Almost 500,000 vehicles are registered in the areas hit by the devastating 'Dana' flooding in Valencia

Many of the cars affected by the disaster will be total write-offs although, in view of the exceptional circumstances, Spain's national compensation scheme will cover any vehicle with a valid insurance policy - whether fully comprehensive or third party

SUR

Malaga

Wednesday, 6 November 2024, 14:50

Around 459,000 vehicles, some 28% of the total number of vehicles registered in the Valencia area, are in the zones affected by flooding from the 'Dana' storm, according to a report published on Tuesday by the technology company Solera.

Of these, 61% are more than 10 years old. These are vehicles that normally only have third party cover. However, the Consorcio - Spain's insurance compensation consortium - part of your car insurance payments go to this fund for events like natural disasters - will cover any vehicle with a valid policy, regardless of whether it is fully comprehensive or third party.

However, especially for newer vehicles, which account for 17% of those wrecked in the affected areas in Valencia, policyholders should check if they have any enhancement clauses in their contracts. This means that a vehicle, which depreciates every year, can recover a part of that lost value, up to 20-30% depending on the policy, in addition to the valuation of the car according to the actuary tables from the corresponding bodies.

However, given the age of most of those vehicles wrecked, many of the cars will be written off as the cost of repairs would exceed their market value, which could be as little as 1,000 euros for many of them.

Furthermore, this includes not only those with bodywork damage but also those that have been flooded. So, even if the car's exterior is immaculate, the interior damage must be taken into consideration as there could be damage to the electronic control units. For example, a five to ten year-old car may have between 25 and 35 separate control units.

Private owners

There is another statistic from this disaster, up to 93% of the vehicles registered in the most affected municipalities are in the hands of private owners compared to 4.4% with companies, 2.3% on leasing and 0.4% as rentals.

In terms of car marques registered in the region, Ford is the leading make, with just over 61,000 vehicles sold, 13.4% of the total. It is followed by Peugeot and Citroën, each with 9% of the total.

In the municipalities considered as 'ground zero' in this catastrophe, the vehicles registered in these locations as of 1 January 2024, according to data provided by MSI, are as follows: Alaquàs (18,173), Albal (10,478), Aldaia (19,774), Alfafar (11,969), Algemesí (17,178), Benetússer (8,509), Catarroja (19,572), Llocnou de la Corona (124), Massanassa (7.141), Paiporta (15,049), Picaña (7,367), Sedaví (7,547), Utiel (7,055) and the district of La Torre in the city of Valencia (471,015, the total figure within the city limits).

The Solera report gives assurances that all insurance claims will be indemnified. Assessments will be carried out by the Consorcio de Compensación de Seguros, part of central government's Ministry of Economy, Commerce and Enterprise. This is due to the fact that the Dana and its material consequences are classified as "extraordinary risks", so compensation is paid from the central Consorcio fund, not from individual insurance companies. The insurers only have to confirm that the vehicle owner has a valid policy with them for compensation to be granted.

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