Home Insurance Quotes
Wildfires igniting more home insurance claims in West
While wildfires continue to rage in Arizona and Colorado, so have home insurance claims. The Iron Mountain, Coal Seam, Missionary Ridge, and Hayman fires in Colorado have an estimated insured loss of $79.3 million according to the Rocky Mountain Insurance Information Association (RMIIA). The Rodeo-Chediski wildfire in Arizona will cost insurers about $120 million in insured property losses, according to the Insurance Services Office (ISO).
As damage estimates mount from each fire, Colorado is clearly in the midst of the most costly wildfire season in its history, says Carole Walker, Executive Director of RMIIA. The Arizona wildfire has produced more than 6,000 insurance claims, according to the ISO.
State Farm says it's received 420 claims from the Colorado fires, 72 of them being total losses. The Arizona fires have generated 688 claims to State Farm. More than 50 of the claims are total losses and there are fewer than 30 auto claims.
Allstate has received 432 claims from the Arizona fires, 45 of which are total losses. Claims estimates for the Hayman and Missionary Ridge fires in Colorado are nearly $4 million.
The Rodeo fire in Arizona has so far resulted in 29 home insurance claims for USAA. USAA has received 20 home insurance claims for the Coal Seam, Missionary Ridge, and Hayman fires in Colorado.
Farmers Insurance Group expects the Hayman and Missionary Ridge fires to cost it between $10 million to $15 million in claims.
American Family Insurance Group has received 260 claims from the Missionary Ridge fire and predicts damages to be about $3.9 million.