Colo. Spring Hailstorms Leave Hefty Price

July 16, 2004

Mother Nature left her calling card in Colorado Springs recently—dents, broken windows and battered roofs.

In fact, based on the number of claims filed so far, the insurance industry estimates that the July 9th hailstorm will result in more than 9,000 claims totaling $28.2 million in insured damage. This estimate includes approximately 5,600 auto claims and an additional 3,400 homeowner claims. This is an early estimate that may change as more of the claims the property/casualty industry continue to come in .

Some companies have brought in special catastrophe teams and have set up drive up claims centers to help speed up the settlement process.

“Unfortunately the damaging hail that we’re seeing in Colorado this year is more on track with what we generally expect during a typical Colorado summer,” said Carole Walker, executive director of the Rocky Mountain Insurance Information Association. “While we have escaped with several light hail seasons over the past few years, the state usually averages 3-5 damaging hail storms during the peak months of June and July.”

Colorado Springs’ last significant hailstorm was June 19, 2002, when another Friday hailstorm swept through the city and resulted in about $24.1 million in insured losses. Denver got pummeled last month with its worst hail damage in more than a decade—racking up $146.5 million in claims for cars and homes.

Colorado ‘s most costly hailstorm was a 45-minute hailstorm that pounded the Front Range on July 11, 1990 with $625 million in insured damage.

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