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Rocky Mountain Insurance Information
NEWS
6565 South Dayton St. #2400, Greenwood Village, Colorado 80111
Serving Colorado, New Mexico, Utah & Wyoming
Contact: Carole Walker, Executive Director
(303) 790-0216 or 1-800-355-9524
Release Date: Immediately
Topic: Catastrophes
DENVER HAILSTORM PACKED MUCH BIGGER PUNCH THAN FIRST THOUGHT
November 5, 1998 - The preliminary insured damage estimate for the out-of-season hailstorm that pummeled the Denver-metro area on October 16 was about $30 million too low. The final industry estimate comes in at $87.8 million in insured property damage.
The $87.8 million estimate breaks down into $27.3 million in damage to insured homes and personal property and $60.5 million in damage to insured personal autos. The hail surprised everybody, and many policyholders didn't immediately realize they had damage. Now more than 28,000 insurance claims have been filed, making this the seventh most costly hailstorm to hit Colorado.
All of Colorado's seven most costly hailstorms occurred in the Denver-metro area (which makes sense, because that's where the largest concentration of property in the state is located):
- $625 million in insured damage occurred on July 11, 1990.
- $276.7 million in insured damage occurred from June 13-14, 1984.
- $225 million in insured damage occurred on October 1, 1994.
- $128 million in insured damage occurred on August 11, 1997.
- $122 million in insured damage occurred on May 22, 1996.
- $100 million in insured damage occurred from May 30 - June 2, 1991.
- $87.8 million in insured damage occurred on October 16, 1998.
Rocky Mountain Insurance Information Association is a non-profit, non-lobbying consumer information organization. Affiliated with the Insurance Information Institute, RMIIA has been serving consumers and the media since 1952.
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Rocky Mountain Insurance Information Association is a non-profit consumer information organization. Affiliated with the Insurance Information Institute, RMIIA has been serving consumers and the media since 1952.
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Updated:
February 28, 2007 1:52 PM
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