67% of home and auto policyholders say covering an unexpected $1,000 expense would be a struggle.
One-third of policyholders who have filed an insurance claim say their coverage fell short of expectations.
Experts say building an emergency fund and regularly reviewing your insurance coverage can help you prepare for unexpected costs.
An unexpected home or car expense can put a serious strain on a household budget, especially at a time when many Americans are already juggling higher everyday costs.
A new survey from VIU by HUB suggests that a $1,000 surprise expense could be more than many policyholders can comfortably handle.
The survey found that 67% of people with home or auto insurance say covering an unexpected $1,000 expense would be a struggle. And for some consumers, the financial pressure doesn’t end there: One-third of policyholders who have filed an insurance claim say their coverage fell short of what they expected.
ConsumerAffairs spoke with Jeff Wilcoxon, Senior Strategy and Corporate Development Principal at VIU by HUB, to learn more about these findings, how consumers can start saving today, and more.
The survey
The VIU by HUB Insurance Experience Survey was conducted online by The Harris Poll on behalf of VIU by HUB from June 16-18, 2026. The survey included 2,087 U.S. adults ages 18 and older, including 1,663 people who have home or auto insurance.
The survey points to a number of financial and coverage concerns among policyholders. Here are some of the key findings:
About two-thirds (67%) said covering an unexpected $1,000 home or auto expense would be a struggle, including 21% who said it would be a serious hardship or significant struggle.
Among those who have filed an insurance claim, 33% said their coverage fell short of expectations, with 14% saying none of their claim was covered
Forty-one percent said they haven't made any changes to their homeowners or auto insurance in more than a year.
20% haven't made changes since they first purchased their policy.
88% said they would value an insurance provider that proactively lets them know when their coverage no longer fits their needs.
Building an emergency fund
With nearly 70% of those surveyed saying they wouldn’t be prepared in the event of an unexpected $1,000 expense, Wilcoxon emphasized the importance of building a strong emergency fund.
“Start by looking at the expenses you'd be responsible for after an unexpected home or auto incident,” he said. “That means understanding your policy's deductibles, reviewing whether your coverage limits still reflect today's repair and replacement costs, and identifying any gaps that could leave you paying out of pocket. From there, you can set a savings target that accounts for those potential costs.
“The best advice is to work with an insurance professional who can help you understand the nuances of your coverage, address gaps proactively, and plan for any outside expenses to make sure your emergency savings and insurance work together.”
The importance of reviewing your policy
Another key finding from the survey was that 65% of people think switching insurance policies is too time consuming. However, Wilcoxon explained that taking the time to regularly review your policies can be beneficial for a few reasons.
“There are really two things keeping people from reviewing their coverage,” he said. “First, many may assume a review means shopping every carrier from scratch, so they put it off. But it’s simpler than that. It’s checking whether your limits still match what it actually costs to rebuild your home or replace your car today, since material and labor costs have climbed over the past few years.
“Second, some people have felt stuck with the coverage they have. In tighter markets, options narrowed, so shopping felt pointless. That’s starting to loosen and having an independent insurance advisor who can check multiple carriers on your behalf makes it easier to see what’s actually out there now.”
This becomes especially important during different life stages, like home renovations or even taking in an aging parent.
“Renovations can increase the value of the home itself, while taking in an aging parent or adding another household member can affect personal property, liability, and other coverage needs,” Wilcoxon said. “Reviewing with an insurance expert can help assess the changes, identify potential gaps or unnecessary costs, and present options that fit your new lifestyle.
“The goal is simple: making sure your insurance keeps up with you, rather than leaving you to figure it out when something goes wrong.”