Company Says Insurance Rates Won't Rise After Disasters
COLUMBIA - Officials at Shelter Insurance said Monday the state's natural disasters will not heavily affect insurance rates in Missouri. According to Shelter's Joe Moseley, the rates charged to Missourians are determined on a 25-year period. Moseley said one year with a lot of disasters is not enough to have a raise rates in the state.
Travis Ford of the Missouri Department of Insurance said the department's responsibility is to regulate insurance companies in the state of Missouri. Ford said even though there has been a large influx of claims, his agency has not had an influx of complaints from Missouri customers.
Ralph and Peggy Moriarty were hit hard by the tornado in Sedalia and they said the insurance company has been quick and efficient. Ralph Moriarty said they got a check to help them rebuild their home one day after the storm hit.