Nearly a year after the destroyed 488 El Paso County homes, estimates of insured losses have been revised to $420.5 million from the preliminary estimate of $292.8 million released weeks after the fire.
The Rocky Mountain Insurance Information Association said the tally was based on 4,173 auto and homeowners claims.
RMIIA executive director Carole Walker said the Black Forest fire, which started June 11, now ranks as the state’s most costly fire.
The , which roared through neighborhoods on the west side of Colorado Springs in June 2012, is the state’s second most expensive at $460.3 million in insured losses resulting from 6,648 auto and homeowners insurance claims. There were 347 homes destroyed.
The claims in the Waldo Canyon fire ranged from smoke or partial damage to destroyed homes and vehicles.
The 2010 , west of Boulder, now ranks as the third most expensive fire, with insured losses of $231.8 million.
Wildfire insurance costs depend on several factors including whether the homes burned were primary residences or vacation homes; the cost to rebuild or repair the structures and the amount of insurance coverage on the properties.
