Upto What point do you pay your comprehensive insurance?

[cast_no_shadow]

Question tsikoteers!
hanggang ilang years kayo nagbabayad ng comprehensive insurance?
my ride is 4 years already, pero binabayadan ko pa din ng compre.
worth it pa din ba na magbayad kahit tumatanda na ang oto?
bumababa na ang value ng sasakyan as time goes by diba?
There's this friend of mine bought a brand new FD, ang lakas ng loob the year after his compre expired hindi na siya nag renew.. Bahala na daw hehe..
kayo ba?
any inputs?

[_Cathy_]

We only pay comprehensive until the 5th year. After that bahala na rin Seriously, mababa na kasi value ng car after the 5th year so we can absorb the cost of repairs na.

[Ginnova]

mostly pay up to 5 years kung kelan tapos na yung loan. required kasi ng bank.

[DBanker]

Insurance coverage depends on the term of the loan if the car was acquired thru loan-either thru bank or any fin institution... but after full payment of that car loan, you now have the option to continue availing or continuing that insurance with the same ins. co, or to an ins co of a friend...

you can now dictate the amount of your insurance coverage... parang "protection" lang... any amount will do,,, it shall depend on how much premium you still want to shoulder...

siempre mas secured pa rin yung may "compre"...

[imperialv]

as long as we own the car...

[[archie]]

^^ same here. as long as we have the car, we have it insured. mahirap na...

[derf8666]

We only pay comprehensive until the 5th year. After that bahala na rin Seriously, mababa na kasi value ng car after the 5th year so we can absorb the cost of repairs na.

Own damage is but only a part of comprehensive insurance. If you own a car, you must consider insurance as part of the expenses. One of the coverages of a comprehensive insurance is the vountary third party liability. Pag nakabangga ka tapos wala kang compre, what happens is that the one that you bumped will run after you, pester you with this and that expenses and every other imaginable expenses. If you dont pay up to the amount that they want, they could continue to hound you or even harass you, especially if they think you are kind of well off. If you have insurance, at least you can tell them "claim na lang po kayo sa insurance ko. kaya nga ako nagpainsure e.." and most likely the claimant will just shut up, problem solved.

[_Cathy_]

^Gawin ko na lang gawain ng mga naka motor. Magkamot ng ulo pag nakabangga. kidding. That's what they do to me anyway. hehe.

Kung makabangga ako and the car has comprehensive insurance, can I just pay for their participation lang?

I drive a 14 year old car and if I have it on comprehensive, I might be paying for 10% of the value of the car just for insurance?

TIA derf8666. Admittedly I still get confused with how insurance goes.

[n1kn0k]

Kung makabangga ako and the car has comprehensive insurance, can I just pay for their participation lang?

Depende sa nabangga mo. Pag mabait pwede mong pakiusapan na ideclare nya as own fault. Pag pumayag sya bayaran mo sya ng participation fee. Pag hindi naman sya pumayag, aside from the participation fee, hahabulin ka pa ng insurance company nya for the expenses.

I got my car through bank financing. I have two more years to go. I'll probably stop once I've paid the bank in full.

[_Cathy_]

^Thanks n1kn0k

Kapag ba nag claim ng own fault sa insurance, tataas ang participation pag nag renew?