DENVER (CBS4)– The hail storm that hit Colorado on May 8 is on track to be the most expensive in the history of the state.
According to the Rocky Mountain Insurance Information Association, the preliminary losses from the storm are estimated at $1.4 billion.
That passes the previous record-setting storm of June 20, 2009 that cost $845.5 million and the July 11, 1990 storm that cost $1.1 billion, both adjusted for inflation to compare to today’s dollars.
During that storm, golf ball and baseball sized hail damaged homes, cars and businesses.
The largest hail pelted areas west of the Denver metro area including Lakewood, Wheat Ridge and Golden.
Most of the Colorado Mills mall will remain closed until the holiday shopping season begins in November because of hail damage.
“The enormous size of the hail hitting densely populated areas of the Denver-Metro during rush hour has contributed to the magnitude of damage caused by this storm,” says Carole Walker, Executive Director of the Rocky Mountain Insurance Information Association said in a statement. “Add to that Colorado’s population boom, escalating costs to repair high-tech cars and more expensive homes, the insurance price tag on our hailstorms can be expected to continue to rise.”