#underinsurance

#underinsurance

Since the 1990s, American homes have been systematically underinsured in the event that they are completely destroyed. Study after study shows that, counter to the public's understanding, many home insurance policies are not required to cover total replacement of homes. The trend, though decades old, has been somewhat hidden. But climate-driven events that cause massive destruction, especially wildfires, are revealing just how pervasive and severe the problem has become.