[WRnative]

One estimate is that 50,000 (30,000-70,000) vehicles may have been lost due to Hurricane Ian's impact.


<<We believe the likely range of severely damaged vehicles that could need replacement is between 30,000 and 70,000 vehicles. As it is still early days in the aftermath of Ian, we recognize that is indeed a large range, so we will consider the mid-point at 50,000 vehicles. >>


https://www.coxautoinc.com/market-in...uld-top-50000/



Certainly, the demand for new and used vehicles will skyrocket. I wonder if any savings could be realized by flying into a northern state, or taking a bus to e.g. Tennessee, and driving a new vehicle back to Florida, taking into account travel costs even before accounting for the time required.



It's uncertain of the impact on auto insurance premiums as losses due to hurricanes likely were already factored into insurance premiums.


I don't believe insurance will compensate owners for the much higher auto purchase loan rates now in effect than a year ago.


Will the temporary boost in rental demand impact the tourism industry in Florida?

[beachmouse]

Six months from now, we’ll hear the reports of people who didn’t do due diligence when buying a used car and ended up with a vehicle that had been totaled by the insurance company because of flood damage and then sent to auction. Flood damage cars are never going to be really right again.

Check the vehicle history of any used cars you’re looking to buy and avoid anything previously titled in Florida in 2022 for a while to come.

[MOforthewin]

Originally Posted by beachmouse

Six months from now, we’ll hear the reports of people who didn’t do due diligence when buying a used car and ended up with a vehicle that had been totaled by the insurance company because of flood damage and then sent to auction. Flood damage cars are never going to be really right again.

Check the vehicle history of any used cars you’re looking to buy and avoid anything previously titled in Florida in 2022 for a while to come.

I even wonder about new cars too if it's been on the lot for awhile.

If I were in the market for a car, I would only buy new AND I would order it. I wouldn't trust anything that's been sitting on the lot before Ian.

[WRnative]

This article suggests that Teslas and EVs are especially vulnerable to salt water.


<<Florida chief financial officer and state fire marshal Jimmy] Patronis said two houses burned down this week after an EV caught fire. He has asked manufacturers for help....




“Lithium-ion vehicle battery fires have been observed both rapidly igniting and igniting several weeks after battery damage occurred,” Jack Danielson, executive director at NHTSA, wrote in the letter to Patronis.
Fires in EVs “pose unique challenges” for firefighters, NHTSA said in a separate statement to Bloomberg Government. The agency said it has been researching the effect of saltwater immersion on batteries when similar issues emerged with EVs after Superstorm Sandy in 2012.>>


https://www.insurancejournal.com/new.../17/690430.htm


I would be reluctant to buy a used Tesla or other EV with any past Florida registration until this issue is better understood/resolved.

[TerraDown]

Coming back across the Alligator Alley the day after Ian, (Alley runs east to west, Miami to Naples & up) we saw several car fires along I-75, all electric vehicles. I guess the owners didn't realize that those batteries had salt water intrusion that had already set in and would smoke them.

On another front, just heard NBC local news calculate not what WR's news piece had predicted, but a new estimate of anywhere from 300,000 to 350,000. cars with possible storm damage from Ian. I don't know if they meant only Florida or were estimating the several states impacted by Ian.

That was one of the reasons we left. Not only to protect us, but our vehicles too. Our cars remained high and dry.

[beachmouse]

Article I found today on how to avoid buying a flood car-

https://wsvn.com/news/investigations...hurricane-ian/

[WRnative]

Despite $1 billion of reinsurance protection, Progressive Insurance reported almost $600 million of vehicle catastrophe losses in its third quarter. Given the likelihood of higher reinsurance premiums, and future Florida losses as the probability of Florida catastrophes increase, Progressive would appear likely to significantly increase Florida vehicle insurance rates, especially in counties more vulnerable to storm losses.


https://www.carriermanagement.com/ne.../13/241323.htm

[WRnative]

While losses from Hurricane Ian will impact Florida auto insurance rates, the impact may be dwarfed by other auto insurance issuance issues that make Florida auto insurance the most expensive in the nation.


<<An analysis from insure.com ranks Florida as the most expensive state in the nation for auto insurance, with the average premium at $2,560 a year, or $213 a month. That’s a 23% increase in rates from 2021....


Another factor in Florida’s auto insurance rates being among the highest in the nation are our frequent storms and flooding...>>


https://floridaphoenix.com/2022/11/2...ng-in-florida/


BTW, Florida drivers seriously should consider purchasing uninsured motorist coverage:


<<Also, one out of every 5 drivers (20.4 percent) in the state is uninsured, the sixth highest rate in the nation.>>