More than $170 million worth of insurance claims made from Jefferson City tornado damage
JEFFERSON CITY, Mo. (KMIZ)
Jefferson City residents made more than $170 million worth of insurance claims following the May 22 tornado.
The data from the Missouri Department of Insurance shows that insurers made more than $122 million worth of payments from those claims.
Line of Insurance | Claims Reported | Claims Closed With Payment | Claims Closed Withou Payment | Losses Paid | Losses Incurred |
Residential Property | 3,014 | 1,870 | 647 | $43,847,764 | $50,652,043 |
Commercial Property | 645 | 332 | 119 | $44,202,988 | $80,869,867 |
Business Interruption | 50 | 15 | 6 | $2,971,767 | $5,027,063 |
Personal Auto | 1,213 | 1,013 | 137 | $7,695,197 | $8,536,314 |
Commercial Auto | 112 | 80 | 18 | $17,811,929 | $17,942,179 |
All Other Lines | 160 | 113 | 33 | $6,188,184 | $7,561,623 |
Totals | 5,194 | 3,423 | 960 | $122,717,830 | $170,589,089 |
Data shows that 84 percent of claims submitted have been closed. People made the most claims for residential work, which led to more than $43 million in payments. Insurers made the most payments for commercial work at $44 million.
Those insurance payments will help Jefferson City residents and business owners rebuild following the EF3 tornado on May 22. The city's building department, though, has yet to see half of the properties damaged come to the city to obtain permits for work. A review of permit data and inspections done by the state's SAVE Coalition shows that about 40 percent of properties listed as damaged have requested a permit to either rebuild or demolish. Building officer Larry Burkhardt said he expects to see more work come through his door.
"Right now, they have to finance the repairs or make a decision as to what to do, fix them up or demolish their properties," Burkhardt said.
The city entered into an agreement with the city of Columbia's building department to help when needed. Either city can request the help of the other in the event of a disaster to help review building plans when submitted.