How car insurance works in the Philippines?

How does car insurance work Philippines?

A car insurance is a contract between the insurance company and yourself that you will pay the premiums and the insurance company will pay any losses as declared in your insurance policy. … Car insurance companies in the Philippines can insure vehicles that have a market value of not lower than ₱250,000.

Is it required to have insurance on a car Philippines?

Having car insurance in the Philippines is a necessity, in fact, even the government requires you to get Compulsory Third Party Liability (CTPL) for your vehicle when you registered it.

Does car insurance cover scratches and dents in Philippines?


The accident does not need to result in major damage that renders the vehicle incapacitated; even superficial damage such as scratches or dents are covered.

Can I claim insurance if I damage my own car in the Philippines?

On filing an Own Damage Claim

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When you damage your own car on the road, you will need to file an own damage claim. You will be covered for the repair cost and replacement of the damaged parts of your car with your insurance.

What are the types of car insurance in the Philippines?

The Different Types of Auto Coverage in the Philippines

  • Compulsory Third-Party Liability Insurance.
  • Comprehensive Car Insurance.
  • Third-Party Liability Insurance.
  • Additional types of insurance.

Is it better to pay car insurance monthly or every 6 months?

Whether you choose a 6-month or 12-month car insurance policy, it’s always better to pay in full. When you make monthly payments, you’ll probably be charged slightly more on your premiums and may also be subject to additional payment processing fees if you pay electronically.

What will happen if you don’t have car insurance in Philippines?

You’ll be facing charges or even jail time

Of course, if you can’t pay for the damages you’ve caused, you’ll be dealing with legal matters. If you’re the root of the accident and you can’t cover the damage you’ve done, the least charge you may face is reckless imprudence resulting to damage to property.

Can we use car without insurance?

Yes, it is illegal to drive without an insurance policy as per the Motor Vehicle Act, 2019. The Government of India has made Third-Party Liability Insurance mandatory for all motor vehicles to drive legally on the road.

Is comprehensive insurance required by law in the Philippines?

What is Comprehensive Insurance for Cars in the Philippines? True to its name, a comprehensive insurance for cars in the Philippines or “compre” is a more comprehensive type of policy compared to CTPL. It’s not mandatory, but it is highly recommended to buy one, especially if you use your vehicle everyday.

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Does insurance cover unregistered car Philippines?

Can an unregistered vehicle be insured? No, you can’t. When you buy insurance, to complete all the work paper, you need to submit several documents, including a certificate of registration that proves your vehicle is registered in the Philippines and that it belongs to you.

How do you claim car insurance?

6 Easy Steps For Making Car Insurance Claim After an Accident

  1. Step 1: Inform The Insurance Company. …
  2. Step 2: Lodge An FIR In The Nearest Police Station. …
  3. Step 3: Capture Photographs As Valid Proof. …
  4. Step 4: Submit All The Documents To The Insurer. …
  5. Step 5: Ask The Insurance Company To Send A Surveyor. …
  6. Step 6: Car Repairs.

How long does a motor claim take?

How long after a car accident can you claim? Insurers will only generally pay out on claims that are made within a certain timeframe, which can be anything from a day to a few weeks. So it’s best to report accidents to your insurer within 24 hours, especially if you want your claim settled as soon as possible.

How do I get my no claims certificate from insurance?

You can send a copy of Registration Transfer Form (RTO Form 29) along with the previous year car insurance policy details to the insurer to get a no claim bonus retention certificate. This certificate can be produced to get the discount on own damage car insurance premium when you purchase another vehicle.

What is participation fee?

A participation fee is an amount you pay out-of-pocket to your car insurance provider every time you make a claim before the insurer shoulders the rest of the claim value. Participation fee payment is one of the requirements for most car insurance claims.

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