Tornadoes blamed for homeowners insurance increase - KMOV.com

Tornadoes blamed for homeowners insurance increase

(KMOV) – Home insurance rates are on the rise after the Missouri Department of Insurance stated an increase of 5% after 2011’s tornado season. 

Some residents in Bridgeton whose homes were struck by the Good Friday tornado say the increase is well worth the expense because the added protection helps homeowners rebuild after natural disasters.  

"I'm more than willing to pay more than what my premium is because without the insurance we had, we would've been absolutely devastated,” said Terry Hayes, whose home was demolished by the tornado.

Others aren’t so sure.

"We went through enough not to have to go through other increases,” said Ron Chenault of Beaverton Drive. He said his insurance rates actually dropped 10% a few months ago. 

"I filled out paperwork to change my policy with moving back in and so far from what it said it's cheaper,"  Chenault said.

For Illinois residents, insurance officials won’t say whether premiums are going up later this year.

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