Top 8 Best Car Insurance Philippines 2021

Top 8 Best Car Insurance Philippines 2021

We know that it is a challenge for you to find prestigious and suitable car insurance in the Philippines, do not worry as we’ve found you top 8 Best Car Insurance Philippines with excellent service and answers for your questions on “How to claim insurance for car accident Philippines?” and the affidavit for car insurance. Philmotorlaw will help you to handle these problems.

What Is Car Insurance?

To pick your suitable car insurance, you must understand all basic knowledge about it and how car insurance works.

Firstly, car insurance is your financial safeguard against harm to your car. The following coverage/protection can be included in a car insurance policy:

  • Property: Theft or damages of the vehicle.
  • Liability: If you are the one who caused the problem, you are legally obligated to pay for the damages.
  • Medical: To cover medical costs incurred due to traffic accidents (including funeral and wage loss costs).

Top 8 Best Car Insurance Philippines 2021

Cheap Car Insurance Philipines

Best Car Insurance Philippines: Standard Insurance Company Inc.

Standard Insurance Company Inc. is a non-life insurance company that provides home, cellphone, automobile, marine, general liability, and accident insurance coverage. The car insurance of Standard Insurance Company Inc. covers the following:

  • Thievery
  • Coverage for Loss of Use
  • Natural disasters are covered
  • The harm caused by oneself
  • TPPD stands for third-party property damage
  • EBI stands for Excessive Bodily Injury
  • VTPL stands for Voluntary Third-Party Liability
  • CTPL stands for Compulsory Third-Party Liability
  • Free Personal Accident insurance for the designated insured, Free PA Rider or Personal Accident insurance Rider, or Roadside Assistance Program or RAP are examples of add-on coverage

Best Car Insurance Philippines: Commonwealth Insurance Company

Don Andres Soriano is the founder of San Miguel Brewery, known as San Miguel Corporation, since 1953. He also established this car insurance business in the Philippines. Moreover, the company offer services such as:

  • Natural disasters
  • Carnapping
  • Injury to the car body
  • Own damage
  • Property Loss
  • Personal Injury
  • Liability to a third party

Best Car Insurance Philippines: Pioneer Insurance & Surety Corporation

Pioneer first opened its doors in 1954. Earlier in the decade, this insurance company was one of the leading insurance firms in written gross premiums and overall assets. Below are some of the insurance services they offer:

  • Theft
  • Self-destructive behavior.
  • Compulsory Liability for Third-Party as known as CTPL
  • Excessive Third-Party Liability – Death/Injury
  • Property Damage Due to Excess Third-Party Liability
  • Accidental Insurance for Passengers
  • Acts of Nature Coverage (also known as AON) is a form of insurance that protects you against natural disasters.
  • Personal effects
  • Usage loss
Protecting Your Vehicle, Your Life, And Your Family With Car Insurance

Best Car Insurance Philippines: Malayan Insurance Company, Inc

China Insurance and Surety Company was the previous name of Malayan Insurance Co., Inc, built-in Manila in 1930. Besides, it is a part of the Yuchengco Group and operates as a subsidiary.

Some of the insurance programs they provide are mentioned below (note: some of them are optional)

  • Own damage.
  • Liability Insurance for Third Parties
  • Accident Insurance for Individuals
  • Coverage for Loss of Use
  • Security from Acts of God
  • Coverage of Riots, Strikes, and Civil Unrest
  • Security for Accessories of Standard Automobiles.

>> Check out this post for a detailed listing of car price Philippines

Best Car Insurance Philippines: Charter Ping An Insurance Corporation

Philippines AXA Life Insurance Corporation is the parent company of this insurance company. Fire, motor vehicle, personal injury, marine, bonds casualty, the non-life insurance policies they provide include engineering insurance.

Moreover, the car insurance of this Company covers:

  • Unnamed Passenger Personal Accident (UPPA)
  • Excess Bodily Injury
  • Overturning and malicious damage
  • Fire and explosion,
  • Theft
  • Property Damage
  • Accidental collision
  • Acts of Nature
  • Compulsory Liability for Third Party Liability

Best Car Insurance Philippines: Bpi/Ms Insurance Corporation

BPI/MS Insurance Corporation is a subsidiary of The Bank of Philippine Islands. Specifically, they specialize in accident and health insurance underwriting.

Some of the insurance programs that the corporation provides (note: some are available as options only): 

  • FREE Express Roadside Assistance
  • Theft
  • Injury of Voluntary Third Party Liability-Bodily (VTPL-BI)
  • Liability for Compulsory Third Party (CTPL)
  • Accidental Collision
  • Fire, Explosion, Lightning, Malicious and Self-ignition Damage

Best Car Insurance Philippines: Fpg Insurance

The Federal Phoenix Assurance Company, Inc. was founded in 1958. Moreover, Federal Phoenix Assurance Company, Inc. is a Zuellig Group subsidiary managed by Zuellig Group. It covers:

  • Additional coverage if a covered injury necessitates surgical care
  • Actual in-patient and out-patient care costs incurred by the accident
  • Benefits for the driver and passengers in the event of an accident
  • Roadside Assistance
  • Burial costs are covered
  • Theft
  • Own Damage

Best Car Insurance Philippines: Mapfre Insular Insurance Corporation

Provident Insurance Corporation was the previous name of Mapfre Asian Insurance. More specifically, it was founded in 1934 and had its headquarters in Muntinlupa. Corporacion Mapfre SA operates the company as a subsidiary (based in Europe).

Mapfre provides insurance for:

  • Car Insurance with Full Coverage.
  • Third-Party Liability Insurance is required by law.
  • CTPL with Auto Liability.
  • Insurance for Road Assistance.

How To Apply For A Car Insurance Philippines

If you have no idea how to pay for auto insurance, the initial step will help you look for the cheapest automobile insurance in the Philippines that suits your budget best and has the safety coverage you need.

If you’ve decided on an insurance provider, you can inquire into their policyholders’ interactions with the company, such as claim handling and premium reimbursement. Besides, if you opt to have an auto insurance contract, the insurer may usually have four major requirements:

  • Car’s original document
  • Driver’s License
  • Car’s certificate of registration
  • An additional ID issued by the Philippines government, for example, passport, postal ID, etc.

Best Car Insurance Philippines: Conclusion

With our above recommendations, you will surely find the most suitable insurance company. Moreover, you might want to ask for advice from people who own a car and have purchased car insurance. Their experience will also be of great help. We hope you always drive safely.

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