Repair or Total Loss

[SidCoronel]

Hingi lang po sana ako ng advise. yung 2023 suzuki ertiga gls namen binaha kasi. declared siya ni insurance na total loss.. 2yrs na siya this oct. sa mga ganitong scenario po ba makaka expect kami ng money in return? may remaining balance pa po siya sa bank kasi naka financing siya.

Short answer... Don't expect na ma return money mo 100%. Best news is your loan will be terminated.

[dr. d]

bottom line,
the insurance provider gets paid first.
whatever remains, filters down to you.

i agree. tawaran nyo pa. insurance payments are not etched in stone, and are subject to haggling if one knows how.

[anthon05]

Hingi lang po sana ako ng advise. yung 2023 suzuki ertiga gls namen binaha kasi. declared siya ni insurance na total loss.. 2yrs na siya this oct. sa mga ganitong scenario po ba makaka expect kami ng money in return? may remaining balance pa po siya sa bank kasi naka financing siya.

Two options to replace your car or cash. If you want insurance company will replace your Ertiga , They can
find a 2023 model bale 2nd hand as replacement or a new one and you will pay depreciation. meaning value ng 2023 against new model. you can negotiate pero kung you ask for Cash , you are lucky if you get half the price of the unit when you bought it. In this case might be just half of what you already paid. ang obligation ng bank is to
settle also yung loan sa bank and what you already paid. Better you talk to your insurance rep thank you

[luciadaisy]

Hingi lang po ko ng advise regarding sa 2018 Toyota Fortuner ko po. Nabili ko po sya September 2018 and under pa rin sya ng bank loan. Na aksidente po ko last week. Ask ko lang po kung declare in insurance ko total loss mag depreciate po ba value in insurance cover? Paano po yung downpayment ko at yung nahulog ko po. Thanks po

Attachment 35708

Kapag dineclare na total loss ng insurance, ide-depreciate po ang value ng sasakyan base sa age at condition bago ang aksidente. Ibabawas ang outstanding loan balance sa insurance payout. Ang naibayad mong downpayment at monthly payments ay hindi na mare-refund, pero matutulungan ka ng insurance sa pagbabayad ng natitirang loan.