Wildfires and Flooding Threaten Colorado Motorists

Red and orange fireWildfires and other natural disasters can be financially devastating for vehicle owners who are unprepared, since not all insurance policies cover damage caused by fire or flooding. Motorists need to purchase this additional protection for an additional cost. With the High Park fire roaring near Fort Collins, Colo., property owners in the Centennial State are urged to re-evaluate their policies.

As of June 22, the High Park fire has already consumed well over 68,000 acres of land in Larimer County. The Denver Post reports that at least $21.6 million has already been spent to combat the flames that continue to spread. Already over 190 homes have been lost. For a single property owner, this could translate into thousands of dollars worth of damage, and potentially more if they’re underinsured.

To help pay for vehicle damage, residents living in areas prone to natural disasters are encouraged to buy comprehensive coverage. This protection covers a wide range of damages, which includes fire, flooding, falling objects, vandalism, and theft. If a policyholder is forced to file a claim, they end up paying only their deductible. This is the amount that the insured motorist agrees to contribute to the cost of repairs. The more that a driver contributes, the lower their insurance costs will be.

Possible Flooding on Its Way

The current wildfires in CO are not the only reason for residents to invest in additional coverage. When a fire passes over acres of land it quickly consumes all of the surrounding vegetation. Unfortunately, the root systems of those plants helped to prevent erosion. As a result, heavy rains after large fires often leads to increased flooding and devastating mudslides.

After the High Park fire is put to rest, the surrounding area will be virtually barren and primed for landslides, and any automobile that is caught in a river of mud is likely to be destroyed. If the vehicle owner hasn’t purchased sufficient auto insurance, they may end up absorbing the losses.

Motorists who live in areas that are particularly prone to these natural disasters may find that their coverage costs are higher. The reason for this is because insurers understand the potential risks associated with wildfires and subsequent flooding. Drivers who live in these areas may be charged for high risk car insurance because of their increased probability of filing a claim in the near future.

To avoid costly coverage and the possibility of being caught underinsured, Colorado residents are encouraged to re-evaluate their policies and purchase additional protection long before wildfires or subsequent flooding does damage to their automobile.

Source: http://www.onlineautoinsurance.com/high-risk/

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About Matthew Morisset
Matthew Morisset is a proud alumnus of the University of Redlands, where he obtained a degree in English Literature. Utilizing his passion for analysis and writing, Matthew looks for important trends in the auto insurance industry and their implications for consumers and the market as a whole.

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