insurance cash claim

[kentdiddy]

good am mga bros/sis. just would like to get advise from you guys. nabangga kasi auto ko(immovable unless i-tow) and i would like to get a cash claim instead para sa kakilala kong talyer nalang gagawin. reason for cash claim is iniiwasan ko lang maisahan ng insurance ko dahil malaki talaga ang damages sa auto. peoples gen ang insurance ko by the way. baka kasi palabasin nila na "brand new" yung mga parts so i would have to shell out cash due to depreciation eh marami na din akong mapagkukuhanan ng parts.

marami na kasi akong naririnig na horror stories about my insurance company so i need advise on this. nasubmit ko na sa kanila lahat ng documents including yung estimate ng talyer. as of now kasi, pinipilit nila akong ipatow sa kanila then dadalhin nila sa talyer nilang accredited which is VIOLAGO sa WEST AVE para maestimate. sa pagkakaalam ko, dapat puntahan ng adjuster yung talyer where my car is right now but they strongly refuse. sobrang they're steering it their way. inooppose nila lahat ng sabihin ko. i feel may vinaviolate sila sa insurance code because i have read this part from the insurance code of the phils from this site: http://www.insurance.gov.ph/htm/pd612.htm

Title 11
CLAIMS SETTLEMENT

Sec. 241. (1) No insurance company doing business in the Philippines shall refuse, without just cause, to pay or settle claims arising under coverages provided by its policies, nor shall any such company engage in unfair claim settlement practices. Any of the following acts by an insurance company, if committed without just cause and performed with such frequency as to indicate a general business practice, shall constitute unfair claim settlement practices:

(a) knowingly misrepresenting to claimants pertinent facts or policy provisions relating to coverage at issue;

(b) failing to acknowledge with reasonable promptness pertinent communications with respect to claims arising under its policies;

(c) failing to adopt and implement reasonable standards for the prompt investigation of claims arising under its policies;

(d) not attempting in good faith to effectuate prompt, fair and equitable settlement of claims submitted in which liability has become reasonably clear; or

(e) compelling policyholders to institute suits to recover amounts due under its policies by offering without justifiable reason substantially less than the amounts ultimately recovered in suits brought by them.

(2) Evidence as to numbers and types of valid and justifiable complaints to the Commissioner against an insurance company, and the Commissioner's complaint experience with other insurance companies writing similar lines of insurance shall be admissible in evidence in an administrative or judicial proceeding brought under this section.

(3) If it is found, after notice and an opportunity to be heard, that an insurance company has violated this section, each instance of non-compliance with paragraph (1) may be treated as a separate violation of this section and shall be considered sufficient cause for the suspension or revocation of the company's certificate of authority.

Sec. 242. The proceeds of a life insurance policy shall be paid immediately upon maturity of the policy, unless such proceeds are made payable in installments or as an annuity, in which case the installments, or annuities shall be paid as they become due: Provided, however, That in the case of a policy maturing by the death of the insured, the proceeds thereof shall be paid within sixty days after presentation of the claim and filing of the proof of the death of the insured. Refusal or failure to pay the claim within the time prescribed herein will entitle the beneficiary to collect interest on the proceeds of the policy for the duration of the delay at the rate of twice the ceiling prescribed by the Monetary Board, unless such failure or refusal to pay is based on the ground that the claim is fraudulent.

The proceeds of the policy maturing by the death of the insured payable to the beneficiary shall include the discounted value of all premiums paid in advance of their due dates, but are not due and payable at maturity.

Sec. 243. The amount of any loss or damage for which an insurer may be liable, under any policy other than life insurance policy, shall be paid within thirty days after proof loss is received by the insurer and ascertainment of the loss or damage is made either by agreement between the insured and the insurer or by arbitration; but if such ascertainment is not had or made within sixty days after such receipt by the insurer of the proof of loss, then the loss or damage shall be paid within ninety days after such receipt. Refusal or failure to pay the loss or damage within the time prescribed herein will entitle the assured to collect interest on the proceeds of the policy for the duration of the delay at the rate of twice the ceiling prescribed by the Monetary Board, unless such failure or refusal to pay is based on the ground that the claim is fraudulent.

Sec. 244. In case of any litigation for the enforcement of any policy or contract of insurance, it shall be the duty of the Commissioner or the Court, as the case may be, to make a finding as to whether the payment of the claim of the insured has been unreasonably denied or withheld; and in the affirmative case, the insurance company shall be adjudged to pay damages which shall consist of attorney's fees and other expenses incurred by the insured person by reason of such unreasonable denial or withholding of payment plus interest of twice the ceiling prescribed by the Monetary Board of the amount of the claim due the insured, from the date following the time prescribed in section two hundred forty-two or in section two hundred forty-three, as the case may be, until the claim is fully satisfied; Provided, That the failure to pay any such claim within the time prescribed in said sections shall be considered prima facie evidence of unreasonable delay in payment.



360k ang coverage ko. estimated cost ng talyer ko na not accredited by them is 200k. i understand na hindi iaapprove ng insurance ko yung exact estimate namin but up to how much ang lawful? anong pwede kong gawin para maaprove nila cash claim ko which is a fair estimate naman? help is greatly appreciated! thanks in advance!

[kentdiddy]

up ko lang mga tsikoteers! need your inputs

[mark_t]

good am mga bros/sis. just would like to get advise from you guys. nabangga kasi auto ko(immovable unless i-tow) and i would like to get a cash claim instead para sa kakilala kong talyer nalang gagawin. reason for cash claim is iniiwasan ko lang maisahan ng insurance ko dahil malaki talaga ang damages sa auto. peoples gen ang insurance ko by the way. baka kasi palabasin nila na "brand new" yung mga parts so i would have to shell out cash due to depreciation eh marami na din akong mapagkukuhanan ng parts.

marami na kasi akong naririnig na horror stories about my insurance company so i need advise on this. nasubmit ko na sa kanila lahat ng documents including yung estimate ng talyer. as of now kasi, pinipilit nila akong ipatow sa kanila then dadalhin nila sa talyer nilang accredited which is VIOLAGO sa WEST AVE para maestimate. sa pagkakaalam ko, dapat puntahan ng adjuster yung talyer where my car is right now but they strongly refuse. sobrang they're steering it their way. inooppose nila lahat ng sabihin ko. i feel may vinaviolate sila sa insurance code because i have read this part from the insurance code of the phils from this site: http://www.insurance.gov.ph/htm/pd612.htm

Title 11
CLAIMS SETTLEMENT

Sec. 241. (1) No insurance company doing business in the Philippines shall refuse, without just cause, to pay or settle claims arising under coverages provided by its policies, nor shall any such company engage in unfair claim settlement practices. Any of the following acts by an insurance company, if committed without just cause and performed with such frequency as to indicate a general business practice, shall constitute unfair claim settlement practices:

(a) knowingly misrepresenting to claimants pertinent facts or policy provisions relating to coverage at issue;

(b) failing to acknowledge with reasonable promptness pertinent communications with respect to claims arising under its policies;

(c) failing to adopt and implement reasonable standards for the prompt investigation of claims arising under its policies;

(d) not attempting in good faith to effectuate prompt, fair and equitable settlement of claims submitted in which liability has become reasonably clear; or

(e) compelling policyholders to institute suits to recover amounts due under its policies by offering without justifiable reason substantially less than the amounts ultimately recovered in suits brought by them.

(2) Evidence as to numbers and types of valid and justifiable complaints to the Commissioner against an insurance company, and the Commissioner's complaint experience with other insurance companies writing similar lines of insurance shall be admissible in evidence in an administrative or judicial proceeding brought under this section.

(3) If it is found, after notice and an opportunity to be heard, that an insurance company has violated this section, each instance of non-compliance with paragraph (1) may be treated as a separate violation of this section and shall be considered sufficient cause for the suspension or revocation of the company's certificate of authority.

Sec. 242. The proceeds of a life insurance policy shall be paid immediately upon maturity of the policy, unless such proceeds are made payable in installments or as an annuity, in which case the installments, or annuities shall be paid as they become due: Provided, however, That in the case of a policy maturing by the death of the insured, the proceeds thereof shall be paid within sixty days after presentation of the claim and filing of the proof of the death of the insured. Refusal or failure to pay the claim within the time prescribed herein will entitle the beneficiary to collect interest on the proceeds of the policy for the duration of the delay at the rate of twice the ceiling prescribed by the Monetary Board, unless such failure or refusal to pay is based on the ground that the claim is fraudulent.

The proceeds of the policy maturing by the death of the insured payable to the beneficiary shall include the discounted value of all premiums paid in advance of their due dates, but are not due and payable at maturity.

Sec. 243. The amount of any loss or damage for which an insurer may be liable, under any policy other than life insurance policy, shall be paid within thirty days after proof loss is received by the insurer and ascertainment of the loss or damage is made either by agreement between the insured and the insurer or by arbitration; but if such ascertainment is not had or made within sixty days after such receipt by the insurer of the proof of loss, then the loss or damage shall be paid within ninety days after such receipt. Refusal or failure to pay the loss or damage within the time prescribed herein will entitle the assured to collect interest on the proceeds of the policy for the duration of the delay at the rate of twice the ceiling prescribed by the Monetary Board, unless such failure or refusal to pay is based on the ground that the claim is fraudulent.

Sec. 244. In case of any litigation for the enforcement of any policy or contract of insurance, it shall be the duty of the Commissioner or the Court, as the case may be, to make a finding as to whether the payment of the claim of the insured has been unreasonably denied or withheld; and in the affirmative case, the insurance company shall be adjudged to pay damages which shall consist of attorney's fees and other expenses incurred by the insured person by reason of such unreasonable denial or withholding of payment plus interest of twice the ceiling prescribed by the Monetary Board of the amount of the claim due the insured, from the date following the time prescribed in section two hundred forty-two or in section two hundred forty-three, as the case may be, until the claim is fully satisfied; Provided, That the failure to pay any such claim within the time prescribed in said sections shall be considered prima facie evidence of unreasonable delay in payment.



360k ang coverage ko. estimated cost ng talyer ko na not accredited by them is 200k. i understand na hindi iaapprove ng insurance ko yung exact estimate namin but up to how much ang lawful? anong pwede kong gawin para maaprove nila cash claim ko which is a fair estimate naman? help is greatly appreciated! thanks in advance!

Bakit hindi mo ipa accredit ang talyer na gusto mo at bakit hindi ito accredited?

Kahit dalhin mo pa sa IC yan hindi ka papanigan.
Bakit hindi accredited ang talyer mo?

Hindi kailangan puntahan ng adjuster ang sasakyan kasi LIBRE naman
ipa tow or isakay sa flatbed yan at dalhin sa repair facility. Lalong-lalo
na kung disabled na ang vehicle.

Kung ayaw mo na maisahan then wag ka pipirma ng release ng claim mo hangang hindi o fully tested ang sasakyan mo.

Puede mo naman pa estimate sa CASA yan.
Itawag mo sa towing at padala mo sa CASA at pa estimate ka.
Hindi naman nila ili-lipat sa repair shop nila yan ng hindi pa kayo
nagkakasundo.

Walang Cash Claim kung walang repair estimate.

Padala mo sa CASA and that will be a fair repair estimate.