Unacceptable Offer from Insurance

[richardmonde]

Hi Sirs,

Hingi ako payo sa inyo...

Naaksidente un car ko at ako ang victim party sa accident, third party. Dahil sa severe damages ng car ko, un insurance ng nakabangga sa akin declared total loss for my car and nag offer ng very low amount ng cash settlement or restore un unit using their prefer shop.

My question:
1. Any advice kung paano ko idedemanda ang insurance company?
2. Paano ko ma-insist un fair offer sa insurance since ako binangga? Gusto ko sa casa ipagawa para sure pa rin ang condition ng sasakyan ko.

any input is a great help. thanks.

richard

[Balikpinoy]

Hi Sirs,

Hingi ako payo sa inyo...

Naaksidente un car ko at ako ang victim party sa accident, third party. Dahil sa severe damages ng car ko, un insurance ng nakabangga sa akin declared total loss for my car and nag offer ng very low amount ng cash settlement or restore un unit using their prefer shop.

My question:
1. Any advice kung paano ko idedemanda ang insurance company?
2. Paano ko ma-insist un fair offer sa insurance since ako binangga? Gusto ko sa casa ipagawa para sure pa rin ang condition ng sasakyan ko.

any input is a great help. thanks.

richard

What's the difference in their offer and current market value ng car mo? Look for similar crs for sale and show that your car should be comparable value to that posted for sale one.

[Lew_Alcindor]

Anu ibig ng "total loss" sa insurance? Repair lang katapat nito?

Isa pa, bakit yung insurance ng nakabangga ang idedemanda mo? Bakit hindi yung nakabangga? Yung nakabangga ang kausapin mo tapos siya na dapat bahal sa insurance niya.

[vinj]

1. What is your car? (year model, mileage and condition prior to the accident)
2. What is the value of your car with your own insurance and on the second hand market?
3. How much is the insurance company of the other party offering you?
4. How severe is the damage? (engine, chassis or suspension is badly affected?)

[[archie]]

You can't expect a market value offer from the insurance company. More or less salvage value plus a little more.

If you can't accept the offer and rather have it repaired, cash settlement is the answer. On the other hand, pwede mo hiritan yung nakabangga sayo na siya na lang personally magdagdag ng money to satisfy the value. Medyo magulo yan since mahirap yung situation na walang control. Pwede mo naman Dalin to court if it does not satisfy the compensation cost.

[glenn manikis]

file a criminal case against the driver sir...

reckless imprudence resulting to damage to property is criminal in nature....

Civil aspect lang yung damage to property na sagot ng insurance.

maybe that way, ma compel mo driver to tell his insurance to pay the right amount...

[shadow]

unacceptable is relative...ano year, made and model ng car mo, damages ng kotse mo...then how much offer ng insurance for total loss...para malaman namin kung totoong unacceptable yun offer...

we will never know kung low ball ka nga...

[ghosthunter]

Hi Sirs,

Hingi ako payo sa inyo...

Naaksidente un car ko at ako ang victim party sa accident, third party. Dahil sa severe damages ng car ko, un insurance ng nakabangga sa akin declared total loss for my car and nag offer ng very low amount ng cash settlement or restore un unit using their prefer shop.

My question:
1. Any advice kung paano ko idedemanda ang insurance company?
2. Paano ko ma-insist un fair offer sa insurance since ako binangga? Gusto ko sa casa ipagawa para sure pa rin ang condition ng sasakyan ko.

any input is a great help. thanks.

richard

The total-loss claim value should be based on the book value of the car. So what is your car/model and what year was it bought?

What is the offered value by the insurance? ... anyway, you can negotiate with them and demand the fair market value be offered to you.

[shadow]

both you and the insurance company can meet halfway....I'm sure what you think is your car's worth is overprice while the insurance company is offering you is below fair market value...so meet halfway...

[xwangbu]

di ba pwedeng gamitin yung insured value sa insurance ni TS
para gawing basis nung value nung unit?

[Battlestar]

di ba pwedeng gamitin yung insured value sa insurance ni TS
para gawing basis nung value nung unit?

Ganun nga yata sir ang habol ni TS. Ang nangyare kase 3rd party insurance ang magbibigay sa kanyan ng cash settlement and not his insurance.

Let's say yung fair maket value ng car ni TS is Php 400k based on his insurance. Then yung 3rd party insurance naman ay Php300k lang ang inoffer. Lugi talaga si TS dun. Pero mas maganda kung linawin muna ni TS kung ano ba model ng kotse nya at magkano ang offer 3rd party insurance.

[basucat]

Ganun nga yata sir ang habol ni TS. Ang nangyare kase 3rd party insurance ang magbibigay sa kanyan ng cash settlement and not his insurance.

Let's say yung fair maket value ng car ni TS is Php 400k based on his insurance. Then yung 3rd party insurance naman ay Php300k lang ang inoffer. Lugi talaga si TS dun. Pero mas maganda kung linawin muna ni TS kung ano ba model ng kotse nya at magkano ang offer 3rd party insurance.

Si TS can demand for a higher compensation provided na yun talaga ang fair market value ng car. Susubukan syang baratin ng insurance company. However, if ang VTPL - Property Damage cover ng 3rd party (TP) is up to 300T only, hanggang duon lang ang kayang bayaran ng insurer. Anything more than that will have to be paid by the 3rd Party vehicle owner. Suggest that you write the TP Insurer that you are demanding xxx amount since the amount they offered is too low. If they do not respond, get a lawyer to make the demand for you. Ask the lawyer to write the TP owner too since if you pressure them, they will pressure their insurer to settle the claim.

[ghosthunter]

di ba pwedeng gamitin yung insured value sa insurance ni TS
para gawing basis nung value nung unit?

Insurance companies have a "book value" for the car... they will offer a lower amount to save on "costs". It is a business.

[vefyjeph]

Insurance companies have a "book value" for the car... they will offer a lower amount to save on "costs". It is a business.

this is true. Nung matotal loss dati yung car ko, yung binigay sa akin is less 50k sa insured amount. Pero within the average pa ng selling price nung car sa second hand market kaya tinanggap ko na. Then nung sinisingil nila yung nakadisgrasya sa akin, plus 50k nung insured amount. so lumalabas kumita pa sila 100k. hahaha. Then nag-auction pa sila nung car na yun. another kita pa nila. so Business talaga insurance.

Sa mga panahong ito nagagamit ang insurance agent/broker mo. Tutulungan ka makikipagkulitan. Pero kung wala ka broker, mahirap na.

[mark_t]

Do you have your own insurance policy? Use it.

[richardmonde]

Mga Sirs,

Salamat sa mga advices nyo...pasensya na masyado ako naging busy these past week sa work at hindi agad nakareply agad sa inyo.

Anyway, I settled sa repair cost offer ng insurance sa akin..i just need to top up few thousands pesos para marestore un car ko.

Thanks again to all.

Hi Sirs,

Hingi ako payo sa inyo...

Naaksidente un car ko at ako ang victim party sa accident, third party. Dahil sa severe damages ng car ko, un insurance ng nakabangga sa akin declared total loss for my car and nag offer ng very low amount ng cash settlement or restore un unit using their prefer shop.

My question:
1. Any advice kung paano ko idedemanda ang insurance company?
2. Paano ko ma-insist un fair offer sa insurance since ako binangga? Gusto ko sa casa ipagawa para sure pa rin ang condition ng sasakyan ko.

any input is a great help. thanks.

richard