https://qz.com/1066966/how-many-cars-were-destroyed-by-hurricane-harvey/ and also at other news outlets.
For Harvey victims, it's going to be rough if they lost their car, Houston is a very car-dependent city. Like many states, Texas only requires liability insurance — only those that bought comprehensive coverage will be able to claim the loss on insurance.
Ideally most of these flooded cars will be scrapped, as it's very likely water damage to electrical systems and other parts are not cost effective to repair professionally. However, there will be "new" and used cars on the market that have been underwater (to a greater or lesser extent). Many will be sold "as is" and some of them will be cleaned up and sold fraudulently as if they were not damaged. Buyer beware, these cars will be shipped all over in search of buyers (marks?)
After Katrina, friends of mine with time on their hands bought several new-flooded Honda Civics (which they were familiar with from building "street stock" race cars). They pulled out the interior and then the full wiring harness. Bought new harness from Honda and replaced everything, and had perfectly good near-new cars for pennies on the dollar (and a few days of hard labor).
(Score: 2) by cnst on Sunday September 03 2017, @08:03PM (3 children)
So, how much did you end up benefitting from the ordeal? What did the insurance pay you out? How much did you have to pay the insurance to buy the car back?
Did you insure it afterwards with the same company?
(Score: 2) by bziman on Monday September 04 2017, @03:33AM
I basically got an old SUV out of the deal. And yes, I'm still insured with the same company - they are, of course, happy to continue taking my money, I just can't make a claim for that flood again. Seemed reasonable to me.
(Score: 0) by Anonymous Coward on Monday September 04 2017, @05:03AM
My parents had a write-off on the road for a while (hail damage). Essentially, you get third-party liability, and that is about it.
(Score: 3, Interesting) by TheRaven on Monday September 04 2017, @09:00AM
sudo mod me up