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May tornado damage will reach nearly $140 million in insurance claims, state agency predicts

  

JEFFERSON CITY, Mo. — Deadly and catastrophic tornadoes that swept Missouri, including the capital city, in May have resulted in nearly $140 million of damage in filed insurance claims, according to the Department of Insurance, Financial Institutions & Professional Registration (DIFP).

Insurance companies reported the number of claims filed related to tornado damage and the monetary settlements for those claims to the DIFP. The data suggested the insured losses are expected to reach about $139 million. 

More than 2,900 claims related to residential property were filed by the end of June, the most of any other types of claims. Losses paid for residential properties have totalled more than $29.3 million thus far. Additionally, more than 1,200 personal auto claims have been filed, resulting in nearly $6 million in losses paid. 

More than 500 commercial property claims have resulted in nearly $16.4 million in losses paid; more than 102 commercial auto claims caused about $602,000 in losses paid. 

“I want to thank the Missouri insurance industry for their immediate response to the needs of the consumers in our state following the tornado events in May,” Chlora Lindley-Myers, DFIP director, said in a statement. “Their immediate actions have played a crucial role in helping those affected recover from their losses and resume their lives. 

More than 60 percent of claims have already been closed, including nearly 70 percent of residential property claims, according to the DIFP. 

Earlier this week, President Donald Trump approved a disaster declaration for 20 counties in Missouri suffering from tornado or flooding damage. 

Those in one of the designated who have sustained damage or losses because of the natural disasters after April 29 can register for assistance at www.DisasterAssistance.gov or by calling FEMA’s toll-free number (1-800-621-3362).