‘Flood insurance’ is a insurance coverage for incidents that caused by flood.
Flood insurance got a lot of intention and talk a lot after an flood incident that happens in Thailand by the end of 2011 in that year statistics there's has been a report of car damaged as high as 3,000 million bath.
There's has been only 6,000 cars who do a first class insurance and covered the flood incident but after that flood insurance became one of many insurance people choose to do.
If we talk about flood insurance a long time ago there will be only an first class insurance that covered this not second or third class but after what happen there is more choice for customers who want a special type of insurance for example if you don't want to pay a high price of first class insurance you can do second plus or third class plus will covered flood incident as well.
Most damaged that happen on car from flooding can be separated in two cased
- Total Loss: meaning that your car will get damaged by flooding beyond reparable or the price of fixing it is more than 70% of that car price, in this case the insurance company will considered paying you a compensation instead. Most of the total loss damaged happen in case of the water flood the entire car or above console point of car or flooding for a long time like days or week.
- Partial Loss: meaning that your car get flood by water but still in a condition that can be repaired back to use, in this case the insurance company will send an officer to look at a condition of your car and make a claim document for you to send your car to fix, an insurance company will only responsible maximum of sum insured.
Advice in case of flooding: you should take a picture when flooding is happen to show to an officer because if the flooding is gone there will be not many evidence of what happened, and you should take your car to fix with the garage that has been registered with your insurance company because if there's a problem after fixing your car and the problem is cause by flooding that happen before, that garage will have to be a responsible in your insurance company protection.
If you choose to fix with the garage that has not been registered with your insurance company it may cause a problem later, since your insurance company can denied to be a responsible for the flooding incident.