Pls Suggest Car Insurance Companies

**chris_d** · September 19th, 2013 02:49 PM

Originally Posted by Manilablock

Nag Auto Loan ka ba sa BPI? Baka naman asa agreement nyo na hanga hindi bayad ung loan sa kanila ka lang pwede kumuha ng insurance.

Pero kung insurance lang ang kinuha mo sa BPI, at pinipilit kang mag renew e di wag mo bayaran, shempre get ka pa din ng insurance sa iba para covered ka pa din.

Eto reason kaya medyo napapaisip ako kung kukuha ng loan sa auto madness nila, mababa nga rates sa loan kaso mukhang babawi sa insurance.

**Retz** · September 19th, 2013 02:53 PM

^

magkano ba ung insured amount and premium quoted price sayo sir?

**shekyna** · September 19th, 2013 03:35 PM

Medyo matagal-tagal din akong nawala dito sa Tsikot. Tanong ko lang po, nag expire and car insurance ko last June 4, 2013. Nagsend daw ng Notice ang Toyota Manila Bay sa address namin pero walang nareceive ang mga anak ko (outside of the country po ako). Nag inquire ako kahapon at pinadala naman nila ang kopya ng kanilang offer (19,507.36 Pesos incl. AOG). Nakareceived narin ako ng offer from Direct Link (17,201.78) and Mapfre. Pwede bang ipa insure ang car ko sa iba? Under Toyota Financing ang car ko. Hindi rin ako ang nagda drive kundi ang mga anak ko at sila rin at makipagnegotiate sa insurer.

**[archie]** · September 19th, 2013 04:02 PM

^^^ ang alam ko sa financing, dapat accredited nila na insurance. Not 100% sure though.

**shekyna** · September 19th, 2013 05:12 PM

Originally Posted by [archie]

^^^ ang alam ko sa financing, dapat accredited nila na insurance. Not 100% sure though.

Thanks sa reply..

**Pipefish** · September 20th, 2013 12:03 PM

It is advisable (and possible) to have my HID-retrofitted headlights included in the insurance? I paid more than P20k for this retrofit and would like some peace of mind. Thanks.

**derf8666** · September 20th, 2013 02:03 PM

Originally Posted by Pipefish

It is advisable (and possible) to have my HID-retrofitted headlights included in the insurance? I paid more than P20k for this retrofit and would like some peace of mind. Thanks.

Yes it is ok. Just advise your insurance company and have it properly endorsed. You may have to pay additional premium for it, depending on your existing coverage.

**derf8666** · September 20th, 2013 02:13 PM

Originally Posted by shekyna

Medyo matagal-tagal din akong nawala dito sa Tsikot. Tanong ko lang po, nag expire and car insurance ko last June 4, 2013. Nagsend daw ng Notice ang Toyota Manila Bay sa address namin pero walang nareceive ang mga anak ko (outside of the country po ako). Nag inquire ako kahapon at pinadala naman nila ang kopya ng kanilang offer (19,507.36 Pesos incl. AOG). Nakareceived narin ako ng offer from Direct Link (17,201.78) and Mapfre. Pwede bang ipa insure ang car ko sa iba? Under Toyota Financing ang car ko. Hindi rin ako ang nagda drive kundi ang mga anak ko at sila rin at makipagnegotiate sa insurer.

Originally Posted by Pipefish

My insurance is expiring this month (free in the first year) and I'm under contract to renew it with BPI's insurance unit before the end of the month. What can I do to get the best (and fair) deal, given that I'm tied to them?

Their deductible and premium are very high and I pointed it out to them. I was only told that I signed an ``automatic renewal agreement" with them when I got the insurance last year. I never had to avail myself of their service in the first year given the high deductible. What can I do? Thanks.

You can have your unit insured with other insurers as long as they are accredited. It is illegal for banks/financing companies not to give you other options. You can have it insured with them but you should have other options. I have had clients who took out loans with BPI and Toyota. Medyo mas strict lang sa BPI as the clients should write a letter indicating that they want to insure their unit somewhere else.

Usually if you do not submit a policy from other insurers on or before the expiry date, they will insure it automatically with their chosen insurer. I think thats mainly the gist of the "automatic renewal agreement". unless it is specifically worded in such a way that you are liable if you do not renew with them, then try to get some quotes from other insurers and show it to them so that you can haggle down the price.

**rvdelara** · September 20th, 2013 02:55 PM

Yes but you need to declare it.

**Manilablock** · September 20th, 2013 03:54 PM

Originally Posted by derf8666

You can have your unit insured with other insurers as long as they are accredited. It is illegal for banks/financing companies not to give you other options. You can have it insured with them but you should have other options. I have had clients who took out loans with BPI and Toyota. Medyo mas strict lang sa BPI as the clients should write a letter indicating that they want to insure their unit somewhere else.

Usually if you do not submit a policy from other insurers on or before the expiry date, they will insure it automatically with their chosen insurer. I think thats mainly the gist of the "automatic renewal agreement". unless it is specifically worded in such a way that you are liable if you do not renew with them, then try to get some quotes from other insurers and show it to them so that you can haggle down the price.

Technically kung ang car mo under loan sa bank, hindi pa ikaw ang owner nyan it is still owned by the bank.

The bank will have to protect itself from losses in the event meron mangyari sa car na hindi mo pa naman fully paid.