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ICICI Lombard Expert Blog
 

Insurers Adopt Proactive Measures in Monsoon

July 07 2015

During the monsoon season, insurance claims ratio for passenger cars increases by 15-20%. Reason for this is the damage caused by water logging in certain areas.

While the claims are on the rise, many are now being rejected as the damage is attributed to cranking up the engine while it is submerged or when the vehicle is just out of the water logged area. However, all claims are not rejected; damages to the upholstery or fuel parts, due to floods are covered.

Insurance companies are taking proactive steps by sending alerts, to prevent disappointment of claims being rejected and the discomfort caused by water damage to the insured. Insurance companies are making use of platforms such as e-mails and FM radio to share do's and don’ts of the season. ICICI Lombard General Insurance advises its customers via SMS to avoid driving in water logged areas.

Those who use their cars regularly in monsoon afflicted areas are suggested to opt for certain add-ons such as 24x7 Road Assistance Cover, Zero Depreciation Cover and Engine Protector Cover in addition to the existing motor insurance policy.

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