Many U.S. homeowners are delaying home repairs, potentially putting their property at risk of damage, according to the latest Nationwide Agency Forward survey.

A quarter of the homeowners surveyed (26 percent) are unaware that delaying necessary home maintenance can have implications for their homeowners policy.

Within the past year, 44 percent of homeowners said they have delayed performing routine maintenance tasks and 31 percent are delaying necessary renovations and repairs.

A startling 78 percent of respondents said they have deferred necessary maintenance because of inflation and rising prices.

Among those surveyed, the most common types of home maintenance or renovations that are delayed are roof repair or replacement and kitchen and bathroom remodeling.

Baby boomers (38 percent) are less likely than Gen X (50 percent) and millennial (52 percent) homeowners to delay home maintenance needs.

“As a homeowner, it’s important to protect your property from further damage when there is a known issue,” said Beth Riczko, Nationwide’s president of P&C Personal Lines. “When a claim is filed, there are many factors reviewed during the investigation that may impact whether the claim is covered, including if the insured followed policy conditions. For example, when shingles are damaged on a roof and aren’t repaired causing interior damage, there could be coverage impacts.”

In addition to putting off home maintenance, 71 percent of agents surveyed reported policyholders are reducing their homeowners coverage to save money.

The most common homeowners claims, according to agents, resulted from weather-related damage and fire damage.

Most agents reported an increase in both over the past year.

The survey found that 43 percent of homeowners have filed a claim in the past, with more than half (56 percent) were related to weather, 37 percent for water damage and 13 percent for fire damage.

More than 8 in 10 homeowners believe their home is insured to the right value (87 percent), though many remain concerned that their policy might not cover certain types of damages or incidents (54 percent) or that they may not have enough coverage in case of a major loss or catastrophe (47 percent).

“Homeowners should assess coverage needs and determine if they have enough coverage to reflect rising repair costs due to inflation,” said Riczko. “Taking proactive steps not only protects their investment but also provides peace of mind knowing they are better prepared for any challenges that may arise. It’s good practice to do an annual coverage review with your agent, to go over any updates or changes to your home or belongings and craft a policy that provides adequate protection.”

Most homeowners reported being aware of the basic coverage available through homeowners policies including fire (89 percent), liability (83 percent) and personal property replacement protection (79 percent) but continue to struggle to understand the full range of coverage options available to them.