RM18.8 million worth of vehicle damage due to flooding in 2022 – why need to add Special Risks insurance

There is no denying that flooding has a significant, far-reaching impact on those affected by floods, and this is all the more evident when flood damage is measured on a financial scale. .

in one special report on the impact of floods in MalaysiaThe Department of Statistics Malaysia (DOSM) revealed that the country suffered RM622.4 million in flood damage in 2022. Although the overall damage is negligible compared to 2021, when the damage was huge. RM 6.1 billion recorded, the psychological damage is no less severe, certainly not for those affected by those disasters.

The report broke down the areas of loss incurred. Public property and infrastructure topped the list with RM232.7 million (RM2021,2 billion), followed by housing with RM157.4 million (RM2021, RM1.6 billion) and
agriculture at RM154.5 million (2021, RM90.6 million). The property has also been hit hard, suffering a loss of RM50.3 million last year (2021, RM525.8 million).

On the automotive front, vehicle losses in 2022 amounted to RM18.8 million, down significantly from the RM982.8 million recorded for the segment in 2021. Of course, that’s not the case. A great consolation for those whose cars have been damaged by floodwaters, especially those without proper insurance, in this case are particularly perilous.

Flood risk is often overlooked when buying car insurance, and so flood or special danger insurance Boxes are usually never checked. Without it, there’s not much you can do to file a claim in the event your car is damaged by a flood (or any other form of disaster).

Last year, Zurich Malaysia reported that 59% of Malaysian drivers are not adequately protected against flood damagebased on a Pandemic Impact on Protection survey conducted with 990 vehicle owners in September 2021. The above statistics are a reminder that unexpected situations can arise. out and it’s best to be prepared.