Cars Sedan for sale in Davao Occidental (18)

What kind of car insurance in the Philippines fit you the most?

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Someone asked me why they had to purchase an insurance for their vehicle. For some it seems like an unnecessary yearly expense on top of their annual vehicle registration. Their main argument is if they drive ever so carefully, follow all the rules and keep between the lines they would not have any need for such “expense”. All this is well and good until you get into an accident.

Accidents by its very definition are mishaps you have absolutely no control over and may happen any time. No one really plans for it to happen, and when it does you'd be ever so grateful for your insurance and it is something you have to fully consider with your budget

What makes things somewhat confusing to new car-buyers is that there are 2 types of car insurance in the Philippines. We at Philkotse.com know how important this is and are ready to hopefully enlighten you on these types of insurance and can give you an even more informed decision on what to get.

Compulsory Third-Party Liability Insurance

Compulsory Third-Party Liability Insurance (CTPL) is a government mandated insurance and the most basic requirement every time you have your car registered. This costs so much less than the alternative and the policy must be presented along with other application forms for registration renewal.

This type of insurance covers nothing on your end of an accident but is a benefit that covers all expenses incurred by the party opposing you in an incident. This covers hospital bills for injuries sustained by the other party or funeral and restitution expenses as well. There is a hard-cap of P 100,000.00 and acts as your protection against breaking your own bank account to cover such expenses.

Applying for a policy is easy compared to claiming for this benefit, though. One must submit a claim immediately with police and medical reports, pictures and/or video documenting the incident and would even require legal assistance to support your claim.

Therefore, before determining the best insurance fit your needs as well as your budget, you can visit our updated Philippines car price list to have a proper financing to your next car purchase.

Comprehensive Car Insurance

This type of policy is significantly more expensive than the minimum required CTPL but covers a lot more ground. It provides a wider protection for yourself, your vehicle and the opposing party in an accident. Depending on the policy and premium you can have a number of items claimed and covered.

• Voluntary Third Party Liability- Bodily Injury and Property Damage. VTPL Bodily Injury is similar to CTPL but is used to augment the policy for expenses that exceed the hard cap of P100,000.00. VTPL Property Damage also covers the other car or any other damage to the property owned by the third party caused by your insured vehicle.
• Own Damage and Theft. This feature allows you to claim for the agreed upon value of your vehicle in the event of theft and covers damage such as vandalism and other minor damage.
• Act of God. Damage or loss of your vehicle caused by natural disasters and calamity.
• Roadside Assistance, and many more…

Prevention is most definitely better than cure my friends, and for Philippine streets that almost resemble Mad Max times, I believe insurance is really key.

The main benefit of this type of insurance is that you do not have to go through hoops and pinhole to file for the claim as insurance companies will most likely take your word for your claim or cover your claim even if you are at fault. It's best to check with the car dealers in Davao Occidental for more specific policy applied for different types of vehicle.

In case you want to widen your car search to more affordable options, we also offer a Cars for sale section that features both brand new and second hand vehicles from all automakers. With thousands of new listings updated every day on Philkotse.com by verified sellers nationwide for all Auto brands in the Philippines hope that you can, with us, find your dream drive.