Insurance Claim - Repair or Total loss

[vefyjeph]

After waiting for more than 1 month for Honda's estimate sa repair nung car ko, the repair cost was a whooping PhP 580,000 +. Ok pa daw yung makina...

Yung accident, nabangga ako sa likod when I was about to turn right papasok ng gate namin. Ayun sa lakas ng impact, nagmove forward pa yung car, hitting the concrete wall ng bakod namin. May canal na nahulugan pero umakyat pa rin car. So ang most damage is sa likod and sa harap.

When I talked to my insurance agent, usually daw kung nasira makina i-declare na nila ng total loss. As for this case, ayos pa makina pero ang repair cost is around 580,000! As per service agent naman ng Honda, usually daw kung umabot ng 70% ng total cost ang repair versus ng insured value ng car, pwede mapasok din sa total loss. Pero mukhang di daw umabot. Sayang naman!

Pwede pa kaya mapasok ito sa total loss instead of repair? Wala ako hawak ngayon copy ng insurance contract kasi nasa province yung document. Meron ba sa inyo may experience na sa pag claim sa insurance ng ganito case? My insurance is Fortune General.

May car is Honda Civic FD 1.8S MT Nov 2011. So more than a year lang. I think yung amount declared sa insurance is around 830,000-850,000.

[vefyjeph]

Kung 75% pala ng insured amount ang cost of repair, pwede total loss na as per Insurance code of the Philippines. Di pa umabot...

As latest update ng CASA, 602,000 na ang estimate for the repair. Insured amount is 835,000. So 72% lang. Kulang ng 25,000 or 3%.

Kung irerepair lang ito, malamang matatagalan considering challenged ngayon ang Honda parts due to the calamities sa Japan and Thailand.