2020 Triple-I Consumer Poll

U.S. motorists get insurance relief; homeowners make strides in disaster preparation, but still lack understanding on coverage

The Triple-I 2020 Consumer Poll: U.S. motorists get insurance relief; homeowners make strides in disaster preparation, but still lack understanding on coverage was conducted in July 2020, as the nation was coping with the COVID-19 pandemic, and many states were experiencing some phase of non-essential business closings and stay-at-home orders.

Many auto insurers offered a wide variety of benefits to consumers — premium credits, partial refunds, forgiveness of late payment and more. While most motorists were aware of the programs, the Triple-I believes that the percentage of those offered some type of relied could be even higher.

Homeowners are protecting their properties against disasters like flooding and hurricanes at a higher rate than previously reported, a welcome development as the 2020 Atlantic hurricane season got off to an early start and is expected to produce a higher-than-average number of storms. And homeowners who live in areas that are likely to experience a hurricane say that they are preparing more when forecasts predict an average or above-average number of storms. However, the poll also found that greater consumer understanding on insurance coverage is still needed. Details on take-up rates for flood, earthquake and renters insurance are also included.

 

 

 

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