Insurance for old cars?

[ninjababez]

Pwede pa po Sir, nag accept pa din po si Mapfre ng 1997 model. Kaka paissue ko nga lang po ng policy for a 1996 Honda City. Kailangan lang po ng pictures ng 4 sides ng vehicle.

pano pag gusto ko walang depreciation? OK lang maski mas malaki premium, ayaw ko lang yung headache na sobrang laki ng participation fee dahil sa depreciation

thanks!

[Paydraw]

I was informed by mapfre that my corolla 1997 is no longer covered for insurance. Only for 3rd party is available. Ganito din ba sa ibang insurance company?

Sir still looking for insurance for your car?
We can insure until 23 yrs old ung car.
Just give me the details of your car.

Thankx

[Em Lynx]

Sir still looking for insurance for your car?
We can insure until 23 yrs old ung car.
Just give me the details of your car.

Thankx

Ano pong insurance yan? I'm looking for a car insurance for my Toyota Altis 2004.

[Sayonara]

Hi guys, just want to know your experience on getting a comprehensive insurance for an old car.

Is there an insurance insurance company that still provides a 23 year old vehicle a comprehensive insurance? A Corolla to be specific.

Tried to talk to insurance agents already, but so far the replies are the same - won't accept a 23 year old vehicle

Thank you to those who can shed some knowledge on this for me.


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[17Sphynx17]

Hi guys, just want to know your experience on getting a comprehensive insurance for an old car.

Is there an insurance insurance company that still provides a 23 year old vehicle a comprehensive insurance? A Corolla to be specific.

Tried to talk to insurance agents already, but so far the replies are the same - won't accept a 23 year old vehicle

Thank you to those who can shed some knowledge on this for me.


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Per my experience lang ito so it can just be anecdotal or dahil di ko lang naencounter alternatives but here goes.

1) If may "break" yung bayad ng insurance mo (i.e first 5 years insured, 6th year di mo pinainsure then gusto mo 7th year maginsurance ulit as an example) mahirap or hindi ka makakakuha basta basta kasi walang guarantee yung insurance company about the vehicle na since may period ka na hindi insured. Di nila alam if may nangyari in that period while it wasn't insured and ngayon gusto mo pakargo sa kanila via whatever. I don't think willing sila inspect yun given the depreciated value of the car, unless we are talking about highly valued cars like supercars, sports cars (iba usapan dun since they can hold value unlike regular vehicles).

2) Assuming meron nga kumagat for said vehicle, what's the insured value? less than 200k na right? Baka less than 100k na nila declare yan since it is a 23 year old vehicle... What are you expecting to pay in insurance premiums then? And given na less than 100k ang insured value, any damage or coverage you want to claim that is even slightly significant, pwede na declare as total loss yung vehicle dahil nga sa % of the insured value the company covers.

So, I am not sure what the purpose then of the compre insurance for a 23 year old vehicle is, unless it is a "classic car", sports car or a vehicle that has retained or can increase in market value over time. TPL lang kunin mo diyan kasi that's what you can get that is practical and required legally to register. other than that, there is no point to get compre for such an old vehicle dahil wala din naman towing assistance or anything that I can see that would be of any equitable value for what could be a high premium relative to the value of the vehicle.

[KatsuraKotaro]

help a noob please. anybody tried online CTPL offered by Mapfre? para makabawas sana ng time on renewing my registration.

thanks in advance masters!

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[Sayonara]

Per my experience lang ito so it can just be anecdotal or dahil di ko lang naencounter alternatives but here goes.

1) If may "break" yung bayad ng insurance mo (i.e first 5 years insured, 6th year di mo pinainsure then gusto mo 7th year maginsurance ulit as an example) mahirap or hindi ka makakakuha basta basta kasi walang guarantee yung insurance company about the vehicle na since may period ka na hindi insured. Di nila alam if may nangyari in that period while it wasn't insured and ngayon gusto mo pakargo sa kanila via whatever. I don't think willing sila inspect yun given the depreciated value of the car, unless we are talking about highly valued cars like supercars, sports cars (iba usapan dun since they can hold value unlike regular vehicles).

2) Assuming meron nga kumagat for said vehicle, what's the insured value? less than 200k na right? Baka less than 100k na nila declare yan since it is a 23 year old vehicle... What are you expecting to pay in insurance premiums then? And given na less than 100k ang insured value, any damage or coverage you want to claim that is even slightly significant, pwede na declare as total loss yung vehicle dahil nga sa % of the insured value the company covers.

So, I am not sure what the purpose then of the compre insurance for a 23 year old vehicle is, unless it is a "classic car", sports car or a vehicle that has retained or can increase in market value over time. TPL lang kunin mo diyan kasi that's what you can get that is practical and required legally to register. other than that, there is no point to get compre for such an old vehicle dahil wala din naman towing assistance or anything that I can see that would be of any equitable value for what could be a high premium relative to the value of the vehicle.

Thank you for the response Mr. Sphynx

I guess it will be hard to get one based on your response since this is already a second hand vehicle. I don't think the previous owner had a comprehensive insurance for a long time.

For my reason on acquiring one, just want to have a peace of mind if ever I get involved in an accident.


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[travajante]

Thank you for the response Mr. Sphynx

I guess it will be hard to get one based on your response since this is already a second hand vehicle. I don't think the previous owner had a comprehensive insurance for a long time.

For my reason on acquiring one, just want to have a peace of mind if ever I get involved in an accident.


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For a pre-classic old car, I'd be more concerned of 3rd party liability & would add coverage on top of the 100k CTPL. Excess Bodily Injury & 3rd party property damage of at least P300k each won't be much premium-wise. The road rootcrop population is on an unstoppable uptrend. Protect yourself from them...Mind peace.

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[17Sphynx17]

Thank you for the response Mr. Sphynx

I guess it will be hard to get one based on your response since this is already a second hand vehicle. I don't think the previous owner had a comprehensive insurance for a long time.

For my reason on acquiring one, just want to have a peace of mind if ever I get involved in an accident.


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As I mentioned in my reply/comment, that is what I know and have experienced personally.

But the best one to answer is an insurance agent who specializes in car insurance. They will know the requirements and what you can really expect (realistically) from your insurance should something be made available as an option for you.

Good luck.

If the vehicle is in good working order, I really don't know if a comprehensive insurance would give you any peace of mind. I personally don't think they can even provide good enough coverage for body repairs should there be a need for a claim without you shelling a bulk of the repairs already and the participation fee being quite "high" to start with.

For personally driven vehicles, we stop availing of compre insurance once it reaches 10 years of age, unless we are talking about annual payments are quite minimal.

Our City I-dsi from 2008 still has it with no more AoG coverage, insured value of 200k. Annual premium of 8k for this year. It wasn't "exhorbitant" so we decided to continue with this vehicle. But for other vehicles, we just stopped it after 10th year for our "normal" practice.

[dr. d]

Per my experience lang ito so it can just be anecdotal or dahil di ko lang naencounter alternatives but here goes.

1) If may "break" yung bayad ng insurance mo (i.e first 5 years insured, 6th year di mo pinainsure then gusto mo 7th year maginsurance ulit as an example) mahirap or hindi ka makakakuha basta basta kasi walang guarantee yung insurance company about the vehicle na since may period ka na hindi insured. Di nila alam if may nangyari in that period while it wasn't insured and ngayon gusto mo pakargo sa kanila via whatever. I don't think willing sila inspect yun given the depreciated value of the car, unless we are talking about highly valued cars like supercars, sports cars (iba usapan dun since they can hold value unlike regular vehicles).

2) Assuming meron nga kumagat for said vehicle, what's the insured value? less than 200k na right? Baka less than 100k na nila declare yan since it is a 23 year old vehicle... What are you expecting to pay in insurance premiums then? And given na less than 100k ang insured value, any damage or coverage you want to claim that is even slightly significant, pwede na declare as total loss yung vehicle dahil nga sa % of the insured value the company covers.

So, I am not sure what the purpose then of the compre insurance for a 23 year old vehicle is, unless it is a "classic car", sports car or a vehicle that has retained or can increase in market value over time. TPL lang kunin mo diyan kasi that's what you can get that is practical and required legally to register. other than that, there is no point to get compre for such an old vehicle dahil wala din naman towing assistance or anything that I can see that would be of any equitable value for what could be a high premium relative to the value of the vehicle.

actually,
my concern is not so much for my 2003 corolla.
my major concern is for the other party. his car and/or his health.
... papano ba ito?