M. Hayao-Batoy Insurance Services

05/06/2026

05/06/2026

📍Solon Building, Barangay Lower Langcangan, Oroquieta City

05/06/2026

You Still Owe the Bank. Even if your car is totally wrecked or underwater, the loan doesn’t magically disappear. Your loan is a separate legal obligation, you borrowed money, and you still owe that amount until it’s fully paid. The bank doesn’t care if the car drowned, burned, or flew away; the contract stays alive.

If your vehicle is under financing, it’s usually required to have Comprehensive Insurance with Acts of Nature (AON) coverage.
Here’s what happens next:

You file the claim for flood damage. The insurance company pays the bank directly (since the car is the collateral). If the claim amount is equal to or higher than your outstanding balance, your loan is considered settled.

If the claim is less than what you owe, you’ll have to pay the remaining balance out of pocket.

Example:

You owe ₱500,000 on the car.
Insurance payout = ₱450,000.
You still need to pay ₱50,000 to the bank.

Bad news: the insurance won’t pay for flood damage, so the bank will still demand payment for the loan balance.

You’ll either: Keep paying the loan while your car sits totaled, or Try to negotiate a loan restructuring or repossession agreement (so the bank can sell what’s left of the vehicle).

What You Should Do Now

1. Contact your insurance company first, verify if your policy includes Acts of Nature.

2. Notify your bank immediately, tell them about the damage and that you’re filing an insurance claim.

3. Don’t stop paying unless the bank confirms your claim is approved and settlement is in process.

4. Keep all receipts, photos, and reports, the bank will likely ask for proof of loss.

The insurance pays for the damage, but you remain liable for the loan until the bank gets fully paid.If the insurance payout clears your debt, good, loan closed. If not, the remaining balance is still on you.

CCTO

15/10/2025

📢 Announcement ‼️

In observance of Oroquieta City Fiesta, our office, M. Hayao-Batoy Insurance Services, will be closed on October 16, 2025 (Thursday).

We will resume regular business operations on the next working day.

Wishing everyone a safe and joyful celebration! 🎉🥳

See you on Friday! 🥰☺️

15/10/2025

📢‼️‼️

In line with the upcoming Oroquieta City Fiesta,
M. Hayao-Batoy Insurance Services will operate on a half-day schedule today, October 15, 2025 (Wednesday).

We will be open until 12:00 noon only.

Thank you for your continued support and understanding. ❤️🫡

01/10/2025

✨ Hello, October! ✨

A brand-new month means new opportunities, new beginnings, and new chances to secure what matters most. 💼🏡🚗
Here at 𝓜. 𝓗𝓪𝔂𝓪𝓸-𝓑𝓪𝓽𝓸𝔂 𝓘𝓷𝓼𝓾𝓻𝓪𝓷𝓬𝓮 𝓢𝓮𝓻𝓿𝓲𝓬𝓮𝓼, we’re ready to serve you with trusted protection and reliable service.

💌 For inquiries, contact us at 09197815346 / 09561331977 / 09636376895 or message us here on Facebook.

30/09/2025

DID YOU KNOW? 💡

Non-life insurance policies are usually renewable every year? 📅

Unlike life insurance, which can last for decades, non-life insurance works on an annual basis—whether it’s for your car, home, or business. 🚗🏠💼

That means you get the flexibility to update your coverage regularly, making sure your protection always fits your current needs. ✅

At M. HAYAO-BATOY INSURANCE SERVICES, we’re here to help you choose and renew the right coverage so you can live with peace of mind, year after year. 🌟

29/09/2025

Dear clients, we are always ready to serve you at our office located at Solon Building, Ceniza St., Lower Langcangan, Oroquieta City, Misamis Occidental. 💼✨

Your trust inspires us every day — and we’re just right here whenever you need our services. 💙

📲 Reach us at: 09197815346 | 09561331977 | 09636376895

06/09/2025

Q and A