Posts Tagged ‘Force Majeur’
Standard Insurance Advisory on Force Majeur or AOG for vehicles.
After the Ondoy and Pepeng typhoons, a lot of articles have been posted regarding Force Majeur or Acts of God as a guide for the victims. Car Dealerships and 3 star motor shops are now also flooded with customers which is good for their industry.
The leading motor car insurance company, Standard Insurance Co.,Inc have been very active lately with their marketing campaign in line of providing fair service to their assured. Last Monday, they posted an Ad with Philippine Star that highlighted their branches and dealer tie ups for reference. They also mentioned that they are also accepting Act of God Coverage starting October 15, 2009 which was suspended temporarily after the typhoon to give way for the immediate processing of claims “with” Force Majeur coverage at the moment.
Here is the clipping.
paid ads by standard insurance.
However, last Thursday, October 22, 2009, an article in Philippine Star made a confusion to a lot of their assured customers both with AOG and without.
Personally, after my client informed me about the article, i immediately went out to buy the newspaper and called my issuing branch if this is true. However, Mr. Romy Manucom of Caloocan Branch said: “We had a meeting with the head office regarding this article and our CEO was misquoted by the reporter, it was the same article that was also posted at GMAnews.TV the other day. The newspaper company promised us that they will correct this publicly the following day.”
It really gave a lot of confusion to the general public, even me. I really felt bad for my clients who were affected by the typhoon without the Acts of God rider, after knowing of this false article from a text, i immediately texted some of my clients and informed them of the good news, not knowing it was a false one!
This is the article on the today’s Philippine Star, October 23, 2009 that will clarify the false article from yesterday.
I hope this blog will help everyone with problems with ACTS of GOD.
For more info, please call us at 7245140 or email me at richard@insuranceexperts.ph
Links regarding Acts of God rider.
Since Insurance is in the Hot Seat this time of the crisis. Lots of Insurance companies are already explaining the real meaning and cost of the most famous insurance rider now, the Acts of God or Force Majeur. Please see this link from Inquirer.net: Is your flood-damaged car insured?
After reading the link, the figures given does not include Vat, Local Government Taxes and Doc Stamps.
I really wonder how others can give this expensive rider for free without any catch? hmm…something fishy?!
More links re acts of GOD. 1. Motorist Cope with Acts of God from philstar.com
Insurance 101- How to claim from your Insurance.
First, I would like to wish you all well! After cleaning up the mess that the Ondoy brought us, here are some of the few To do’s on how to claim with your insurance.
First, please check your insurance policy if your property is covered with Acts of God or Force Majeur. If you don’t have your insurance policy with you, you may call your agent, broker or respective insurance company and state your Name and your property insured. Remember to please bear with your Insurance companies since the entire nation is suffering from the disaster.
Once you already confirmed your Policy, please prepare the FF: 1. Insurance Policy (if present) 2. Official Receipt 3. Notarized Sworn Statement (include the estimated damages), pictures if possible. Submit them as soon as you have completed. Please be wary again that claims this time around will take some time compared to a normal state. Please be aware that Typhoon and Flood rider in all Fire policy has a participation of 2% of the actual value of the loss.
If your car is submerged in the water and you have Act of God Rider, please don’t start the engine, make sure to change motor oil, transmission oil, oil filters, fuel, fuel filters or better yet ask for a professional mechanic to save your cars engine first. Then you can have your cars towed to your service centers. Claim requirements are 1. Insurance Policy(if present) 2. Official Receipt (if present) 3. Notarized Affidavit 4. Pictures. Once completed, please submit to your insurance agent or brokers.
Acts of God is an additional rider for Car Insurance policy. It is not always included and it should be requested from your insurance agent with additional premium. However, there are a number of car dealers, agents who offer this rider for free as a come on for customers. I am just really not sure if these free AOG will be granted at this time of crisis. Hopefully, they should. Please be practical nowadays that nothing is free, one way or the other, there is always a catch on freebies.
I just got a call today from Standard Insurance that Acts of God coverage for cars will be temporarily not available for sale until they finalized the total losses incurred in the calamity. I am not sure with the other insurance company if they will do the same.
Hopefully this blog can help you in some other way.
For extended assistance, you may call Insurance Experts @ 7245140. You may look for Richard or Kristine.
