The monster hailstorm that pounded Colorado’s Front Range on May8th is on pace to be Colorado’s most expensive insuredcatastrophe.
|The RockyMountain Insurance Information Association (RMIIA) isestimating the preliminary insurance losses for the hailstorm atapproximately $1.4 billion. This storm wouldsurpass the $845.5 million July 20, 2009 storm and the July 11,1990 storm, the most expensive in adjusted costs for today’sdollars.
|200,000+ auto & homeowners' claims
More than 150,000 car insurance claims and 50,000 homeowners'insurance claims are estimated to be filed. The size of the hailcaused auto damage that means many of the cars can't be driven and somepeople may have to wait months before their vehicle is fixedbecause local repair shops are "backlogged into thesummer," according to local television station9News.
Golf ball and baseball-sized hail damaged homes, cars andbusinesses when storms swept across the Front Range during the lateafternoon and early evening hours. The largest hail pelted areaswest of Denver, including Wheat Ridge, Golden and Lakewood.
|Related: Hail-related insurance claims by thenumbers
|“The enormous size of the hail hitting densely populated areasof the Denver-Metro during rush hour has contributed to themagnitude of damage caused by this storm,” says Carole Walker,Executive Director of the RMIIA. “Add to that Colorado’s populationboom, escalating costs to repair high-tech cars andmore expensive homes, the insurance price tag on our hailstorms canbe expected to continue to rise.”
|Here's a look at Colorado's 10 most costly storms, to date:
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(Source: RMIIA)
|Related: Where the hail is my estimate?
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