force mejure or AOG claims?

[loidch]

hi peeps,
i have seen all sorts of newer model cars and also pickup trucks w/c still has to get a license plate go under the water along Banaue St. this morning.
i have been musing on those insurance policies on my free time, and specifically remember that "force mejure" or acts of god does not cover those machines.

to the underwriters,
if i may ask......
1) is there an AOG premium now?
2) when was this introduced, and how many knows about this?
3) how much does it cost to make us covered?
3) what are the criterions so that it falls within the coverage?


example....will my car stilll be covered in a hotel fire, or if it drowns underneath the building in case of water intrusion?

[1997]

Sa Innova namin merong AOG... pero nung time kasi na pinainsured hindi kami very particular sa AOG until now lang... but there is no added premium naman...

[Capt.Bob]

i need to see my insurance form... how do we know if AOG clause is included? is there a check box to be ticked? or is it stipulated as a clause?
further clarification will be highly appreciated

[br733]

I think force majeure / acts of god is not covered in most insurance policies sold here. You have to pay a special premium to be covered. Double check your insurance policy, just in case, you might have coverage.

[jaymd]

most insurance companies include acts of god in their policies siguro mahigpit din kasi competition sa market. check nyo policies nyo and sana wag na pahirapan yun mga magclaim ng damages from the typhoon. baka ma PET plans ulit mga pinoy.

[LeOxe]

i once inquired about "AOG" coverage. the agent said that i have to pay an additional premium since that coverage is on top of the current insurance policy.

[heuer77]

hi peeps,
i have seen all sorts of newer model cars and also pickup trucks w/c still has to get a license plate go under the water along Banaue St. this morning.
i have been musing on those insurance policies on my free time, and specifically remember that "force mejure" or acts of god does not cover those machines.

to the underwriters,
if i may ask......
1) is there an AOG premium now?
2) when was this introduced, and how many knows about this?
3) how much does it cost to make us covered?
3) what are the criterions so that it falls within the coverage?


example....will my car stilll be covered in a hotel fire, or if it drowns underneath the building in case of water intrusion?

To answer you the best of my knowledge:

1/3) Yes! AOG has a premium related to the value of your vehicle. If your car is under a 'PC - Private Car' Category for which sedans and alike has a .5% rate. i.e. 2009 Toyota Corolla Altis J 8000,000 * .5% = 4,000.00. For 'CV - Commercial Vehicle' rate applied is 1%. i.e 2009 Mitsubishi Adventure 820,000 * 1% = 8,200.00.

The said amount will be added onto your original comprehensive insurance + corresponding taxes computed from AOG.

2) This was included from the very first introduction of CAR INSURANCE.
4) Not all are covered or I may say be covered. The underwriter will check first the postal/given address of the unit owner. If the underwriter finds the location is too risky, they will not advise the insurer to include this coverage.

HTH.

[loidch]

* autokraft and huer77
thanks for shedding some light on the issue.

well i guess many policy holders will now be asking about this AOG clause after what happened this weekend. too bad for somebody close to me whos innova and captiva went under.

[_Qwerty_]

i guess hindi na magiging free yang AOG clause after this.. baka itaas pa nila premium nyan.. last 2 years.. nakuha ko lang as free add on yang AOG eh..

[heuer77]

i guess hindi na magiging free yang AOG clause after this.. baka itaas pa nila premium nyan.. last 2 years.. nakuha ko lang as free add on yang AOG eh..

Lucky are those who has this coverage on the car insurance. BPI/MS bancassurance now are flooded with claims.

[shadow]

Lucky are those who has this coverage on the car insurance. BPI/MS bancassurance now are flooded with claims.

nah! hinde naman nila papalitan yun car eh, they will just repair it...

[heuer77]

To answer you the best of my knowledge:

1/3) Yes! AOG has a premium related to the value of your vehicle. If your car is under a 'PC - Private Car' Category for which sedans and alike has a .5% rate. i.e. 2009 Toyota Corolla Altis J 8000,000 * .5% = 4,000.00. For 'CV - Commercial Vehicle' rate applied is 1%. i.e 2009 Mitsubishi Adventure 820,000 * 1% = 8,200.00.

The said amount will be added onto your original comprehensive insurance + corresponding taxes computed from AOG.

2) This was included from the very first introduction of CAR INSURANCE.
4) Not all are covered or I may say be covered. The underwriter will check first the postal/given address of the unit owner. If the underwriter finds the location is too risky, they will not advise the insurer to include this coverage.

HTH.

Addenddum to No. 1.) No. Some insurance companies as 'a come on' to the customers, they included this coverage for FREE. But the truth is, they charged you higher for the OD/TH (PC policies average rate is around 2.3 of your TSI and CV policies average rate is 1.5).

Addendum to No. 2.) Your agent should tell you about this additional coverage aside from the REGULAR COMPREHESIVE COVERAGE. Normally, they do not bother to include this as this will entail you cost (that you tend to turn down coz this will only balloon your premium). Though, these agent will get a 25% commission hehehehe.