Rain Floods: Compensation for damaged vehicles, here's how you can claim your money

In the recent Maharashtra floods a number of two-wheelers and four-wheelers were submerged in water causing severe monetary losses to owners.

It will cost a lot to repair these vehicles. Is it possible to get compensation from the insurance taken out for the vehicle concerned, in case of damage to the vehicle due to flood or rain water? Trying to look at these and many more questions.

Is there any compensation for vehicle damage due to flood or rain water? There are two types of auto insurance. Comprehensive risk cover and third party insurance. In the case of comprehensive insurance, the company is bound to compensate the vehicle.

Even if they are damaged by flood or rain water, they have to pay. Third party types, however, do not receive compensation. After a few years of driving, many people try to get a job in a third party insurance for less money.

What do I need to do to get compensation? If damaged, park where the vehicle is. If the vehicle is swept away by the flood, push it to the side. Then call the helpline number of the insurance company, name of the car owner, insurance number and place.

An inspector from the company will come and review the damage to the vehicle. If it is not possible to survey the site, the vehicle will be towed to the garage and the loss estimate will be reported to the company.

Should I start the car immediately after the water recedes? Starting a car without being surveyed by an insurance company inspector can be the biggest mistake. This is because the engine is likely to be 'hydraulic'.

This means that when the car starts, water will seep into the engine and it will be completely useless. According to the insurance agreement, the attempt to start the car and the damage to the engine caused by it is considered as 'consequential loss'.

As a result the cost of engine repair will be deducted from the compensation. Compensation will not be of any benefit as the cost of repairing the engine is the highest.

What to do to get full compensation? If the engine is 'hydrolocked' while starting the vehicle, the amount of compensation is reduced. However, the conditional loss does not apply if you have calculated the additional amount by taking the option 'Add on' for 'Engine Cover' while taking out insurance.