Why You Need to Insure Your Car Against Floods

Why You Need to Insure Your Car Against Floods

In India, the monsoon season lasts for 3–4 months and accounts for around 75% of the country’s yearly rainfall*. As a result, rivers discharge a lot of water, which results in widespread flooding during this time. Among natural calamities, floods are also the most frequent tragedy in India.

The heart of a car is its engine. When floods happen, water can get into vehicles and damage the engines, which can be very expensive to replace or fix. You can avoid this loss if your car insurance gives you enough coverage for engine damage.

India’s floods –

Major floods are witnessed by the Ganges-Brahmaputra-Meghna basins, which also carry 60% of the nation’s total river flow. According to the National Flood Commission, roughly 40 million hectares of India are vulnerable to flooding. Every year, flooding affects an area of approximately 8 million hectares.*

* Standard T&C Apply

The calamity, which cost over 20,034 crores in losses, is ranked as the eighth-most expensive natural disaster of the year. Hence it is essential to find a car insurance policy that can protect you from times like these and provide you with easy claiming options for quicker help.*

* Standard T&C Apply

Claiming Requirements:

  • Auto engine –

The heart of a car is its engine. Waterlogging in vehicles during floods may cause severe engine damage, which is expensive to replace or repair. You can avoid this loss by having adequate coverage with decent car insurance prices against engine damage.

  • The car’s interior –

Floods can ruin the upholstery and other car interiors in addition to the engine. Additionally, you are eligible for coverage on replaced parts with no deductions. However, in the event of replacements, the value can be correlated with the replacement value per the surveyor’s report.

 

How Can Car Insurance Cut Down on Your Flood Losses?

  • India has two types of car insurance policies: third-party liability and comprehensive coverage. 
  • Third-party liability insurance is required and protects the vehicle’s owner from loss, harm, or death brought on by a third party.
  • The comprehensive cover is an optional insurance policy that provides the vehicle’s owner with financial protection against damage brought on by unanticipated risks like floods, earthquakes, and other natural and man-made calamities.
  • This plan covers almost all consequential losses from flooding the insured vehicle.

A comprehensive auto cover plan is always the better choice between the two because it offers protection from all the critical hazards, including:

  • Ageing of the car, in general
  • Services for wear and tear
  • Depreciation and significant casualty
  • Electrical and mechanical failure

Even if you take all the precautions, you could still be in a challenging scenario during floods. As a result, purchasing comprehensive auto insurance from a reputable company is advised. Checking with the help of a car insurance premium calculator online to find ideal rates that don’t burn a hole in your pocket is also a good idea.

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.

Josephine

Josephine