✉news BusinessPersonal Finance first seen 14 h ago, last 40 min ago, peak #1
Many homeowners unaware of major insurance coverage gap
Original: Many homeowners have a big insurance coverage gap — and don't even know it
Many American homeowners are underinsured without realizing it, leaving a significant gap between what their homes are worth and what their insurance policies would actually pay out after a disaster. Rising construction costs and home values have outpaced policy limits, meaning claims after fires, storms or other damage could fall far short of rebuilding costs, and experts urge homeowners to review their coverage now.
Why now: Concern over rising premiums and recent extreme weather is prompting homeowners to question whether their coverage is adequate.
homeownersCNBCinsurance industry
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