Watch Out for New Stream of Flood-Damaged Cars

When there is a flood, watch out for Car Dealer Fraud, selling flood damaged vehicles. That is what happened after Hurricane Katrina. Now, the historic floods that raged in Louisiana last month damaged an estimated 100,000 insured vehicles.

The National Insurance Crime Bureau said the number of uninsured vehicles damaged by flooding may be even more than those that are insured because owners may have chosen to drop coverage of aging vehicles.

The flooding also hit new-car dealerships hard. It initially closed or disrupted 60 to 80 dealerships, with a handful of them losing their entire inventory of new and used vehicles.

Always have your vehicle professionally inspected by an independent inspector. Look under the matting in the trunk, be wary of foul odors, etc.