Insurance News: Colorado Springs "Hail Bomb" Storm Carries $352.8 Million Insurance Price Tag

From: The Rocky Mountain Insurance Information Association Contact: Carole Walker, Executive Director, RMIIA (303) 790-0216 or Mobile (303) 601-8437

Follow RMIIA on Facebook and Twitter for the latest insurance and safety news.

August 22, 2016 – Thousands of Colorado Springs residents have spent the past several weeks cleaning up and meeting with insurance adjusters after a July 28 storm pounded vehicles and roofs—causing wide-spread damage that pelted the area with golf and tennis ball-sized hail. The storm caused an estimated $352.8 million in insured losses resulting from 84,500 auto and homeowners insurance claims filed so far. The damage estimates include 51,300 car insurance claims adding up to more than $164.6 million and 33,200 property insurance claims at more than $188.2 million. The estimate ranks this storm as the state's 4th most expensive hailstorm (6th in 2015 dollars) and Colorado Springs' 2nd most costly catastrophe after the Waldo Canyon Fire which resulted in an estimated $470 million dollars in damage.

"This is yet another reminder from Mother Nature of why Colorado is now ranked 2nd 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."

Colorado Hail Preparedness Toolkit

Hail, wind, fire or flood damage to vehicles is covered if you carry comprehensive insurance on your auto policy.

How to file an auto claim

Homeowners insurance covers damage from hail, fire and wind. Property damage resulting from rising water is covered by a separate flood insurance policy.

How to file a property claim

Insurance company claim contact information

Colorado's Most Costly Hailstorms

No Roof Scams Campaign: A group of nonprofit, government and business organizations are working together to fight roofing contractor fraud in Colorado with a new public education campaign called No Roof Scams.

The campaign's goal is to sound an alarm during severe weather season about the spike in roofing fraud and arm Colorado homeowners with information to protect themselves against being victimized by roofing scams. Help us spread the word by using #NoRoofScams and sharing anti-fraud advice, resources and messages.

#NoRoofScams News release

The National Insurance Crime Bureau/RMIIA Colorado Springs hail roofing fraud video

Log on to www.rmiia.org for more information.

###

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.