Question lang po after completing our in-house loan

**jefskie** · October 30th, 2014 12:39 PM

tapos na yung monthly namin for 4 years this october 15, nagpadala sila ng sulat na kelangan naming bayaran lahat ng premium insurance dahil hindi ilalabas ang documents kapag hindi nababayaran yung mga hindi namin nabayaran.

first year lang kami nag bayad ng insurance.. yung mga sumunod na taon ay hindi na. obligado ba talaga kaming bayaran yun? kahit hindi naman namin nagamit. for example hindi kami nagbayad ng insurance nung pangalawang taon at nagkaaksidente.. sasagutin ba ng insurance kahit hindi kami bayad?

kaya ang tanong ko bakit pa kami magbabayad ng insurance ngayong tapos na kung hindi naman namin magagamit.

nissan all-in inhouse. thank you po

**jodski** · October 30th, 2014 12:44 PM

Read the fine print sa pinirmahan mo na agreement muna bro... If its a new house usually covered yan since they will claim it sa insurance if anything untoward happens sa property

**yebo** · October 30th, 2014 01:15 PM

Car man or house need mo ng insurance until it gets fully paid. Saka may pinadala yan na notice sa iyo na hindi mo siguro pinansin, na need na i-renew insurance and failing to present a new insurance policy e sila ang magre-renew ng policy mo. So answer is yes you need to pay it since they got insurance for your car when you did not present to them a new policy. Matindi dyan sisingilin ka ng interest since lalabas na utang mo yun since 3 years ago, 2 years ago and 1 year ago (total 3 times they renewed the policy for you).

**victorevolution** · October 30th, 2014 03:37 PM

before you type and ask question, read your contract first.

a lot of members here will keep giving you good and bad smart arse reasoning, but none of them will be correct until they get a first hand view on what's written on the contract.

jodski is correct basahin mo muna fine print mo bago ka magtanong.

di pa nga namin alam kung anong contract ba yan- mortgage contract -contract to sell -contract of sale - contract of lease, all of them different and distinct from one another.- and if your not well versed in law, halo halo at mag iinterchange yan.

**_Qwerty_** · October 30th, 2014 03:59 PM

Compulsory ang comprehensive insurance during the duration of the loan.. kung gusto mo kumuha sa iba then you have to notify your original insurer otherwise automatic renewal yun. This is for the protection of the bank just in case may mangyari sa car na naka loan.. and correct, renewal notice is mailed at least 1 month before it expires.. so hindi mo pwedeng idahilan na hindi mo alam..

**glenn_duke** · October 30th, 2014 11:14 PM

Originally Posted by _Qwerty_

Compulsory ang comprehensive insurance during the duration of the loan.. kung gusto mo kumuha sa iba then you have to notify your original insurer otherwise automatic renewal yun. This is for the protection of the bank just in case may mangyari sa car na naka loan.. and correct, renewal notice is mailed at least 1 month before it expires.. so hindi mo pwedeng idahilan na hindi mo alam..

Hindi lahat ng insurance company o banko ay nagpapadala ng notice of insurance renewal.

**playplugg** · October 30th, 2014 11:41 PM

Originally Posted by jefskie

tapos na yung monthly namin for 4 years this october 15, nagpadala sila ng sulat na kelangan naming bayaran lahat ng premium insurance dahil hindi ilalabas ang documents kapag hindi nababayaran yung mga hindi namin nabayaran.

first year lang kami nag bayad ng insurance.. yung mga sumunod na taon ay hindi na. obligado ba talaga kaming bayaran yun? kahit hindi naman namin nagamit. for example hindi kami nagbayad ng insurance nung pangalawang taon at nagkaaksidente.. sasagutin ba ng insurance kahit hindi kami bayad?

kaya ang tanong ko bakit pa kami magbabayad ng insurance ngayong tapos na kung hindi naman namin magagamit.

nissan all-in inhouse. thank you po

Sir jefskie,

Every year, kailangan merong Insurance ang sasakyan, either sa in-house or sa outside, importante yan, dahil once na may mangyari na incident/accident/Act of God (wag naman sana) once na hindi ka bayad/expired ang insurance, own risk of expense yan pag na damaged, hindi sasagutin ng insurance po yan.. saka nasa policy yan at the first day na naibigay sa inyo yung sasakyan, lahat ng ruling andoon. kung ano yung cover at hindi covered. saka every year, yung date ng registration ng sasakyan for renewal, dapat merong insurance..

Not a reason na hindi nagagamit ang insurance, kasi it's a "security" in case na worst case scenario, ang babayaran nyo lang is yung participation na agreement sa insurance, either minor damage or total wreck in accident, na-carnap or naabutan ng natural disaster.
(hindi lang sasagutin ng insurance is yung act of war)

andyan lagi ang "risk" sa sasakyan po pag ginagamit.

First 5yrs, comprehensive, pero kung sasakyan nyo po will stay longer sa inyo, kunan pa rin kahit TPL...