PIA Press Release
Monday, January 02, 2012
VP Binay says Pag-IBIG borrowers can file insurance claims for properties affected by “Sendong”by Lorry V. Gabule
ILIGAN CITY, Lanao del Norte, January 02 (PIA)—-Vice President Jejomar Binay who is also Chairman of the Pag-IBIG Fund Board of Trustees, said Pag-IBIG housing loan borrowers whose mortgaged properties were structurally damaged or affected by typhoon “Sendong” may claim insurance on their properties.
During his recent visit in severely hit cities of Iligan and Cagayan de Oro, Binay said affected members are advised to file their claim for fire and allied perils insurance at the nearest Pag-IBIG Fund Branch office.
The Vice President has instructed Pag IBIG Chief Executive Officer Darlene Berberabe to assist its member’s claim from the insurance companies that insured their property.
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 (3) 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 Iligan Branch with office located at Gimeno Building IV, Tubod Highway, Iligan City, with telephone numbers (063) 221-2263, 221-3199 or 221-0123 or at the Pag-IBIG Cagayan de Oro Branch located at J.R. Borja St., Cagayan de Oro City with telephone numbers (08822) 722800, 726348; (088)856-1860(61). (Pag-IBIG Iligan Branch/PIA-10 LDN)