Quote:
Originally Posted by 2one3E90
Wait when those Hurricanes and natural disasters came. Did insurance cover peoples cars and pay out? Or did people literally loose there assets in that you couldn't salvage anything despite insurance?
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Depends on your coverage how much you lose, but in a flood you always lose.
In terms of the cars...My F30 was 3 months old at the time so took a big hit, and the 740 was 11years old so had low book value and lower insurance level so took a bath there too
In terms of personal property, total losses in most cases....you may have some luck with new items that had recent receipts- yeah in a flood you’ll have those avail-not! Reality is flood insurance only covers up to 100K in personal property, period. So unless you had private insurance on personal property you are screwed after 100k even if u had receipts. Now think about a high cost area like NY and how much things cost to repair and replace-massive losses
