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Alabama residents cope with being underinsuredPosted On Fri, May 20, 2011
While many Mississippi and Louisiana residents are surrounded by a wall of water, other residents in bordering states are picking up what's left of their homes after tornadoes swept through much of the south last month. But some are finding that they don't have enough home insurance to make up for all that was lost.
This is the plight for Hackleburg, Alabama, resident Phil Campbell, who told Florence-based newspaper the Times Daily his insurance policy will cover half of what it will cost him to rebuild.
"Ten years ago, I was all right on the insurance," said Weeks in an interview with the paper. "I was under-insured is what it was. I didn't update [the policy] like I should. It was my fault just trying to save money."
The Times Daily says there are no official number stating how many Alabama residents are uninsured, but the Alabama Department of Insurance told the paper the figure is likely higher than the national average, which is 8 percent.
Home insurance agents and companies are known to remind policyholders to review their plans to make sure they're current, thus avoiding situations reminiscent of Campbell's.
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