Comprehensive insurance...Is it really worth it?

[leolop]

i have 5 year old kia carnival. when i bought it second hand, i had it insured and paid about PHP14,000. i recently had a fender bender with a jeepney (who denied it was his fault) and i paid P3000 participation to have the bumper fixed and repainted. if i were to have the bumper replaced, i'd have to pay half of the value of the new bumper because of the age of my car. in fairness to the insurance company, they fulfilled their contractual obligation.

insurance is a lot like gambling and it really pays off only when there's a great catastrophe like the vehicle is totalled or stolen, plus at least you have peace of mind in case something does happen. i've been driving for more than 15 years and have been in accidents 6 times, all of them resulting in damage that could be repaired for less than P5,000. it was only this past year that i've been driving a comprehensively insured vehicle.

well, my insurance broker is calling since my insurance has expired and i'm not sure whether it's worth it to renew. wanted to hear from other tsikoteers about their own experiences. is it really worth it? tia!

[CVT]

IMHO, I think it is worth it. You can never tell what can happen and you'll definitely need insurance para walang hassle sa paghahabol.... Yes, I agree, it is a gamble sort of...

[j_avonni]

It's worth it. My car is only less than 2 years old. It is under loan payable in 5 years. I need this protection in case of carnap and serious accidents to ensure that I could pay the financing company. But upon full payment after the 5th year, I may not insure it anymore.

[leolop]

It's worth it. My car is only less than 2 years old. It is under loan payable in 5 years. I need this protection in case of carnap and serious accidents to ensure that I could pay the financing company. But upon full payment after the 5th year, I may not insure it anymore.

but isn't that because the financing company actually requires it therefore it's part of your obligation to have it insured?

our situations become the same when you're fully paid. what are your reasons not to insure after the fifth year? thanks!

[johnart]

Its worth it when you suddenly need it. Our driver accidentally damaged a hood of an accord while backing up. Out driver was driving the crv, the spare tire hit the hood. The damage was very small but the area were it was located was on the double hull of the hood. So no choice the hood needed to be replaced. If we had it masilya the heat of the sun ang the heat of the radiator would cause the paint to crack in a few months time. Cost of the repairs P15k. Very worth having an insurance.

[theveed]

Worth it ang compre, with so much expensive cars around, you wouldn't want to shoulder the repair bills dude.

[j_avonni]

but isn't that because the financing company actually requires it therefore it's part of your obligation to have it insured?

our situations become the same when you're fully paid. what are your reasons not to insure after the fifth year? thanks!

My current financing is not strict about the insurance because they aren't requiring me to submit the insurance policy to them. Unlike my previous financing, they always reminded me to submit the policy to them every renewal, otherwise, they would be the one to get the insurance chargeable to me.

My reason for not insuring it, maybe, after the 5th is, obviously, to save on premium.

[1D4LV]

its worth it because try to imagine the costs of repairing your car, the other parties car in case of accident and other people that may be involved in any accident. imagine how much it would cost if if that amount would come from your pocket..

[topgun]

hindi ba pwede after ka maaksidente assuming walang other party involved tsaka ka lang kumuha ng comprehensive insurance then

kung covered ka na after one week have it repaired charge to insurance pwede di ba?? hmmm evil minds

[bardigones]

Yes. It is worth it. For me, at least.

[baiskee]

IMHO, I think it is worth it. You can never tell what can happen and you'll definitely need insurance para walang hassle sa paghahabol.... Yes, I agree, it is a gamble sort of...

yep. di mo talaga masasabi. lalo na dito sa atin, kahit anong ingat mo....yung mga ibang kasabayan mo naman eh walang pakialam.

[papi smith]

Magkakaalaman yan pag nag file ka ng claim.

[reiman13]

I always get my car insurance from Moneymax.ph, ok naman. Laging may payment reminder, then after ma full payment they will send you the OR.
Once lang ako kumuha from iChoose, TPL lang to renew car registration.

[ice15]

Once lang ako kumuha from iChoose, TPL lang to renew car registration.

mas mura ba TPL nila?

[sean-archer]

Question, if Yung nakabangga sayo ay walang insurance, and you have yours. Papayag ka ba na ipagamit mo ang insurance mo to fix your own vehicle?

Is there any repercussion? Ano disadvantage?

[shadow]

Question, if Yung nakabangga sayo ay walang insurance, and you have yours. Papayag ka ba na ipagamit mo ang insurance mo to fix your own vehicle?

Is there any repercussion? Ano disadvantage?

Mas lalo na dapat gamitin mo insurance mo. Either baka insures siya or hinde. I’ll claim sa insurance ko.


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[ice15]

IMO, dito naman sa Pinas, I don't think nagcheck insurance companies ng history ng car before providing an insurance.

so kahit may bangga ka everyday... di tataas premium ng insurance.

[Tha_Mann]

Question, if Yung nakabangga sayo ay walang insurance, and you have yours. Papayag ka ba na ipagamit mo ang insurance mo to fix your own vehicle?

Is there any repercussion? Ano disadvantage?

yup gamitin mo insurance mo, bahala na yung insurance na maningil duon sa naka bangga sayo. wag ka din hihingi ng money sa naka bangga like yung participation fee, kasi once na ginawa mo yun parang may kasunduan na kayo na wala na sya liabilities sayo at mahirapan ang insurance na pag bayarin o kasuhan sya.

[dr. d]

Question, if Yung nakabangga sayo ay walang insurance, and you have yours. Papayag ka ba na ipagamit mo ang insurance mo to fix your own vehicle?

Is there any repercussion? Ano disadvantage?

i'll report my mishap to my insurance provider. after all, they are supposed to bear the brunt of the repair cost.
bahala na sila makipag-usap sa repair shop at sa naka-bangga ko.
"it'll save me from potential headaches."

warning: do not acept any form of payment, goodwill, monies, or any "areglo" at all, from the other party.
it might be mis-construed as settlement, and prevent you from enjoying full benefits from your insurance provider.

[ice15]

Question, if Yung nakabangga sayo ay walang insurance, and you have yours. Papayag ka ba na ipagamit mo ang insurance mo to fix your own vehicle?

Is there any repercussion? Ano disadvantage?

someone will have to pay the premium...

kung ayaw nya magbayad. yun magiging start ng problems mo.

nabangga ako last year ng motorcycle sa C5. kahit ibenta ko motor nya, kulang pa pambayad sa premium ng insurance ko. in the end, ako na nagbayad ng premium para lang matapos na car ko. basta usapan namin nung nakabangga sa akin... di sya maghahabol sa akin and sya na bahala magpagamot sa sarili nya (signed affidavits sa harap ng police)