How much can insurance cover for a flooded car worth 100,000 yuan?
2 Answers
If you have purchased the no-deductible coverage, the insurance company will fully compensate. Without the no-deductible coverage, the insurance company will only cover 80%-85% of the repair costs. Below is relevant information about the water damage insurance: 1. Concept: Water damage insurance, also known as automobile loss insurance or engine special loss insurance. 2. Main coverage: It mainly covers compensation for engine damage caused by driving through waterlogged roads or being submerged in water. Additional auto insurance coverages include full vehicle theft insurance, standalone glass breakage insurance, vehicle stoppage loss insurance, spontaneous combustion insurance, and vehicle water damage insurance, among others. Of course, insurance companies vary, and their terms may differ slightly. You can review the terms of each insurance company when purchasing insurance.
My car was also flooded a few years ago. At that time, it was worth about 100,000 yuan, and I had purchased comprehensive insurance that included flood coverage. After the insurance company came to inspect it, they said the car, which was 3 years old, was actually worth just over 70,000 yuan, so they compensated me 70,000 yuan. Repairing it wasn’t cost-effective, so it was directly scrapped. If I hadn’t bought the flood insurance, they would have only covered basic repair costs, which would have been a huge loss. Remember to take photos and videos as evidence immediately, and don’t start the engine to avoid making things worse. Since then, I’ve been more careful during rainy days and avoid driving through flooded areas. You can’t skimp on insurance money.
