Depreciation Value

[Dranrev]

I had an accident then I called my insurance and provide the documents required for assessment. After 1 week they told me that the total cost for repair is around 30k and less Depreciation Value and it ended 25k. My participation is around 7k. I already have the LOA for the accredited shop and they are telling me that I need to also pay the depreciation value, My total cash out will be 12k. My question is do I really need to pay the depreciation value because what I thought is for any accident my max cash out will only be the participation pay in the contract. I appreciate any response on this. Thanks and God Bless.

[tidus1203]

What depreciation? Depreciation is irrelevant to claiming insurance as long as your insurance is CURRENTAND OUTSANDING. Every time you renew your insurance depreciation of the car makes your premium LOWER NOT HIGHER! So you only need to pay the participation fee that was agreed by you and the insurer...

[Dranrev]

Ang sabi po kasi sa akin everytime na may kailangan palitan na parts 30% daw shoulder ko aside from my participation dahil daw more than 5 years na sasakyan ko.

[_Qwerty_]

niloloko ka nang insurance mo.. all you have to pay is the participation.. wala dapat depreciation ek ek yan..

[mark_t]

niloloko ka nang insurance mo.. all you have to pay is the participation.. wala dapat depreciation ek ek yan..

Sir, tanong lang po. puede po ba makita copy ng policy contract po ninyo?
Hindi pa kasi ako nakakita ng walang depreciation na policy contract.
Normally hangang 3 years lang walang depreciation ang nakikita ko.
Thanks in advance.

[[archie]]

tama... kung more than 3 years na yung oto, depreciation cost na kung may parts na papalitan na brandnew. if you opt for surplus parts then wala na depreciation.

[1D4LV]

niloloko ka nang insurance mo.. all you have to pay is the participation.. wala dapat depreciation ek ek yan..

agree. di computed and depreciation sa insurance. ang cash out mo lang is yung participation.

[Dranrev]

Ang covered lang nung 30 % eh yung parts na papalitan not the total charge ng repair that would include the parts. Tama ba ako. ?

[tidus1203]

My bad meron pala kasi when I always claim for insurance there was no such thing... Kasi sa cases ko puro lang naman banga and scrapes yung akin and never for repairs...

[_Qwerty_]

ahh ok.. so after 3 yrs.. bayad ka na nang depreciation cost.. standard 30% ba yan?? malaki din pala.. so kung 100T damage.. 30T ang out of pocket mo..

[Dranrev]

Thanks all for the reply. This enlightened me. Btw ang kailangan palitan pala sa akin is front bumper and headlight. Kung brand new ang ipalit not bad na din kung 5k add ko sa participation ko na 7k. God Bless to all.