Car Insurance

[Onemore52]

Good morning everyone,

In my attempts to find out from my other half about car insurance I have hit a brick wall, some people cannot just say "I don't know".

My understanding of it so far is that you pay a compulsory third party insurance which is included in the registration of the vehicle, so far so good.

But when it comes to comprehensive insurance last year a payment of 14,000 php was paid to an insurance agent, which seems excessive to me, especially when all we received was a receipt for said amount, so now I am asking the question of what do we get for this money, where is the contract, is there an excess on this contract for any claims and is there a reduction for age, or is there a no claim bonus?

All these questions that there is no answer to from within these walls.

Any information which can assist me get my head around this is appreciated, as I very much dislike handing over money to someone when I don't know what the money is being paid for, now I am not saying that I could have just paid the tax for my being a foreigner, I am not suggesting that at all.

If it helps the vehicle in question is a 2009 Nissan Navara.

Cheers

 

[Gary D]

Saying "I don't know". Philippine culture 101. If they don't know the answer you won't get a straight answer. Ask someone for directions and they will just send you off in any direction rather than admit they don't know. As to paying an agent the money likely endes up in their pocket. I was talking to an expat.who had his wife's car in the front of his house under a cover with a crumpled wing. The agent had trousered the money and the insurance company just shrugged their shoulders.14000 seems reasonable, try your bank they most likely offer insurence.

[OnMyWay]

42 minutes ago, Onemore52 said:

My understanding of it so far is that you pay a compulsory third party insurance which is included in the registration of the vehicle, so far so good.

It is compulsory but it is not part of the registration.  You have to have it to do the registration.  You can buy it from insurance companies before you go to LTO to register and you show them the receipt.  If you did not buy it ahead of time, you can buy it at LTO.  I bought mine from my agent last time, before I went to LTO.

47 minutes ago, Onemore52 said:

But when it comes to comprehensive insurance last year a payment of 14,000 php was paid to an insurance agent, which seems excessive to me, especially when all we received was a receipt for said amount, so now I am asking the question of what do we get for this money, where is the contract,

You should have received a detailed policy with all the details of your coverage.  Contact the agent or company and insist on it.  My policy looks very similar to a car insurance policy in the U.S.

50 minutes ago, Onemore52 said:

is there an excess on this contract for any claims and is there a reduction for age, or is there a no claim bonus?

That will depend on the company and would be detailed in the policy paperwork.

FYI, I paid 24,000 this year for full coverage on my 2014 Trailblazer, so 14,000 for a 2009 Nissan might be about right.  You just need the policy to find out what you bought.

My agent either hand delivers the policy or uses a courier.  If they use PhilPost, then who knows what might happen.

[Onemore52]

Thanks very much Onmyway,

So it is like everywhere else, it pays to shop around.

Thanks again

[Dave Hounddriver]

14 minutes ago, Onemore52 said:

it pays to shop around.

Yes, but I find it more beneficial to get personal recommendations from someone I trust.

Reason:  I have seen policies for the amount you mention that seldom if ever pay out and I have seen policies for the same amount pay out 3 times when the expat let his wife do the driving and each accident was her fault.  YMMV.  So you really need to ask a bad driver if their insurance pays out 

I have personally been victim to allowing someone other than myself to finalize the insurance for me.  It cost me 1,500 for a 500 peso policy.  Later examination showed me that the person I allowed to go get the insurance for me had simply added a "1" to the receipt, changing 500 to 1500.  You could possibly be a similar victim.  Look closely at the receipt.  If no receipt then you have no insurance.

EDIT:  PS, the guy I mentioned who had insurance that paid out three times used an agent for (memory is not perfect and this was 6 years ago so don't shoot me if I am wrong) Malay Insurance who was somewhere on Fuentes Circle in Cebu.  For me I self insure.  Each to their own 

EDIT 2: @OzeMike  Mike,  I forgot about that when you asked me about insurance.  It was Sherpa who told me about it.  If you still have his number or email you can ask him.  I'd suggest looking for an agent of Malay Insurance in Dumaguete.  There are many with similar names so be careful

Edited April 3, 2018 by Dave Hounddriver

[Onemore52]

Gary D,

Thanks also, no wonder I have given up asking them around me, which is why this forum is a necessity for a newbie to the Philippines, after 4 years I am still learning about this culture and their meaning of life.

On a side note, 17 months ago the building process started on my house here in Camarines Norte, and after 17 months it still isn't finished.

The work started with a full team of labourers, carpenters etc but as the work progressed they found they could get more money in Manila in the building game, so off they went. So while the actual structure has been finished for over 9 months the finishing touches are still going on.

While the plumbing was going on I noticed that the supply pipes to the water system from the tank were only 1/4" so I suggested to the plumber that they really need to be 3/4" to get a good supply to the pump, well he lost face on that suggestion and it was only a suggestion not a directive.

So having to go back to Australia on a compulsory return visit, I cam back to find everything hadn't changed, but also noticed a smell coming from the bathrooms, which was coming from the septic tank, after further investigation I found out he hadn't installed even at my request to install "S" traps, when I bought him to task on this he walked off the job, once again losing face.

I could turn this into a novel but I won't, just a portion of doing things here, so I won't go on and on and on and on.

At the end of the day San Miguel works for me and I think my liver will survive the ordeal.

On a lighter note, I stopped financing this project in the middle of last year when I realised they were taking the piss and left in all to my partners family to pay monies to everyone

When asked by one of her family members the other day when we were going to have a house warming,  I replied "I am hoping to have my seventieth birthday and the house warming on the same day", to which they  were not amused because that is 3 years away, and they know it.

Would I do it again, NO WAY.

Hope I didn't bore the pants of everyone.

[sonjack2847]

32 minutes ago, Onemore52 said:

32 minutes ago, Onemore52 said:

Hope I didn't bore the pants of everyone.

Hope I didn't bore the pants of everyone.

32 minutes ago, Onemore52 said:

 

 

Not at all posts help in form people who are new and remind us who have been here a while the pitfalls of life here.

 

Edited April 4, 2018 by sonjack2847

[OnMyWay]

10 hours ago, Dave Hounddriver said:

Yes, but I find it more beneficial to get personal recommendations from someone I trust.

Yes, I agree.  My agent is an expat recommended by many expats.  I have not tested it yet, but they all say he knows the system and goes to bat for you when you have a claim.