"Property Losses From Colorado Flood Will Be About $2 Billion"

"Property losses from flooding in Colorado will total nearly $2 billion, about half from housing and half in the commercial and government sectors, catastrophe modeling firm Eqecat said on Wednesday in the first comprehensive estimate of the disaster's economic toll."

"The projected residential property losses alone would be equivalent to more than $200 for each of the 4 million people who live in Colorado's 17 flood-stricken counties, based on 2012 census data, and most of the overall losses are uninsured, the firm said.

About $900 million is projected to come from damaged or destroyed homes, including the lost furnishings and belongings and costs incurred by displaced residents to live elsewhere until their dwellings are repaired or replaced."

Keith Coffman reports for Reuters September 19, 2013.

SEE ALSO:

"Colorado Flooding: Residents Return, But Some Find No Home" (CNN)

"Colorado's Problem Turns From Water To Sludge" (Los Angeles Times)

"Colorado To Drain Its $100 Million Road Contingency Fund To Pay for Flood Fixes" (Denver Post)

Source: Reuters, 09/19/2013