Some few months ago I bought a new car that could carry seven (7) passengers including the driver. Prior to sale of the unit the agent who attended my queries relative to my preferred unit.
During our initial discussion she did mentioned about some important freebies such as; free comprehensive insurance coverage, and the premium for car registration is free for three (3) years.
Week after our series of meetings she tells me that my insurance coverage for the unit is comprehensive meaning it covers; against third party damage, and bodily injury, own damage, and auto passenger accident coverage but she failed to discuss the amount of coverage.
Because of my trust and confidence on the agent I complied and completely submitted all the documents required by the car dealer and just a week after our dealings they have released the unit to me.
Upon releasing of the unit from the casa I begun to notice that something was not right because my insurance policy was not handover nor included prior to releasing of the vehicle, the agent have approached explaining to me that my motor car insurance policy will be released soon including the car registration documents I waited for more than a month for those documents until it arrived.
Upon checking my motor car policy i noticed the property damage is only Peso 100,000.00 which is very small amount of coverage in which the total value my vehicle is almost 1,000,000.00 my worry since that accident is unpredictable as the weather in the event of loss of more than 100,000.00 the excess will be shouldered by the car owner.
The should explained to me about the details and full Coverage of my motor car policy because protection against third party damage should not fall below Peso 400,000.00. I don't know about their strategy but its a kind of tricking and disgusting.
Is there anyone here that could provide me some pieces of advice?