With many US homeowners still struggling with the damage to their property from the 2019 winter season, a new report shows a failure to take precautions.
The ValuePenguin by LendingTree poll reveals that just 38% of homeowners whose homes experienced significant damages last winter have completed and paid for appropriate repair work.
More than 6 in 10 of those who experienced damages are still paying off damages or haven’t started repairs at all.
Snow-related home damage affected 22% of those in the West, 17% in the Midwest, and 16% in the South.
But despite the risk of winter property damage and the potentially high costs, 44% to 47% of homeowners in the West and South said they wouldn't be taking any steps to prevent winter damage, compared to just 26% of Midwesterners and 30% of Northeastern residents.
Although freezing pipes is a common risk, just 54% of respondents said they would be taking precautions and less than 50% said they would take measures including cleaning gutters of debris, sealing windows and doors against heat loss, removing branches near the home's exterior, and inspecting fireplaces and chimneys.
While many homeowners may believe that if the worst happens, their insurer will cover the cost, the report found that many insurers’ terms and conditions allow them to reject claims where there is proof of a homeowner neglecting to carry out proper maintenance.
The full report is at: https://www.valuepenguin.com/winter-weather-survey
More market update: