Many Americans invest heavily in their homes but lack proper protection. A recent study from online lending platform LendingTree shows that 11.3 million owner-occupied homes in the U.S.—about 13.6%—are without insurance, leaving them vulnerable to extreme weather events.
New Mexico has the highest rate of uninsured homes at 23.3%, followed closely by West Virginia at 23%, and Mississippi at 22.9%. Among the largest metro areas, McAllen, Texas, has the most uninsured homes. There, 43.3% of homes are uninsured. El Paso, Texas, and Miami follow behind McAllen, with 23% and 21% of homes without insurance, respectively.
According to Bhatt, homeowners in these states may overlook crucial risks. “Wind and hail damage is the most common homeowners insurance claim,” he says, “Of the top three states, this is especially true in Mississippi. Wind and hail damage is covered by standard homeowners insurance in most parts of the country. However, you have to buy windstorm coverage separately in some of Mississippi’s coastal areas.” Read more
