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Car Insurance in the Philippines
In the Philippines, there are two main types of motor car insurance policies to protect entities from various risks due to accidents:
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Comprehensive Motor Car Insurance
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Compulsory Third Party Liability
Comprehensive Auto Insurance
Third Party Liability
In case of accidents and the insured is at fault, the third party liability coverage will be triggered.
Acts of Nature (optional)
This provides coverage to damage to vehicles due to natural calamities like Flood, Typhoon, Earthquake.
- Bodily Injury
Provides coverage to medical expenses of the aggrieved parties. This is a top-up to the CTPL insurance coverage all vehicles in the Philippines are required to have.
- Property Damage
Provides coverage to damages to properties of other entities due to accidents.
Other benefits a comprehensive car insurance policy usually have:
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24/7 Roadside Assistance
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Emergency Towing
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Minor on-site repairs
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Vehicle removal
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Arrangement of Rental Transport
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Car-napping assistance
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Locksmith Assistance
What is covered in a comprehensive car insurance policy?
In the Philippines, the covered risks included in a comprehensive auto insurance policy are generally as follows:
Damage to own vehicle
This covers damages to your own vehicle caused by a collision with another vehicle or object.
Personal Accident Insurance for Passengers
This covers medical expenses for you and your passengers in case of injuries sustained in an accident.
CTPL Insurance
Requirement for LTO Registration
A Compulsory Third Party Liability (CTPL) insurance policy covers bodily injuries due to accidents when the insured is at fault.
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