Total Loss Process - What to expect?

**_Qwerty_** · November 6th, 2019 07:42 AM

2nd hand altis? ang depreciation based sa age nang car.. anong year ba nang altis mo? if it's only worth 492T, then that's not brand new..

so 2nd hand car ni loan mo? as stated, kung ma total man yan, babayaran muna yung loan mo sa bank, kung may matitira, yun ang makukuha mo..

Originally Posted by Chomin

bought a 2nd hand toyota altis 1.6 G variant 2 months ago, i was involved in a car accident recently, i know wla pang depreciation yan kasi 2 months pa lng, can i expect this to happen? kasi yung BPI MS insurance coverage for the car is 492,000 pero yung appraisal ng bpi autoloan is 360k+ i had to cover pa the difference from the price of the seller which is 500k originally, inutang ko pa yung 100k. now i think totaled na yung car kahit d pa na evaluate dahil abot machina yung damage. what can i expect from BPI MS, will they give me the total amount of the insured amount to buy a new car and continue the loan agreement??? or will they give me an amount according to the fair market value of the vehicle and payoff the loan and the remaining amount is mine???? pls help

**Biermeister** · August 21st, 2020 05:01 PM

Hello everyone! Last Wednesday night, nagkabaha sa amin and mabilis talaga yung pagtaas ng tubig. I was working from home nun, then may kumatok lang then nagsabi na yung parked cars daw sa labas, lubog na. Nagpanic ako, so yung ginawa ko, I turned the engine on and tried to save the car. Nalipat ko pa naman siya dun sa road na mismo. Yung tubig halos umabot na sa kambyo. The next day, nagpatow na ko then I had it checked sa casa. 6 months pa lang yung car and may acts of god na kasama yung compre insurance ko from Charter Ping An (Axa) So far ito yung mga naobserve ko personally sa car after nung flood:

1. Naka-on halos lahat ng indicator lights sa dashboard, although nagoon naman yung engine.
2. Yung taco, hindi nagrerespond if inaapakan yung gas.
3. Sira din ata yung electronic steering, kasi matigas siy and nakaon din yung indicator nya sa dashboard.
4. Worried ako sa makina, pero chineck ko yung oil, wala namang water bubbles or prang tubig. Pero hindi ako expert.

Worried kasi ako na baka hindi na siya maging tulad nung dati kahit irepair.

Yung car ko po is hyundai reina MT. Nakafinance yung car.

If total loss ba, ano kaya ieexpect ko? Ok nalang sana kahit lugi ako, as long as after nung payment from insurance may makukuha akong pangdown for another unit. Need kasi talaga yung car.

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**bxr monkey** · August 21st, 2020 10:31 PM

Kung total loss, puwede pa makuha halos buong insured value since bago pa sasakyan. Sana pumayag insurance sa total loss claim.

Malamang i attempt nila ayusin muna since mas mababa cost sa kanila. May warranty naman Hyundai sa repairs nila, palit new parts ang affected areas.

**StockEngine** · August 21st, 2020 10:59 PM

next time, pag ang tubig lagpas na ng gulong, wag mo na paandarin. engine will just suck in water and blow itself up.

**dr. d** · August 21st, 2020 11:06 PM

i have a question.

pag 6 months old pa lang ang car, at naka-mortgage,
kapag total loss,
who gets the insurance pay-out, and what does car "owner" get?

**Biermeister** · August 21st, 2020 11:09 PM

Originally Posted by bxr monkey

Kung total loss, puwede pa makuha halos buong insured value since bago pa sasakyan. Sana pumayag insurance sa total loss claim.

Malamang i attempt nila ayusin muna since mas mababa cost sa kanila. May warranty naman Hyundai sa repairs nila, palit new parts ang affected areas.

Sana nga sir pumayag. Binasa ko yung policy, nasa 1.098M naman yung total sum insured.

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**Biermeister** · August 21st, 2020 11:11 PM

Originally Posted by StockEngine

next time, pag ang tubig lagpas na ng gulong, wag mo na paandarin. engine will just suck in water and blow itself up.

Yes hehe sa susunod di ko nalang talaga gagalawin, papaubaya ko na sa casa. Yung kasama ko, accent naman na automatic sa kanya, di nya nalang kinuha dun sa parking lot namin. Nagulat kami lahat kasi first time na bumaha ng ganun don.

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**Biermeister** · August 21st, 2020 11:14 PM

Originally Posted by dr. d

i have a question.

pag 6 months old pa lang ang car, at naka-mortgage,
kapag total loss,
who gets the insurance pay-out, and what does car "owner" get?

Hindi ako sure sir ha, pero based sa mga nakapost dito, regardless naman kahit less than 24 hours pa yung car, tapos total loss and covered naman ng insurance, babayaran muna nila yung bank based sa ilng percentage nung total sum insured less fees (di ako sure kung alin don), depreciation din if applicable. Yung remaining amount, ibibigay nila sayo.

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**dr. d** · August 21st, 2020 11:26 PM

Originally Posted by Biermeister

Sana nga sir pumayag. Binasa ko yung policy, nasa 1.098M naman yung total sum insured.

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a hyundai reina,
insured for 1.098 M...?
is it supposed to cover the actual cash price, or the total installment price?

**sirkosero** · August 22nd, 2020 12:43 AM

Originally Posted by dr. d

i have a question.

pag 6 months old pa lang ang car, at naka-mortgage,
kapag total loss,
who gets the insurance pay-out, and what does car "owner" get?

Insurance pays the bank kung naka loan. Kung sobra ang bayad ng insurance, yun mapupunta sa owner.

Kapag kulang ang bayad ng insurance, owner pays the difference sa bank

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