Comprehensive insurance...Is it really worth it?

[swordsman]

It is very much worth it for me... sabi nga, peace of mind counts a lot. Lalo na dito sa Pilipinas na napakaraming 'wtf' drivers. Unless you're only driving in the barrio with only the kuligligs and kalesas to get into an accident with.

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

Pwede, kaya lang you might feel like a crook. At syempre, katakot takot na kasinungalingan gagawin mo.

Be carefull when buying insurance. My dad had a car, he bought the car under financing and got the mandatory insurance. It was from one of the better known insurance companies. All was well for 2 years, no claims. He just renewed the policy with them. On the 3rd year he had a small accident. Cost to fix was less than the premium. The insurance company gave us a hard time before they fixed the car. Come renewal time they told me that they will not renew the policy bec my dad filed a claim. I told the agent "what the **** diba kaya nga insurance! Its our 1st claim in 3 years and you will not renew? Walang kwentang company kayo ang laki nyo pa man!" Needless to say we never did business with them again.

pa-post na lang name ng insurance sir, para maiwasan...totoo namang nangyari yan. hehehe.

parang yung 'peace of mind' argument is the best one on behalf of getting insurance.

the 'cost argument' is based on a contingent event. it may not happen, and using scientific methods, the insurance company actually believes it probably won't happen. and it should be contextualized over time and not on just one incident.

using my actual experience, if assuming i've been driving for 15 years and got comperehensive insurance at P15,000 per year, i would have paid P225,000 in premiums and with the 6 accidents i've had, my participation would have been P18,000 for a total of P243,000 over 15 years.

this is opposed to to the estimated P50,000 worth of repairs in fender benders i've actually spent over the past 15 years. add the P14k premium and P3k participation. i i paid for insurance last year and it totals P67,000. this is how i base my thinking that it's not worth it unless the car is actually stolen or a total wreck.

insurance companies employ high paid actuaries who compute the probabiities of accidents that the company will have to pay for, and they wouldn't be in the business unless it showed a greater likelihood that accidents wouldn't happen. remember, their computations show that the scenario of brakes failing and rear ending a bimmer is actually unlikely.

on the other hand, there's murphy's law, if anything can go wrong, it will. or as even better said: sh*t happens. hayan, tumawag uli kanina yung insurance broker, humingi pa ng referrals. di ko pa natanong kung magkano na kaya premium ko dahil nag-claim ako.

salamat sa lahat ng nagbigay ng inputs. keep em coming.

If you're confident you'll only have 6 accidents in the next 15 years, then don't get one. Just set aside at least P60K for 'just in case you have an accident' scenarios.

[Bogeyman]

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

I don't know about the others, pero 'di yan makakalusot sa insurance company ko. For first time applicants, they will inspect the vehicle and note down any previous damage.

[XTO]

worth it esp kung most of the time is nasa labas ka or not

so safe pagdating sa parking. yearly naman bumababa ang

premium yun na lang ang konsuelo ko.

[IMm29]

i think it's worth it. thankfully, haven't had a need to use it the past few years, but anyways, as mentioned previously, better to have it and not use it, rather than not have it but need it.

[goodtj]

for me it was worth it i was sitting in traffic bigla may truck ng mmda tumawid ng center island ng edsa got me in the rear door, roof, trunk and rear fender. even though na participation lang binayaran ko ang bigat what more kung walang compri insurance and good luck trying to collect from the government (pati bus companies) sa mga damages na kasalanan nila this happened 2 yrs ago hanggang ngayon nasa court pa rin ibang tinamaan ng truck na yun

[niky]

Insurance is a gamble, yes, and you really have to consider your mileage when buying insurance. For example, our family drives up to 50,000 kms per vehicle per year. For us, insurance is worth it because, obviously, if you drive very long distances, and in traffic, to boot, the chances of an accident happening to you is high.

I felt bad about paying over 30k for insurance on a brand new car before... After paying 4k for a 300k repair job, all misgivings instantly disappeared. Insurance is wonderful. :lol:

[leolop]

after driving for a week without insurance (1 year with and almost 15 years without), nakakawala nga ng peace of mind. anyway renewed my contract with reduced value for lower premium. thanks a lot to all for their inputs.

[mikey177]

Murphy happens.

Yung Starex namin na two months old pa lang, nadale ng lumilipad na bato sa McArthur Highway. Magkano na ba magpapalit ng front windshield ngayon? Buti na lang may comprehensive insurance

[Gumusut_Amige]

Have tried driving w/o a compre insurance for one day only (not renewed yet at that time)... ang laki ng kaba ko. hehehe

[larshell]

Siguro dipende nalang kung lagi ka nasa hi-risk sa accident and Carnap. Ako para sakin its not worth it, twice a week lang naman ako nasa area na marmi accident and carnapping na nangyayari. Tama rin si Otep kung inponin mo yong 14k mas ok pa, isipin nyo nalang kung papano kumikita ang mga insurance co.