As Hurricane Harvey impacted Houston, residents remained in their homes and their vehicles remained on their property.
These vehicles were exposed to the storm flooding. The insurance industry expects Hurricane Harvey car insurance claims to reach approximately 500,000. It is estimated that 100,000 claims came in as of August 31st. Fortunately, most auto policies cover flood loss (comprehensive auto coverage), unlike most residential policies (see prior blog on residential policies). An increase in auto insurance rates are expected to increase in Texas because of these claims.
Here are some tips when dealing with your flood damaged vehicle:
- Do not start your vehicle – if water is present in the engine damage will occur.
- Have your car towed to a reputable mechanic so they can assess the damage.
- Take pictures of all the damage even if you think it may be irrelevant.
- Educate yourself about your vehicle’s value prior to accepting any offer from the insurance company. Take note of any special features and/or aftermarket parts your vehicle had.