• Types of Car Insurance in the Philippines

    What is Car Insurance?

    Car Insurance is a policy that provides financial protection to vehicle owners in case of an accident. When people purchase a car insurance policy, they get into an agreement with their insurance policy provider. As per this agreement, they agree to pay a yearly premium to the insurance company and the company in turn agrees to protect them in case any damage is caused to their car, to the driver and to any third person who was injured by their car. Apart from this, car insurance policies provide coverage for other things as well. While purchasing the policy, vehicle owners can choose what things they want their car insurance policy to cover.

    Types of Car Insurance

    • Comprehensive Coverage
    • Liability Coverage
    • Personal Injury Protection
    • Collision Coverage
    • Rental Car Insurance

    Types of Car Insurance coverage

    • Own Damage or Theft
    • Auto Passenger Personal Accident
    • Act of God
    • Compulsory Third Party Liability
    • Voluntary Third Party Liability or Property Damage
    • Voluntary Third Party Liability or Excess Bodily Injury

    How to file a claim for car insurance?

    The car insurance claims process differs from company to company. Some points that are common for all the insurance companies in Philippines are as follows –

    • Car owners should inform the insurance company immediately in case they want to file a claim on their car insurance
    • Submit the claim form
    • Submit certain documents such as –
      • A copy of the car insurance policy and premium payment receipt
      • Photos of damages caused to the car. It should include photos of the license plate, the whole car with the license plate
      • A copy of the driver’s license
      • Estimate of repairs
    • Car owners should not accept any responsibility or signs anything without permission from their insurance company

    Once they file the claim, the company will take some time to process and settle it.

    Checkout Guide to filing a Car insurance claim

    Things to consider while purchasing car insurance policy in Philippines

    • Low rates does not mean good policy – Just because the rate of a particular car insurance policy is low, it does not mean that the policy is good. What people need to do is give importance to the coverage provided by the policy rather than its rate. Apart from this people should research on the insurance provider and read the terms and conditions of the car insurance policy before purchasing it.
    • Look for what’s really needed – While looking for car insurance policies in the Philippines, people should see what is being offered and then decide if they need everything that is included or only certain types of cover. Also, they should see how they can reduce the premium but still get more coverage for their cars.
    • Deductibles – Before purchasing a car insurance policy, car owners should check if there are any deductibles as it can help them save a lot of money. They should also find out if the policy they are looking at offers fixed deductible or percentage deductible.
    • Compare insurance companies – It is advisable for vehicle owners to compare the different insurance companies that provide car insurance policies in Philippines. Doing so will give them a good idea about the costs related to car insurance and help them apply for the best insurance policy. They can use third party websites for comparing the companies and the policies they offer.
    • Keep money for small repairs – People should keep money aside for small repairs and not make a claim on their car insurance policy for the same. If there is no claim made by car owners in a year, they can earn a no claim bonus on their policies. Also, insurance companies keep a track on the number of claims policyholders make on their insurance policy, which speaks a lot about them as a driver.


    Applying for a car insurance today will ensure that you have a safe and secure future tomorrow. It keeps you financially prepared for the worst situations, helping you live in peace.

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