Colorado Hailstorm Causes an Estimated $169M in Insured Losses

June 27, 2018

Residents of Fountain and Colorado Springs spent the past week cleaning up and meeting with insurance adjusters after an unusual early morning June 13th storm pounded vehicles and roofs, causing widespread damage that pelted the area with golf and baseball-sized hail.

The storm caused an estimated $169 million in insured losses resulting from 26,000 auto and homeowners insurance claims filed so far. The damage estimates include 17,351 car insurance claims adding up to more than $104 million and 8,648 property insurance claims at more than $ 65 million.

The estimate ranks this storm as the state’s twelfth most expensive hailstorm and is the most damaging Southern Colorado storm since a July 2016 Colorado Springs hailstorm caused an estimated $366.8 million in insured losses (*2018 dollars)-the state’s 6th most expensive hailstorm.

“This is yet another reminder from Mother Nature of why Colorado is ranked #2 in the Nation for hail insurance claims,” says Carole Walker, executive director of the Rocky Mountain Insurance Information Association. “The size and amount of hail that battered Colorado Springs is unfortunately part of a pattern of catastrophic events the state has been experiencing during the past several years, so we need to be financially prepared for the unexpected-check your insurance to know what it covers, what it doesn’t and how much protection you have when you need it the most.”

Northern Colorado and the Denver-Metro area was hit by widespread, damaging hail earlier this week.

Source: RMIIA

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