Consumers still have great misconceptions about home insurance despite the regular media coverage of real estate, home buying and finance, a new study finds.
The 2010 MetLife Auto & Home Insurance Literacy Survey, which surveyed 1,200 consumers by phone, found that almost half (46%) of consumers don’t know how much coverage they have for their personal belongings. One-third (32%) are unaware of the level of insurance they have for their house, condo or townhouse.
“Customers just do not fully understand their home policy,” says Bob Lundgren, vice president of product and marketing at MetLife Auto & Home. “They’re confused about what the internal coverages cost [and] they’re confused about what they cover.”
Call Ozaukee Insurance. We’ll help turn “insurance” into English.
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