The High Park and Waldo Canyon fires will cost insurers at least $449.7 million dollars. That鈥檚 according to a released by the , an industry trade group.
The group鈥檚 Executive Director Carol Walker says insurance adjusters are still working with residents and many claims remain incomplete.
鈥淐laim numbers will likely go but it鈥檚 a good first snapshot of where we are in terms of insured losses for these two major fires鈥�
The near Fort Collins destroyed 259 homes. So far, 850 insurance claims have been filed and insurance costs are estimated at $97.1 million.
鈥淚t has been a devastating season but certainly not anything the insurance industry can鈥檛 bear. The good news in all this devastation is that, if you have insurance, wildfire is something that鈥檚 covered in a standard homeowners, renters or business insurance policy.鈥�
These preliminary figures also indicate that the will be the most expensive in state history in terms of insured losses. To date, 4,300 claims have been filed totaling $352.6 million.
鈥淲e are really just at the start of this process. Up to a year down the road to get a final idea of total insured losses will be.鈥�
These estimates do not include commercial losses.
The near Boulder that destroyed 160 homes in 2010 was previously the most expensive in Colorado鈥檚 history in terms of insured losses reaching $224 million when adjusted for inflation in today鈥檚 dollars.
