Find the Most Affordable Car Insurance Policy in the Philippines
Did you know that 79% of road crash fatalities are caused by driver error? With the growing rate of car accidents in the Philippines, it’s no secret that every car owner should have a car insurance to protect against the possible costs in the event of an accident.
Aside from the compulsory third party liability (CTPL), a comprehensive motor vehicle insurance coverage can cover you and your loved ones or the goods being transported containing your business’ bread-and-butter cargo. Stay on the road without any worries. Accidents are unexpected, but some just can’t be avoided. Protect yourself, your passengers, your vehicle, and others when on the road. Find the most affordable car insurance quotes in the Philippines and enjoy fast, secure, and hassle-free application through eCompareMo.com.
Drive on safer roads
In general, car insurance companies have the main benefit of putting the financial position of the insured in order to return to the time before there is a loss. In addition, the benefits and advantages of a car insurance can also reduce the risk of uncertainty, reducing the financial burden due to losses obtained suddenly, giving the feeling of security, and many other benefits.
Car insurance also provides expansion such as legal liability to third parties and passengers for protection against strikes, riots, civic commotion, and natural disasters or acts of nature, among others.
Insurance companies are selling a service, then the best service is the key. Because of this, some top car insurance company in the Philippines currently provide and equip additional profitable services. In addition, vehicle insurance also has several advantages, namely:
- 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
- Serves an investment instrument, and more discipline of saving
How to Apply for a Car Insurance Coverage?
Not everyone can apply for a car insurance in the Philippines, because there are several requirements that you must have at the time of application. Not all cars can also be insured, because the legal status of the vehicle must be clear. Here are some of the most common qualifications you must have:
- Valid driver’s license and valid vehicle registration
- The ownership status of the vehicle to be insured must be legally recognized by the law
- Vehicle was not involved or used for unlawful acts
- Some car insurance companies 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)
Owning a car insurance policy is very important in providing protection to you and your vehicle as well as preventing losses due to accidents and other unforeseen events. When applying for vehicle insurance, you need to present several documents that are required by car insurance providers. Some of the most common requirements demanded by insurance compnies are the following:
- Name of the registered owner appearing in the Certificate of Registration (COR). In the absence of COR, the name of the buyer in the deed of sale
- Address of the owner
- Make (whether Toyota, Honda, Mitsubishi, etc.)
- Body type (Fortuner 4x2, Hi-Ace Super Grandia 2.5 DSL)
- Year model (2014, 2013)
- Transmission (manual or automatic)
- Plate number
- Usage of car (either personal or commercial)
List of Car Insurance Companies Philippines
Accidents can happen to anyone regardless of how pro you are when it comes to driving. Taking a car insurance policy is the best way to manage danger. Its main purpose is to protect you from any unexpected expenses in case your car gets involved in any road accident, or your vehicle has been damaged or stolen. The extra protection provides you peace of mind every time you are driving. Here is the list of car insurance provider in the Philippines:
- Charter PingAn Car Insurance
- Mapfre Car Insurance
- Pioneer Car Insurance
- Standard Car Insurance
- Liberty Car Insurance
- Fortune Gen Car Insurance
- QBE Seaboard Car Insurance
Types of Car Insurance Coverage:
- Compulsory Third Party Liability (CTPL)
- Comprehensive Car Insurance—without Acts of Nature
- Comprehensive Car Insurance—with Acts of Nature