American Homeowners Are One Disaster Away from Losing Everything
2 days ago
- #Homeowners Insurance
- #Housing Inequality
- #Risk Exposure
- Approximately 14.4% of US homeowners lack insurance, equating to 12.2 million uninsured homes.
- Uninsured rates vary significantly by race: 22% for Native American, 14% for Hispanic, 11% for Black, 6% for White, and 5% for AAPI homeowners.
- Income is a key predictor: 15% of homeowners earning under $50k are uninsured, rising to 22% for those below the poverty line, compared to 3% for those earning over $150k.
- Older homeowners generally face higher uninsured rates, except among White homeowners, where older adults are slightly less likely to be uninsured.
- Rural homeowners have a 12% uninsured rate, higher than the 7% in other metro areas, with Miami at 15% and Houston at 10% facing high climate risks.