Experts estimate $285 million in Hail Damage in CO and WY

July 21, 2011

While the American Southwest is socked in by temperatures in the triple-digits and a crippling drought, Colorado and Wyoming faced “monsoon rainfall” and hailstorms two weeks ago. The hail, in particular, has been costly, with insured losses from the falling ice totaling about $285 million, according to the Rocky Mountain Insurance Information Association.

In Cheyenne, WY, the tennis ball-sized hail that pelted the city on July 11th caused an estimated $120 million in insured losses, including 4,600 homeowners insurance claims and 15,200 auto insurance claims, though that number is still preliminary.

Much of the damage to vehicles was related to the fact that the hailstorm struck during rush hour, the Association’s executive director, Carole Walker, told the press.

In Colorado, there were 12,600 homeowners claims and 17,200 auto insurance claims for an estimated total of $164.8 million in insured losses, due to a severe hailstorm in the Denver metropolitan area on July 13th.

Walker explained that the hail season in the Mile High State runs from mid-April through mid-August, though July is the peak month.

She also said that Colorado has seen more than $3 billion in insured damage due to hail in the last decade, with the most expensive season occurring in 2009 when there were three major storms causing $1 billion in damage.

Hail coverage is generally part of comprehensive coverage for auto insurance, and may be an additional rider for homeowners insurance.