Saturday, August 13, 2022

How To Claim Car Insurance Philippines

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How To Put Together A Professional Demand Letter For Car Accident Damages

How to File Car Insurance Claim in the Philippines

When you write your demand letter, keep your goals in mind. The best demand letters stick to the facts and include supporting documentation. Here are a few tips on how to write a professional demand letter that your opponent will take seriously:

Type your letter. If you don’t have a computer, ask if you can use a friend’s or use one of the computers at your local public library.

Be polite. Don’t personally attack the other side or use overly emotional language in your demand letter. Your goal is to reach an agreement, not to provoke an angry or dismissive response.

Keep it short, but not too short. Your letter needs to include all of the important facts, but unnecessary details and dramatic elaborations will only distract from your position. Your letter should include a concise factual summary of the accident, an overview of your damages, your settlement demand, and not much more.

Review the facts. Tell your side of the story with documents like police reports, witness statements, photographs, repair estimates, appraisals, and state laws to support your position. Organize your store in chronological order with specific dates.

Ask for what you want, but be reasonable. Don’t expect the other side to read your mind. Demand a specific amount. You might want to ask for a little more than what you want so that you have room to negotiate, but don’t be unreasonable. Your settlement demand figure has to be connected to your actual losses.

Auto Insurance : Basic Requirements Of A Ctpl Claim

In the Philippines, each and every car is required to carry a Compulsory Third Party Liability insurance. This basic type of auto insurance covers third parties–people not belonging to the drivers family or employ–involved in the accident for damages that include injury or death.

Knowing how to file a CTPL claim is important, because you never know when you may figure in a road accident. It pays to be prepared, so keep this requirements in mind, and dont let panic get the best of you when filing a CTPL claim.

Im Planning To Sell My Car Can The Insurance Be Transferred To The New Owner

Insurance policies are personal by nature, so it means that your car insurance isnt attached to your vehicle. In case of a change of ownership, youll need to create an endorsement document, so the insurance policy will be transferred to the new car owner.

To facilitate the smooth transfer, you may want to consult your insurer before selling your car. Doing so will also help you brief the new owner about the mechanics of filing a claim should they decide to continue your insurance.

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The Different Types Of Auto Coverage In The Philippines

One of the most important decisions to make when it comes to owning a car is the insurance that you should get with it. After all, a car is a hard-earned investment, and protecting it is the top priority for all car owners. Nowadays, with so many car accidents and damages reported at every news portal, it has started to become a necessity than a luxury. Plus, its a great way to have peace of mind with the hypothetical car accident scenario.

However, an astounding number of car owners are very much in the dark about the true extent of car insurance such as the different types, what sort of insurance covers what situation, and even the extent of coverage it can offer. This lack of knowledge can prompt car owners to avail of an insurance policy that wont adequately cover damages that your car may sustain depending on the situation.

Today, we explore the different types of car insurance that are available in the Philippines:

Compulsory Third-Party Liability Insurance

Section 373c, Chapter VI of the Insurance Code of the Philippines mandates all car owners to get compulsory third-party liability insurance upon registration of the vehicle. This ensures any third parties in the instance that they encounter an accident while riding your car or even suffer an injury outside of your vehicle if youve caused it.

More can be learned about this insurance with our infographic.

Comprehensive Car Insurance

Third-Party Liability Insurance

Additional types of insurance

What Are The Pros & Cons

Where to file a vehicle claim in the Philippines
Financial protection against damage of vehicle and bodily harm of yourself, passengers and third parties, depending on the type of insurance.
Peace of mind that your vehicle, passengers and others on the road are protected.
Saves you money from potentially large repair and medical costs.
Insurers handle legal and paperwork, providing expertise and saving you time.
Well its not really a con, but yes you do have to pay an annual insurance premium
There are deductibles before you start using your insurance to cover medical expenses for example, but still much cheaper than potentially paying for the whole medical bill yourself.
Dont expect all comprehensive insurance policies to be the same, they wont all cover everything, make sure you clearly understand what is and is not included, so that there are no surprises down the road.
Yes its true you might pay the yearly premium and never use your insurance, but that is a good problem to have.

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Choose A Secondhand Car

Many people might be opposed to buying a secondhand car, but its not a bad idea to settle for it if thats what your budget allows. The good thing about preloved options is you can save quite a lot on the expenses. The upfront cost is significantly lower, so you can pay for it in full in some cases. This means you no longer have to worry about monthly payments anymore, and you can set aside that budget for other expenses, such as maintenance and repairs.

Whether youre purchasing from a trusted dealer or just an acquaintance, getting a secondhand car can be pretty tricky. Be sure to ask the vendor if the vehicle has any problems. Its also a good idea to bring a reliable mechanic with you, so they can check the car if there are issues that the seller is trying to hide. Even if there are no huge concerns about the vehicle, its still best to protect it with comprehensive car insurance in the Philippines.

Documents Required From A Passenger Accident

Documents Required from Insured would be the following:

  • Original copy of Medical Certificate
  • Original copy of medical receipts with prescription
  • Certified copy of Death Certificate
  • Certified copy of Funeral Bills/receipts
  • Certification of Employment

Other additional documents as may be required other than the above.

We compare prices from various motor insurance companies. Compare the best vehicle insurance coverage in the Philippines now!

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About the author

eCompareMo eCompareMo is the No. 1 financial e-commerce site in the Philippines. Follow us on Twitter and Instagram: @ecomparemo.

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Comprehensive Car Insurance In The Philippines

A Compulsory Third Party Liability insurance policy usually does not cover the cost of repairing damage to the insured vehicle. This is where comprehensive insurance comes in. Comprehensive car insurance in the Philippines takes care of costs related to damage, theft or loss of the insured vehicle.

Compared to CTPL, comprehensive insurance policies entail a higher annual premium, since they are broader in scope, as indicated by the word comprehensive. Typically, a comprehensive car insurance policy will apply to the car in its stock form third-party accessories are not included. However, you can have your accessories declared under the policy, with a corresponding increase in your annual premium.

Insurance policies often cover vehicle breakdowns as part of the service

Filing a claim for comprehensive car insurance in PH entails paying a deductible, or participation fee, to facilitate processing. This car insurance participation fee is typically 0.5 to 1% of the total market value of the insured automobile. The fee is there as a safeguard against the policyholder abusing the insurance policy by claiming for the smallest of damages, as well as deterring fraudulent claims.

If parts of the insured car have been damaged or stolen, such as side mirrors, wheels or tires, you can also file a claim for the items lost however, this may not apply to items placed inside the car, such as personal belongings.

You can avail of insurance coverage against fire damage and explosions

Tumawag Ng Medical Assistance

Automobile Insurance in the Philippines

Tumawag ng ambulansiya at ng pulis at simulang alamin kung may nasaktan ba sa insidente. Ang susunod mong dapat gawin ay kunan ng litrato ang iyong sasakyan gayundin ang nakabangga mo, kasama ang plaka.

Maari kang tumawag saMMDA 1-3-6 upang makapagpadala ng medical team at imbestigador sa pinangyarihan ng aksidente

Kunin ang lahat ng impormasyong kaya mong makuha dahil kakailanganin ito ng mga car insurance companies. Kung may nakasaksi sa pangyayari, kunin ang kanilang contact numbers.

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Do Not Fill Forms In Haste

You are required to fill a form when filing a claim. It includes necessary details such as the information, the insured car, policy details, and credentials. Additionally, never give any recorded or written statements to your insurer unless you fully understand and review your insurance coverage.

You might need a comprehensive car insurance ph to protect you and your vehicle from unfortunate accidents that can cause you financial difficulties in the future. Mainly since driving along Philippine roads entails potential dangers with its constant traffic and vehicular congestions.

Following Are The Coverages We Offer:

Compulsory coverage

  • Compulsory third party liability-bodily injury – Mandatory cover required by law for all registered vehicles intended to protect vehicle owner / policyholder against third party/ies bodily injuries and/or death.

Voluntary coverage

  • Loss or damage cover – Protects the vehicle owner / policyholder against loss or damage incurred by the insured vehicle due to accidental collision, fire, explosion, theft, overturning and malicious damage.
  • Third party liability

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Physical Injury Or Death

Where to file a vehicle claim in the Philippines

If your car hits another person and the incident results in injury or death, turn to your insurance contract to see how this will be covered. This is the first thing that you should do, especially if you have a comprehensive car insurance policy.

Similarly, you can file a claim if your passenger gets injured or dies from the accident. In the same vein, you can file a claim if youre injured, or your family can avail of the insurance benefits in case of your death.

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What Is A Certificate Of No Claim In Insurance

In case of an accident involving a third party, youll need to secure a Certificate of No Claim from the third partys insurance company prior to the processing of your car insurance claim. This document certifies that the third party has not made any claims from his own insurance, preventing them to file a double claim in the future.

What Is Car Insurance

Its your financial protection against vehicle-related damages. A car insurance can include the coverage/protection for following:

  • Property Vehicle damages or theft
  • Liability If youre the offending party, you are legally required to pay for damages
  • Medical For covering medical-related expenses brought about by car-related accidents

Why is it important?

Lets go back to our scenario earlier .

If the truck has insurance, the owner can simply contact the insurer and have them take care of paying the damages to the other party. This is called Third Party Liability Insurance.

So instead of paying the expenses out of his own pocket , the insurance will pay for the damages inflicted.

Imagine having no insurance in that situation and it was concluded that he has to pay Php 50,000 to the other party.

Aside from the expenses for fixing his truck, he also has to shoulder the Php 50K for damages.

Double whammy indeed.

To quote the jeepney driver earlier all I can say is, Saklap niyan, par!

And thats why car insurance is important. Its protection for your pockets against car-related damages or accidents.

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On Filing Riots Strike & Civil Commotion Claim

With a Riot, Strike, Civil Commotion coverage, your car is covered for damages resulting from a riot, strike, and civil disturbances. Some insurance offers cover for acts of terrorism.

This type of insurance coverage is usually an add-on that you have the option to purchase or not.

Requirements for filing Riots, Strike & Civil Commotion Claim

  • Filled out a claim form
  • Police report or notarized affidavit of the car accident from the insurance company
  • The estimate of repair work

How Car Insurance Works

how to put claim car accident insurance via db law philippines 2022

A car insurance is a contract between the insurance company and yourself that you will pay the premiums and the insurance company will pay any losses as declared in your insurance policy. No matter how cautiously and defensively you drive, car accidents can still happen. When you buy car insurance, you are buying yourself security.

The kind of insurance you prefer, what kind of vehicle you drive, and how old the vehicle is will determine the kind of policy you will get. Car insurance companies offer different kinds of insurance coverage depending on your needs. Most insurance companies offer comprehensive insurance with acts of nature. This covers own damage and malicious acts, physical injuries, property damage, and personal accidents as well.

Car insurance companies in the Philippines can insure vehicles that have a market value of not lower than 250,000. For vehicles that dont meet this requirement and are more than eight years old, it will depend on the insurance companys discretion. Keep in mind that it will definitely cost more to insure an older car compared to a brand new one.

If youve decided to get one, choosing the right car insurance provider can be a daunting task. You can start off slowly as you compare car insurances first to find out which one fits your need, as well as your budget.

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What Happens If Your Insurance Claim Is Denied

There are cases where the claim is rejected or the insurance companys settlement offered may not be agreeable to you.

Whenever an insurer rejects a claim, they will provide an official rejection letter detailing the reasons why they are unable to proceed with your claim.

If you are not satisfied with the reasons the insurance company provided, there are some things you can do to make the next steps more manageable, so you dont have to scramble to pay the damages yourself.

Do Not Make Settlements With Third

There are times when the other party responsible for the accident may offer an on-the-spot settlement. Never accept a deal made to settle the matter without informing your insurer. The third-party involved may propose compensation that may be less than the actual cost of getting the damages repaired.

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Best Car Insurance In Philippines: Malayan Insurance Company Inc

Malayan was founded in 1930 in the city of Manila and was formerly known as the China Insurance and Surety Company. It is currently operating as a subsidiary of the Yuchengco Group of Companies.

The following are the insurance coverage and services they provide:

  • Third-Party Liability Cover
  • Strikes, riots, and civil commotion coverage

Malayan Insurance Company Inc. was formerly known as the China Insurance and Surety Company

Comprehensive car insurance premiums with the Malayan Insurance Company, Inc. started at Php 23,000+ per year.

> > > Read more: 10 must-know things to consider before buying car insurance in the Philippines.

Cons Of Having A Car Insurance:

Where to file a vehicle claim in the Philippines
  • You will have to pay for it Like any other type of insurance, you need to pay the premium
  • Deductibles Fees that you need to pay before the insurer can begin paying for coverage for your policy
  • Your current insurance might not include coverage for other types of damages
  • Its possible you will not utilize it at all

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What Are The Car Insurance Add

Some typical ad-ons to your insurance policies are usually increases in financial protection or increased benefits, below are some common examples.

Voluntary Third Party Liability – This coverage protects for indemnities beyond the limits set forth under the CTPL coverage.

Personal Accident Insurance – Financially protects the driver and passengers against bodily injury or death if an accident occurs.

Roadside Assistance – Is usually an optional added service, which provides peace of mind if you breakdown or need a towing service.

Acts of Nature – Provides financial protection if your car was to be damaged by typhoons, earthquakes, flooding, volcanic eruptions or other similar natural disasters.

Loss of use – If your vehicle is under repair you can usually borrow a vehicle for upto 2 weeks, whilst your car is not available to use.

Sample Demand Letter: Claim For Vehicle Damage After A Car Accident

Here is an example of what a winning demand letter might look like in a vehicle damage claim after a car accident.

Dear Mr. Kenny:

As I informed you by email on July 16, 20xx, my car was damaged in an accident with your insured, William Jenkins. I was stopped at a stop sign on July 12, 20xx in Waukesha, WI when Mr. Jenkins slammed into the back of my car with his van.

Mr. Jenkins was obviously negligent. He rear-ended me while I was waiting at a stop sign. He wasn’t paying attention and he was likely speeding when he forcefully hit me. It is an open-and-shut case. ” rel=”nofollow”> rear-end accidents.)

When Mr. Jenkins slammed into my car, my trunk caved in. I have a small Honda, and small cars don’t tend to fare very well when they are hit by vans. My regular mechanic recommended that I take my car to Waukesha Body Shop. The mechanics at Waukesha gave me an estimate of $4,600 for a full repair. I have attached a copy of the estimate to this letter, along with photographs of the damage.

My car is only two years old, and is worth far more than $4,600. I understand that your appraiser estimates that repairs will cost $4,000. Our estimates are not that far apart. The Waukesha Body Shop is an independent, Honda-authorized repair shop. My understanding is that your appraiser’s estimate is from a repair shop that regularly works with Northern Insurance and your estimate doesn’t itemize each part and labor cost.

Thank you.

Fred Smith

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