Colorado Hailstorm Carries $169M Insurance Price Tag

July 2, 2018

Thousands of Fountain and Colorado Springs, Colo., area residents were busy cleaning up and meeting with insurance adjusters after an unusual early morning June 13 storm pounded vehicles and roofs 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, according to the Rocky Mountain Insurance Information Association.

RMIIA’s 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 12th 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.

“This is yet another reminder from Mother Nature of why Colorado is ranked No. 2 in the nation for hail insurance claims,” said Carole Walker, RMIIA’s executive director. “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.”

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Insurance Journal West July 2, 2018
July 2, 2018
Insurance Journal West Magazine

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