How worried are US homeowners about wildfire risks? – NAMIC report

  • Source: Insurance Business America
  • Published: 11/23/2022 12:00 AM

Almost two-thirds of US homeowners in fire-risk states are concerned about the risk of wildfires – yet few are actively taking steps to protect their properties, and even fewer are unsure if their current insurance coverage is enough for fire damage, a new survey by the National Association of Mutual Insurance Companies (NAMIC) has found. NAMIC commissioned The Risk Institute at The Ohio State University Max M. Fisher College of Business to conduct the survey. Nearly 600 homeowners in 10 states – Arizona, California, Colorado, Florida, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, and Washington – with an increased risk of fire were asked to participate. The report uncovered the following key findings: 59% of homeowners believe wildfire poses a “moderate” to “extreme” risk for them and their property. 63% are worried that their home will be damaged in the next three years due to extreme weather or natural disaster. Only 19% of homeowners feel certain that they have enough insurance to cover damage.



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