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Survey Finds Gap Between Home Protection Concerns And Consumer Actions

NORTHBROOK, Ill., July 22, 2014 /PRNewswire/ -- Nearly all homeowners (90%) are concerned about protecting their homes, yet haven't valued their possessions in years – let alone documented what they have. And while the majority say they know the value of their big-ticket items like TVs and stereos, most forget about things like home decor, area rugs and appliances, not to mention mundane possessions like bedding and bath towels, according to a recent survey from Allstate.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/players/English/7278351-allstate-protect-it-or-lose-it-2014/

To help homeowners prepare, Allstate is launching the "Protect It Or Lose It" campaign that reminds people about the importance of knowing the value of all of their belongings – even the smaller things that can add up to financial losses.

"Every day, our Allstate agency owners help their customers fully understand their needs, assess all the potential risks in their lives, and help them prevent those risks from happening in the first place," said Sanjay Gupta, executive vice president of marketing, innovation and corporate relations, at Allstate Insurance Company. "The Allstate Protect It Or Lose It campaign engages and empowers consumers to accurately value their possessions, and provides the tools to help consumers better prepare for unexpected losses."

Award winning actress and accomplished singer Kristin Chenoweth knows all too well how even everyday household items can add up for families after helping with disaster relief last year. "I've seen firsthand what it's like to have to start over through my disaster relief work over the years and especially with the devastation last summer," said Kristin Chenoweth, spokeswoman for the Protect It Or Lose It campaign. "I'm excited to partner with Allstate and encourage people to take steps to make sure they are protected so that if the worst happens, they are covered."

As summer weather heats up and vacation travel season is in full swing, it's important to note the top five most common causes of homeowner insurance claims, according to Allstate:

  • Windstorm and hail
  • Water (including air conditioning leaks)
  • Home break-ins and thefts
  • Fire
  • Lightning

Local Concerns

  • The most worried homeowners hail from the South Atlantic states, where 41% say they are extremely concerned about protecting their homes.  
  • But in the wild-fire prone West, only 28% of respondents care that much, according to the survey.   

Generational Gaps

  • In addition, Millennials are more likely to value their possessions every one to two years (at least the more expensive ones), but are less informed about what kind of protection they have. Less than half (47%) know their minimum deductible and fewer still (40%) know any details about their current coverage.   
  • Homeowners over the age of 55, on the other hand, are more aware of the value of typical household items, but are most likely not to have documented anything (56%).

Beginning in July and continuing through October, Allstate is traveling across the country to show homeowners the importance of protecting all of their possessions.The Protect It Or Lose It tour will host fun, educational events in 10 cities across the country. Each event includes a live game show, digital games, fun photo opportunities and the chance to win exciting prizes.   

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