Bengaluru Rains: Vehicles Damaged In Flood? Check How Insurance Policy Can Cover Your Loss

Bengaluru Rains: Car insurance companies offer a variety of policies that can help owners in repairing the losses caused to their cars due to floods and other natural calamities.

Bengaluru Rains Latest Update: Normal life has gone out of gear as incessant rains have wreaked havoc in Bengaluru. Visuals on social media showed water entering parking lots and basements of many buildings located in south, east and northern areas of the city. In the videos on social media cars and bikes were seen submerged and vehicles were partially underwater in many areas in Bengaluru due to the heavy rains. In addition to the rains, residents have now another added worry of how to fix their cars that were submerged in water. Here’s how you can save your vehicle if it has been affected by flooding and what kind of insurance redressals there are. In this case if your car is damaged due to the floods, you will have to contact your insurer to claim for the cost to repair the vehicle.

However, not every car insurance can help you in this regard. Hence, it is important to understand, the features and benefits of a car insurance policy before availing of it.

Car insurance companies do offer policies that can help owners in repairing the losses caused to their cars due to natural disasters.

Comprehensive Car Insurance Policy: All you need to know

A comprehensive car insurance policy can help the owners in recovering damages caused by natural calamities like floods, earthquakes, cyclones. This policy also covers vehicles from man-made disasters such as accidental damages, fire or explosion, theft, and third-party liabilities.

This comprehensive car insurance policy looks like a perfect coverage option for your vehicle in the case of flood damages. However, this policy does not offer coverage for certain damages like to your engine or gearbox.

Engine Protection Cover: As the Comprehensive Insurance Policy does not cover damages to car engine, the owners can get financial coverage for repairs or replacement of damaged engine parts with this add-on.

No Claim Bonus (NCB) Protection Cover: While filing a claim during the policy tenure, you lose out on the NCB. However, with NCB Protection Cover, the discount remains intact even if you file a claim. You will get discount of up to 50% (if you don’t claim for five consecutive years) even if you raise a claim.

Return to Invoice Cover: If the vehicle is damaged beyond repair caused by flooding, then with the Return to Invoice Cover, you can claim the purchase price or the car’s invoice value that includes registration cost and road tax as well as per policy terms.

Consumables Cover: With Consumables Cover, you can protect against expenses incurred on consumables during natural calamities. You will however have to note that the cost of replacing consumable items such as lubricants, gearbox and engine oil, nuts and bolts, grease are not covered under the base plan.

Another crucial thing the policy owners must note that the general insurance companies like Acko, HDFC Ergo, ICICI Lombard General Insurance, Tata AIA, Bajaj Allianz General Insurance, Bharti Axa General Insurance, and SBI General Insurance are among others do offer car insurance policies.