Survey Shows Hundreds Were Underinsured In 2007 Wildfires
LOS ANGELES -- Hundreds of people who lost homes in last year's California wildfires did not have enough insurance to cover rebuilding costs.
A United Policyholders consumer organization survey released Friday shows that three-fourths of 274 wildfire victims polled were underinsured.
And only 46 percent of those in the survey settled claims with their insurance companies. Only a third of those say they were offered enough money to cover increased construction costs.
California Insurance Commissioner Steve Poizner says his department believes the responsibility of ensuring a home has sufficient coverage lies with both the homeowner and the insurer.
The wildfires destroyed nearly 2,200 homes last year in Southern California.
