Insurance estimates put Black Forest Fire costs at nearly $300 million
DENVER — The Black Forest Fire caused almost $300 million in damage a consumer insurance non-profit estimates.
The Rocky Mountain Insurance Information Association released the preliminary insured damage figure Monday. It said the wildfire is the most destructive in Colorado history with $292.8 million resulting from approximately 3,630 homeowner and auto insurance claims filed so far.
The Black Forest Fire destroyed 511 homes and damaged 28. It burned for over a week consuming almost 15,000 acres.
In June, the RMIIA updated the monetary losses for last year’s Waldo Canyon Fire and the High Park Fire. Waldo Canyon remains the most expensive fire in state history, with updated insured loss damages of $453.7 million from approximately 6,648 claims. The High Park Fire is now estimated to have cost $113.7 million with 1,293 total claims.
“Wildfire continues to exact a tragic and financial toll on our state,” said Carole Walker, Executive Director of the Rocky Mountain Insurance Information Association. “But insurance catastrophe adjusters have been on the ground since the first evacuation notice, and the industry is prepared over the long-term to help impacted residents recover and communities rebuild. The industry has many resources available to help Coloradans work through the claims settlement process.”
The RMIIA also warned fire victims to be cautious of disaster fraud.
Headline-capturing natural calamities often attract door-to-door salesman representing clean-up or repair companies. While many of these are reputable, some are less scrupulous and may perform substandard work or use inferior materials.AlertMe