Comprehensive insurance...Is it really worth it?

[j_avonni]

but isn't that because the financing company actually requires it therefore it's part of your obligation to have it insured?

our situations become the same when you're fully paid. what are your reasons not to insure after the fifth year? thanks!

My current financing is not strict about the insurance because they aren't requiring me to submit the insurance policy to them. Unlike my previous financing, they always reminded me to submit the policy to them every renewal, otherwise, they would be the one to get the insurance chargeable to me.

My reason for not insuring it, maybe, after the 5th is, obviously, to save on premium.

[1D4LV]

its worth it because try to imagine the costs of repairing your car, the other parties car in case of accident and other people that may be involved in any accident. imagine how much it would cost if if that amount would come from your pocket..

[topgun]

hindi ba pwede after ka maaksidente assuming walang other party involved tsaka ka lang kumuha ng comprehensive insurance then

kung covered ka na after one week have it repaired charge to insurance pwede di ba?? hmmm evil minds

[bardigones]

Yes. It is worth it. For me, at least.

[theveed]

Insurance = In Case Sh1t...

hehe

The only thing that you knowingly and willingly pay for but never hope to use.

[OTEP]

I don't know. No one will insure me anymore. hehehe. Sobrang tanda na kasi ng sasakyan.

And if you pay Php14,000/year for insurance, itabi mo na lang. Isang beses pa lang ako na-aksidente worth more than Php14,000.

Siguro dahil may mga kaibigan din akong talyer that won't charge me industry standard rates for their work kaya hindi din ganun kamahal magpagawa for me.

Kung total naman or stolen, ayon dun sa quote ng insurance, ang liit na din ng makukuha ko. I'm better off parting out the vehicle on my own (if totalled).

Ang sugal na lang diyan ay theft. Pero as I've said, barya na lang ang ibibigay ng insurance in case that happens (what can you expect from a 10 year old and 19 year old car?).

[orly_andico]

*theveed, correct!

here's a "fine" example.

your brakes fail and you rear-end a bimmer. now all bimmers have compre, right? maybe. but even if the bimmer owner makes a claim on his/her compre, there's the matter of participation (which is bound to be large!) and sharing the cost of the replaced part. remember the insurance company will not undertake the entire cost of the repair, the insurance holder has to share some of it.

so whichever way you look at it, if you don't have insurance and mister bimmer does, there will still be (reduced) hell to pay. and if you're at fault, of course you will be the one to pay.

and that's not even counting the damage to your car. at least, if you have comprehensive insurance, the claim can be made against your insurance, which almost certainly would have a lower participation. (unless you hit a BMW 3-series with your 7-series.. in which case you don't need compre).

the last 3 years of compre i paid was all "paid back" when i got hit by a truck. so yes, definitely i'd recommend it. in fact i just renewed.

[totoybato]

I would say, worth every centavo you paid. Tulad ng iba pang insurance , what you are paying for is for your peace of mind.

[Bogeyman]

Three months ago, I would have been set back by at least 50k in repairs if I didn't have comprehensive insurance. Buti na lang, 7k lang yung total cash na nilabas ko. Personally I think it's worth it.

[theveed]

Otep: Akin kasi it's not the damage of my own car, it's the other person's car I'm worried about.

Like 2 years ago, my W123 had a very light bump to a Civic's hatch's butt, all my Benz had was a dented chrome cowl, while the Civic's bumper, hatch was dented severely, bayad padin.

What if nabangga mo bagong kotse and medyo malaki sira, a 6 figure repair bill is not an impossibility even sa normal traffic speed impact.