A 2020 update indicates that 30 million U.S. residents do not have health insurance. This at least decreased from the 48 million identified as uninsured in 2010. However, the number of uninsured Americans has risen by about 2 million in the first half of 2020 as opposed to in 2016. Figures here don’t even account for senior citizens who might not have health insurance. Young adults, blacks and Latinos, or Medicaid-deficient state residents and low-income people often remain uninsured.
Disaster insurance remains a hot topic. More homeowners who suffered the effects of hurricane Ida did have insurance that covered damages than when Katrina or Harvey hit. Still, even the portion of 2009 Ida victims with flood insurance as reported in 2021 only totaled 40-50 percent. This left hundreds of thousands of people without flood coverage, which equaled more than $27-$40 billion in Louisiana personal or commercial damages not paid for by insurance policies in 2009.
Only about 41 percent of U.S. people occupying a space they pay for had renter’s insurance in 2016. Tenants might also not realize that their landlord’s property insurance doesn’t cover a renter’s personal belongings. The landlord might not know what kind of insurance their renters need either.
A study conducted by the non-profit Insurance Research Council reveals that one in eight persons driving in the U.S. did not have automobile insurance. This figure from 2019 includes a 12.6-percent nationwide uninsured motorist rate. The burden rested on insured drivers, who in 2016 covered more than $13 billion in either underinsured or uninsured coverage after accidents.
Uninsured motorist insurance percentages vary drastically by state, however. For instance, Mississippi had a little more than 29 percent, but New Jersey only had a little more than 3 percent of uninsured drivers. Conversely, Michigan had a decrease of 10.1 percent, and Delaware a decline of 2.9 percent.
Part of the reason so many small businesses might not have commercial insurance is because of the complicated nature of it. Some policies might not cover all that business owners thought it would. About 80 percent of non-corporate proprietors either rely on personal insurance or do not have any insurance that covers business losses and liabilities at all. Others might think they have adequate coverage but do not.
In 2021, about 52 percent of U.S. citizens or residents have life insurance. Only about 30 percent of those people say they have enough to cover burial or “final” expenses. In 2019, about 37 percent of people say they have enough life insurance to replace income.