Corvettes lost in flood
09-10-2011, 09:18 AM
#1
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Corvettes lost in flood
Just received a few calls of Vette owners losing their C3, C4, C5, C6 in the flood here in upstate NY (Binghamton). Insurance does not cover the flood I believe. I have Grundy, and no to floods
09-10-2011, 11:29 AM
#3
Le Mans Master
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Location: Hudson Valley Region, NY The "sonoma/napa" of the Northeast~~~~~ Are we there yet?
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St. Jude Donor '08
Omg that is horrible news... My friend down here lost his motorcycle in his garage when water came up over the tank! He had Geico and they have already cut him a check. Why wouldnt Grundy cover floods?
09-10-2011, 12:13 PM
#4
Melting Slicks
flood should be covered under comprehensive coverage. worst case scenario if it is in the garage then homeowners would cover it too. but if you have FULL coverage on your auto policy it should be covered just as if a tree fell on it.
09-10-2011, 02:12 PM
#5
Team Owner
not sure if homeowners coves it in the garage, had a leak in a pipe with my vette in the garage, the garage is under the house in the basement, it got some minor water stains on it so i was trying to see if they would pay to get it detailed. Adjuster said that cars are auto insurance. I don't think they consider cars as home contents for replacement, etc.
09-10-2011, 02:34 PM
#6
Melting Slicks
not sure if homeowners coves it in the garage, had a leak in a pipe with my vette in the garage, the garage is under the house in the basement, it got some minor water stains on it so i was trying to see if they would pay to get it detailed. Adjuster said that cars are auto insurance. I don't think they consider cars as home contents for replacement, etc.
09-11-2011, 12:27 AM
#7
Le Mans Master
it depends on your policy but if the car is in the garage and the garage was being used as shelter then if the shelter fails it is at fault. but again it depends on how your policy is written. i know homeowners covers boats in some cases too. but either way as said earlier your FULL coverage auto should cover it.
09-11-2011, 07:20 AM
#8
Race Director
Any auto policy that includes comprehensive (or comp & collision), will normally provide coverage for loss, no mater what the cause. Policies for liability only, protect the owner from law suits, but provide no physical damage coverage for the car.
Most homeowners policies exempt any kind of motorized vehicles. The exception might be if the vehicle is unregistered and un-drivable, such in the case of a vehicle under restoration or in long term storage. I would never assume this to be the case, and would want written confirmation from my agent or insurance carrier.
Homeowners almost never covers flood damage, be it to your car or home. Flood coverage requires a separate flood insurance policy, and it makes no difference if you live in a flood plan or not. Water damage to your home is covered if it's the result of a mechanical problem, such as a pipe breaking, a sump pump dying, or from water getting in as a result damage to a roof, but not if it's caused by rising river or storm water, or from "rushing" water.
I'm not familiar with Grundy's policies, but unless flood is specifically exempted, flood damage should be provided under the comprehensive provisions of the policy.
Most homeowners policies exempt any kind of motorized vehicles. The exception might be if the vehicle is unregistered and un-drivable, such in the case of a vehicle under restoration or in long term storage. I would never assume this to be the case, and would want written confirmation from my agent or insurance carrier.
Homeowners almost never covers flood damage, be it to your car or home. Flood coverage requires a separate flood insurance policy, and it makes no difference if you live in a flood plan or not. Water damage to your home is covered if it's the result of a mechanical problem, such as a pipe breaking, a sump pump dying, or from water getting in as a result damage to a roof, but not if it's caused by rising river or storm water, or from "rushing" water.
I'm not familiar with Grundy's policies, but unless flood is specifically exempted, flood damage should be provided under the comprehensive provisions of the policy.
09-11-2011, 01:52 PM
#9
Race Director
Any auto policy that includes comprehensive (or comp & collision), will normally provide coverage for loss, no mater what the cause. Policies for liability only, protect the owner from law suits, but provide no physical damage coverage for the car.
Most homeowners policies exempt any kind of motorized vehicles. The exception might be if the vehicle is unregistered and un-drivable, such in the case of a vehicle under restoration or in long term storage. I would never assume this to be the case, and would want written confirmation from my agent or insurance carrier.
Homeowners almost never covers flood damage, be it to your car or home. Flood coverage requires a separate flood insurance policy, and it makes no difference if you live in a flood plan or not. Water damage to your home is covered if it's the result of a mechanical problem, such as a pipe breaking, a sump pump dying, or from water getting in as a result damage to a roof, but not if it's caused by rising river or storm water, or from "rushing" water.
I'm not familiar with Grundy's policies, but unless flood is specifically exempted, flood damage should be provided under the comprehensive provisions of the policy.
Most homeowners policies exempt any kind of motorized vehicles. The exception might be if the vehicle is unregistered and un-drivable, such in the case of a vehicle under restoration or in long term storage. I would never assume this to be the case, and would want written confirmation from my agent or insurance carrier.
Homeowners almost never covers flood damage, be it to your car or home. Flood coverage requires a separate flood insurance policy, and it makes no difference if you live in a flood plan or not. Water damage to your home is covered if it's the result of a mechanical problem, such as a pipe breaking, a sump pump dying, or from water getting in as a result damage to a roof, but not if it's caused by rising river or storm water, or from "rushing" water.
I'm not familiar with Grundy's policies, but unless flood is specifically exempted, flood damage should be provided under the comprehensive provisions of the policy.
As stated, flood insurance is separate and under federally administered rules. There are some instances where homeowners insurance will cover cars parked in garages, but if you don't have flood insurance, than any loss from a flood also wouldn't be covered. But as also stated, it should be covered under typical full coverage auto insurance.
What I can state, is that water in the basement due to a faulty sump pump is absolutely not covered under most insurances. Just as with floods, they typically don't cover any damage due to groundwater events. If a pipe bursts, that's covered. But if the sump pump doesn't work, then your SOL. Ask me how I know.
There are various riders that you can add to your policy that can cover all sorts of events, and one is sump backup protection, that is if the water backs up through the sump pump, that would be covered. But I haven't seen a rider that covers actual sump pump failure.
And with water damage, the next thing to worry about is mold, and you'll have to check your policy to see what they cover concerning mold. I know I have some mold protection.
Again, every policy is different, and coverage amounts can vary. Best of luck to anyone dealing with water damage.
09-12-2011, 04:17 PM
#10
Drifting
i stayed dry through all of these weather events, but i called my agent to check coverage anyway. [erie insurance] a sump pump failure is the same as a broken pipe or leaky roof. physical failure causing damage. if the pump just can't keep up, or if your gutters can't handle the amount of rain coming down and water enters the home that's different.
what i didn't know was if your sewer or floor drain backs up putting water [etc.] in your home you're not normally covered either. i added a sewer and floor drain rider for $50 that covers that whether the sewer backs up any day due to a clog, or if it backs up due to water infiltration like from a flood. it's not considered ground water in that respect. maybe that will help somebody in the future.
what i didn't know was if your sewer or floor drain backs up putting water [etc.] in your home you're not normally covered either. i added a sewer and floor drain rider for $50 that covers that whether the sewer backs up any day due to a clog, or if it backs up due to water infiltration like from a flood. it's not considered ground water in that respect. maybe that will help somebody in the future.
09-12-2011, 05:47 PM
#12
Race Director
Water damage claims are a tricky thing to figure out.
What I can state, is that water in the basement due to a faulty sump pump is absolutely not covered under most insurances. Just as with floods, they typically don't cover any damage due to groundwater events. If a pipe bursts, that's covered. But if the sump pump doesn't work, then your SOL. Ask me how I know.
What I can state, is that water in the basement due to a faulty sump pump is absolutely not covered under most insurances. Just as with floods, they typically don't cover any damage due to groundwater events. If a pipe bursts, that's covered. But if the sump pump doesn't work, then your SOL. Ask me how I know.
Being from Marlton, I'm sure you remember the the torrential rain that resulted in 30+ dams collapsing in Burlington County, one evening about 5 or 6 years ago. I had my pump burn up that night, resulting in a basement with about 12" of water in it. The insurance company paid the claim, no questions asked. Admittedly the amount was small, they didn't even send an adjuster out.
Your right about water claims being tricky, though. I had a situation years ago at work, where we had a company property damaged by water. We had property and flood coverage from two different carriers. Our property was on the side of a hill. We had water in our building from damage to the roof, and from water rushing down the hill. In the end, it was decided that the property coverage would pay for interior damage to the property and equipment, and the flood coverage paid for outside damage, which included an environmental clean up from overturned oil tanks. It was a crazy mess to sort out.
I feel for all the NY, NJ and PA residents, that have been dealing with
the flooding, the last couple weeks!
09-13-2011, 06:11 AM
#13
Le Mans Master
. This seems worse than the (2006?) flood.
09-14-2011, 08:28 PM
#15
Racer
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A friend of mine at work lost his C5 vert, his pride and joy. He can't even talk about it.
A bunch of people had major damage, lost cars and other possessions. i work in Wayne, NJ near the Passaic river. If your reading this thread, you've seen it on the news.
My bar, my favorite happy hour bar, wrecked. I drove by the other day and the entire contents of the bar, all the wood work and fixtures, all in the parking lot in pieces. A single tear rolled down my cheek.
I was okay. i'm on top of the moutain, so all the water flows down away from me. Though it is eerie to see some places at this elevation with flooding and washed out roads.
A bunch of people had major damage, lost cars and other possessions. i work in Wayne, NJ near the Passaic river. If your reading this thread, you've seen it on the news. My bar, my favorite happy hour bar, wrecked. I drove by the other day and the entire contents of the bar, all the wood work and fixtures, all in the parking lot in pieces. A single tear rolled down my cheek.
I was okay. i'm on top of the moutain, so all the water flows down away from me. Though it is eerie to see some places at this elevation with flooding and washed out roads.
