Colorado Windsor Tornado Insurance Costs Total $193.5 Million

The tornado that devastated the community of Windsor, Colo., on May 22, 2008, added up to an estimated $193.5 million dollars in insured damage from approximately 24,000 auto and homeowner claims — making it Colorado’s most expensive tornado, the Rocky Mountain Insurance Information said. The final damage total went up by about $46.5 million from an earlier damage estimate of $147 million because most claims are now settled and those affected by the tornado and hail typically have one year to file insurance claims. This estimate does not include commercial claims from businesses.

Prior to this storm, all of Colorado’s most costly storms occurred in the Denver-metro area (which makes sense, because that’s where the largest concentration of property in the state is located).

Colorado’s Top Ten Most Costly Storms:

According to RMIIA, the majority of residents were able to rebuild their homes and repair damage because most had insurance coverage, but it is a vivid reminder that the unthinkable can occur in an instant and homeowners should check their policies to help make sure they have the protection they need when they need it the most.

“We are in severe weather season in Colorado when tornadoes, damaging hail and flooding most often occur and with very little warning,” said Carole Walker, RMIIA executive director. “Now is the time to be thinking about how much insurance coverage you have to repair or rebuild your home and replace your personal belongings.”

For more information: http://www.rmiia.org/Catastrophes_and_Statistics/tornado.html.