In light of the devastating happenings in Texas and Louisiana resulting from Hurricane Harvey, hundreds of thousands of people have lost their homes and belongings to the heavy flooding. This 500-year storm has brought on more flooding than any Texas storm in the last decade.
While the safety and shelter of themselves and their loved ones is of the utmost importance, the affected people have endless questions. What do many of these concerns involve? Next steps. How are these situations going to be addressed on a national scale, a statewide measure, and a personal level?
Whether or not people have flood insurance, they are concerned about how this hurricane will affect their finances. According to insurance experts, 80% of Hurricane Harvey victims do not have flood insurance; with expensive repair and replacement costs, this could be crippling for thousands of people.
One misconception surrounding their belongings is whether or not cars are covered by the flood insurance they purchased through their homeowners insurance. The logic is that since a car is technically one of their personal belongings, it may fall under this category. With the estimated 300,000 to 500,000 vehicles in the Houston area, this is substantial collateral damage.
However, vehicles are in a different category altogether. Just because you have flood insurance through your homeowners policy does not mean that your car will be repaired or replaced. What does cover cars against floods, however, is a comprehensive car insurance policy. Unlike collision insurance, which protects the vehicle against traditional accidents, comprehensive insurance covers drivers from natural disasters, fires, theft, animals, and floods. In other words, if you have comprehensive or full coverage car insurance, your vehicle should be covered in minor or severe floods.
Naturally, if you or a loved one is currently being impacted by Hurricane Harvey, safety is the ultimate priority. When you’re ready to look into next steps, don’t hesitate to contact your insurance company with any questions you may have.