Survey Shows Most US Households Lack Full Insurance on Valuables

One-in-three American homeowners lack home or contents insurance coverage, a new survey shows.

The survey included more than 3,000 Australians, Americans and Canadians, asking people which items in their homes were most valued financially or sentimentally, and whether those items have a level of insurance coverage.

Of the 1,000 Americans surveyed, 30.2% said that none of their valuables were covered by a home or contents policy, 29.4% said that some but not all of their valuables were covered and 7% said they were unsure, according to the study conducted by Compare the Market Australia.

Roughly one third (33.3%) had home or contents insurance coverage for all of their valuables.

In order of importance,14.1% of respondents said they cherish their family photo albums, 13.9% said personal documents were most important and 13.1% said their cars in their houses were the most important items.

Many people in the survey were concerned about fire damage (24.6%), robbery or burglary (18.2%) and flood or water damage (15.1%).

More Australians (42%) said all of their valuables were insured, while 37% of Canadians said all of their valuables were insured.