Colorado’s Most Costly Hailstorms
In the wake of more than 100 tornadoes ripping through the Plains states this past weekend, the Rocky Mountain Insurance Information Association (RMIIA), a non-profit consumer information organization that represents property & casualty insurers in Colorado, New Mexico, Utah and Wyoming, reported tornado sirens were heard for the first time last week — sounding the annual alarm that severe weather season has arrived in Colorado.
*2011 estimated cost calculations based on the Consumer Price Index.
In recent years, Colorado has been on a record-breaking storm track that mirrors historic thunderstorm, tornado and hail damage across the country. Colorado severe storms have caused nearly $2 billion in insured losses during the past five years, with the 2009 season being the most expensive in history with $1.4 billion in estimated damage to homes and vehicles (RMIIA). U.S. thunderstorm losses in 2011 were 2.5 times above the 30-year average, at $25.8 billion. Average thunderstorm losses are more than five times higher than in the early 1980s (Munich Re).
Source: Rocky Mountain Insurance Information Association