How Much Flood Damage Will A Regular Comprehensive Car Insurance Cover?

With the monsoon season fast approaching, are you wondering about flood damage and insurance for your car? Here is what you need to know about the coverage and claim process of a comprehensive auto insurance policy if your vehicle suffers flood damage.

Without additional add-ons, comprehensive car insurance only covers losses from natural disasters like cyclones, earthquakes, floods, and more.^

 For instance, an automobile engine failure caused by water entering the engine is seen as a consequential loss. *

^Claims are subject to terms and conditions set forth under motor insurance policy.

Amount Of Flood-Related Car Damage

In flood, an automobile may be inundated up to the bumper, the dashboard, or the roof. Your automobile will sustain only little damage if water gets up to the bumper level; a professional may easily fix it. Call the insurance provider right once and give them the specifics of the damage if the car is submerged up to the dashboard or roof.* The engine, upholstery, electronic control module (ECM), electronic components, and all car lighting could be damaged in both situations.

What Actions Should A Car Owner Take If Their Vehicle Is Submerged?

To settle claims, car insurance policyholders must supply the insurer with the necessary paperwork. Therefore, insurance firms advise taking numerous photos or films of your flooded car and keeping them close at hand.

How Much Of The Damage Is Covered By Your Standard Comprehensive Auto Insurance?

If you have a typical comprehensive auto insurance policy, it will cover every component of the car. The car insurance policy’s exclusions and limitations, however, apply to this.

In the event of flood damage, insurance companies typically cover two scenarios:

  1. a) when the car is washed away,
  2. b) when water enters the car and damages internal components or the cabin, as explained by experts.

The compensation depends on how old is the (used) car and the years of use. The vehicle will be designated as a total loss as specified in the policy if the repair cost exceeds 75% of the insured declared value (IDV) of the vehicle. *

Why The Car Owner Is Responsible For Depreciation

The actual market value or depreciated worth of any part is typically the sole amount covered by standard comprehensive auto insurance. For instance, an automobile that is four years old would no longer be worth as much as a new car because of depreciation. The components of cars would also fall under this concept. Subject to policy exclusions, the insurance company will reimburse you only for the depreciated value of damaged auto components that require replacement.^

^Claims are subject to terms and conditions set forth under motor insurance policy.

A car insurance premium calculator is a tool you may use online to determine the coverage required based on your needs.

The extent of flood damage coverage provided by a regular comprehensive car insurance policy depends on the terms and conditions specified in the policy. Typically, such coverage encompasses various aspects of damage caused by flooding, including both exterior and interior harm to the vehicle. However, the specific details of coverage can vary between insurance providers and policies. So it’s crucial for policyholders to review their policy documents and consult with their insurance company to fully understand the extent of their coverage in the event of flood damage.

*Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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