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GUANGZHOU - Huang Guansen was initially puzzled when he was repeatedly refused coverage for water damage to his new car by a number of insurance companies in this Guangdong provincial capital.

He is a 44-year-old white-collar worker, who is employed by a logistics company and was able to afford a new 200,000 yuan ($29,000) foreign car, but what he cannot buy is insurance coverage for water damage.

He is not alone. Since torrential rains battered the city, flooding more than 15,000 cars over the past week, claims have soared, leading insurance companies to suspend water damage coverage for car owners in Guangzhou.

As for those seeking to make a claim, many insurance companies have told the car owners that they may either not compensate or fully compensate the claimants because they never specifically purchased water damage insurance for their vehicles.

"Now I really do not know where or how to buy water damage insurance for my car," Huang said on Monday.

An insurance agent, surnamed Chen, from the Tianhebei branch of the China Life Insurance Company, said water damage insurance was available from his company about a year ago and he does not know why it was suspended.

According to insurance company insiders, many companies have suspended coverage for water damage because of the high risk posed by the owners living in Guangdong. Situated in the country's subtropical zone, the province is frequently hit by storms, typhoons and torrential rains, which lead to huge economic loss every summer.

"A car owner usually paid less than 100 yuan for water damage insurance a year, but the insurance companies may have to pay compensation valued at more than 100,000 yuan when a car is damaged by flooding, especially if the engine is involved," an insurance insider said.

According to the Guangdong bureau of the China insurance regulatory commission, 15,000 claims for compensation for the flood-hit cars have already been filed in the past week.

And the total amount of insurance compensation has been estimated to reach more than 130 million yuan.

Car owners and insurance companies are now busy negotiating over compensation deals.

Some insurance companies have said they will abide by the relevant laws, insurance regulations and contracts in paying compensation to car owners.

This indicates that those who had not already purchased water damage and other related insurance for their vehicles will not compensated, insiders said.

The Guangdong bureau of the China insurance regulatory commission has recommended that insurance companies adopt a "people-oriented attitude" when dealing with claimants, and to endeavor to further simplify the procedures for those seeking to make claims for damage to their vehicles in the recent flooding.

CHINA DAILY

(China Daily 05/18/2010 page3)