Car Insurance Covers Flood Damages? | Flood Insurance Coverage

Car Insurance | Insurance
by Priyadarshini 31 December 2020

Singapore has a long rainy season with heavy downpours every year. Thunderstorms, lightning, and continuous showers are quite common in the country. This season is also responsible for floods in many parts of Singapore causing damages from homes to cars. Buying a car is one of the most expensive things you will do next to buying a home or property. So, making sure your car is protected is upon you. One way to do so is to purchase car insurance. And car insurances in Singapore are pretty expensive too. When you plan to buy car insurance ensure you get good coverage. Your car must be secured in case of damages, theft, or any other natural calamity. After all, that is the sole reason why you pay such high premiums. If you own a car then read this blog, to find out if your car insurance covers flood damages.

Why Flood Insurance Coverage?

Floods in the rainy season are a common thing here. The most popular streets too are flooded with water when it pours. Orchard Road almost turns into a river during the heavy rainfall period. Many areas in Singapore get heavily flooded every year. This automatically means your cars too are not safe from damages due to floods.

But you may think, that your comprehensive insurance coverage is enough to cover your car for flood damages. However, you should know that comprehensive insurance coverage may not cover damages caused by floods. Many car insurance policies demand additional premium charges for offering damages caused by floods. This feature is most cases is an extension of your insurance policy. So, ensure that your car insurance covers flood damages.

Things to Keep in Mind

Be mindful of the terms and conditions of your insurance policy and keep yourself updated with what it covered. Take a look at what are the exclusions and decide if you need a better insurance policy. We recommend you secure your bases before the rain arrives and the damage is done. As they say, “prevention is better than cure”. Take note if your car insurance covers flood damages.

If you miss taking notice of insurance coverage from flood damages then, it may be too late once the rainy season starts.  Moreover, if your car bears extreme damages and is beyond repair then it will be a huge loss for you. As repairing the car will need you to shell a lot of money and the Open Market Value of your four-wheeler will also be gone! At least if you have the insurance coverage, you can save the OMV of your car and re-sell it later.

Get Insurance Coverage for Flood Damages

First of all, research thoroughly before you purchase car insurance. Talk to various insurance companies, compare policies, and check the inclusions and exclusion. Look for what you need the most and choose accordingly.

Purchasing an insurance policy that covers flood damages is not a tough task. Most insurers usually special insurance policies that come with added coverage. Also, you can opt for extensions to your current insurance policy and get your car insurance that covers flood damages. Always, make sure to check out multiple insurance policies to get the best in the market.

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