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Report: Irene forced auto claims to spikePosted On Wed, November 9, 2011
A recent report from the National Insurance Crime Bureau noted that flood damages during Hurricane Irene affected many automobiles, and thousands of claims were reported.
Insurance claims increased significantly when it came to flood-related damages during August, as the bureau noted more than 11,700 claims were reported. One year earlier, the figure was less than 1,000. New Jersey, New York and North Carolina had the most significant numbers of claims, with more than 4,100 in New Jersey alone.
In addition, the claims may cause an increase in automotive scams involving vehicles that were damaged irreparably from the storm, the bureau added. Vehicles with flood damage are legal to be sold if the history is disclosed, but not all sellers end up doing this.
Consumers who own a vehicle in an area that is commonly battered by floods may want to ensure their vehicle's insurance policy has the proper flood coverage. If not, it may be a good idea to look elsewhere and compare auto insurance quotes with coverage that is sufficient.
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