BPI MS insurance problems.

[scharnhorst]

Just an update... Our mazda2 was just declared a total wreck... Currently waiting for the approval...

Sir nyagi, just wondering kung gaano katagal na kayo naghihintay ng fair market value

[nyagi]

Just an update... Our mazda2 was just declared a total wreck... Currently waiting for the approval...

Sir nyagi, just wondering kung gaano katagal na kayo naghihintay ng fair market value

kakatapos pa lang mag inspect ng adjuster. till now wala pa FMV.. it's been 2 weeks since it was declared total loss by the insurance agent (or personnel handling the claim). expecting the fmv anytime within the week. sana nga dumating.

[dfopiso]

pag labas ng FMV at hindi ka satisfied, imo you can negotiate for a higher value kung low mileage pa auto

[nyagi]

pag labas ng FMV at hindi ka satisfied, imo you can negotiate for a higher value kung low mileage pa auto

thanks sa tip sir!

[mark_t]

pag labas ng FMV at hindi ka satisfied, imo you can negotiate for a higher value kung low mileage pa auto

Fair Market Value is the amount your vehicle is currently being sold in the open market.

How do you negotiate for a higher value?

So if you lost your car at odo 12000kms? Do you use this as a basis for your position?

What will be your supporting document to claim for a higher value?

[_Qwerty_]

ang alam ko sa FMV eh sa age lang talaga kinukuha.. kahit 1K lang odo mo it doesn't matter.. basta yearly nag de depreciate ang FMV..

[mark_t]

ang alam ko sa FMV eh sa age lang talaga kinukuha.. kahit 1K lang odo mo it doesn't matter.. basta yearly nag de depreciate ang FMV..

Yon din ang alam ko na basis. AGE

Sa iba nakikita ko AGE and Market Condition. So mas mababa pa sila magsettle ng total loss.

[_Qwerty_]

insurance uses ::Welcome to IMSI for their FMV so pare pareho yan.. they just type in the make, model and year..

[mark_t]

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

Mas lalo ka aayaw pag marunong ka mag compute ng claim.

[nyagi]

UPDATE:

just got the letter from the insurance. it was dated sept 27 pa! adjuster just submitted the report yesterday (after 2 weeks). so tama ung sinabi sa akin ng personnel na parallel nila inaasikaso claims ko. just have to wait report from adjuster.

anyway.. insured value was around 409k. FMV is at 384k less deduction of 2045, total of 382k. to be honest, i find the fmv really fair. i guess no need to haggle? the 382k offer is all in na right? buo ko makukuha?

though may 1 pang offer, i keep the salvage pero will settle only at 172k. :P

[reactor]

based on my experience with my insurance broker, we always settle the insured value ng car sa FMV as per his advise. kasi if you will increase the price of the insured vehicle, tataas ang premium mo BUT once you make such claim (total wreck) sa FMV pa din mag base yung insurance. another tricky part pa ay say jan '12 ka nagpa insure ng car mo at a price of 1M then na wreck ang car mo after 6 months hiondi mo na makukuha yung 1M na insured value kasi depreciated na uli ang car mo in a span of months UNLESS na wreck ang car mo on the same month mga docs fee lang ang ibabawas sa insured value.

[nyagi]

insured value was set by the insurance when i got the policy. anyway, nakausap ko na sila ulit. i guess the amount given can be stretched by another 5k if willing to wait pa ako. she said it has to undergo the cycle again. di daw nya kaya ipa-approve insured value because:
a. they have to consider depreciation cost (5 months after the policy was paid)
b. adjuster's assessed value of the vehicle is very close to the FMV they got. difference of 500 pesos lang daw.

bottom line, i signed the offer. check will be ready by monday.

TS: hope your claim is moving as well. good luck!

[tribal]

normally how many days ang processing kapag nagfile ng claim?almost 2 weeks na di pa din naapprubahan claim ko...e ang liit lang ng damage..till now nasa processing pa daw..

i asked them kung ganun ba talaga katagal and according to them e hindi naman daw, nataon lang na madami nagclaim daw nung habagat.so not sure kung dahilan lang yun or talagang matagal.first time ko kasi magclaim sa insurance e..

[tribal]

normally how many days ang processing kapag nagfile ng claim?almost 2 weeks na di pa din naapprubahan claim ko...e ang liit lang ng damage..till now nasa processing pa daw..

i asked them kung ganun ba talaga katagal and according to them e hindi naman daw, nataon lang na madami nagclaim daw nung habagat.so not sure kung dahilan lang yun or talagang matagal.first time ko kasi magclaim sa insurance e..

[Lapella]

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.

What if you haven't talked to the agent/serial number in the policy yet, and you already forwarded your claim docs to the bank as the bank will forward it to the insurer. If we try to contact this said agent/serial number, will he/she instruct me to submit again the necessary docs for claims? Or he/she can check with the insurer if I have already submitted my docs and he/she can take over for me from there?

[mark_t]

What if you haven't talked to the agent/serial number in the policy yet, and you already forwarded your claim docs to the bank as the bank will forward it to the insurer. If we try to contact this said agent/serial number, will he/she instruct me to submit again the necessary docs for claims? Or he/she can check with the insurer if I have already submitted my docs and he/she can take over for me from there?

1. You only submit claims document or files once.
Atleast 2 copies, 1 for your insurer and 1 for your file time stamped RECEIVED.
2. Your servicing agent takes it from there.

[mark_t]

We finally have a claim with BPI-MS. Participation at Php5392.50
For a broken windshield they are offering us PHP 3,107.05 cash settlement.

On a average claim of around 50kplus for a broken windshield, aba inu ungoy ata ako nito.

So CASA repair na lang parts plus labor pa.

[a9828]

We finally have a claim with BPI-MS. Participation at Php5392.50
For a broken windshield they are offering us PHP 3,107.05 cash settlement.

On a average claim of around 50kplus for a broken windshield, aba inu ungoy ata ako nito.

So CASA repair na lang parts plus labor pa.

dapat tinakot mo na magsusumbong ka sa insurance commission. kaya nga sila nandiyan di ba para sagutin yung actual costs kapag kailangan na

[mark_t]

No need, ipasok ko na lang sa Casa, I have just received the repair estimate of 70,114php from the dealer.

Pray it does not break again.

[nhiecah_nice29]

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