• charterpingan
  • standard
  • fpginsurance
  • liberty
  • pioneer
  • mot2
  • oriental
  • asialife
  • paramount

Find the Most Affordable Car Insurance Policy in the Philippines

eCompareMo has put together a list of top car insurance companies to help you save time and money. Your satisfaction is our utmost priority—and as the country’s leading fintech startup for insurance comparison, we work hard to make sure that you get the best protection for your vehicle at a great price.

Insurance ProviderFeatures
Charter Ping An Car Insurance
  • Accepts up to 10-year old cars for new accounts
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • 55 plus accredited repair shops
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AFP Gen Car Insurance
  • Free 24-hour roadside assist program
  • Accepts up to 10-year old cars
  • Free Auto Passenger Accident Insurance of PHP250,000.00
  • 96 plus accredited repair shops
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Standard Car Insurance
  • Free 24/7 Roadside Assistance nationwide
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • Accepts up to 12-year old cars
  • 200 plus accredited repair shops
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QBE Seaboard Car Insurance
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • Free Roadside Assistance Coverage for qualified vehicles
  • Accepts up to 10-year old cars
  • 200 plus accredited repair shops
Request quote
FPG Car Insurance
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • Free 24/7 Roadside Assistance
  • Accepts up to 10-year old cars
  • 242 plus accredited repair shops
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AsianLife Car Insurance
  • Free Towing Assistance up to PHP5,000.00
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • 147 plus accredited repair shops
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Mercantile Car Insurance
  • Accepts up to 10-year old carsh
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • 11 plus accredited repair shops
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Oriental Car Insurance
  • Free Auto Passenger Accident Insurance of PHP50,000.00 each for 5 persons
  • Free Roadside Assistance Coverage for qualified vehicles
  • Accepts up to 10-year old cars
  • 74 plus accredited repair shops
Request quote

What is a Comprehensive Car Insurance

A comprehensive car insurance is a type of insurance that provide financial protection against physical damage or bodily injury resulting from vehicle collision, theft, fire, or any damage that may arise from incidents in a vehicle.

With the growing rate of car accidents in the Philippines, it’s financially wise for every motorist to have a car insurance to protect them against expenses that may arise in the event of an accident.

The mandatory Compulsory Third Party Liability (CTPL) insurance that comes with your LTO registration is not enough. Every Filipino car owner needs a Comprehensive Motor Vehicle Insurance that shields their finances from the following:

  • Own Damage/Theft
  • Excess Bodily Injury or Voluntary Third-Party Liability (VTPL)
  • Property Damage or Voluntary Third-Party Liability (VTPL)
  • Auto Personal Accident (Auto PA)
  • Acts of Nature

Car insurance coverage types

There’s a car insurance cover for every budget and need. Here are the main types of coverage you can avail.

  • Compulsory Third Party Liability (CTPL). The Land Transportation Office (LTO) mandates that all car owners get a compulsory third-party liability (CTPL) insurance upon vehicle registration. Third party refers to any person other than the driver or the passenger that the insured encounters in an accident.
  • Comprehensive Car Insurance without Acts of Nature. A comprehensive car insurance without the Acts of Nature covers an accident caused by vehicular accident, such as collision and overturning, theft, and other malicious acts from a third party.
  • Comprehensive Car Insurance with Acts of Nature. A comprehensive car insurance with Acts of Nature covers all types of accidents including the ones caused by a natural disaster, such as typhoons, earthquakes, wildfires, and floods.

Other types of vehicle insurance are collision protection, liabilities, and uninsured and underinsured motorist coverage. Each one offers additional protection that caters to the special needs of car owners.

Furthermore, many car insurance companies also give you an option to avail add-ons, such as:

  • Loss of use
    Where the insurance provider reimburses the transportation costs while your vehicle is being repaired in the motorshop
  • Roadside and towing assistance
    Some insurance firms offer this as a freebie
  • Transportation allowance
    Get your tranpo costs reimbursed while your car undergoes repair
Feature/BenefitCTPLComprehensive Motor InsuranceComprehensive Motor Insurance with Acts of Nature cover
Own DamageNoneBased in fair market value of the vehicleBased in fair market value of the vehicle
TheftNoneBased in fair market value of the vehicleBased in fair market value of the vehicle
Third Party liability - Bodily InjuryAs mandated by lawUp to PHP1,000,000.00Up to PHP1,000,000.00
Third Party liability - Property damageNoneUp to PHP1,000,000.00Up to PHP1,000,000.00
Passenger personal accidentNoneUp to 18 seats coverageUp to 18 seats coverage
Acts of nature coverageNoneNone
Strikes, riots, Civil commotionNone
Towing service assistance
Ambulance service
Removal of the vehicle
Stay and travel due to breakdown of vehicle
Fuel delivery
Battery boosting or Jumpstarting
Locksmith service
Tire replacement
Legal assistance
24/7 customer assistance

Advantages of having a car insurance

Smart motorists only want the best car insurance policy. Not only to reduce risks of uncertainty and mitigate the cost of repair, but also to avoid headaches when it comes to filing claims. Here are a few reasons why every car owner should get motor insurance:

  • Covers the accident repair costs.
  • One of the advantages of having a vehicle insurance policy in your hands is to keep your wallet safe from unwanted automobile expenses. Your provider shall take care of the body repair and parts repair/replacement in case of damages; or replacement of your vehicle in case of theft, such as carnapping.

  • Aids in paying the hospital bills.
  • Apart from the maintenance and repair of the vehicle, your policy also covers hospital bills. This applies to both the insured party and the third party involved in the accident.

  • Enables you to pay depending on your capacity.
  • Not all Filipinos may be aware that an insurance is actually a means to save rather than an expense, and it’s because of the car insurance premium they have to pay upfront. Luckily, there are several car insurance providers in the Philippines that allow you to pay in installment. A car owner can choose from different payment terms according to their budget.

A number of providers in the Philippines, in fact, offer more perks and free add-ons bundled with their policy. This makes car insurance comparison a wise choice for consumers.

Overall, getting your car insured is recommended because of the following:

  • Efficient, as it decreases the risk of uncertainty
  • Reduces the financial burden due to the losses
  • Gives peace of mind--either your own or someone else’s
  • Serves as a savings and investment instrument

Car insurance requirements and conditions

Once you’ve found an affordable car insurance policy, all you need to do is submit documents that are required by your provider. Take note that not all cars can be insured because the legal status of your vehicle must be clear first.

Here are some of the most common requirements and conditions when applying for a motor insurance:

  • A valid driver’s license and valid vehicle registration
  • Certificate of Registration (COR) with the name of the registered owner. In case the COR is not available, the name of the buyer in the deed of sale should be presented.
  • Address of the owner
  • Brand (e.g., Honda, Mitsubishi, Toyota)
  • Body type (e.g., Fortuner 4x2, Hi-Ace Super Grandia 2.5 DSL)
  • Year Model (e.g., 2014, 2013)
  • Transmission (manual or automatic)
  • Color
  • Plate number
  • Usage of car (either for personal or commercial)
  • The ownership status of the vehicle to be insured must be legally recognized by the law
  • Assurance that the vehicle was not involved or used for unlawful acts

NOTE: Some car insurance providers in the Philippines do not accept cars over 10 years of age (unless for renewal only), and over 8 years old for commercial vehicles (unless reconditioned or certified to be in good running condition)

Check out more about Car Insurance Renewal here

Vehicle insurance sample quotes

Insurance premiums, and the numbers can get overwhelming. To give you an idea of how your coverage is broken down, here’s a sample cost of a car insurance for Sedan type vehicle.

SAMPLE COMPUTATION - SEDAN
Insurance ProviderPROVIDER A
Vehicle TypeSEDAN
Own damage/Theft cover ofPHP562,000
VTPL - Bodily Injury cover ofPHP200,0000
VTPL - Property Damage cover ofPHP200,000
Auto Personal Accident cover ofPHP250,000
Estimated cost of premium (inclusive of taxes)PHP12,000
Total indicative savingsup to 17% savings

Disclaimer: Figures indicated above are for illustration purposes only. Actual prices may vary

Car insurance FAQs

How do I buy car insurance?

Compare premiums, coverages, benefits, and add-ons from more than 20 insurance companies in the country. Complete the necessary documents and wait for your policy to be delivered in as fast as 24 hours.

Check out on How to Apply for A Car Insurance in the Philippines here

How much will my motor insurance cost?

The premium rate of your insurance will depend on the coverage type you choose, year model, and body type of your vehicle. Additionally, your premium will increase if you add riders, such as the personal accident or property damage.

What points should I consider when buying a car insurance?

  • Premium rates
  • Policy coverage
  • Claiming process
  • Company reviews
  • Your monthly income

How much participation fee do I have to pay?

The participation fee depends on the vehicle’s type and market value. For example, for smaller cars, the insured is often charged 0.5% of the vehicle’s total market value. On the other hand, for larger vehicles, one percent of the car’s market value will be charged as participation fee.

What are the documents required for car insurance claims?

  • Duly accomplished Accident Report Form of your insurance provider
  • Copy of Registration Certificate and latest OR
  • Police Report or Driver’s Affidavit
  • Copy of Insurance Policy
  • Pictures of damaged unit (if own or property damage)
  • Pictures of the injured person(s) (if third-party bodily injury)
  • Repair estimation

Check out other Key Things to know about Motor Insurance Claim here

Can I make a claim without a police report?

Yes, provided that the accident is minor and neither of the party is injured.

Guides

How To File A Car Insurance Claim | Car Insurance Coverages and Claims | Compulsory Third Party Liability (CTPL) Coverage | "Acts of God" Car Insurance Coverage: Why Is It Important And How Much It Cost? | What To Do In Case of A Car Accident

What people say about us
eComparemo is rated 4.4/ 5 based on 165 reviews from the past 6 months

rated eComparemo 5 out of 5 on April 29, 2017
Thumbs up to this company! Count on them if you're looking for the cheapest car insurance and participation fee. They even assisted me and gave me instructions when I filed for a claim. A prompt reply and update for the status of claims.