MV Insurance, to make it more beneficial

[Noel Salisipan]

gnun ba sir...swerte ko pala kung halimbawa kinuha ko yung comprehensive from bdo at macarnap sasakyan ko...biruin mo, 1year ko ng ginamit,di pa nagdepreciate tapos tumubo pa ng almost 55k from the original SRP....hehehe

May mga case ding ganyan akong narinig, pag ayaw na yung car bago mag-expire ang insurance ay either ipa-carnap, ibangga o kung ano-ano na pwedeng mapalitan yung car.

Pero syempre risky yan at saka garapalan na kung ganun ang motibo, katakot din.



Alam ko lang dito sa amin, wala pang isang taon yung car, na-idlip daw yung may ari, bumangga sa poste, pumutok ang air bags, bangas ang harap ng sasakyan, buhay naman yung may ari...

After few months, may bago na namang Sta. Fe!
(di ko na alam ang ibang detalye)

[Photoaddict]

Actually, hindi din kasi natin alam when will we need the insurance. Hindi kasi natin maaasahan, since kahit gaano tayo kaingat, there are sometimes na yun ibang tao ang tatama sa auto natin. with regards dun sa pagtaas ng price ng insurance, theoretically hindi naman po tumataas yun price na binabayaran natin sa insurance. Dahil ito sa depreciation of usually 10% that insurance company compute.

Ang rates lang po ang tumataas. Usually ito yun ginagamit natin to compute for the premium that we should pay. If bibihira naman tayo mag claim, over the years nagkakaroon tayo ng discount sa rate (subject for approval). But on the other hand, na marami tayo claims sa insurance natin, paminsan tumataas din yun rate. pero hindi natin gaano pansin, because of the depreciation.

you may want to try my quotation. no commitment naman. just send me a pm, and i'll send you back some details that we need.

or you may text me at 0915-888.8870 thanks!

[_Qwerty_]

majority of the Insurance Providers here sa atin uses ::Welcome to IMSI they will input the year, make and model of the car and it will give the FMV of the vehicle... so it's either mali yung na enter na year or mali yung car model na na enter nung taga BDO.. ask them to double check and ask them if they are using IMSI or kung ano gamit nila to give the FMV of the car.

ganun ba...sabi ko palagay ko may mali sa naiquote sa kin e pero yun ang pinipilit nung sa BDO..baka dapat yung manager ang kausapin ko..sabi kasi yun talaga ang insured amount nila..di na raw nila ibinababa..syempre lugi talaga tayo kasi pag nawala o nabaha nman yung sasdakyan e di nman yata binabayaran ng kung magkano ang naka-insured kundi fair market value lang nman..etong offer sa kin, di na nagdepreciate yung sasakyan, tumubo pa..

[Noel Salisipan]

Actually, hindi din kasi natin alam when will we need the insurance. Hindi kasi natin maaasahan, since kahit gaano tayo kaingat, there are sometimes na yun ibang tao ang tatama sa auto natin...

Wala naman ganun kalaking problema kung walang physical injury pag sila ang bumangga, ganun pa man sila ang mananagot sa gastusin.

Pwera na lang kung "hit & run", shoulder mo yung gastusin at dito na papasok ang insurance.

Ilang taon ba ang comprehensive? kasi yung lumang car ko na 20years na e TPL na lang ang insurance.

[mark_t]

a) As I understand there is no discounts in insurance, discounts don't work or is offered absolutely. It just
does not work that way. Pricing is based on tariff or rates.

b) 25 year old cars can still be insured. Kung hindi naman mukhang tansan na, insurable pa rin yan.

c) IMHO hindi naman tumatas ang rates, mayroon lang siguro na mga underwriters na umiiwas sa mga
customer na rate sensitive total naman palipat lipat ito so mas maganda na tanggalin sa portfolio mo para mas
maayos ang data. Ang important na data sa isang underwriter ay yon mga customer na sigurado ka na user ng
insurance services , secondary lang yon claims experience kasi sa car insurance ay talagang mag ka ka claim yan
moving target ika nga. And yon mga maraming claims experience ay usually rate sensitive so price is not an issue
for a few hundred pesos.

the underwriter would be responsible for the survival of the co. to a certain point of view,
pag nagkamali siya, syiempre wala na siyang trabaho.

d) The rates starts at 2.25% of the value if brand new and as high as 5% for old vehicles.
It used to be 4% to 5% for all motor vehicles for those who can remember so very competitive ngayon.
24.7% of your premium is tax, so the take of your insurer is even smaller.

So for a 1,000,000php car, you pay around 25,000php for a service that will pay you back 1,000,000 if totaled,
Is it not fair enough?

[mark_t]

(correction)

a) As I understand there is no discounts in insurance, discounts don't work or is offered, absolutely walang mga
discounts, nambobola lang siguro ewan ko lang. It just does not work that way. Pricing is based on tariff or rates.
Dati puedeng gawin ng agent na gumamit ng Visaya na address para mura, kasi mura rates doon.
Mababa chances ng carnapping doon dahil magkaka kilala. 3 bundok na tinawid mo kilala ka pa rin.
Puro national highway, walang matataguan. Hindi katulad dito sa manila na ipasok lang car mo sa warehouse
sa caloocan, paglabas turnilyo na lang.

b) 25 year old cars can still be insured. Kung hindi naman mukhang tansan na, insurable pa rin yan.

c) IMHO hindi naman tumatas ang rates, mayroon lang siguro na mga underwriters na umiiwas sa mga
customer na rate sensitive tutal naman palipat lipat ito so mas maganda na tanggalin sa portfolio mo para mas
maayos ang data. Ang important na data sa isang underwriter ay yon mga customer na sigurado ka na user ng
insurance services , secondary lang yon claims experience kasi sa car insurance ay talagang mag ka ka claim yan
moving target ika nga. And yon mga maraming claims experience ay usually hindi rate sensitive so price is not an issue
for a few hundred pesos.

the underwriter would be responsible for the survival of the co. to a certain point of view,
pag nagkamali siya, syiempre wala na siyang trabaho.

d) The rates starts at 2.25% of the value if brand new and as high as 5% for old vehicles.
It used to be 4% to 5% for all motor vehicles for those who can remember so very competitive ngayon.
24.7% of your premium is tax, so the take of your insurer is even smaller.

So for a 1,000,000php car, you pay around 25,000php for a service that will pay you back 1,000,000 if totaled,
Is it not fair enough?

The only way in my opinion, to make it more beneficial is to keep it "in force"

Ito talaga ang paulit ulit na nangyayari, kung kailan luma na car mo, saka naman binabangga o makabangga.
At madalas ng mga taong hindi gumagamit ng insurance. 'Buhay' ika nga.

[Noel Salisipan]

(correction)

a) As I understand there is no discounts in insurance, discounts don't work or is offered, absolutely walang mga
discounts, nambobola lang siguro ewan ko lang. It just does not work that way...

Legality ganyan talaga, pero kailan lang kausap ko yung contacts ko sa insurance (manager ng BDO). Sabi niya siya na daw kakausap sa insurance at ng "mapababaan" pa yung renewal ng insurance ko.

Hopefully, di man discount ang term na ginamit ay may chance na ma-lower yung amount na binigay sa akin ng insurance through letter.

At pagkaka-alam ko rin, sister company ng BDO yung insurance nang car ko.

[mark_t]

Legality ganyan talaga, pero kailan lang kausap ko yung contacts ko sa insurance (manager ng BDO). Sabi niya siya na daw kakausap sa insurance at ng "mapababaan" pa yung renewal ng insurance ko.

Hopefully, di man discount ang term na ginamit ay may chance na ma-lower yung amount na binigay sa akin ng insurance through letter.

At pagkaka-alam ko rin, sister company ng BDO yung insurance nang car ko.

BDO is a broker, ahente rin sila. Kahit branch manager pa siya, whatever he can offer any agent can offer.
That is just the way it is. Kahit malaki pa volume ng business nila parati na may mas malaki sa kanila.

Ang maganda lang nakikita ko ay mas madali mang loko at magpa asa pag nasa loob ka ng bank.

[mark_t]

Bakit hindi pa ibigay sa iyo yon mababa na sinasabi nila ng walang element ng hope?
Itaga mo sa bato! walang discount or whatever na tawag pa doon napa lower premium kahit may letter pa.
Kahit 10 letter pa.

Ang tawag dito dati, unethical kasi nagpapa asa.

Ang siste ay since ginawa na nila lahat ng paraan kuno ay nakakahiya naman na hindi ka pa sa kanila kumuha.
Pero sila lang may gawa gawa ng letter kuno. Saan naman pupunta yon letter na iyon, sa table ng Insurance Commisioner?

At ano naman ang reply? Syiempre wala kasi naka publish na nga rate eh ayaw pa sumunod.
Kahit kapatid mo pa underwriter hindi pa rin puede.

In Insurance, what anyone can offer. Everyone can match.

[mark_t]

1. Make sure you have insurable interest. Vehicle is in your name.
2. Buy your CTPL from a Coded Agent/Broker.
3. Keep the policy in force.

4. Have your vehicle inspected to prevent misunderstandings.
5. Never have any unauthorized repairs.
6. Have a servicing agent for your policy. Kasama sa bayad yon.