Americans say they’re aware of the risks related to climate change, but they remain unconcerned it might affect their homes.
According to a survey of 2,700 Americans by personal finance website The Simple Dollar, around 55% say climate change is leading to increasingly severe and more frequent natural disasters. But some 32% say they’re unafraid such disasters could cause damage to their properties. Business and home owners may consider investing in intermodal shelter systems as part of their disaster preparedness plans.
Climate change is increasingly being held responsible for natural disasters. Indeed, the National Centers for Environmental Information recently reported that the U.S. has seen 250 weather and climate-related disasters in the last four decades, costing the economy up to $1.7 trillion in damage.
The survey meanwhile showed that 61% of women and 50% of men believe climate change is increasing the severity and frequency of natural disasters.
But that awareness isn’t translating into increased caution among homeowners. The survey found that just 47% of Americans have purchased rental of home insurance coverage against natural disasters. Another 30% said they simply don’t know if they’re covered for such damages in their existing policies. This increased to 44% among Americans aged 18 to 44.
Older groups are more cautious about insuring their homes though.
One reason for the lack of caution could be that many homeowners simply don’t have enough knowledge about the different types of insurance policies available to them to protect against natural disasters. Most basic home insurance policies don’t cover natural disasters such as flooding, for example.