MISSOURI -- A month packed with tornadoes and flooding has caused billions of dollars of damage in Missouri. Experts say the economic impact may be felt for years.
Insurance premiums are likely to increase for home and vehicle owners statewide. Restaurants and retail shops in flooded areas are likely to see lower sales. Utility rates are likely to rise following the EF-5 tornado in Joplin.
That twister and the others that ravaged the South are estimated to have caused a combined insurance loss of up to $8 billion. An early estimate of the Joplin twister's devastation is $3 billion.