In the wake of hurricane season, and recent events surrounding Hurricane Harvey, flooding is a serious issue to consider. The news and social media outlets are covered with photographs of cars submerged under water. Damages may (or may not) be covered under your automobile insurance policy due to flooding. It is imperative to purchase automobile insurance that is more than your state’s minimum requirement. In Florida, it is not mandatory to purchase comprehensive or collision insurance to pay for damage to your own vehicle. These are elective coverages to individuals, unless you lease or finance your vehicle. If you lease or finance your vehicle, the lender will require you to purchase comprehensive and collision insurance, however, may not require you to purchase gap insurance. Gap Insurance applies if your car is totaled and you owe more money to a lender than the car is actually worth. For example, if you owe $8,000 on your car loan and your car is worth $6,000, gap insurance will pay the difference and reimburse your lender for the extra $2,000. Gap insurance helps avoid the unenviable position of having to continue to make loan payments for a car you no longer own. Collision insurance will cover your car if it is damaged in an accident regardless of fault. For example, if during a rain storm, if you lose control of your vehicle and crash your car, this damage should be covered under your collision insurance. Comprehensive insurance will cover your car for theft, windshield damage, fire, or damages due to flooding, hail or other natural occurrences. For example, if your car gets flooded and damaged as a result of a storm surge, comprehensive coverage should cover pay for that damage. Don’t get caught under water, do your research!
If you have any questions about your insurance and/or property damage, it is always best to contact a lawyer and obtain a free consultation. The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience or visit our website at CLNlawfirm.com or call us at 727-799-3900.