Comprehensive insurance...Is it really worth it?

[boybi]

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.

if you use your car everyday, kahit na twice a week ka lang sa sinasabi mong high risk area, may risk pa rin. anong magagawa ng 14K mo kung malaki ang nasira sa car mo kahit minor accident lang?

[OTEP]

if you use your car everyday, kahit na twice a week ka lang sa sinasabi mong high risk area, may risk pa rin. anong magagawa ng 14K mo kung malaki ang nasira sa car mo kahit minor accident lang?

Iba ang rates ng out-of-pocket vs rates na pinadaan sa insurance. Sa Kia ko dati nabangga sa likod (my fault). Insurance estimate = Php13K, Out-of-pocket = P750.00. Yung sa Honda ni pinsan Php12k pa nasingil eh Php4,500 lang pala yung kung out-of-pocket (sariling bayad). Yung MB100 nasabit recently. Nung may insurance pa siya, yung ganung tama ay Php11k ayon sa estimate. Nung nabangga ulit at kami na lang nagpagawa sa Paintronix, Php4k ang total bill.

Talo ka kung wala kang insurance in cases of total wreck or theft.

Saka wala na ding gusto mag-insure ng mga sasakyan namin dito. Yung '97 Pajero ko na ang isa sa 'newer' vehicles. The rest halos puro mas matanda na sa akin.

[RedHotBlood]

we never had comprehensive insurance on our vehicles, accdg to erpats kasi invest nya na lang sa iba yung pera kesa ibayad sa insurance company. Nadala kasi sya noon sa l200 namin for five years naka comprehensive walang accident tapos nung naatarasan eh nagbayad pa kami ng participation fee na 4.5k? so compute namin yung 5 years na bayad tapos yung 4.5k eh parang binigay mo lang yung pera mo sa insurance? Ginastos lang nila eh 3.8k for the side bumper sa front according sa Mitsu casa. Kaya ngayon pagkatapos sa financing TPL na lang sa lahat ng auto namin. Laki pa ng tipid namin sa pera.

[jipi]

Insurance really is a gamble. so what i did i just get the minimum price value of my car and get corresponding insurance for it. For example, when i bought my car (710T) i paid 20T,then the ff year i devaluated it to 550t and cost me 16t. next year im planning to value it at it 400t or less. by ratio and proportion, i think itll cost around 13t........presently no claims yet.

i think it better to have a life/health/ insurance than a car insurance imho

[boybi]

Iba ang rates ng out-of-pocket vs rates na pinadaan sa insurance. Sa Kia ko dati nabangga sa likod (my fault). Insurance estimate = Php13K, Out-of-pocket = P750.00. Yung sa Honda ni pinsan Php12k pa nasingil eh Php4,500 lang pala yung kung out-of-pocket (sariling bayad). Yung MB100 nasabit recently. Nung may insurance pa siya, yung ganung tama ay Php11k ayon sa estimate. Nung nabangga ulit at kami na lang nagpagawa sa Paintronix, Php4k ang total bill.

Talo ka kung wala kang insurance in cases of total wreck or theft.

Saka wala na ding gusto mag-insure ng mga sasakyan namin dito. Yung '97 Pajero ko na ang isa sa 'newer' vehicles. The rest halos puro mas matanda na sa akin.

twice na akong nabasagan ng windshield. cost for a new windshield and moldings at casa is around 60K, my participation is 3K and insurance paid the rest.

cost of replacement (china) windshield sa labas is around 12K. 3K pa rin ang participation.

and what i usually do, kapag meron minor dents &/or scratches, hindi ko agad pinapagawa. basta't it will not impede the operation of the vehicle. kapag nabangga ulit sa same portion or near it, dun ko nalang isasabay pa-repair and claim sa insurance.

iba pa rin ang magdrive ng may peace of mind.

[boyscout]

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.

yep very true especially kung nabangga mo ay high end na kotse...to give you an example a bmw e46 fog light would cost you 25k a pair pano kung pati bumper nadamay.

[OTEP]

That's why instead of paying the insurance guy the insurance money, we just put it in a slush fund ready for immediate use. No paperworks, no processing, no red tape. We also have very rigorous training for drivers (including family members). Similar or even above and over the training of commercial vehicle drivers abroad.

As I've said earlier, insurance companies will not insure our vehicles anymore using the usual vehicle policies available. Kung meron man, parang walang kwentang policy din. Ang baba ng appraisal (probably to discourage some parties from just setting their cars on fire or throwing them off cliffs, hehe).

But I have nothing against comprehensive insurance and the insurance industry in general.

[boybi]

That's why instead of paying the insurance guy the insurance money, we just put it in a slush fund ready for immediate use. No paperworks, no processing, no red tape. We also have very rigorous training for drivers (including family members). Similar or even above and over the training of commercial vehicle drivers abroad.

As I've said earlier, insurance companies will not insure our vehicles anymore using the usual vehicle policies available. Kung meron man, parang walang kwentang policy din. Ang baba ng appraisal (probably to discourage some parties from just setting their cars on fire or throwing them off cliffs, hehe).

But I have nothing against comprehensive insurance and the insurance industry in general.

just like what i posted a few pages back, if you have many cars, you may opt not to get comprehensive insurance. just keep the money intended for the premium and use it for emergencies. for example, you have 5 cars, at an average premium of 20K for each car, you can already save 100K per year. basta't hindi lang macarnap or ma-total yung car, wala ka ng problema sa repairs sa own damage, pero dito ka mayayari:

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.

yep very true especially kung nabangga mo ay high end na kotse...to give you an example a bmw e46 fog light would cost you 25k a pair pano kung pati bumper nadamay.

[OTEP]

boybi,

Mahigit sila 5. Pero ang theft-prone ay yung Pajero lang. The others are just an eccentric mix of cars from the 50's, 70's, and 80's with some 90's-era na pang-harabas. Yung iba literal na galing sa basurahan so kung ma-total, parang sinoli na lang ulit sa basurahan. hehehe.

Yup, medyo malaki ang slush fund to take into account untoward incidents with other parties and dahil yung piyesa mismo ng mga vintage ay may pagka-pricey (lalo na trim parts, consumables are cheap enough). The bumper alone of the '46 Ford will make that BMW foglamp seem cheap.

Siguro kung mga 2 to 3 newer model cars, viable pa ang insurance. Yung scooter nga dito ni rehistro wala, eh. hehehe. Pang-village na lang.

[boybi]

otep, kelangan nyo talaga ng malaking slush fund. ang titigas ng body ng mga vintage cars, siguradong malaki ang damage ng mababangga or babangga sa inyo