【CNBC】Many homeowners have a big insurance coverage gap — and don’t even know it

• More than 70% of homeowners are likely underinsured by an average of roughly 20%, according to an analysis of insurance data by Kenneth Klein, a law professor at California Western School of Law.
• They are likely unaware of this homeowners insurance coverage gap, experts said.
• Homeowners insurance policies generally exclude or limit coverage for a variety of events, such as floods, and for specific valuable items, such as jewelry and antiques.
• Consumers may also underestimate how much the cost of rebuilding has increased.

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