Is this right? Casa estimate, car dent repair!woah

[Mguy]

1. Kung ikaw ang binanga, hingiin mo ung full cost of repair sa operator ng jeep
2. Pero kung ikaw ang me kasalanan, ung 7k mo ba e walang part na papalitan? ask mo ung SA mo kung bakit ganyan kataas ung participation.

Actually, na hit and run ako na di ko napansin.

that doesn't sound right. participation fee is 3.5 at most.. unless.. they think they have to paint a second panel, like the bumper or the door, hence the 2X participation fee. in which case, you have to stand your ground, that it's only one accident that we are talking about.
but kung ayaw mo na ng hassle, dun ka na lang sa talyer..

As stated in the insurance contract, my participation is 1/2 of 1% of the value of the car. So, value of the car is 1.4M. 1% is 14K. 1/2 is 7K.

[Manilablock]

As stated in the insurance contract, my participation is 1/2 of 1% of the value of the car. So, value of the car is 1.4M. 1% is 14K. 1/2 is 7K.

Nakausap mo na ba ung Insurance Agent mo?

Kung tama talaga yan computation, sa renewal ng insurance mo hingi ka ng quote sa iba, dis-advantage ka dyan sa current insurer mo.

[jhnkvn]

Well, competition-aside.. there's really two methods on how the insurance company will cover their losses.

1. Through your premiums
2. Through your participation fee

Inverse yan usually.. those with lower premiums have higher participation fees while those with low participation fees have bigger premiums. What is better should depend on your driving style -- 3 years collision/dent-free? Then the lower premiums would be ideal. Have a accident-prone sibling who's just starting his daily drive? Go for the bigger premiums.

Your insurance company takes these into account din naman on their profitability calculations. They'll try to minimize their losses while adding to their insurance float. Parang consumer banking loans lang yan where the longer duration loans have a bigger interest payment total. This is because they provision for future defaults. As with real life, a 5-year IOU has a bigger chance of non-performance than a 1-year IOU.

[Mguy]

Well, competition-aside.. there's really two methods on how the insurance company will cover their losses.

1. Through your premiums
2. Through your participation fee

Inverse yan usually.. those with lower premiums have higher participation fees while those with low participation fees have bigger premiums. What is better should depend on your driving style -- 3 years collision/dent-free? Then the lower premiums would be ideal. Have a accident-prone sibling who's just starting his daily drive? Go for the bigger premiums.

Your insurance company takes these into account din naman on their profitability calculations. They'll try to minimize their losses while adding to their insurance float. Parang consumer banking loans lang yan where the longer duration loans have a bigger interest payment total. This is because they provision for future defaults. As with real life, a 5-year IOU has a bigger chance of non-performance than a 1-year IOU.

Actually its a package deal yun insurance ko at yun car loan sa BPI. This is my second 'accident' after 4 years of owning the car. The first claim I did was a sandwich which crumpled by front and rear bumper and paying 7K was really worth it kasi ang mahal ng singgil ng CASA. And yes, mas mura nga premium ko compared with others.

But going back to the issue kung CASA or talyer ka papagawa. I think the wisdom of jhnkvn is an economical solution. Kung maliliit lang naman ang bangga, go to a trusted talyer with good reputation and workmanship. If it is a major work, with panel replacements, plastic and rubber replacements, lens replacement, better have it done sa CASA and through your insurance.

[dr. d]

your description of your damaged fender leads me to think it's just a generic dent. in which case, it should not require specialized knowledge on the part of the latero and pintor, only honesty.
and it appears to me, you're not in dire financial need. that being so, the choice is entirely up to you. like what the other guy said, which do you trust more?