Extreme weather damage is leaving homeowners with long-term household debt, Hippo report finds
Hippo Holdings released its third annual Extreme Weather Report, based on a survey of 1,047 U.S. homeowners, highlighting the long-term debt burden caused by weather-related home damage. Half of homeowners paid out of pocket for weather damage in the past three years, and 22% of those who paid are still carrying debt from it; nearly 80% are not financially prepared for an unexpected weather-related repair.
Key figures
- Survey respondents
- 1047
- Pct paid out of pocket
- 50%
- Pct cannot recall deductible
- 55%
- Pct not financially prepared
- nearly 80%
- Pct still carrying debt of out of pocket
- 22%
AI analysis
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