Missouri has been hit very hard by stormy weather in the last twelve months, including two tornados hitting St. Louis, one in Sedalia, and one of the most horrific on record hitting Joplin. In addition to the tornados, there have been tens of millions of dollars of damage from other hail storms throughout the state.
When a series of catastrophic weather events hit a single state (and many nearby states) in a relatively small amount of time, insurance companies react. They will not all react in the same fashion, but they will all react. At Thomas Insurance Advisors, we feel that over the next twelve to twenty-four months, homeowners insurance companies may be raising premiums, raising minimum deductibles, or begin depreciating the value of roofs at time of claim. We predict that most will raise premiums.
Your 2012 homeowners insurance renewal may be the perfect time for a homeonwers insurance reveiw.