Insuring your vehicle in the Philippines

Make sure you have car insurance!

Especially when driving in the mayhem of the Philippines, car insurance is essential. The very first step when buying car insurance is to decide on the level of coverage. Compulsory third party liability (CTPL) insurance is required for all vehicles, this is to ensure financial cover.

Most of the time, you can buy your insurance at the Land Transportation Office (LTO)  office in cash. 

It costs about 2,000 pesos per year (around €115).  You pay in advance for the whole year and no cancellation or refunds are allowed. Having a basic third-party insurance is the cheapest Philippines auto insurance plan. You can always extend your insurance, think about collision cover, uninsured motorists insurance etc. Driving without an insurance is considered a serious crime, resulting in severe penalties.

The term “comprehensive” is used  for covering almost everything. This includes “collision and upset”, physical damage other than collision, loss by theft, fire, flood and in most cases, extended liability.This insurance is bought separately, from any agent you choose, and it costs more.

The following are six major car insurance providers:

  1. Prudential Guarantee , offering auto, car and medical insurances.
  2. BPI MS Insurance,  offering auto, car and travel insurances.
  3. Mapfre Insular , offering car and business insurances.
  4. Malayan Insurance , offering car, fire and marine insurances.
  5. UCPB GEN , offering fire, engineering, marine, motor, cars, accident, liability and casualty insurances.
  6. Standard Insurance  offering car, auto, motorcycle, breakdown, marine and liability insurances.

You have to decide which one suits your needs the best. We suggest that you take a look at their websites or contact them directly to fully explore your options.

Annual car service

It is important to have the inspection and the vast majority of cars still have fixed service intervals. These can vary from anywhere between 6,000 and 20,000 miles, although every 10,000 miles or twelve months is typical. If you fail to have the car serviced on time, you will risk damaging your car and you might also invalidate the manufacturer’s warranty. Most manufacturers recommend that the air-conditioning system is serviced every two years.

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