Save money from Auto and Car Insurance

. Wednesday, February 24, 2010

While I do check that if we can afford it, we should Learn insured in readiness for case something 'bad' or 'unexpexted' takes place. Still, not all matters are worth getting covered for.

Learn for example auto insurance. Its an absolute must to acquire a automobile insurance when buying a brand new car or a luxury vehicle in case of stealing or serious damage.

But if you're having a second hand auto valued less than 300,000 pesos I dont consider that paying for that unit's insurance is worth the value.

Usually when an incident happens to your car. You bring it to the car shop to be fixed and to estimate the cost of repairs. Or you could bring it to your automobile service station.

Depending on your selected auto insurance policy provider. Most automobile insurance party will simply cover the amount in excess of 5k to 10k pesos. Which is gloriously unfair and is one of my biggest gripes about paying for insurance policy.

For example, if your car insurance policy cover's only damage in excess of 10k pesos. And if the cost to have your automobile set is below 10k, you dont get paid by the insurance agency. If it cost you 12k pesos to fix, the insurance agency will only pay you the 2k pesos. You shoulder the 10k pesos aside from the yearly premiums that you pay.

Ofcourse, there are exceptions to this. If you're livelihhod looks on your car like privately owned taxicabs, school and shuttle services or delivery vans for your pick up trucks like the popular mitsubishi L300 and the kia ceres. Getting an insurance will probably give you the peace of mind incase of theft. But the value of the vehicle should be taken into consideration before getting the insurance you think you might need