August 25th, 2011
If you have comprehensive coverage your car should be insured against all natural disasters, including high winds and flooding (i.e. a hurricane). You might want to phone your carrier quickly to make sure that your policy is comprehensive. Chances are that it is.
If your coverage isn’t comprehensive you should look into gap insurance, which will cover the difference between what the carrier believes your car is worth, and the payments you still owe on your loan or lease. Gap insurance will cover this “gap” during a hurricane. So if your car is worth $15K and you’ve paid off 10, gap insurance will cover the other $5K against natural disasters.
Another means of coverage above and beyond either comprehensive or gap coverage is rental reimbursement coverage. This hedge will pay for your car rental if your vehicle needs to be repaired after the hurricane.
If you haven’t explored any of these options yet, with the hurricane on its way, you may have trouble securing it before the storm runs aground. Somewhat understandably, insurance carriers are hesitant to sell policies when a natural disaster is imminent, as they don’t want to assume all that risk right away. There may be binding restrictions, so ask your carrier -- or ask us.
As insurance policies may be constrained or unavailable so close to the hurricane, the best thing you can do now is take safety precautions with your car. Make sure it’s full of gas, and the tires are in good shape. Part a tarp over your car, and hold it down with some bricks so it won’t blow away.
None of these options are good, or fun to think about with so many other concerns weighing on the mind. So it's best to get your vehicle full of petro in your garage, so you can focus on the safety of those around you.
Here is a piece about car insurance in all natural disasters.