Total Loss Process - What to expect?

**bishop** · November 21st, 2017 10:15 PM

Hello, everyone. First-time poster here.

Just want to ask about total loss claims. Our car was recently deemed a "total wreck/total loss" by the insurance company since the estimated repair and labor costs went over the insured amount. Total nightmare since there's only 1 1/2 years to go before it's fully paid.

Now I have a few questions about claiming:

1. How long does it usually take for insurance companies to evaluate the car's fair market value?
2. Once the estimate is finished, how long then will they be able to offer us a sum amount for the insure vehicle?
3. What can we expect from the insurance company's offer? (We are afraid that they may lowball when it comes to the fair market value of the car but I hope it doesn't go that far.)

We're looking to get a new car before the excise tax law on cars take effect. We could use the money from the claim to pay for the downpayment but we're worried that it may take too long.

Apologies if this has been answered in different threads. Any input will be greatly appreciated. Stay safe on the road, everyone!

**sirkosero** · November 22nd, 2017 12:25 AM

After the assessment for market value, they will give you the initial offer. This will be low. You can choose to refuse and negotiate the amount based on your insurance coverage.

You mentioned car is not paid yet. So the proceeds from the insurance will be paid to your bank. Not to you. After the bank collects from the insurance and other charges they will charge, the leftover money will go to you. I dont think that will be substantial though.

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**bishop** · November 22nd, 2017 02:50 PM

Originally Posted by sirkosero

After the assessment for market value, they will give you the initial offer. This will be low. You can choose to refuse and negotiate the amount based on your insurance coverage.

You mentioned car is not paid yet. So the proceeds from the insurance will be paid to your bank. Not to you. After the bank collects from the insurance and other charges they will charge, the leftover money will go to you. I dont think that will be substantial though.

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Thank you for the reply! We are preparing ourselves for the worst scenario but still hopeful.

**19michele** · July 18th, 2018 12:08 AM

Hello everyone...any idea? Ito po ba ay total loss or for repair? Kung total loss what amount possible ko na makuha? 10minth old car palang sya..own damege..complete ko na requirement ko.kakapasa ko lang sa insurance Ng claim, last July 13, till now Wala pa updates... Malayan Insurance pala kinuha ko premium..how about sa medical expenses clain ano Ang requirements? Need your insights guys. How to attach photos here?

**StockEngine** · July 18th, 2018 03:06 AM

Originally Posted by 19michele

Hello everyone...any idea? Ito po ba ay total loss or for repair? Kung total loss what amount possible ko na makuha? 10minth old car palang sya..own damege..complete ko na requirement ko.kakapasa ko lang sa insurance Ng claim, last July 13, till now Wala pa updates... Malayan Insurance pala kinuha ko premium..how about sa medical expenses clain ano Ang requirements? Need your insights guys. How to attach photos here?

the site doesnt support pictures now. but you can use imgbb.com and use the bbcode option to show pics here. it takes a few months to get the insurance to process beyond-repair cases.

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**boybi** · July 18th, 2018 10:27 AM

Total loss claim amount should be the insured value of the vehicle. Basta the insurance adjuster deemed the vehicle as total loss, wala ng tawaran yan. Yung deductible lang ang bawas.

For a 10 month old car, wala pang depreciation yan, makukuha mo pa ang full value of your car less the deductible.

Processing time will depend on your relationship with your insurer. Connection and palakasan din yan.

**19michele** · July 18th, 2018 11:09 AM

Originally Posted by StockEngine

the site doesnt support pictures now. but you can use imgbb.com and use the bbcode option to show pics here. it takes a few months to get the insurance to process beyond-repair cases.

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IMG 21871 233948 — imgbb.com

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**glenn_duke** · July 18th, 2018 07:42 PM

Originally Posted by 19michele

Hello everyone...any idea? Ito po ba ay total loss or for repair? Kung total loss what amount possible ko na makuha? 10minth old car palang sya..own damege..complete ko na requirement ko.kakapasa ko lang sa insurance Ng claim, last July 13, till now Wala pa updates... Malayan Insurance pala kinuha ko premium..how about sa medical expenses clain ano Ang requirements? Need your insights guys. How to attach photos here?

Naka experience na ako ng total loss, sa Charter Ping An insurance, pag umabot na ng 75% ng insured value yung repair estimate, pwede ng ipa total loss, kasi may possibility na may sira pa na hindi nakita sa estimate. 3 months after the release of the final repair estimate saka ako nabayaran, nagtagal dun sa adjuster at sa casa kung i total loss o repairable pa. In my case wrecked yung engine bay, hindi na umaandar yung makina. In total, 6 months from day of accident ang tinagal bago ako nabayaran. Ang binayad sa akin ay yung insured amount na nasa policy dineduct yung participation at depreciation, prorated sa months from issuance ng policy.

May Malayan Insurance din ako sa isa kong sasakyan, nag file ako ng own damage claim last May, hanggang ngayon wala pang feedback, second parang limited yung casa na accredited ang Malayan.

Sa itsura ng Fortuner mo, mukhang na idrive mopa pauwi, baka mahirapan kang ipa total loss kung walang major damage ang engine, kausapin mo lang yung adjuster.

**19michele** · July 18th, 2018 07:52 PM

Originally Posted by glenn_duke

Naka experience na ako ng total loss, sa Charter Ping An insurance, pag umabot na ng 75% ng insured value yung repair estimate, pwede ng ipa total loss, kasi may possibility na may sira pa na hindi nakita sa estimate. 3 months after the release of the final repair estimate saka ako nabayaran, nagtagal dun sa adjuster at sa casa kung i total loss o repairable pa. In my case wrecked yung engine bay, hindi na umaandar yung makina. In total, 6 months from day of accident ang tinagal bago ako nabayaran. Ang binayad sa akin ay yung insured amount na nasa policy dineduct yung participation at depreciation, prorated sa months from issuance ng policy.

May Malayan Insurance din ako sa isa kong sasakyan, nag file ako ng own damage claim last May, hanggang ngayon wala pang feedback, second parang limited yung casa na accredited ang Malayan.

Sa itsura ng Fortuner mo, mukhang na idrive mopa pauwi, baka mahirapan kang ipa total loss kung walang major damage ang engine, kausapin mo lang yung adjuster.

Sir Glenn, naka usap ko kanina Yung manager Ng Insurance Co. Kasama daw sya sa pag inspect Ng adjuster, at magsasama din daw sya agent from the casa. She told me na it looks like total Loss na daw. Nung makuha pala Yung car from actual incident pagkatayo Ng sasakyan Mula sa pagkakataob ay Hindi sya umandar, pina pump muna nila yung sa may engine bago umandar. Pagka check ko Naman sa wheel alignment ay parang Hindi na sya aligned. I'm worried po about my unit.

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