BPI MS insurance problems.

**scharnhorst** · August 31st, 2012 11:55 AM

Thanks on th inputs, fellows. Right now we're still waiting on the decision which will hopefully be finalized by next week... Kung wala pa rin, we might have to seek legal help.

**_Qwerty_** · August 31st, 2012 11:57 AM

you meant a broker? usually mas mura nga pag may broker kasi they get big discounts sa insurance.. and yes... mas ok din kasi sila na mag aasikaso nang claim mo..

Originally Posted by axelross

sir TS sorry to crash your thread, off topic lang..na curious ako, what do you mean by "for the same price"? so if you hire an agent and get insurance directly sa insurance company same lang bayad? was thinking mas mahal pag kukuha ng agent kc babayaran mo xa pero idk, how does that work really? ty in advance

**jdee12** · September 1st, 2012 09:42 AM

Ang ayaw ko lang sa BPI MS ang mahal ng participation fee nila para sa GS ko.

**mark_t** · September 5th, 2012 12:54 PM

You always have an Agent. There will be a serial number in your policy identifying your Agent.
Broker, Agent, Intermediary, etc there is always a person behind these names.

The insurance industry is a regulated industry, hindi kayo puede gawing ''tanga".

And your agent can not avoid work by avoiding you and hiding by saying you are a "direct."

That is just crap.

Call your insurer and ask your agent to call you.

**mark_t** · September 5th, 2012 12:58 PM

Originally Posted by scharnhorst

Thanks on th inputs, fellows. Right now we're still waiting on the decision which will hopefully be finalized by next week... Kung wala pa rin, we might have to seek legal help.

You can also ask for total loss to resolve the matter.

**scharnhorst** · September 6th, 2012 06:10 PM

For approval na raw ang total loss...

now it's time to wait how much their fair market value is.

**mark_t** · September 7th, 2012 01:05 AM

Example:

Your insured amount is 1,000,000.

Your settlement will be 1,000,000 minus 1 year depreciation 100,000.

Equals 900,000.

Sign conforme. Hand over all original documents, key plus spare key.

Check release in 30 days.

**nyagi** · September 7th, 2012 05:32 PM

Originally Posted by mark_t

Example:

Your insured amount is 1,000,000.

Your settlement will be 1,000,000 minus 1 year depreciation 100,000.

Equals 900,000.

Sign conforme. Hand over all original documents, key plus spare key.

Check release in 30 days.

less 1 year depreciation talaga? kahit 3 months ago lang nag renew ng insurance?

same here.. waiting for the fair market value of a totalled vehicle under BPI/MS

**derf8666** · September 7th, 2012 11:32 PM

It depends on how "fair" your amount insured is. If youre insured at 1m and the actual fair market value of the vehicle is around 1m actually at the time of loss, then the insurance will have to pay you 1m less the deductible. Also it depends on the insurance company. And remember, if they will try to pay you anything lower than the fair market value, you can always negotiate.

**mark_t** · September 10th, 2012 03:08 AM

Originally Posted by nyagi

less 1 year depreciation talaga? kahit 3 months ago lang nag renew ng insurance?

same here.. waiting for the fair market value of a totalled vehicle under BPI/MS

Is it not fair enough?

For me it is fair enough.