Social networks are full of photographs and videos of flooded streets. Cars stall in the middle of puddles, lose license plates, and run over foreign objects in the water. "Delfi Business" found out in which cases insurance companies will compensate for damage and in which they will refuse to pay. According to the head of the Latvian Association of Insurers Janis Abashin, a CASKO insurance contract may provide for two options – insurance of specific risks, when the policy covers only the risks listed in it , or all risks, i.e. when the policy covers all unforeseen events leading to damage or loss of the insured object. All-risk insurance will cover all damage caused by your vehicle driving into a flooded area. However, losses will be covered if the risk of “water hammer” (or “entry into water”, “entry into puddles, flooded roadways” or a similar definition, depending on the insurer) is selected. “This risk is not always included in the basic/standard risk package, so when insuring a car you should make sure that it is included in the policy,” advises Abashin.
