WARREN, N.J., March 5 (UPI) -- Despite Hurricane Katrina's devastation, a U.S. survey says most Americans are not very concerned about buying flood insurance for their homes.
Only 14 percent of U.S. adults say they have purchased flood insurance for their primary residence, says a survey of 700 homeowners, conducted by Opinion Research Corp. for the Chubb Group of Insurance Cos.
Eight percent of those who had flood insurance purchased it following hurricanes Katrina, Rita and Wilma. Ninety-one percent said they already had flood insurance and did not purchase more coverage following the hurricanes.
"Chubb's survey clearly shows that, other than some better educated individuals with higher incomes, many Americans are risk takers when it comes to protecting their homes, valuables and financial well-being from flood damage," said Eric Pruss, senior vice president of Chubb & Son.
