US homes not adequately insured against disasters – report
Philly Fed study says most households do not have coverage to rebuild following catastrophic damage
Most US homeowners do not have enough insurance coverage to rebuild their properties after a total loss, according to a study from the Federal Reserve Bank of Philadelphia.
“For decades, survivors of catastrophic natural disasters have routinely reported that they lack the coverage needed to rebuild their homes and expressed confusion about how their policy limits were originally set,” the working paper says.
The authors – J Anthony Cookson, Emily Gallagher and Philip Mulder – say many consumers
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