08/11/2025
NABAHA BA YUNG KOTSE MO? -- DI KAYA INANOD KUNG SAAN?...TAPOS DI MO PA TAPOS BAYARAN?
SCENARIO 1: Car submerged in flood, still under car loan
1️⃣ so technically, you don’t fully own the car yet
so the car is still under the bank or financing company’s name (you’re the registered owner, but the bank holds the chattel mortgage).
MEANING: even if it’s damaged, you still need to continue paying the loan unless declared a “total loss” by your insurance.
2️⃣ if you have COMPREHENSIVE INSURANCE
BEST CASE: file a claim immediately.
if the insurer declares it TOTAL LOSS, they’ll pay the fair market value of the car to the bank...the bank will then close your loan account, and any excess (if any and if your lucky) may be given to you...you might still need to pay any remaining balance if the insurance payout is less than the loan amount (depends on your policy and remaining amortization).
IF REPAIRABLE: the insurance will cover repairs and cleaning (subject to deductible and depreciation), and you can keep the car.
3️⃣ if you don’t have COMPREHENSIVE INSURANCE...
sad to say, you shoulder all repair costs, cleaning, and loan payments...
you can’t just “abandon” the car the bank can still collect payments or repossess it.
some banks may allow restructuring or deferment, but that depends on their discretion...so try to talk to them...
SCENARIO 2: Car is already FULLY PAID, but flood-damaged
1️⃣ YOU FULLY OWN IT
No more obligation to a bank. The issue is now just repair and recovery.
2️⃣ if INSURED (comprehensive):
You can file a claim for FLOOD DAMAGE (“acts of nature” coverage if ever you have this)...
the insurance company will assess:
IF REPAIRABLE: they’ll shoulder most of the cost.
IF TOTAL LOSS: they’ll pay the car’s market value, and you can decide whether to keep or surrender the wreck.
3️⃣ if not insured or only has TPL (THIRD PARTY)
unfortunately, NO COVERAGE...
you’ll pay out of your pocket for all repairs and detailing (which can cost roughly mga ₱50k–₱200k+ yun jan sa PINAS...depending on water level and duration submerged)..
typically FLOOD DAMAGE can ruin:
- Engine
- ECU / sensors
- Transmission
- Electrical wirings and interiors
MY PRACTICAL ADVICE 💡💡💡
- DO NOT START THE AFTER FLOODING...it can worsen the damage...
- NOTIFY insurance immediately (if ever you have it)...
- TAKE PHOTOS BEFORE MOVING THE VEHICLE (kahit nasa kabilang kalye pa yan at inanod...)
- CHECK for “Acts of Nature” coverage on your policy since some policies don’t include it by default...so try to inquire about it...
if ever you have no insurance and still under loan, CONTACT YOU BANK IMMEDIATELY...try to explain the situation...some may allow restructuring or payment relief...
so since nasa PINAS tyo...at BAGYUHIN...for FUTURE PROTECTION: include "ACTS OF NATURE" in your policy...lalo na ung mga nasa flood-prone areas...
un lang di mo masasabi kung saan ang flood-prone ngayon...basta kumuha ka na lang just incase..
"You’ll never realize how fragile things are until you see what you’ve worked hard for submerged in water.
But thank God for life, for safety, and for the reminder that material things can be replaced...faith and family cannot. 🙏🚗💧"
