With tornadoes battering the South and Midwest this year, the federal government will soon have to pick up the tab for billions of dollars of damage in uninsured property, according to The Associated Press.
Arkansas ranks tenth most hit by tornadoes and is listed as the fourth highest for uninsured homes, per analysis by the AP.
“This means the regions that most need the insurance are often the exact places that don’t have much of it,” states the piece. “It also means many tornado victims may have a hard time getting compensated for their losses, putting more pressure on the federal government to help even though its assistance is limited by law.”
Rep. Mike Ross weighed in on the topic, telling the AP that despite the high dollars in damage, he opposes regulation forcing homeowners to pay for insurance.
Though insurance premiums in Arkansas and Missouri sit just below the national average at $788, the South still has the highest percentage of homeowners opting out of hazard insurance at 17.4 percent, according to the AP’s analysis.