Next Wednesday marks the one-year anniversary since the start of the massive Black Forest Fire. The blaze scorched over 14,000 acres, destroyed around 500 homes and killed two people.
The non-profit Rocky Mountain Insurance Information Association says after revised estimates of loss, the fire is now the second-costliest wildfire in state history.
RMIAA director Carole Walker says the initial estimate of $292 million has been increased to $420 million dollars in losses.
“The Black Forest Fire was our most destructive in terms of structures loss, and our 2nd most costly in terms of insured losses. We always do an insured damage estimate in the initial weeks after the fire," said Walker. "But when we're one year out, when most of the insurance claims are what we would consider closed, we do another snapshot."
2012's Waldo Canyon Fire remains the costliest fire in state history at $453 million. Walker says residents in fire prone regions need to be prepared for the cost of a wildfire, and have a proper inventory of their personal items in case their home is lost.