Wildfire losses in Colorado pegged at $450 million

The most destructive wildfire season in Colorado’s history has resulted in $449.7 million in insured losses, according to an updated estimate by the Rocky Mountain Insurance Information Association (RMIIA).

Together, the Waldo Canyon fire in Colorado Springs and the High Park fire near Fort Collins have burned more than 600 homes in Colorado, the RMIIA said in a statement.

The Waldo Canyon fire is estimated to be the costliest blaze in the state’s history, prompting 4,300 claims and $352.6 million in insured losses, the association noted. The High Park fire resulted in 850 insurance claims and estimated insured losses of $97.1 million, the association stated. It also noted the estimates do not include commercial losses.

“The 2012 wildfire season is a heartbreaking reminder to Coloradans that the wildfire threat is very real in our state and can exact a price that is both personally devastating and costly in terms of insurance damage,” RMIIA executive director Carole Walker said.