Claims and ownership Inquiry (Legal)

[blazinthrower]

To all members, my greetings. Newbie here... just want to ask...

Case Scenario:
1. It's a "company car plan" type of ride (model year 2006).
2. It got into an accident this year na medyo malaki damage (front) , and after the procedures( police reports, etc. ), we had it stored in a warehouse.
3. The insurance appraiser inspected the unit for claims.
4. The long wait begins... waiting for the check to be released. (Kulang sign ni ganito, kulang sign ni ganyan)
5. After 6 months or so, we were informed that the check is ready and had it forwarded to the company(co-owner) for equity deductions.
6. Now the question po, are WE(our party) still the owner of the car? Can we have it fixed or sold as-is, or is the insurance company now owns the unit? They are not claiming it for some time now and we are still shouldering the cost of storage.

It's not mobile and needed towing to get it moved. Baka kasi if we had it fixed or sold the unit, we could be charged po (criminal or otherwise). We couldn't ask the people from the insurance to get it, baka sa amin pa pala yung unit and hindi naman pala finorward sa employer nila, then sila na lang nagbenta.

Thank you in advance.

[Altis6453]

Your best bet is to read the insurance policy covering the vehicle. If this is a company car, by experience, its covered under the comprehensive property insurance policy of your company.

AFAIK, the more reputable insurers (i.e. Pioneer, Malayan, Insular, etc.) don't require the turnover of the damaged unit anymore. If that's the case, you can have the vehicle removed from storage already and sell the carcass.

[1D4LV]

may kilala ako na same case as yours.
the car itself is still the property of the company. so the proceeds of the insurance will go to the company.

but it would all depend on each company policy.