Pls Suggest Car Insurance Companies

**bankai** · December 12th, 2006 09:00 PM

malayan insurance . . . . . . .

very worth it. . . . . .

**diesoline** · May 15th, 2007 01:33 PM

resurrecting this thread...

Originally Posted by Bogeyman

I switched to Direct Link. Totoo nga ang sabi nila, ang mura ng premium, kasi diretso ka na sa kanila, no need to worry about agent/broker commissions. They also have a standby 24-hour motorist assistance hotline, at accredited sa kanila yung casa ko. Mabilis pati, 30 mins. kung dadaanan mo sa office nila yung policy, 24 hours if you want it delivered. And I got free PhP1,000 worth of fuel (not much, but better than nothing).

i am a former client of direct link (three years insured with them), and i am shopping around for a new insurance provider. what turned me off was their high participation (10K) which i belatedly discovered when i tried to claim for a damaged sidemirror assembly. though for cost of premium, and convenience of service, they are hard to beat.

Originally Posted by IMm29

Equitable-PCIB (EBC Insurance Brokerage). Fixed ang participation (P2K for car, P3K for van/SUV). Ok naman.

do you have any updates for this IMm29?

other tsikoteers are very much welcome to pipe in. tia, guys!

**MAXBUWAYA** · May 15th, 2007 02:55 PM

Originally Posted by diesoline

resurrecting this thread...

i am a former client of direct link (three years insured with them), and i am shopping around for a new insurance provider. what turned me off was their high participation (10K) which i belatedly discovered when i tried to claim for a damaged sidemirror assembly. though for cost of premium, and convenience of service, they are hard to beat.

do you have any updates for this IMm29?

other tsikoteers are very much welcome to pipe in. tia, guys!

hindi ba according to insurance commision is 1% Fair Marvet Value ng sasakyan ang participation?

Except standard Insurance Which goes for 0.5% of FMV as your parcticipation. This is pretty competitive especially kung madalas ka mag claim hehehehehe

**diesoline** · May 15th, 2007 03:04 PM

ok. that explains it. a little less than 1M na kasi ang FMV ng auto ko na yun.

anyway, i will canvass quotes from prudential, malayan and philcharter and equitable here in baguio.

**devdevlin** · May 16th, 2007 07:20 PM

Originally Posted by diesoline

resurrecting this thread...

i am a former client of direct link (three years insured with them), and i am shopping around for a new insurance provider. what turned me off was their high participation (10K) which i belatedly discovered when i tried to claim for a damaged sidemirror assembly. though for cost of premium, and convenience of service, they are hard to beat.

mtanong ko lang ano yun participation fee? so you mean kailangan mo magbayad ng 10K para makuha mo yun bago sidemirror assembly? bago lang kasi ako kaya hndi ko alam mga bagay na yan.

**Bogeyman** · May 16th, 2007 07:37 PM

Originally Posted by diesoline

i am a former client of direct link (three years insured with them), and i am shopping around for a new insurance provider. what turned me off was their high participation (10K) which i belatedly discovered when i tried to claim for a damaged sidemirror assembly. though for cost of premium, and convenience of service, they are hard to beat.

When I enrolled with them, 7K na lang ang participation fee ko for a private-use AUV. My father-in-law is also a current policy holder of DL; the last time his AUV sustained minor damage, he was advised that, since the repair cost was below his participation fee, he had the option of just shouldering the repairs himself, kasi lugi siya kung idadaan pa niya sa insurance. May point naman sila dun.

On my end naman, I don't mind the relatively high participation fee, since I don't expect to shell it out on a regular basis, unlike the insurance premium which I'm supposed to anticipate every year. Once pa lang naman ako nag-file ng claim for an accident, and you're right, convenient talaga ang service nila.

Originally Posted by devdevlin

mtanong ko lang ano yun participation fee? so you mean kailangan mo magbayad ng 10K para makuha mo yun bago sidemirror assembly? bago lang kasi ako kaya hndi ko alam mga bagay na yan.

In automobile insurance, the participation fee refers to a set amount (usually a fraction of your vehicle's appraised market value) that you pay the insurer in order to claim for damages, regardless of the amount of damage your vehicle sustains in the event of an accident.

For example, my policy dictates a P7,000 participation fee for my vehicle. I become involved in an accident, and my vehicle sustains damage amounting to P120,000. If I choose to have this damage repaired under insurance, all I have to do is pay the insurer P7,000 as my participation fee, at sila na ang bahala sa malaking repair bill ko. The participation fee typically varies from one insurance company to another, and it can go for as low as P2,000.

The participation fee is different from the insurance premium (the annual 'enrollment fee' that you pay to keep your policy from expiring). You'll notice that, among different insurers, the participation fee is inversely proportional to the insurance premium e.g. Insurer A offers a high premium with low participation, while Insurer B offers lower premium with higher participation. One rule of thumb is, if your total accident repair cost is less than your prescribed participation fee, you're better off paying for the repairs as an out-of-pocket expense; save your participation fee (and your insurance claim) for more serious damages.

**diesoline** · May 16th, 2007 08:03 PM

bogey, guess what? if i can't verify EBC's current fixed participation cost and premium tomorrow, DL might just get my business again.

malayan gave me the lowest quote and many other benefits with 45 days term to boot. DL has lesser benefits compared with malayan but their killer blow is the 6-month staggered payment arrangement -- i just divide premium cost by six, write up the corresponding checks, send it to them and the policy arrives via next-day-courier.

i haven't been familiar with the 1% deductible/participation rule since last year was the first time i ever considered filing for a claim. btw, this really sucks because i've been driving for over 20 years now, and, ngayon ko lang nalaman ito, hehehe! testament to my being an, ehem, exemplary driver.

**cocoy_01** · May 16th, 2007 08:19 PM

Stupid questien guys:

Can i still enroll my ride(91model) sa compre insurance? If pwede mga magkanu kaya yun?

**geebunny** · May 16th, 2007 08:34 PM

Originally Posted by cocoy_01

Stupid questien guys:

Can i still enroll my ride(91model) sa compre insurance? If pwede mga magkanu kaya yun?

Almost all insurance companies don't accept more than 10-year old vehicle for comprehensive insurance.

**devdevlin** · May 17th, 2007 08:19 AM

Originally Posted by Bogeyman

In automobile insurance, the participation fee refers to a set amount (usually a fraction of your vehicle's appraised market value) that you pay the insurer in order to claim for damages, regardless of the amount of damage your vehicle sustains in the event of an accident.

For example, my policy dictates a P7,000 participation fee for my vehicle. I become involved in an accident, and my vehicle sustains damage amounting to P120,000. If I choose to have this damage repaired under insurance, all I have to do is pay the insurer P7,000 as my participation fee, at sila na ang bahala sa malaking repair bill ko. The participation fee typically varies from one insurance company to another, and it can go for as low as P2,000.

The participation fee is different from the insurance premium (the annual 'enrollment fee' that you pay to keep your policy from expiring). You'll notice that, among different insurers, the participation fee is inversely proportional to the insurance premium e.g. Insurer A offers a high premium with low participation, while Insurer B offers lower premium with higher participation. One rule of thumb is, if your total accident repair cost is less than your prescribed participation fee, you're better off paying for the repairs as an out-of-pocket expense; save your participation fee (and your insurance claim) for more serious damages.

ok to explanation na to, gets ko na tol thanks.