Aurora homeowners can take steps to reduce damage risk from extreme weather events

Amidst a rise in severe weather events and natural disasters across the country and in northern Illinois, six in 10 homeowners are worried they won't have enough money to repair their homes if damage occurs, according to a survey from COUNTRY Financial. One in eight Americans (12%) say they have experienced property damage from severe weather over the last three months, and more than one-third (37%) say they haven't had damage but are concerned it will happen.

Rising costs of repairs and labor are a concern for eight in 10 homeowners, and half fear they don't have enough insurance coverage to cover home repairs.

"In light of increasing severe weather events and costly repairs, setting up a review with an insurance agent is important. This way, you can make sure that your planning and protection needs are met and prevent future losses," said Brandan Kopf, Aurora COUNTRY Financial representative.

For COUNTRY Financial, in northern Illinois, one extreme weather event back on April 4th has resulted in 7,930 claims year-to-date including 985 in Aurora, 600 in Oregon and another 453 in Montgomery. Of the overall claims from this event, 7,688 (97%) are now closed with payments made to insureds. Payments also are being made to other insureds impacted by this storm.

Even though homeowners report feeling concerned about damage occurring to their homes, few are taking steps to reduce their risk. According to the survey, approximately:

• Four in ten (38%) are performing regular home maintenance tasks.

• One in three (33%) are putting money aside for an emergency fund, which can help to cover insurance deductibles or minor home repairs.

• Two in five Americans have not taken any action to prepare.

As part of disaster preparedness, COUNTRY Financial recommends asking your insurance agent the following questions:

• "What type of home insurance coverage do I have?" You can purchase home insurance to pay Actual Cash Value (ACV) or Replacement Cost Value (RCV), which can have a significant impact on your claims recovery.

• "What is my deductible?" Most home insurance policies include a deductible which is the amount of the loss you will be responsible for paying.

• "How do I handle any updates I made to my home since we last talked, and what steps should I take to mitigate losses?" Did you renovate your kitchen, finish a basement, or replace your roof? It's important to share that information with your insurance agent. Some improvements may even earn you a discount on your home insurance. As you're making updates to your home, look for opportunities to reduce your risk from future damage.