August 27, 2018
Are you residing in a high-risk flood zone?
The devastation made by flood every year in India is manifold. The Geological Survey of India (GSI) says that the major high-risk flood zone areas of India cover almost 12.5% area of the country. Every year it causes immense economic loss to the nation. Due to the intense monsoon rains this year, some parts of India are almost submerged under water. Adding a new state to the list, the recent occurrence of massive flood in Kerala is in the headlines these days.
If you’re also residing in one of such states/cities, make sure your car insurer covers flood-related damages to the vehicle.
You will be surprised to know that car insurance covers the damages caused to the car by flood, provided you have picked a right plan. Fret not, with the compare car insurance option, you can zero down to the right amount of coverage to protect your set of wheels.
However, the main concern is- how to apply for a seamless flood damaged Car Insurance Claim. Given that, you should be aware of the following aspects and steps to experience a hassle-free claim settlement.
The Importance of Comprehensive Car Insurance
When Third Party Car insurance is mandatory in India, comprehensive coverage is optional. However, as per the insurance experts, to provide the ultimate protection, you should buy comprehensive car insurance. It covers your car in case of theft, collides, natural or man-made disasters and also provides cover against third-party liabilities. Comprehensive coverage also includes the damages that occur from the sources other than a vehicular accident. If you crash with another vehicle, that damage falls under the umbrella of collision coverage only.
However, before finalizing a plan, you should read and understand every clause and make sure it fulfills all your insurance needs. You can compare car insurance policies at various insurance aggregator websites to land on a perfect plan.
Categories of Damage due to Flood
When the vehicle is completely washed away, it is categorized into ‘complete loss’ and you can claim the complete insured declared value (IDV) of the car. However, the depreciation will be deducted. If not, the same will be counted under partial loss and you will get the reimbursement accordingly.
2.Interiors and Upholstery
Under sure thing to damage when your car is severely affected by the flood water are its interiors and upholstery. When the insurer covers the cleaning part, certain depreciation is counted in case of a replacement. The surveyor will decide if it needs a replacement or not. 50% of the depreciation is applicable on nylon or plastic parts, tubes, batteries, and airbags; 50% for tyres unless the car is damaged due to the same threat; no depreciation for glass, etc. That means you will be fully reimbursed in case the car window is broken or locks were stuck due to a short circuit.
3.Fittings and Consumables
Car AC is another thing that might get damaged due to stagnant water. If it is fitted by the company you’re safe. Conversely, you’ll not get any reimbursement unless you had informed the insurer or paid an extra premium to cover this replacement or repair. Same is applicable for the additional fittings such as CNG kit and music system.
Moreover, a standard car insurance policy doesn’t cover the repair or replacement expenses of the consumables such as nuts and bolts, lubricants clip, distilled water, bearings, oil filter, engine oil, fuel filter, brake oil, etc.
The damages can be severe if the car is submerged for several days. So, you must ensure that the car insurance policy that you hold offers coverage for the flood-affected vehicles. In this regards, the below is the rundown on how to claim your car insurance if your car is damaged due to flood water.
Steps to Claim Insurance for Flood-Damaged Car
●Immediately inform the Insurer
You should not wait for things to be settled. Inform the insurer right away. You can call them to register a claim by informing about the damages. This will help in faster claim settlement.
●Inspect the Damage
It is essential to understand the intensity of the damages caused to your car due to clogged water. This will help you act accordingly. Check if the car engine is safe or not. As we know that the submersion of salt water is more harmful than the normal water, you should check the little things that you might have missed. This will also help the insurance company to estimate the loss and settle the claim with ease.
●Keep the Claim Registration Safe
After you register the claim and inform the insurer about the damages, a unique claim registration form will be given to you. If you choose to file the claim online, then this form can be downloaded from the insurer’s website as well. A registration number will be provided which will be used for further communication with the insurer. You should keep this safe, as the insurer will identify your claim through this registration number only.
●Towing the Vehicle
Once the claim is registered, the insurer will fix a date on which the vehicle will be picked for the inspection.
●Understand the Insurance Terms
Once the insurance surveyor identifies and estimates the damages, you will be intimated about the amount to be reimbursed and the amount needs to be paid by you (repair or replacement that is not covered by the insurer).
By following these steps, you can expect a smooth and hassle-free claim settlement. However, go through the policy documents thoroughly and carefully at the time of buying an insurance plan.
Forewarned Is Forearmed
Even you own a car insurance policy, follow the necessary safety measures in advance to protect the vehicle. Identify the risk of the flood where you reside. Weigh the actual value of your car and the coverage offered by the comprehensive car insurance especially, when you reside in a flood-prone zone. This is to ensure that the insurance provider covers the devastations made to your prized passion by the flood.