Homeowners Insurance in the Midwest: The Scary Statistics

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Homeowners Insurance in the Midwest: The Scary Statistics

If you’re a homeowner in the Midwest, then you know that severe weather is always a possibility. From tornadoes to severe thunderstorms to winter weather, there’s no shortage of ways your home could sustain damage. And if your home is damaged and you don’t have homeowners’ insurance, then you could be facing some serious financial trouble.

Don’t believe us? Take a look at these scary statistics about life without homeowners’ insurance in the Midwest:

1. According to the Insurance Information Institute, 1 in 4 homeowners in the U.S. does not have homeowners’ insurance.
2. In 2017, there were 1,068 tornadoes in the U.S., with Illinois, Kansas, and Missouri being among the states with the most tornado activity.
3. According to FEMA, the average cost of repairing damage caused by a tornado is $7,500.
4. In 2018, there were 903 severe thunderstorms in the U.S., with Nebraska, South Dakota, and Iowa being among the states with the most severe thunderstorm activity.
5. Repairing damage from a severe thunderstorm can cost anywhere from $2,500 to more than $10,000, according to AAA.
6. In 2018, there were flooding events in 24 states across the U.S., with Nebraska, Iowa, and South Dakota being among the states with the most flooding activity.
7. According to Travelers Insurance, the average cost of repairing damage caused by flooding is $50,000.
8. According to data from the National Weather Service, in the past 10 years, six winter storms resulted in the following damages in Wisconsin:

-January 26-27, 2016: $10.8 million
-February 1-2, 2015: $1.5 million
-November 17-18, 2014: $3.9 million
-January 3-4, 2014: $5.7 million
-February 2-3, 2013: $7.5 million
March 4-5, 2011: $4.7 million

Don’t let yourself become a statistic—make sure you have adequate homeowners’ insurance coverage before severe weather hits!

As a homeowner in the Midwest, it’s important to make sure you have adequate homeowners insurance coverage—because as these statistics show, severe weather can strike at any time and cause significant damage to your home (and your wallet). Don’t wait until it’s too late—get covered today!

NOTE:  Every insured has unique coverage needs to match their home and circumstances and speaking with your insurance agent can help you determine what is right for you.

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