COLORADO SPRINGS, Colo. - The initial estimate of insured losses from the Black Forest Fire is $292.8 million, according to The Rocky Mountain Insurance Information Association.
The RMIIA said 3,630 home and auto claims have been filed so far. The assessor's office said 486 homes were lost in the fire, which was sparked on June 11.
While the Black Forest Fire is considered the most destructive fire in Colorado history for the number of homes lost, it is the second most expensive wildfire in insured losses.
The Waldo Canyon Fire in Colorado Springs last year had $453.7 million in insured losses from approximately 6,648 claims.
"There are likely a number of factors that play a role -- Black Forest is more rural and wooded with a wide variety of property types ranging from large, multiple structure home sites to single family dwellings and cabins. Waldo Canyon is an urban neighborhood and densely populated, which would likely add up to more overall damage claims," according to the RMIIA.
The estimates do not include commercial losses.