Follow Us

Comprehensive Car Insurance in the Philippines

vehicle accident. Why you need a Comprehensive Car Insurance in the Philippines

Share this:

Written By Editorial Team

Editorial Team of Metaverse VR Now

May 22, 2022

Comprehensive car insurance is a necessary evil for most Filipino drivers. Comprehensive vehicle insurance covers damage to your car that may cause by a collision, such as theft, vandalism, or weather damage. It also includes protection for you and your passengers in the event of an accident. The cost of comprehensive coverage can be expensive, but it is worth the peace of mind it provides. Comprehensive coverage is not mandatory in the country, but it is highly advisable by vehicle and finance experts.

If you are involved in a vehicle accident that is not your fault, comprehensive insurance will help cover the costs of repairs. If your car is stolen or vandalized, comprehensive insurance will help pay for the replacement or repair of your vehicle. And if hail or a tornado damages your vehicle, comprehensive insurance will help pay for the repairs.

 

What is car insurance?

An automobile insurance policy is a contract between an insurance company and the policyholder. In exchange for premiums, the insurer agrees to pay for losses or damages an insured suffers as a result of a traffic accident.

There are various types of coverage included in an automobile insurance policy, but the most common are liability, collision, and comprehensive. Liability insurance covers injuries or property damage that you cause to others in a traffic accident. Collision insurance pays to repair your car after a car accident. Comprehensive coverage pays for damage to your car caused by something other than a collision, such as fire, theft, or vandalism.

Most states require that Filipino drivers carry some form of auto liability insurance. However, you may choose to purchase additional coverage beyond the state minimums.

 

Why do you need comprehensive car insurance?

Comprehensive car insurance is a type of coverage that helps protect Filipino drivers from costs associated with accidents that are not the fault of the policyholder. This can include damage to the vehicle, as well as injuries to Pinoy drivers and passengers.

Comprehensive vehicle insurance is a wise investment for anyone who relies on their vehicle for transportation. It can help protect drivers from costly repairs or medical bills in the event of an accident.

 

How does comprehensive car insurance work in the Philippines?

Comprehensive car insurance is a type of coverage that helps protect Filipino drivers from losses incurred as the result of a car accident. This type of policy can help cover the cost of damages to your vehicle, as well as any injuries or property damage sustained by you or others in the accident.

Car insurance is necessary as per the instruction by law in the Philippines, and all Pinoy drivers are required to have at least this level of coverage.

There are several different types of comprehensive policies available, and it’s essential to choose one that fits your needs. Some policies may offer more protection than others, so it’s important to read the fine print and understand what is covered before you purchase a policy.

If you are involved in an accident, comprehensive vehicle insurance will help cover the costs associated with repairing or replacing your vehicle.

 

Coverage: What does comprehensive vehicle insurance cover in the Philippines?

Comprehensive car insurance is a type of coverage that is available in the Philippines.

It is different from other types of vehicle insurance, such as collision and liability, because it covers a broader range of incidents. Comprehensive car insurance can help protect policyholders from incidents such as damage to their vehicle caused by a natural disaster, theft, or vandalism.

It can also help cover the costs of medical expenses and property damage as a result of an accident.

 

Exclusions: What is not covered by comprehensive vehicle insurance in the Philippines?

There are a few things that comprehensive car insurance in the Philippines does not cover.

These include damage to the car due to a natural disaster, such as a hurricane or tornado.

Comprehensive automotive insurance also does not cover damage to the car that is in collision with an animal.

Additionally, damages from theft or vandalism are typically not covered by comprehensive car insurance policies.

 

Add-ons: What optional coverage can you buy with vehicle insurance in the Philippines?

There are a few different types of add-ons that you can include with comprehensive car insurance in the Philippines.

The most common are towing and labor, glass repair, and rental car coverage.

Towing and labor coverage pays for the cost of towing your car to a nearby mechanical garage if it breaks down, and the insurance pays for the cost of repairing your car at the nearest garage.

Glass repair coverage pays for the cost of repairing or replacing your windshield if it is damaged.

Rental car coverage pays for the cost of renting a car.

These are just a few examples of the types of add-ons that are available. Be sure to read through your policy carefully to see what is covered and what is not. Also, be sure to ask your insurance company about any discounts they may offer on add-ons.

 

How much does comprehensive car insurance cost in the Philippines?

How much does comprehensive car insurance cost in the Philippines? This is a question that many Filipino drivers have, but it is not easy to answer.

The cost of comprehensive automotive insurance depends on a number of factors, including the make and model of the car, the age of the Filipino driver, and the coverage. One thing is for sure; comprehensive car insurance is not cheap.

In general, premiums for comprehensive coverage range from around P15,000 to P50,000 per year. Of course, this amount can vary depending on the insurance company and other factors.

So what exactly does comprehensive vehicle insurance cover? Generally speaking, it provides protection against collisions, theft, fire, and other types of damage. It also includes liability coverage in case you are involved in an accident, and you are at fault.

 

Discounts: How can you save money on car insurance in the Philippines?

There are a few ways to get discounts on comprehensive car insurance in the Philippines.

One way is to have a good driving record. If you have never had an accident or received a ticket for a traffic violation, you may be eligible for a discount.

Another way to save money is to bundle your automotive insurance with your home or renters insurance policy. You may also be able to get a discount if you insure multiple cars with the same company.

 

How to file a vehicle insurance claim in the Philippines?

Filing a car insurance claim can be a daunting task, but with these simple steps, you can make the process easier for yourself.

First, make sure you have all the necessary information available. This includes your policy number, the name of your insurance company, and the contact information for your claims representative. If you’re in an accident, take pictures of the damage to both cars involved. Make sure to get close-ups of any damage and write down the license plate numbers of both cars.

Then, call your insurance company and report the accident. Be prepared to give them a detailed account of what happened.

They will also ask for documentation such as police reports or repair estimates. Once your insurance company has all the information they need, they will start processing your claim. This process can take some time, so be patient.

 

What are other types of car insurance available in the Philippines?

There are a few other types of car insurance available in the Philippines.

One is comprehensive car insurance, which covers damages to your car caused by accidents, theft, fire, and natural disasters. It also includes personal accident coverage for you and your passengers.

Medical expenses do not include in comprehensive car insurance.

Another type of automotive insurance is third-party liability (TPL) insurance. This type of policy covers damages that you cause to other people or their property in an accident. It does not cover damages to your own car. Third-party liability insurance is mandatory by law in the Philippines.

The last type of vehicle insurance is collision damage waiver (CDW). This policy covers damages to your car caused by accidents, but it does not cover damages caused by theft or fire.

There are also several other types of car insurance available, such as fire and theft insurance, personal accident insurance, and more. Be sure to research the different kinds of car insurance available in order to find the best policy for you.

 

Conclusion: vehicle insurance is important, but it’s not always the cheapest option.

Comprehensive car insurance is essential coverage to have, but it’s not always the cheapest option. In fact, depending on your driving record and the type of car you own, comprehensive insurance could be quite a bit more expensive than basic liability coverage. However, comprehensive insurance is worth the investment. It can help you pay for repairs or replacement if your car is damaged in an accident, regardless of who is at fault. It can also help protect you if your car is stolen or vandalized. While comprehensive insurance may not be the cheapest option available, it’s one of the essential types of coverage you can have. It can help protect you and your family in the event of a serious accident or theft.

car accident. why you need a comprehensive car insurance
Comprehensive Car Insurance in the Philippines

You May Also Like…

Leave a Comment…

Pin It on Pinterest