If you ever got involved in a car accident, most likely, you never got the chance to file an insurance claim. Car accidents happen. So, getting car insurance in Manila can help protect yourself if there are such unfortunate incidents. Furthermore, you can protect the passengers and other parties who are involved in the accident. There are many affordable car insurance plans in the Philippines. However, there are some Filipinos who don’t invest in car insurance. From a 3% penetration rate, the car insurance companies had a 5% penetration rate after the typhoon Ondoy.
If you got yourself into an accident, you could pay 50,000 to 100,000 pesos – this is not a far-fetched figure if it’s more than a scratch. A car insurance company gives you the peace of mind as you know someone will cover for the acquired damages on the road.
Surprisingly, several commercial vehicles still have no insurance. Sadly, most of them are operated by small businesses. Once their cars are damaged, they need to wait for funds. Unlike having car insurance, companies will quickly respond to their claims to fix their vehicles as soon as possible.
There are two types of car insurance Philippines: Compulsory Third-Party Liability and Comprehensive Car Insurance or ctpl insurance Philippines – both are equally essential. In reality, you’ll only need one. But if you can avail both, then go for it.
There are different car insurance policies; some have more features than the others – you have to be smart. Therefore, research and weigh the offers before you choose. Gather as much information as you can to get to the right decision. Back in the day, car insurance policies are pre-packaged and ready for delivery. Today, most companies let their clients pick more options, giving them more freedom in decision-making. Hence, leading to higher financial savings.
In terms of payments, get a list of payment options. Some find it more convenient to pay annually. On the other hand, some prefer paying monthly or quarterly – know what works best for your needs. Perhaps the most effective way to know which car insurance provider is suitable for you is by asking relatives and dear friends about their car insurance policies. Listen to their experiences, particularly when filing a claim.
However, there are lots of people who are not familiar with the different damages which are not covered by their insurance – it won’t be an excuse once you get a claim. There are several ways car insurance Molino owners can revoke their insurance policies – check out this infographic by iChoose.ph.