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Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23,000 now await processing and retitling to be auctioned off for parts or to be scrapped. That is just one of several insurance industry salvage locations where more than 422,000 insured vehicles damaged by Harvey have been taken for processing. According to the National Insurance Crime Bureau (NICB), these totals surpass the number of claims that resulted from Hurricane Katrina (approx. 300,000) and from Superstorm Sandy (250,500).
In addition, more than 215,000 claims have been filed following damage to vehicles from Hurricane Irma in Florida.
These insured vehicles will be processed and rebranded with a salvage title and sold at online auctions to dismantlers who will save usable parts or have the vehicle crushed and sold for scrap.
To view the multimedia release go to:
http://www.multivu.com/players/English/76652512-nicb-reports-record-number-of-hurricane-flooded-vehicles/
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