The occurrence of natural calamities is uncertain and come without any prior warning. This year’s heavy monsoon lead to floods in many cities in our country. The wrath of monsoon flooded the streets, causing damage to cars, along with the infrastructure.
Imagine looking at your car, the one that you purchased after years of saving your hard-earned income, damaged due to heavy rainfalls. However, if you have motor insurance coverage, you need not worry about financial loss caused to you due to the damage.
So, the question is - do all insurance policies provide compensation for flood-damaged cars? If yes, then what is the criteria and the process to file a claim for the same? In the below read, we will understand in detail about the coverage for flood-damaged cars and step by step guide to claim it.
Package policy Cover:
There are mainly two types of insurance coverage, third party liability only and package cover. Third party liability cover is mandatory for all vehicles and package cover also includes coverage against loss or damage to the vehicle insured. Vehicle damage cover can be taken at the owner’s choice, but it is highly recommended.
Package policies provide coverage for a flood damage.
You must remember some points when the vehicle is damaged by flood, to prevent further damage and have a smooth claims process.
- If your vehicle is inundated with water or you even suspect it has been inundated, never turn on the ignition or attempt to start the engine in any way. Also, do not attempt to push-start the car.
- Disconnect the battery if you expect the vehicle to be inundated with water or if it has been inundated.
- Contact your insurance company immediately for further assistance.
- If you are to move the vehicle, request the insurance company or the repairer to provide a tow truck.
Guide to Claim Process for Flood-damaged Car:
- Call the customer care number or claim intimation hotline of your insurance company.
- Inform your insurance provider about the car damage along with other requested details.
- You will then be given a Claim Registration Number.
- Your insurance provider will assist you in moving the vehicle to a garage.
- You will be requested to provide a claim form and a copy of your registration certificate. Other documents may be requested based on the necessity of the claim.
- A surveyor/ Garage service assigned by the insurance provider will assess the damage. After the assessment and confirmation of claim admissibility, the surveyor will inform you of the amount to be paid by the insurance company and the amount you have to bear as per the terms and conditions of your insurance policy.
- When your car repairs are completed, you can get the delivery of your car after paying your share of the repair charges. The insurance company will then settle the remaining amount to the garage.
- If your vehicle is not repairable, the company will arrange to sell the vehicle in its present condition and pay you the Insured Declared Value (IDV) amount (value of your vehicle) as mentioned in your policy. If your vehicle is under loan or leased, payment will be made to the financier.
Can you insure a flood-damaged car?
Yes, with a motor package insurance policy.
Does insurance cover rain damage?
If your car has been damaged due to heavy monsoon or floods, it is covered under a motor package insurance policy.
Is a flood-damaged car worth buying?
Yes, you will feel much safer and confident knowing that your car is covered in case any unforeseen event causes damage to your vehicle.