Insurance Claims for Sendong Victims

Pag-IBIG Borrowers may file Insurance Claims for Properties affected by “Sendong”

VICE PRESIDENT Jejomar Binay, who is also Chairman of the Pag-IBIG Fund Board of Trustees, declared in his recent visit to Cagayan de Oro and Iligan that Pag-IBIG housing loan borrowers whose mortgaged properties were structurally damaged or affected by typhoon “Sendong” may claim insurance on their properties.

Affected members are advised to file their claim for fire and allied perils insurance at the nearest Pag-IBIG Fund Branch office, according to Pag-IBIG CEO Darlene Berberabe. Pag IBIG will assist its members claim from the insurance companies that insured their property, Berberabe added.

Insurance claims are subject to the terms and conditions of the insurance company and shall be processed upon the submission of all required documents. Requirements include: application of insurance, sworn statement of formal claim, non-waiver of agreement, cost of damages, bill of materials, and, in case of total loss of property, a statement signed by architect or engineer. The forms for the first three requirements may be requested from the branch or operating unit where the loan was made, or may be downloaded from the Pag-IBIG Fund website at www.pagibigfund.gov.ph. The cost of damages and bill of materials may be prepared by a licensed engineer or architect.

As part of the requirements, affected borrowers are advised to submit photographs of the housing units showing the portion with structural damages.

In case of partial damage, net insurance proceeds amounting to less than or equal to P50,000 shall be subject to one-time release. Amounts in excess of P50,000 shall be subject to inspection and assessment of the Fund.

For more information, borrowers may visit the Pag-IBIG Cagayan de Oro Branch located at J.R. Borja St., Cagayan de Oro City or call telephone numbers (08822) 722800, 726348; (088)856-1860(61). Likewise, can coordinate with the Iligan Branch with office located at Gimeno Building IV, Tubod Highway, Iligan City. Pag-IBIG Iligan may be reached at (063) 221-2263, 221-3199 or 221-0123.