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  • Ara (Ababon, Cherryl Mae Pagente)

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    Mae Ababon
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    This document outlines an automatic renewal agreement for vehicle insurance. It provides details of the client such as their name, address and vehicle information including the make, model, and vehicle identification numbers. The agreement specifies that the vehicle insurance will automatically renew each year for the duration of the loan unless the insurance provider informs the client otherwise. It also details the insurance premiums due each year of the loan along with applicable taxes. The client agrees to the terms of the automatic renewal for insurance coverage on the vehicle.

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    This document outlines an automatic renewal agreement for vehicle insurance. It provides details of the client such as their name, address and vehicle information including the make, model, and vehicle identification numbers. The agreement specifies that the vehicle insurance will automatically renew each year for the duration of the loan unless the insurance provider informs the client otherwise. It also details the insurance premiums due each year of the loan along with applicable taxes. The client agrees to the terms of the automatic renewal for insurance coverage on the vehicle.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    3 views1 page

    Ara (Ababon, Cherryl Mae Pagente)

    Uploaded by

    Mae Ababon
    This document outlines an automatic renewal agreement for vehicle insurance. It provides details of the client such as their name, address and vehicle information including the make, model, and vehicle identification numbers. The agreement specifies that the vehicle insurance will automatically renew each year for the duration of the loan unless the insurance provider informs the client otherwise. It also details the insurance premiums due each year of the loan along with applicable taxes. The client agrees to the terms of the automatic renewal for insurance coverage on the vehicle.

    Copyright:

    © All Rights Reserved
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    AUTOMATIC RENEWAL AGREEMENT

    Client Information:
     Name : ABABON, CHERRYL MAE PAGENTE
     Residence Address : BLK 9 PUROK NORCUS POBLACION
    POLOMOLOK SOUTH COTABATO
     Email Address : ababonmae@gmail.com
     Contact No. : 0912-157-4474

    Complete Vehicle Description:


     Model : 2022
     Make : MG 5 1.5L CORE CVT
     Color : LASER BLUE
     Plate # / CS # : W0Q542
     Motor/Engine# : 15S4C1GGLB230483
     Serial/Chassis# : LSJA36E35NZ010946
     Vehicle Selling Price : P 768,888.00
     Inception Date : MARCH 25, 2022 – MARCH 25, 2027

    It is understood and agreed that as part of the conditions of “CBS Free First Year Motor Insurance
    Promo”, the coverage of the vehicle insured, as stated in the policy schedule, shall be automatically
    renewed upon expiry with the PEOPLE’S GENERAL INSURANCE CORPORATION for the
    duration of loan term unless or until the assured is informed by PGIC at least forty-five (45) days
    prior to expiry, in writing, that the coverage for the insured vehicle cannot be renewed based on
    guidelines and conditions of PEOPLE’S GENERAL INSURANCE CORPORATION.

    In the event the borrower terminates the loan at an earlier date, the client will pay the whole insurance
    premium of the first (1st) year.

    The applicable premiums during the loan term are as computed as follows:
    Limit of
    Particulars PREMIUM DUE
    Liability
    OD/Theft 768,888.00 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5
    (2022) (2023) (2024) (2025) (2026)
    VTPL-BI
    VTPL-PD
    Acts of Nature
    Total Premium
    VAT
    DST
    LGT
    TOTAL FREE 21 1 18,
    AMOUNTDUE ,857.36 9,916.56 169.84 16,597.79

    The content of this Form has been fully explained to me. I agree to the terms and conditions stated
    above.

    The foregoing Automatic Renewal Agreement on the insurance cover requirement hereby supersedes
    and replaced the PROVISION NO.4 of the relevant Chattel Mortgage Agreement.

    Assured: ABABON, CHERRYL MAE PAGENTE


    _____________________________
    Signature over Printed Name/Date

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