Some Storm-Stricken Homeowners Left Insurance out of Budgets
ST. LOUIS, Mo. (KMOX) – A tough economy may have left more Missouri homeowners vulnerable to this year’s storms.
Missouri is the fourth most tornado prone state, yet a new report from the Associated Press shows not every homeowner has insurance coverage.
“It is an additional expense for individuals when they’re weighing how to allocate their family resources sometimes homeowners insurance premiums go by the wayside,” says Michael Barry with the Insurance Information Institute.
One couple in Joplin, Missouri dropped their coverage after the husband lost his job last year. Sunday’s tornado levelled their five-bedroom home.
The Missouri Department of Insurance says statewide 95-percent of homeowners have insurance coverage. In St. Louis City it drops to 77-percent.
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