(Jefferson City, MO) — It’s been a rough year for severe weather in Missouri. Property insurance payouts (not including commercial property) are approaching $1.6 (B) billion according to the the Missouri Department of Commerce and Insurance (DCI). Multiple severe weather events including flooding and tornadoes have prompted 173,000 insurance claims so far. DCI Director Angela Nelson says it’s likely the total will exceed $2 (B) billion.

Nelson says 235 insurance companies have responded, representing approximately 99 percent of Missouri’s residential property insurance market. She says just over 80% of claims have been paid to residential property policies.

Will a year packed with multiple, damaging severe weather events automatically lead to higher insurance rates? Nelson says insurance

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