The deadly Joplin, Missouri tornado that struck on May 22, 2011 and was responsible for ripping homes and businesses apart was also named the deadliest tornado in the United States in 65 years. Heavy winds and rain also contributed to the destruction in Joplin.
It's no wonder that there would be enormous numbers of residential insurance claims for the damage that resulted from this Joplin tornado.
This natural disaster is one of the biggest for insurance companies. Typically tornadoes in the U.S. cost insurers between $2 -$4 billion; however, this year the costs are estimated to be over $10 billion.
According to the St. Louis Business Journal, there have already been 17,000 insurance claims filed after the Joplin tornado. These are just the numbers that are being reported from the large insurance companies, which account for about 72% of Missouri's homeowner's insurance market. The preliminary numbers for tornado damage insurance claims that were reported to the Missouri Department of Insurance are as follows:
- Homeowners insurance claims: 6,149
- Commercial property claims: 1,081
- Renters insurance claims: 442
- Auto insurance claims: 8,995
- Commercial vehicle claims: 312
Governor Nixon signed an executive order that would prohibit insurance companies from canceling policies or raising their rates for Jasper and Newton counties for 30 days, and this order could be extended, if needed.
Although insurance companies are taking wind and tornado damage claims, there is no guarantee that they will give you the full compensation that you deserve. Since insurance companies are being hit hard, they will look for ways to undervalue your claim, deny part of your claim, or delay your claim. If your tornado damage claim is denied, undervalued, or partially denied, please call a skilled insurance claim attorney at the Voss Law Firm today at 888-614-7730 to schedule a free legal consultation.
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