Revealing five damage levels for "cars submerged in water" and how much insurance pays. The Office of Insurance Commission (OIC) advises on assessment, preparing evidence, and checking damage levels to preserve insurance claim rights.
When floods or standing water affect vehicles, many wonder how insurance companies assess and compensate for "cars submerged in water." The Office of Insurance Commission (OIC) has set five damage levels for insurance claims as follows.
This occurs when the vehicle is severely damaged by flooding, making repairs uneconomical. The insurance company will pay full compensation equivalent to the "insurance sum insured" to the policyholder or beneficiary.
Damage at this level is estimated to cost at least 30,000 baht in repairs.
Damage here is estimated between 25,000 and 30,000 baht for repairs.
Repair costs at this level are estimated between 15,000 and 20,000 baht.
This is the initial damage level, with repair costs estimated between 8,000 and 10,000 baht.
Type 1 car insurance provides coverage for flood damage, but for Types 2+ or 3+, it is necessary to check whether additional flood coverage was purchased.
Make sure to verify if flood protection add-ons were included.
Collect damage evidence: if the "car" is damaged, take photos or videos around the vehicle showing the exterior, interior, engine compartment, and water level. Do not start the car if it has been flooded or submerged.