Whereas I do agree that if we will afford it, we should always get insured in preparation for incase one thing 'dangerous' or 'unexpepted' happens. Nevertheless, not all issues are value getting insured for.
Take for instance automobile insurance. Its an absolute should to get a automobile insurance when shopping for a model new automobile or a luxurious car in case of theft or critical harm.
However should you're getting a second hand automobile value lower than 300okay pesos I dont suppose that paying for that unit's insurance is value it.
Usually when an accident occurs to your automobile. You’re taking it to the 'talyer' to be mounted and to estimate the price of repairs. Or you possibly can take it to your automobile service station.
Relying in your chosen automobile insurance supplier. Most automobile insurance firm will solely cowl the quantity in extra of 5k to 10okay pesos. Which is fairly unfair and is one among my biggest gripes about paying for insurance.
For instance, in case your automobile insurance coverage cowl's solely harm in extra of 10okay pesos. And if the associated fee to have your automobile mounted is under 10okay, you dont receives a commission by the
insurance company. If it value you 12okay pesos to repair, the insurance company will solely pay you the 2k pesos. You shoulder the 10okay pesos away from the yearly premiums that you just pay.
Ofcourse, there are exceptions to this. In case you're livelihhod is determined by your automobile like privately owned taxis, faculty and shuttle providers or supply vans in your decide up vehicles like the favored mitsubishi L300 and the kia ceres. Getting an insurance will in all probability provide the peace of thoughts incase of theft. However the worth of the car needs to be considered earlier than getting the insurance you suppose you may want.