Many of us saw in chilling detail, the aftermath of the recent floods on our television screens – the destruction of homes, properties and vehicles were phenomenal. Whether it’s Kerala, Maharashtra, Himachal Pradesh and several other parts of the country, time and again we have seen the destructive power of floods. Flood water can be especially damaging to cars as it can totally wreck the electrical system. If the vehicle is submerged for a longer duration it can also damage the engine, transmission and cooling systems, and of course the carpet, upholstery and interiors. According to reports, the 2018 Kerala flood damaged new car inventory worth more than Rs.1,000 crore and used cars worth thousands of crores. If that was the magnitude of car damage in showrooms, we can imagine the fate of other millions of cars parked outside homes, offices and inside parking lots. In such a situation, as a private car owner, your only saving grace is the right type of car insurance policy.
Well, it depends upon the type of car policy you have. If you only have third party insurance coverage, it doesn’t cover flood damage. But if you have a comprehensive own damage car insurance, you get flood damage coverage, provided you have been paying your insurance premium regularly. Even then, it shouldn’t be a consequential loss. But what’s a consequential loss? We’ll explain that in a while below. If your car insurance policy is due for renewal, don’t delay, especially in monsoon. Consider buying a comprehensive policy to protect your car against road-accidents, natural calamities and man-made disasters. With a car insurance available on our platform you can take advantage of cashless claims across 4000+ garages in India and enjoy up to 50% no claim bonus. If you already have a comprehensive insurance policy, here’s what you need to do if your car is stuck in a flood.
When your car is partially submerged in water, you should never make the mistake of turning on the ignition. Doing so will short-circuit your car’s entire electrical system or lead to engine seizure. Another big problem with turning on the ignition when the car is waterlogged is that the damage caused by this action is termed as consequential loss. Such damages are not covered by your regular comprehensive car insurance policy unless you have bought engine protection cover which comes with extra insurance premium. Consequential losses, whether intentional or by accident, resulting from an action by the policyholder or a third-party are not covered under a regular vehicle insurance policy.
Here is a step-by-step guide on how to claim car insurance online.
Don’t delay while filing a claim for your flood-damaged car because there will be many people filing insurance claims during a flood. If you stay in a flood prone area and are ready to shell out a little extra premium, buy engine protection cover so that you don’t have to deal with claim rejection arising out of consequential loss. Go for an insurer with a high claim settlement ratio such as Bajaj Allianz car insurance available on Finserv MARKETS. With in-house settlement, round-the-clock assistance, and fast and easy settlements, a policy trusted by millions of customers in India. To know more on Car Insurance and related topics in depth, you can check out these blogs:
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