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CTPL Insurance in the Philippines

Everything you need to know about CTPL insurance.

What is Compulsory Third Party Liability (CTPL)?

In the Philippines, a Compulsory Third Party Liability (CTPL) insurance policy is required before any motor vehicle can be registered with the Land Transportation Office (LTO) whether for personal or commercial use. The purpose of requiring CTPL cover prior to registration of the vehicle is to provide protection for the general public. When a CTPL policy is purchased, the assured is given an insurance policy with conditions.

No Fixers or hassle

CTPL is a type of insurance coverage that insures a third-party in the event of an accident. This insurance policy is mandated by the Philippine government for all car owners, regardless of whether the vehicle is for personal or commercial use. Application for CTPL is a prerequisite to the registration of a vehicle with the LTO.

Affordable and simple

The rate of CTPL insurance depends on the type of vehicle you have and the insurance provider you will choose. To give you an idea how insurers compute premium rates, here’s a sample computation of the CTPL premium for every vehicle type.

Kinds of Third Party Liability

There are two kinds of Third Party Liability: Bodily Injury (BI) and Property Damage (PD). In this case, the policy will only take effect if the injury or damage was of course caused by the operation of the insured’s motor vehicle.

Typically, these two are the most claimed liabilities since they most commonly occur. That’s why this is the basic car insurance coverage required for all vehicles in operation.

 

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CTPL sample quotes

CTPL insurance FAQs

Answers to the most asked questions about CTPL insurance in the Philippines

Unlike comprehensive insurance policies in the Philippines, CTPL has a limited coverage since it is chiefly focused on the welfare of the third-party in case of an accident.

Here are some of the benefits provided by a compulsory third-party liability insurance.

  • Death Indemnity - CTPL providers offer a cash benefit of a minimum of P70,000 to the third-party person in case of death.
  • Body Injuries and Fractures - CTPL insurers provide hospital cash benefit to the third-party person in the event of hospitalization. These benefits include hospital and operating rooms, surgical expenses, drugs and medicine, and ambulance service, among others.
  • Permanent Disablement - A cash benefit is provided to a third-party person in the event of dismemberment. Each body part corresponds a certain amount of cash benefit. For example, if the person loses sight of both eyes, he/she can get a cash benefit amounting to P50,000 while if the loss of one eye, the cash benefit will be P20,000.

For a faster and hassle-free CTPL application, here’s a rundown of the application process and a list of the requirements needed when purchasing a CTPL insurance.

Application process:

  • Shop around to identify which insurance provider offers the best price.
  • Make sure that the company you are applying for is accredited by the LTO and licensed by the Insurance Commission. This will ensure that you are paying an authorized insurance provider.
  • When you are done comparing prices, complete the necessary requirements and submit it to your chosen insurance provider. Ensure that you completely fill out the essential fields in the application form as this will speed up your application.
  • Wait for the confirmation of your policy application.

Requirements:

  • TIN number
  • Vehicle details:
    • Brand
    • Manufacturing year
    • Model or series
    • Vehicle color
    • Chassis number
    • Engine number
    • Plate number/conduction number
    • MV File number
  • Premium payment

The third party refers to any person other than the passenger and the driver that the vehicle encounters in an accident.

  • Death indemnity
  • Funeral and burial expenses
  • Bodily injuries and fractures
  • Permanent disablement

The premium for CTPL may vary depending on the type of the vehicle, insurance provider, and how long the coverage is. For example, the premium for private cars range from P600-P650 while the rate for trucks starts at P1,200-P1,300 for a one-year coverage.

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