Car Insurance Renewal Question

**kerf** · September 10th, 2010 09:18 AM

Hi guys,

Tanong ko lang. Meron akong car loan sa BPI. Mageexpire na kasi yung car insurance ko this sunday. Kaso, ngayon lang dumating yung updated policy ko (hindi BPI/MS). Since holiday ngayon, sa Monday ko pa sya madadala sa BPI (which is after the insurance policy expiration on Sunday).

Kaso, sa BPI, autorenewal sya sa BPI/MS pag hindi ka nakapagrenew by the expiry date. Pwede pa kaya ihabol yung bagong insurance policy ko na hindi BPI/MS sa Monday? Baka kasi magdoble ang insurance ko! :P

Thanks in advance..

**mark_t** · September 10th, 2010 10:28 AM

Originally Posted by kerf

Hi guys,

Tanong ko lang. Meron akong car loan sa BPI. Mageexpire na kasi yung car insurance ko this sunday. Kaso, ngayon lang dumating yung updated policy ko (hindi BPI/MS). Since holiday ngayon, sa Monday ko pa sya madadala sa BPI (which is after the insurance policy expiration on Sunday).

Kaso, sa BPI, autorenewal sya sa BPI/MS pag hindi ka nakapagrenew by the expiry date. Pwede pa kaya ihabol yung bagong insurance policy ko na hindi BPI/MS sa Monday? Baka kasi magdoble ang insurance ko! :P

Thanks in advance..

Yes that BPI/MS would renew at expiry date.
Hindi na po puede ihabol yon bago nyo na policy because you have the whole year to inform your insurer that you are looking for another insurer.

One of the endorsement on your contract is this

IT IS HEREBY DECLARED AND AGREED that loss/damage under this
policy, if any, shall now be payable to the bank, or as their interest may appear subject to the terms, conditions, warranties and clauses of this
policy.
IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT this Policy or any
renewal thereof shall not be cancelled without prior written notification
to and conformity by BPI/MS.

In practice 2 months before expiry nag start na ng submission ng insurance policies sa bank to give them time to review any endorsements contrary to their interest.

They have written you notice and you have not replied back that you are
changing your insurer. The bank is also a part owner of the car until fully paid. You should have informed your bank.

And besides why are you doing the legwork? Dapat yon insurer na gusto
mo ang nag aasikaso nito at hindi ikaw. alam naman nila na mortgaged
property yan.

Kung gusto ng new insurer mo ang business nyo then i service ka nila
hindi yon nakabitin ka sa ere at bahala ka sa buhay mo.

Kung kanino mo binili ang policy, then sa kanya mo ipa trabaho yan.
Me servicing agent dapat lahat ng policy.

There is something wrong if there is no servicing agent.

The policy becomes non compliant.

This is where the problem starts.

Have you talked to your BPI/MS servicing agent about this?
Kung wala ka servicing agent, that is the reason why you have
a problem now. You have a non compliant policy.

The insurance industry is a regulated industry
and should adhere to regulatory compliance.

Try mo rin first thing in the morning monday baka hindi
pa na print yon BPI/MS policy mo. Pasama ka sa servicing agent
ng new policy na ipapalit mo.

Kalookohan yan ginawa sa iyo eh, Bakit sa iyo dinala yan policy dapat
sa bank at may duplicate or receiving copy lang kayo. Hindi mo kailangan
sa bahay mo yan policy, dapat sa bank at doon nila dapat ipadala
at sila na dapat gumawa. Ano naman ang magagawa mo sa policy na iyan
on a holiday na pinadala nila, wala kang magagawa diyan.
At alam nila ito at kung ano ang tamang gagawin. At mali ang ginawa sa iyo.

**kerf** · September 10th, 2010 01:23 PM

thanks sa reply

eto kasi sabi sakin ng agent ko. kausapin ko nga ulit hehe.

**mark_t** · September 10th, 2010 01:33 PM

Originally Posted by kerf

thanks sa reply

eto kasi sabi sakin ng agent ko. kausapin ko nga ulit hehe.

Pagalitan mo.

**kitty22** · June 27th, 2011 08:21 PM

Guys, gud pm saan ba maganda mag pa renew ng insurance? Masyadong mataas ang quote ng Malayan na parang tulad pa rin last year, the odd part pa hindi ako pwede mag renew sa other company nila kesyo may breech of contract...Please give me advice. TIA.

**derf8666** · June 28th, 2011 09:11 AM

*kitty22, as far as I know, there is no such exclusivity regarding renewal of insurance coverage, unless you have specifically signed anything that would tie you down to that particular company. May napirmahan ka ba noon na you agreed to have it insured with them? It's your property, its your choice to have it insured kahit kanino na gusto mo. Most of the companies doing business here is ok if you have a licensed agent to take care of you. What is your unit and how much coverage do you require?

**Hanren** · June 28th, 2011 11:43 AM

Originally Posted by kitty22

Guys, gud pm saan ba maganda mag pa renew ng insurance? Masyadong mataas ang quote ng Malayan na parang tulad pa rin last year, the odd part pa hindi ako pwede mag renew sa other company nila kesyo may breech of contract...Please give me advice. TIA.

Ganyan talaga ang Malayan. Nagrenew na rin ako ng insurance sa kanila last week at halos hindi nagbago ang rates nila from last year. And to think na pang 3rd year ko na ito sa kanila and I've never made a claim. Wala lang kasi akong time na magscout pa ng ibang insurance companies..

Pero wala naman nakalagay sa policy ko na dapat sa kanila lang ako kumuha ng insurance. Bale renewal notice lang natanggap ko..

**kitty22** · June 28th, 2011 12:27 PM

Originally Posted by derf8666

*kitty22, as far as I know, there is no such exclusivity regarding renewal of insurance coverage, unless you have specifically signed anything that would tie you down to that particular company. May napirmahan ka ba noon na you agreed to have it insured with them? It's your property, its your choice to have it insured kahit kanino na gusto mo. Most of the companies doing business here is ok if you have a licensed agent to take care of you. What is your unit and how much coverage do you require?

Sir, thank you very much for the info.Wala naman ako pinirmahan as far as I can remember. (Kahit short term memory loss ako.) It's Mitsubishi Strada 2010, and I was able to talk to Mike sa Direct Link. Pero based nga sa pagkakaintindi ko not necessary na sila dapat ulit. Ang taas naman kase. I appreciate your help.

**chrismarte** · June 28th, 2011 06:27 PM

ask ko lang mga boss, maipaparehistro ba ang car na under pa ng loan kahit di marenew ang insurance? TIA

**dale323** · June 28th, 2011 07:18 PM

Originally Posted by kitty22

Sir, thank you very much for the info.Wala naman ako pinirmahan as far as I can remember. (Kahit short term memory loss ako.) It's Mitsubishi Strada 2010, and I was able to talk to Mike sa Direct Link. Pero based nga sa pagkakaintindi ko not necessary na sila dapat ulit. Ang taas naman kase. I appreciate your help.

Bro, I know Mike from Direct link. Siya din kasi yung kausap ko sa direct link. Actually, siya na yung nag-asikaso nun. Sinabi ko lang from what bank nakamortgage yung kotse ko.