A Look At The Procedure Of Claiming On Car Insurance Policy In The Philippines

LOA insurance is very important when you are claiming on car insurance policy. During this period, you need to prepare your claims documents. It is very crucial that you complete the checklist before submitting  it to  your agent or broker, or the insurance provider. Submitting incomplete documents can cause delays, which is something that you clearly do not want to see happen.

For the record of the claims department for all Filipino car insurance companies, the first day starts upon the  submission of complete claims documents . Among the most important documents that you should prepare are  photocopies of relevant documents,  which include  insurance policy  and its official receipt,  driver’s vehicle,  vehicle OR, CR  and so on. You also need to provide a police report or an affidavit of the accident, photos of the vehicles insured and a repair estimate.

Once you have submitted the required documents, a good claims adjuster working in a reputable insurance company should be able to settle the claim in a day or three. The duration of the settlement process  can vary depending  on the complexity of the claims. There are some claims that can take weeks, or even months to settle.

In case of a carnapped vehicle, you are  supposed to report the incident to  Camp Crame and the wait for at least three months  to get a certificate of no recovery. In third party related claims, you need to submit a certificate of no claim.

After the Letter of Authority (LOA) has been released,  you can go ahead and take your car to an auto repair shop or dealer to start the  work. There are some claims that can be settled in cash.

For more information on the procedure of claiming on car insurance policy in the Philippines, visit our website at https://ichoose.ph/blogs/claim-car-insurance-policy/