Total Loss Process - What to expect?

**Ness** · July 20th, 2019 01:39 PM

Originally Posted by cast_no_shadow

Yes of course, kaya malaking bagay talaga insured ang vehicle. Imagine kung wala ka insurance, wala na yung oto nagbabayad ka pa din ng utang mo.

Nasa fine print yan? If it is then you answered yourself na.

Matagal talaga proseso pag total loss.

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Thank you so much sir. I will review the policy again. If it’s free insurance nga kasi for the first year, meaning considered bayad. Kelangan ko intindihin yung first year payment na sinasabi nila sa agreement.

**cast_no_shadow** · July 20th, 2019 01:43 PM

Originally Posted by Ness

Thank you so much sir. I will review the policy again. If it’s free insurance nga kasi for the first year, meaning considered bayad. Kelangan ko intindihin yung first year payment na sinasabi nila sa agreement.

Those free may mga catch kasi yan. Nothing is free.

Nakwento ko na ito before, when I got my car the bank offered free 1st year insurance.

Who reads those tiny fine print diba? Hehe

Catch is naka lock in ako for the duration of my loan.

Ayun higher premiums ang kapalit. Binawi at kumita pa lalo sila.

To opt out binayadan ko na lang yung “free” na inoffer saken.

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**Ness** · July 20th, 2019 01:45 PM

Originally Posted by dr. d

but it's free insurance!
free insurance is free insurance, whether you use it or not.
is there something written in there, that says one has to pay for it, should the car be declared a total loss?

Thanks po! I will review the agreement again. Ang hirap din talaga kasi kausap ni insurance. Kelangan mo sila kulitin talaga para ayusin nila at dalian nila ung process

**Ness** · July 20th, 2019 01:55 PM

Originally Posted by cast_no_shadow

Those free may mga catch kasi yan. Nothing is free.

Nakwento ko na ito before, when I got my car the bank offered free 1st year insurance.

Who reads those tiny fine print diba? Hehe

Catch is naka lock in ako for the duration of my loan.

Ayun higher premiums ang kapalit. Binawi at kumita pa lalo sila.

To opt out binayadan ko na lang yung “free” na inoffer saken.

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Makes sense, sir! Ayun na nga yun. May catch. Ayun na nakatali ka na nga sa kanila for the whole duration of your loan.

If I get another vehicle once this is settled, same dealer, same bank, can I choose the insurance for my car? And refuse to be insured dun sa partner insurance ni dealer?

**Andreiiacoma** · July 20th, 2019 05:21 PM

Ano pong sabi sa inyo and gano daw katagal abutin settlement ng claim? Sakin kasi follow up ako ng follow up dun sa offer letter nila inabot po ng 2 weeks, ganun ba talaga katagal yun? Any tips wgat can i do or say to them para mapa bilis pricess nung claim?

Maraming salamat for all the inputs!

Originally Posted by Ness

Same thing happened to our car po. 3mos old. Flooded. Evaluation result from third party went out july 14 daw po. Now, the person who initially handled my claim said na nasa head office na dahil total loss na and waiting na lang sa approved amount. Based sa thread, pwede makipag haggle sa initial offer. Which dapat hindi pa sobrang baba lalo na 3months pa lang.

Ngayon po, my question is, do we still need to pay the monthly amort to the bank hanggat hindi pa naiissue ung check?

Also, they are asking us to pay the 1yr premium as agreed daw po, which my bad I didnt read the agreement with them thoroughly. Per that agreement, if vehicle was declared total loss within 1 yr, we agree to voluntarily pay the first yr premium as cancellation na din sa 5yrs bond with them. Tama po ba to? Naka 1yr free insurance po kasi kami. Pero since na declare loss, pinapagbayad kami. Tama po ba yun?

TIA

**Ness** · July 20th, 2019 10:11 PM

Originally Posted by Andreiiacoma

Ano pong sabi sa inyo and gano daw katagal abutin settlement ng claim? Sakin kasi follow up ako ng follow up dun sa offer letter nila inabot po ng 2 weeks, ganun ba talaga katagal yun? Any tips wgat can i do or say to them para mapa bilis pricess nung claim?

Maraming salamat for all the inputs!

Wala pa din po update. Consistent din po ako nag follow up sa kanila. Una, sa laguna office kung san handled talaga ung policy ko. Then since na totaled, pinasa nila sa main branch.

Hindi ko din alam kung gano katagal ung settlement. We are planning to coordinate with the bank na din para they know that insurance will be paying for the car since totaled nga sya. Gusto din namin ma clear if mag new application kami to get a new clar ulit. Kasi lugi talaga eh, start na naman ng bayad. Gusto namin malaman ung approved amount para ma assure din kami na mababalik lahat ng naibayad, monthly amort and downpayment.

Update update po tayo dito ng progress! June 23 po nabaha ung vehicle namin. The next day, we submitted the docs to the dealer and pina tow agad namin. Tumagal ung docs actually kay dealer. Pero since lagi kami nag fafollow up, inaction-nan naman agad ni insurance pagka receive nila.

Suggestion po, kunin nyo ung contact info ng assigned sa claim nyo. Para sa kanila kayo mismo mag follow up.

**fleas2016** · July 21st, 2019 01:40 PM

Total loss means they will give you the max coverage of your policy. Unless there is some negligence on your part, what is there to negotiate?

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**sirkosero** · July 21st, 2019 02:58 PM

Originally Posted by fleas2016

Total loss means they will give you the max coverage of your policy. Unless there is some negligence on your part, what is there to negotiate?

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I dont think you had any experience claiming total loss.

Insurance company will not give you the insured amount in your policy. Normally they give you a price then you negotiate to get a higher amount, somewhere closer to thr insured amount written on your policy

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**fleas2016** · July 21st, 2019 06:08 PM

Yep, you are right. So far I have been lucky not to have experienced that - total loss. Only minor accidents where I did negotiate a bit just to get it repaired sa suking talyer.

I know someone who got his car stolen. The insurer paid his entire theft coverage after investigation and the stipulated processing time. But then the policy is used up.

Unless you're telling me there's a clause in our policies na ganun. I'd expect the insurance coverage I paid the premium for. Otherwise, I would just lower my coverage to get lower premiums no?

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**sirkosero** · July 21st, 2019 09:34 PM

Like what i said, you will not get the full insured amount. Lower the value to lower the premium is up to you but you will still not get the full insured amount.

You can ask your friend how much was given to him vs what his car was insured for.

We had a 1 year car sa office that was totalled. It was insured for 600k. We got 540k from the insurance... After half year and a lot of negotiation.

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