Tornadoes Raise Home Insurance Rates in Missouri

Even Missouri residents who lived nowhere near last year’s deadly tornadoes are writing bigger checks to insure their homes. The state Department of Insurance reports that premiums increased 5 percent between July 2011 and last month. The figure is based on an analysis of rates charged by insurers covering 80 percent of homes. The St. Louis Post-Dispatch reported that although insurers used to be more worried about hurricanes on the coast, tornadoes have been getting more attention as they cause more damage. The worst of last year’s tornadoes was the massive one that hit Joplin, killing 161 people and destroying much of the city.