Insurance rates in Missouri to rise after troublesome year of natural disasters.

Missouri residents can expect to see higher rates for their homeowners insurance in the coming months thanks to the major disaster that struck the town of Joplin early last year. On May 22, 2011, a massive tornado rolled through Joplin, causing unprecedented damage throughout the town causing many businesses to shut down and leaving nearly a third of the town uninhabitable. The tornado cost the state millions of dollars in insured losses, and now insurers are looking to recovery some of that money. Several insurers have proposed rate hikes between…

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