Insurance Association Compensates 660.8 Million for 79,731 Vehicles Sustaining Damage
Flooded Cars: Payments On the Way, But Are They Fast Enough?
Valencia, Jan 30 - The Consorcio de Compensación de Seguros has doled out a whopping 660.878.565 euros in compensation for the damage of 79,731 cars swamped by the flood, according to Pilar Bernabé, the Government Delegate in the Comunitat Valenciana.
Bernabé stated that three months into the aftermath, "we're already at 45% of the compensation paid," assuring that the figure will keep climbing as payments keep rolling out, as per the Government Delegation's report.
Understandably, people affected by the loss of cars, homes, or belongings might feel the compensation should come faster. However, Bernabé points out that if you compare this flood with the emergency caused by the La Palma volcano, which had seven times fewer compensation requests, it took ten months to reach 20% after the disaster.
Moving forward, the Spanish Government has commenced processing the first installments of the Plan Reinicia Auto+, a scheme already boasting 8,511 registered requests. The plan offers assistance up to 10,000 euros per vehicle purchased.
Pilar Bernabé explained that the Spanish Government has introduced a new, fuss-free plan, managed directly with the 1,367 adhered concessionaires. The simple process offers an alternative to mobility and can apply to any type of new vehicle.
What's more, the plan benefits those who bought retroactively, a move sought as positive both by citizens and concessionaires recovering from the flood, as well as manufacturers.
"The Government is revving up the sector and helping those affected to replace their vehicles," asserts Bernabé.
However, it's crucial to remember that the typical timeframe for vehicle damage compensation payouts by the Consorcio de Compensación de Seguros varies based on factors such as the number of claims, severity of the event, and damage assessment complexity. For precise information, it's best to contact the Consorcio de Compensación de Seguros directly or consult their official guidelines.
Recent floods in Spain have resulted in substantial economic costs[2], with payouts involving coordination with local authorities and damage assessments, which could affect processing times. In the face of rising climate trends and extreme precipitation events in Spain, efficient insurance claims processing has become crucial for effective disaster recovery efforts[1].
- The government in Valencia has initiated the first installments of the Plan Reinicia Auto+, a measure aimed at providing financial assistance for vehicle purchases, as part of the general news concerning flood recovery efforts.
- The Spanish Government, in collaboration with 1,367 concessionaires, has introduced a simplified plan that offers an alternative to mobility and compensation for those affected by the flood, which has been announced as a positive move by both citizens and industry stakeholders.
- Despite the government's efforts, the Consorcio de Compensación de Seguros typically requires time to process vehicle damage compensation payouts, factoring in elements such as the number of claims, event severity, and damage complexity. Individuals seeking precise information regarding their claims should directly contact the Consorcio de Compensación de Seguros or consult their official guidelines.
- As part of the education and self-development sector, it is important to be aware of the inevitable economic costs associated with natural disasters like floods and the subsequent measures that governments take to manage and compensate for these events, as illustrated by the recent floods in the Valenciana region.
