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$147M In Insurance Claims Expected From Storms

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May 27, 2008 4:02 pm US/Mountain

$147M In Insurance Claims Expected From Storms

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WINDSOR, Colo. (AP) ― Insurance industry officials said they expect $147 million worth of claims from last week's deadly tornadoes and hailstorms in northern Colorado, making it the fourth-most-costly storm in state history.

State officials said the tornadoes destroyed nearly 80 homes and damaged roughly 770 others. Oscar Manchester, 52, was killed at a campground near Greeley.

The Rocky Mountain Insurance Institute said Tuesday that it expects a total of 20,000 claims: 8,000 property claims and 12,000 vehicle claims.

Damage to homes in Thursday's storms ranged from glass and roof damage to houses ripped from their foundations.The estimated 12,000 auto claims include hail dents and destroyed vehicles.

Homeowners insurance covers damage from tornadoes, wind and hail, while damage to vehicles is covered if owners carry comprehensive car insurance.

Multimillion-dollar hail storms are common in Colorado, but past tornadoes haven't done the same kind of damage, said Carole Walker, executive director of the Rocky Mountain Insurance Information Association.

Before last week, Colorado's most costly tornado did an estimated $20 million in damage in Limon in June 1990. Insurance officials said the storms that tore through parts of Larimer and Weld counties were the costliest-ever outside the Denver metro area.

Federal officials Monday approved the state's request for federal disaster aid, making available help with temporary housing and grants and low-cost loans for home and business repairs not covered by insurance.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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