Insurance Coverage

[b0y37]

Im getting insurance coverage for my to-be-acquired car unit. I paid for it in cash.

List Price = 1.43M
Discounted/Actual Price = 1.275M

Ano yung ilalagay ko na amount sa Insurance? 1.43M or 1.275M?

Dealer SA/in-house insurance told me na 1.275M ang coverage since eto yung actual acquisition price.
The other, a bank manager I requested quote from, told me na dapat 1.43M ang coverage.

Which is which?

Thanks.

[fleas2016]

You decide how much coverage you want. You'll have to pay the premium accordingly.

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[SidCoronel]

Im getting insurance coverage for my to-be-acquired car unit. I paid for it in cash.

List Price = 1.43M
Discounted/Actual Price = 1.275M

Ano yung ilalagay ko na amount sa Insurance? 1.43M or 1.275M?

Dealer SA/in-house insurance told me na 1.275M ang coverage since eto yung actual acquisition price.
The other, a bank manager I requested quote from, told me na dapat 1.43M ang coverage.

Which is which?

Thanks.

The amount you declare drives the insurance coverage cost, the higher you declare the higher your insurance cost.

If this car is paid in cash, better declare the highest price. This is the cost the insurance will cover when you lose this car.

Why pay a high premium if this is mortgaged? If this is mortgaged and you lose the car, the bank gets the insurance payout.

Also, dont get an insurance from a bank, it's expensive than going straight to the insurance company

[dr. d]

Im getting insurance coverage for my to-be-acquired car unit. I paid for it in cash.

List Price = 1.43M
Discounted/Actual Price = 1.275M

Ano yung ilalagay ko na amount sa Insurance? 1.43M or 1.275M?

Dealer SA/in-house insurance told me na 1.275M ang coverage since eto yung actual acquisition price.
The other, a bank manager I requested quote from, told me na dapat 1.43M ang coverage.

Which is which?

Thanks.

you paid in cash?
quote list price to the insurer.
pag nasalanta, you get higher money from the insurance.
i do not think the slightly higher insurance premium is a bother for you.

[fleas2016]

you paid in cash?
quote list price to the insurer.
pag nasalanta, you get higher money from the insurance.
i do not think the slightly higher insurance premium is a bother for you.

This. +1

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