How Does Insurance Cover Flood-Damaged Vehicles?
1 Answers
For flood-damaged vehicles, expenses such as engine disassembly fees, inspection fees, engine oil changes, and other repair and maintenance costs can be claimed under the auto damage insurance. If the policyholder has purchased "Special Engine Loss Insurance" (also known as "Waterlogging Insurance"), the costs for damaged engine components like connecting rods, pistons, and cylinder blocks due to water ingress can be compensated. Insurance will cover flood-damaged vehicles. Below is an introduction to insurance compensation for water-damaged vehicles: 1. Auto Damage Insurance: The comprehensive auto insurance reform, effective from midnight on September 19, 2020, expanded coverage to include theft, standalone glass breakage, spontaneous combustion, and deductible waivers. If the vehicle is deemed a total loss, the insurance company will compensate the full amount of the auto damage insurance coverage. 2. Waterlogging Insurance: "Waterlogging Insurance" is an add-on coverage and cannot be purchased separately; it must be added to the auto damage insurance. Policyholders who already have auto damage insurance can purchase "Waterlogging Insurance" as an additional coverage. This insurance has a 20% deductible rate, but if the deductible waiver is purchased, 100% compensation can be obtained.
