total loss claim

[nyvlem]

Mga sir ask ko lang yung offer kasi sa akin for total loss is fare market value less participation, dadagdagan back nila ng VAT yun?

[1D4LV]

alam ko non-vat yun kasi hindi naman sila ang magbabayad.
check din yung policy mo.

[_Qwerty_]

may depreciation pa yan.. so fare market value less depreciation less participation.

[makwin]

Fair Market value or Current Market Value is the prevailing selling price of your car in the market. Depreciation I think, is already netted out in the equation, meaning considered or deducted na yung depreciation sa Fair Market Value. Insurance claims are VAT exempt I believe.

[Retz]

Isn't it the premium that you pay for the amount insured of your vehicle, yan na susundin ng price pag total loss? e.g. Php500,000 ung own damage/theft premium that you pay is Php5K.

[_Qwerty_]

yes yan yung masusunod tapos binabawas nila yung depreciation so they end up paying for the current fair market value..

Isn't it the premium that you pay for the amount insured of your vehicle, yan na susundin ng price pag total loss? e.g. Php500,000 ung own damage/theft premium that you pay is Php5K.

[Manilablock]

Ask mo insurer mo na ibili ka na lan nila ng 2nd hand car na same specs ng car mo.