Flood Damage Insurance: Is Your Insurance Good Enough To Cover Damage To Your Car And Home? Full Details

Flood Damage Insurance: The monsoon season offers respite from scorching heat but also brings significant challenges, such as flooding and waterlogging, that further lead to property and vehicle damage. As one sits inside a home, they might notice damp walls and leaking roofs. Outside, vehicles can get stuck in waterlogged streets. A common question that arises is whether your home or car insurance will cover these damages.

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Home Insurance: What's Covered?

If your house is in a flood-prone or high-risk area, having comprehensive home insurance that covers all your personal property becomes even more critical. Home insurance typically covers two main aspects:

Structure: This includes the physical assets of your house, such as walls, roof, or basement. An insurance policy would cover the "structural" part in case of an emergency, such as fallen walls, broken roofs, or water entering the basement due to a sudden event.

Household Items: Your furniture and electronic goods are also covered under your policy if damaged by insured perils.

Note: Dampened walls resulting from gradual damage due to prolonged exposure, or general damage due to the age of the walls are generally not covered by insurance policies.

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Vehicle Insurance: What's Covered?

If your vehicle is submerged in water or if its engine is completely waterlogged, a basic third-party insurance policy will not suffice. For such incidents, you need "Engine Protection Cover." Comprehensive insurance typically covers the following two things:

Own Damage: This covers damages incurred by your own vehicle.

Third-Party Liabilities: This covers damage to another vehicle or person involved in an accident.

Note: If insurance officers find that you tried to start your waterlogged vehicle while it was submerged, your insurance claims will likely be rejected.

Flood Damage Insurance: Key Things To Keep In Mind While Buying An Insurance Policy

To ensure you're adequately protected, keep these key points in mind when purchasing an insurance policy:

- Read the terms and conditions carefully: Go through the company's terms and conditions thoroughly before finalising any insurance policy.

- Opt for floods and other natural disasters coverage: Make sure your policy includes specific coverage for floods and other natural disasters.

- Add engine protection: If you are opting for comprehensive vehicle insurance, ensure it includes engine protection. Read the policy documents carefully before any confirmation.

- Gather proofs for claims: In case of damage, you must gather accurate information, photos, and videos as proof when making a claim.

Insurance experts emphasise that having the right coverage in place can help you avoid significant losses due to rain-related damage. Without proper insurance, one could face substantial out-of-pocket expenses.