Many U.S. homeowners are missing important insurance protections, offering opportunities for agents to educate insureds on increasingly essential coverages.
A new survey commissioned by The Hanover Insurance Group found many homeowners are exposed to growing risks, such as lawsuits, cybercrime and inflation—and they may not even be aware of the risk or that protections are available.
- Cyber insurance had the lowest awareness levels, at 46%, and only 7% of homeowners had coverage.
- 83% of homeowners are aware of umbrella insurance, but only 39% have talked with their insurance company or agent about this coverage.
- 94% have heard of recreational vehicle insurance, but only 31% have talked with their insurance company or agent about this coverage.
Similarly, many homeowners assumed standard policies offered more protection than they do, underscoring the importance of adding things like valuable items to policies.
“Homeowners face a growing number of risks that aren’t addressed by a basic homeowners policy, making it all the more important for customers to talk with their agents about their evolving risks and build insurance plans that can help protect them, their income and their assets,” said Daniel C. Halsey, president of personal lines at The Hanover.
Opportunities for Agents
“These findings highlight the critical role independent agents play in educating homeowners and helping them make informed decisions,” Halsey said.
Growing relationships, providing educational resources and proactively discussing available coverage are all steps agents can take to help homeowners fill the gaps in their coverage.
For example, the survey found that after umbrella coverage was explained to homeowners, two out of three unprotected homeowners would be interested in umbrella insurance, and likely open to a conversation with their insurance agents about this coverage, with almost a quarter being “very interested.”
Customer Service and Client Education
The report found that customer service is vital for homeowners when selecting insurance, with 81% rating it as “absolutely essential” or “very important.” In comparison, only 58% said the lowest price was their top priority. Customer expectations are anchored in a critical need for trust and service, and they are open to additional services from agents, including education and risk assessment.
Agents can use this knowledge to broach new coverages with their insureds. When asked about key homeowners’ coverage, most homeowners said their agents had not approached them about coverage or offered education. Eighty-seven percent said they had not been offered information about cyber insurance or risk, while 61% said the same about umbrella coverage.
Even those who are aware of certain coverages, such as protection for valuables (87%) may only sign up for coverage with additional education. Despite high awareness, only 26% of homeowners surveyed carried additional coverage for valuables.
The survey findings also reinforce the value that homeowners place in having a single insurance company for all their policies, where they can get a high level of customer service and work with one team for all their needs.
“Keeping coverage together with one carrier can also help more easily identify potential gaps, and provide a more consistent customer service experience,” said Halsey.
This also provides other benefits, such as discounts for bundling policies, and the convenience of having one login and one number to call in the event of a claim.
Read the new survey commissioned by The Hanover Insurance Group, Inc. and conducted by The Harris Poll: The Hanover’s 2025 Homeowners Coverage Awareness Report.
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