeding $75,000, according to the report.

In the past year 62% cleaned dryer vent ducts and 57% serviced or replaced HVAC filters, the report shows.

Findings from the report include:

• One-in 60-homeowners experience a water damage loss annually.
• One-in-35 homeowners has filed an insurance claim related to wind or hail damage.
• Damage related to roofs makes up an estimated 70% to 90% of residential losses in catastrophic weather events.

The report is based on a survey conducted by The Harris Poll with more than 1,100 U.S. homeowners.