Colorado Storm Losses Pegged at $320 Million While Wildfires Still Burn

Storms that ravaged Colorado in early June caused over $320 million in insured losses and making it the state’s fourth storm event on record, according to a statement from the Rocky Mountain Insurance Information Association (RMIIA).

The storms do not take into account losses from wildfires that continue to move through the state.

An estimated 69,842 claims (33,459 auto and 36,383 property) have been processed to date totaling $321.1 million from June 6 and June 7 storms in the Colorado’s northern region, according to the RMIIA.

The majority of the damage was attributed to roofs, hail damage and flooded vehicles, the statement added.

Adjusted for inflation in today’s dollars, the losses rank as the fourth-costliest windstorm event in Colorado history. A July 11, 1990, storm ranks at highest loss with an estimated $1.08 billion in insured damage while a July 20, 2009 storm comes in second costing an estimated $804.8 million, although that is the most expensive in actual claims paid

The losses do not take into account wildfires that continue to move through the state and the RMIIA says it may be some time before those losses are realized.

“Our insurance adjusters still have very limited access to the High Park fire, near Fort Collins, particularly to the areas with most of the destroyed homes,” said RMIIA executive director Carole Walker in an email response. “Currently we are just working with 248 destroyed homes from that fire and another 21 from the Estes Park blaze. Of course, we anticipate smoke damage, vehicles, other property and claims to add to the total insured costs as well.”

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