Automotive insurance
- Complete third parties with flood: If the policy includes this coverage, the incident will be covered. It may have a limit (percentage of the insured sum) or a franchise, but the damage will always be contemplated.
- Complete complete third parties (without explicit flood): Will only cover if the Total destructionthat is, if the repair cost exceeds 80% of the value of the car.}
- All risk: Not all policies detail flooding coverage, but in these cases it will be activated if the damage exceeds the contracted franchise.
What to do if your car was flooded?
- Check your policy to see if it includes flood and under what conditions.
- Document the damage with photos and videos.
- Contact your insurer as soon as possible.
- Wait for the expert inspection for damage assessment.
- Keep all vouchers and documentation of the incident.
Home insurance
What is covered and what is not?
Unfortunately, The majority of household policies do not cover the flood, which usually cover these policies are two items that have to do with this fact but that does not specify the flood:
Hurricane, gale, tornado and cyclone (HVTC): It is what generally cover standard policies, although it is hired as additional.
Water damage: Unfortunately what covers are leaks, breakage of internal pipes or overflows. It is not the same as a flood where water comes from outside.
These unexpected facts are those that end up generating the demand for new coverage, so I think it is a great time for companies to begin to sell flood coverage as additional.
Commerce Integral / All Operational Risk
The coverage depends on the contract. Some policies include flood damage, but it is not widespread. It is essential to check the policy and consult the insurer to know if the business is covered.
Conclusion:
It is key to know the coverage of your insurance before an accident. In the case of households, the flood is not contemplated in most plans, and this event could be a call for attention for insurers to begin to offer it.
Franco Piazze
Lawyer
T ° 131 F ° 976 CPACF
1163690761
1177001957 INT 2001
I hadVechoque.com.ar
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