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Home & Garden Home owners insurance

Discussion in 'Businesses - Services - Products' started by Milowood, Sep 7, 2021.

  1. Milowood

    Milowood DI Junior Member Veteran Army

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    I have been trying to get insurance for the home my wife and I own here. We have received several quotes from major companies and I find the fine print leaves lots of room for not paying claims. I have discussed this issue with homeowners nearby who had losses during thee TAAL eruption and none had claims paid. Has anyone had positive experience with a insurance company on claims and if so which company.
     
  2. you_have_been_removed

    you_have_been_removed DI Member

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    ain't no insurance company in the WORLD going to pay out for losses due to volcanic activity, the only people with a positive experience is the insurance company themselves
     
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  3. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    I seem to recall my car insurance saying they didn't cover volcanic or nuclear bomb damages as well.
     
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  4. God Bless Texas

    God Bless Texas DI Member

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    No luck here either. When we looked for insurance
    1 company would not offer even a quote because we are on a shoreline
    2nd company would only cover storm damage if it was a named storm ... habagat and regular LPA wind and rain is not covered.
    In the end we figured it is better just to put money aside and save it for emergency.
    Also asked other friends/family and they too agreed that home insurance here is pointless.
    Side note...keep in mind this is a country where vehicle insurance is only required 1 or 2 days a year, for registration, and is sold by specific dealers for LTO to approve. Any comprehensive insurance is up to you.

    In short, property insurance here is only for peace of mind...till you need it...then it is a nightmare.
     
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  5. SkipJack

    SkipJack DI Senior Member

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    Marine insurance is the other way around. It does not cover named storms. Named storms is a threshold for the more expensive level of insurance.

    If you are worried about flooding, probably best to build a structure that can easily survive a flood. Concrete construction, no carpeting downstairs, etc.

    Liability issues do not appear to be a big issue here. The only worry I see is running into an expensive car.
     
  6. DAVE1952

    DAVE1952 DI Forum Adept Showcase Reviewer

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    I have no comment to make here on Home insurance, but a timely warning to give regarding safety in the home, very few people here have smoke alarms and that includes many of the Foreigners I have asked? I had one sent over from UK In a B/box it was so cheap less than P1000, recommended by the Which Magazine and it performed better than the Honeywell at twice the price, Fire Angel is the brand and comes with a 10 year lifetime sealed battery pack, which is going to outlast most of us old Coffin Dodgers, I know of two houses where one Foreigner died when his furniture went on fire and another where the house was gutted and the occupants narrowly escaped death, both did not have smoke alarms.

    I bought an 18 month old car 3 years ago in Cebu it is a Honda and the Honda Dealer Garage wanted around? P35K for insurance, but while we were waiting for the fixed actual quote we were in our Bank the BPI and I asked if they did motor insurance, they did and they come back to me with a price for fully Comp of P15K and an upgraded Policy that covers all natural disasters? Floods, Typhoons and even a coconut falling from a tree this was P20K, after two years this has come down to just under P17K as the car gets older.
     
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