Car Insurance Depreciation clause

[parkier]

Hi, question guys,

If na hit car mo and it's already 4 years old. Totoo ba na the
insurance company will replace the spare parts plus you having
to shoulder 25% of the rest of the cost. Meaning if your
bumper is damaged and it costs 16,000. You have to
pay 4,000 even if you are insured up to say 500,000
in addition to the deductible?? Or if the damaged part
costs 100,000. You have to pay 25% of it or 25,000
due to depreciation of your car (kasi they will give
you new spare parts). I saw this in the bpi/ms clause
and want to verify if this is what they meant. Ganyan
rin other insurance companies?

Thanks.

[redchip]

hi. always remember na every year ka din nagre renew. so updated ang market value ng car. you only pay participation if accidents happen. you might mean na pag you declared your car under value, dun pumapasok yun extra pay.

[warlocke]

Usually may depreciation talaga if brand new yung parts na bibigay (i think reasoning dito is di na naman brand new car mo so you'll have to pay depreciation)...yung akin dati surplus lang pinalagay ko so no depreciation (siyempre luma na rin kinabit na parts he he)...i guess you'll have to check kung may option yung insurance na bigyan ka ng surplus parts