NBC News clip on flood damaged cars

[Lowexpectations]

Originally Posted by unit731

60% of cars not insured ?

Where did that number come from?

Car insurance is mandatory in 49 states (I think). What's the rule in your state about people not getting or not paying car insurance?

To say 60% were not insured might be false/misleading, 60% might not have had full coverage although I'm not sure how that number is being computed

[Bummer]

There is a huge misunderstanding here . . . there are TWO distinct types of Vehicle Insurance.

State Mandated Insurance is for Liability . . . coverage on the other vehicles and individuals in the event of an accident.

Collision and/or Comprehensive coverage for the owner's vehicle . . . in most cases required only when the vehicle has an existing loan or is leased.

The reporting on a Flood Vehicle would exist ONLY if there was a claim filed. With no physical accident involved, the only reporting would be if the vehicle had either Collision or Comprehensive coverage.

Personally, I am not aware of any State Law requiring Collision and/or Comprehensive Insurance on any vehicle that is owned outright.

[Checkered24]

It may not show on the carfax if it is in a flood, but it will show whether the car has been titled/registered and/or serviced in an area which suffered flooding. If such turns up, it is a good reason to be extra cautious.

[unit731]

Originally Posted by Checkered24

It may not show on the carfax if it is in a flood, but it will show whether the car has been titled/registered and/or serviced in an area which suffered flooding. If such turns up, it is a good reason to be extra cautious.

Best suggestion yet.

A Carfax or Experian check usually show where car has been registered. If from a flood storm area then have checked by a professional.

[Hollywood]

Here's how you avoid it: If a VIN search shows the car was registered in Texas in 2017, you don't buy it.

Dang, I should have read the 2nd page to see that I was beaten to it. Haha, oh well.