NICB: Mississippi Acts to Protect Buyers from Flood of Flooded Vehicles
DES PLAINES, Ill., Jan. 11, 2018 /PRNewswire-USNewswire/ -- The Mississippi Insurance Department and the Mississippi Collision Repair Association have teamed up to protect residents from buying cars damaged by Hurricanes Harvey and Irma.
Following the two storms, officials say thousands of flood-damaged vehicles have made their way from Texas, Louisiana and Florida into Mississippi to be eventually sold to unsuspecting buyers. Many of the cars have been sold to unscrupulous dealers or dismantlers who will clean them up, retitle them and sell them for a quick profit. According to the Mississippi Insurance Commissioner, Mike Chaney, the biggest threat is from cars that were not insured for flood damage.