The recent Neptune Consumer Survey of Flood Risk Awareness, a national survey conducted in partnership with the University of South Florida, uncovered three areas of misconception that have resulted in dangerously low homeowner uptake of flood insurance across the country.
This has resulted in high financial losses to unprotected homeowners, over reliance on public sector workers and programs to recover, as well as a slower economic recovery in the affected areas.
The results reveal three major challenges:
- significant underestimation of flood risk by consumers
- perception of higher than actual cost of insurance
- lack of awareness of private flood market options
Download this report for details of the survey results.