TREE - Over 50% of Americans Worry About the Financial Implications of a Natural Disaster According to a ValuePenguin.com Survey

Over 60% of homeowners in hurricane-prone areas don't have or don't know if they have flood insurance.

PR Newswire

NEW YORK , Sept. 15, 2021 /PRNewswire/ -- Natural disasters have Americans more than worried about just climate change. Some fear a natural disaster or emergency could financially devastate them. Especially as emergencies and natural continue to pile up.

According to a survey conducted by ValuePenguin, over 50% of consumers fear that an emergency or natural disaster would be too expensive for them to afford.

Key findings:

• More than half of consumers worry about the financial implications of a natural disaster . 54% of respondents don't think they could afford the costs of such emergencies, especially millennials (60%).
• 67% of homeowners in hurricane-prone states don't have or don't know whether they have a flood insurance policy, even though flooding isn't covered under a standard homeowners insurance policy . Likewise, 66% of homeowners at risk of earthquakes don't have a separate policy.
• 52% of consumers who experienced a natural disaster say they weren't as prepared as they could have been . Americans 55 and younger are most likely to regret their lack of preparation.
• Americans are least prepared for earthquakes and wildfires . On the other hand, extreme heat and winter storms are the disasters for which consumers feel most confident about their preparedness.
• Consumers aren't prepared for emergency evacuations . 6 in 10 Americans either don't have an emergency evacuation kit (50%) or don't know if they have one (10%). And 53% of pet owners don't have a fleshed-out plan for their pet should they need to evacuate.

View full report: https://www.valuepenguin.com/how-prepared-are-americans-for-emergencies

About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com , like our Facebook page, or follow us on Twitter @ValuePenguin.

Media Contact:
Nadia Gonzalez
Nadia@LendingTreeNews.com

SOURCE ValuePenguin.com