Total Loss Process - What to expect?

[17Sphynx17]

Hello again [emoji3]

So casa called me today and asked me to submit a letter with my signature on it, stating why the claim was filed late. It will be submitted daw sa insurance.

Normal ba to?? Parang ang weird kasi sila naman cause kung bakit matagal yung claim. Halos every other day nga ako tumatawag kung nakapag file na ba sila. Tapos sabi, still finalizing daw sa prices. Last week hindi ako nakatawag kasi nabusy ako sa work. Monday this week lang ata sila nakapagfile kasi tumawag ako ulit, which is more than a month na since the incident happened.

Sino na nakaexperience ng ganito? Para kasing pinapasa sa akin yung blame if ever hindi makaclaim ng insurance. Need ko na ba magseek ng help sa abogado?

Thanks! [emoji846]


Gesendet von iPhone mit Tapatalk

Honestly, kung ganun pala.. Sulat mo na si Hyundai Philippines or kung sino dealer yung nagaasikaso ng submission as the main culprit bakit late claim kasi sinumbit mo naman every document they asked on time, asa kanila pa yung kotse the day after the incident. Kung kelangan nila additional proof, may email or sms correspondence ka naman siguru na pwede screenshot and print that you can provide at their request.

In house ng casa din ata insurance mo right? So anlabo ng nangyayari sa iyo tbh.

[Biermeister]

Honestly, kung ganun pala.. Sulat mo na si Hyundai Philippines or kung sino dealer yung nagaasikaso ng submission as the main culprit bakit late claim kasi sinumbit mo naman every document they asked on time, asa kanila pa yung kotse the day after the incident. Kung kelangan nila additional proof, may email or sms correspondence ka naman siguru na pwede screenshot and print that you can provide at their request.

In house ng casa din ata insurance mo right? So anlabo ng nangyayari sa iyo tbh.

Yup in house. Kaya nga nagtataka ako, parang ang weird lang na may letter pa. Sana maok na to. Grabe baka abutan pa ng 2021. [emoji24]


Gesendet von iPhone mit Tapatalk

[kapitan88]

How do insurance companies dispose total loss cars? pano kaya ang transfer ng registration nun? I saw last night sa expressway yung totaled car ko (Flooding), maayos naman ang settlement ng insurance, I just wonder, may court process siguro para mailipat sa name ng new owners yung car? The car still looks fresh and sparkling btw, sayang din, and happy its back on the road again.

[dr. d]

How do insurance companies dispose total loss cars? pano kaya ang transfer ng registration nun? I saw last night sa expressway yung totaled car ko (Flooding), maayos naman ang settlement ng insurance, I just wonder, may court process siguro para mailipat sa name ng new owners yung car? The car still looks fresh and sparkling btw, sayang din, and happy its back on the road again.

at the right price, there are always ready buyers of such cars, po.
it's one way for the insurers to minimize their loss.

as you legally wrote off your claims to the car over to the insurer, i do not think there is a court process involved.
it's like the trade-in car industry. there are buyers waiting in the sidelines.

my 1.20 pesos' worth.

[harmiah]

Hi, first time car owner here.
I got a car from a Dealer last July 2024, but during that time or 10 days after I had it, Typhoon Carina struck and my car was submerged during the onslaught. I only had it for 10 days so I already filed for a claim since my insurance sya. Nag kaissue lang kasi hindi pa pla agad na book ng dealer s bank ung pag kuha ng car kaya natagalan sa pagkuha ng outstanding balance sa bank. Sabi ng insurance total loss na daw kasi inabot ung s console or dashboard.
My question is ung policy naka name sa akin.. once na approved ba ung claim kanina nakaname ung check sa akin ba or sa bank?

[shadow]

Hi, first time car owner here.
I got a car from a Dealer last July 2024, but during that time or 10 days after I had it, Typhoon Carina struck and my car was submerged during the onslaught. I only had it for 10 days so I already filed for a claim since my insurance sya. Nag kaissue lang kasi hindi pa pla agad na book ng dealer s bank ung pag kuha ng car kaya natagalan sa pagkuha ng outstanding balance sa bank. Sabi ng insurance total loss na daw kasi inabot ung s console or dashboard.
My question is ung policy naka name sa akin.. once na approved ba ung claim kanina nakaname ung check sa akin ba or sa bank?

Bank


Sent from my iPhone using Tapatalk

[dr. d]

the mortgage provider gets first dibbs on the insurance payout, i.e., cheque.
whatever is left, if any, is yours.

in effect, we pay good money to insure the car under the mortgage provider's name.

[glenn_duke]

the mortgage provider gets first dibbs on the insurance payout, i.e., cheque.
whatever is left, if any, is yours.

in effect, we pay good money to insure the car under the mortgage provider's name.

Normally free ang insurance for first year.
Kung NO DP yung sasakyan nya, swerete nya.
Otherwise DP lang talo sa kanya,

[dr. d]

Normally free ang insurance for first year.
Kung NO DP yung sasakyan nya, swerete nya.
Otherwise DP lang talo sa kanya,

heh heh.
while we-the-car-owner may get to see only the bottom peso, cuentado lahat yang baryang yan, when settling insurance pay-off. and they do have formula for shortened full payment scheme, i.e., total loss for brand new. that formula will protect the mortgage provider from even one kusing of loss. the remainder is for the car owner to enjoy.
but receiving an identical brand-new car as replacement for the loss of his ten-day old car, with no hidden costs, including processing fees, would be the ideal clean solution.

as an aside,

when i drive my newly-purchased car from the dealer's, i specifically ask if the insurance is already in action. meron kasi kaming urban horror story concerning a colleague's new bimmer and a carretela...

in truth, nothing is free in the auto industry.
but they are very good at squirreling monies into various nooks and crannies... if we don't know where to look, we wouldn't know that we are actually paying for those "freebies".
some basic accounting of their various payment schemes, will usually show where the moneys were squirreled into... a few pesos here... a few pesos there... x 60 months...
some car manufacturers are quite strict on how their dealers price their cars, lest it spiral into a nasty cut-throat price war. pati freebies, bilang na bilang.

some years ago,
there was this popular casa that advertised for a fifty thousand peso discount for spot-cash buyers.
but upon astute inquiry, the previously-free 1st year insurance and LTO had mysteriously disappeared... cash buyers are not required by the casa to compre-insure their cars.
folks who do not follow the short history of car prices, may not pick this up. but haunters of casas ("me!")... heh heh.

now, where's my coffee...