Comprehensive Car Insurance in Philippines

[jake]

So, it finally happened! After years of accident-free driving I bumped the WIFE’S car

Last week I decided to use her car, as the street I was going to is narrow and busy in the early evening. First obstacle was a birthday party on the street. Most of the guys drinking know me well and moved their chairs quickly without any problems, apart from a few complaints about me not joining in the celebration.

The old me would have stopped and ended up leaving the car, taking a tricycle home later and regretting that decision the next day!

Anyway, when I was about to park further down the street, I noticed a homemade wooden bench “PARKED” in the middle of the road. Thought I had cleared it as I pulled in, but for some reason I had misjudged the size and ended up clipping the edge. Didn’t think it would be too bad, until I had a look and realized I had damaged the back door and bumper. The bench survived unscathed after the initial impact. However, it later ended up in the drainage with two broken legs, due to a savage attack by a pair of Adidas.

Got home and told the wife, who wasn’t too pleased. The car is only 2 years' old and she insisted it had to be fixed at Casa (dealership), not some local garage. She must have read my mind

Next morning, I headed off to Honda expecting the quote to be around 4-8k. Turns out I had caused a bit more damage than I had originally thought and it was 20k. My original plan was to pay cash and not bother with the insurance, as I know there is a deductible amount when making a claim. The guy at Honda suggested I speak to their insurance department coordinator and he would help me make an insurance claim. Told him our Honda (sorry her Honda) is insured through BPI and he said it would only take 5 days to make the claim. Now, I have lived here for a long time and automatically thought at least 10 days if I am lucky.

Got a bit of a shock 5 days later when they called us and said the claim had been approved, so they could proceed with fixing the car. When the car is finished we will pay the first 5k of the bill. Although the amount may vary slightly, most insurance companies will take a deductible amount from the insured. At present the car is at Casa and should be home dent-free by Tuesday next week.

We had to do the following – Xerox copy of insurance policy
Xerox copy of Certificate of Registration
Xerox copy of drivers licence
Xerox copy Residence Certificate
Original copy of Polis report
The rest of the claim was/is taken care of by Honda and, from start to finish, I was impressed with the service we received. Just glad we have insurance and it will continue that way, as long as we have vehicles

[jake]

Vehicle insurance here in the Philippines comes in two different forms.

First of all, you have Compulsory Third Party insurance which you have to take out yearly when you register your vehicle. Can’t remember the exact fee, but its around Php 1,000 annually. A lot of people - including foreigners - think they are then covered for Third Party in the event of an accident.

Wrong! The annual fee is basically a waste of money - as they find out if they are unfortunate enough to be involved in an accident.

You then have Fully Comprehensive Insurance. The cost depends on the price of the car and (from experience) can vary from 10k (older car) to 30k for a (newer) SUV. This should cover any costs whether it's your fault or the other driver's.

Now, I know a lot of Filipinos and foreigners with older cars tend to not bother with Fully Comp insurance. That, in my opinion, is a huge mistake. Plenty of very expensive cars running around the Philippines these days and an accident with one could run into a bill for millions of pesos. Doesn’t matter if you're driving or not, as it's still yours or your wife’s car.

To any of you living here or thinking of living here:

If you do get a car please get the appropriate insurance.

[Terpe]

Interesting and very useful post Jake
Thanks

Still early days for us to be thinking of a car.
I need to sit down and consider if it's worth it for us living where we do.
If we decide to live somewhere where transportation wasn't so easily available it might be a different story.

Anyway I've booked this post as a reminder and help

[raynaputi]

I hope Ate Julie didn't make you sleep with the dogs!

[KeithD]

I hope Ate Julie didn't make you sleep with the dogs!

Some Manc slappers live near Jake?

[stevewool]

Can't beat fully Comp, it's what I go for - even if the car is worth only £200,

[jake]

Still early days for us to be thinking of a car.
I need to sit down and consider if it's worth it for us living where we do.
If we decide to live somewhere where transportation wasn't so easily available it might be a different story.

During our first few years here, we didn't have a car. I did enjoy riding public transport but as our business grew we found that moving goods from A to B was a pain. The vast majority of foreigners I know in our area own a car. Most are in their 60's and 70's and say getting in and out of public transport becomes more difficult with age!

[jake]

I hope Ate Julie didn't make you sleep with the dogs!

Yep, the Scouse/Manc mongrel

[Terpe]

During our first few years here, we didn't have a car. I did enjoy riding public transport but as our business grew we found that moving goods from A to B was a pain. The vast majority of foreigners I know in our area own a car. Most are in their 60's and 70's and say getting in and out of public transport becomes more difficult with age!

Valid points Jake.
Hope I can fight off those age difficulties for a while yet

Went to view a couple of vehicles today. The wife's idea.
Both were totally overpriced and totally unsafe IMO Couldn't believe the complete lack of maintenance nor the state of the engines.

My wife seems to be building up the pressure to get our own. Let's see how long I can hold out.
She's tried getting cute suggesting a new SUV that would be ideal for my fishing trips

[fred]

3 weeks ago some knob hit me from behind whilst I was queuing in the airport entrance..
He tried to convince me that there was little damage until I pointed out the dent in the back door..
Security told me I was causing a hold up and I had to move..The guy that hit me gave me 1,000.00 Pesos..Big deal.
Went straight to the dealer and claimed on our fully comp insurance..
Ended up paying 3k for deductible and was without the motor for 4 days.
Must say they did a good job and the repair looked as good as new.. Total cost too insurance company was 15k which is about what the insurance cost me.
Good insurance,definitely worth having!

[Terpe]

Don't suppose 'No-Claims-Discounts' applies here then ?

What happens to the insurance cost as you make 1,2 or even 3 claims in the same 12 month period?

bump.

[Terpe]

don't suppose 'no-claims-discounts' applies here then ?

What happens to the insurance cost as you make 1,2 or even 3 claims in the same 12 month period?

bump

[fred]

[QUOTE=Terpe;534148]bump



I did ask if my policy would go up next year and they said "No".
No point me asking them (the dealer) about no claims policy..You may as well speak to them in German as it might make more sense to them.
I suppose I should talk to the insurance company..Perhaps I will.

[Terpe]

[QUOTE=fred;534153]

bump



I did ask if my policy would go up next year and they said "No".
No point me asking them (the dealer) about no claims policy..You may as well speak to them in German as it might make more sense to them.
I suppose I should talk to the insurance company..Perhaps I will.

Thanks fred