Thousands of insurance claims for vehicle flood damage

Thousands of insurance claims for vehicle flood damage

A woman walks on flooded Vibhavadi Rangsit Road which has experienced its worst flooding in decades. (Bangkok Post file photo)
A woman walks on flooded Vibhavadi Rangsit Road which has experienced its worst flooding in decades. (Bangkok Post file photo)

Owners of 3,184 vehicles have made insurance claims totalling about 45.6 million baht for damage caused by flooding in Bangkok over the past week, according to the Office of the Insurance Commission (OIC).

OIC secretary-general Suthipol Taweechaikarn said the claims were filed under policies bought from 41 general insurance companies. The data was as of 9.30am Wednesday.

Around 70% of the claims were for flood damage to floors with repair costs estimated at 8,000 to 10,000 baht per vehicle, and seats (15,000-20,000 baht). The OIC estimates the cost of repairs to vehicles with flood-damaged lower consoles at 25,000-30,000 baht, and more than 30,000 baht for deeper immersion.

In the case of vehicles which had been totally submerged, insurers would pay out the full insured sum. (continues below)

Thai media reported that Viriyah Insurance was hardest hit by the flooding on Friday and Saturday, with owners of 1,140 vehicles filing damage claims.

Mr Suthipol said payment would be made to holders of first-class insurance and to those who bought lower class policies but also paid the premium for flood damage cover. 

He said the OIC was coordinating with insurance companies to speed up payments. Those who did not buy flood protection should refer to the OIC's median prices list when they get their vehicles repaired. 

The downpour from Friday night through to Saturday morning in Bangkok caused widespread flooding in the capital, with 55 major roads reported under at least 15 centimetres of water.

The rain was reported to be heaviest in Phra Nakhon district, where 214 millimetres rainfall was recorded in the 24 hours from 7am Friday to 7am Saturday, but the drains can handle only 60mm a day. The deluge started at 11pm Friday.

Bangkok governor Asawin Kwanmuang on Saturday afternoon apologised to the public, saying City Hall had done its best but the rainfall was the heaviest seen in 25 years. 

A volunteer directs vehicles at flooded Lat Phrao - Ratchadaphisek intersection in Bangkok on Saturday morning. (Bangkok Post file photo)

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