Stop paying more than you need for car insurance.
MoneyMax.ph gives you the power to compare premiums from different insurance
companies so you can choose the best one for you. Whether it’s for personal or
commercial cars, finding the right car insurance doesn’t have to be
complicated. Read on for more information on car insurance, how it works, and
how you can benefit from it.
What is
Car Insurance?
Car Insurance is a contracted policy purchased by a vehicle
owner where the insured pays a certain amount of premium in exchange for
coverage given by the insurance company. The scope of coverage depends on the
policy purchased. It can be as simple as coverage for bodily injury and death
of a third party, to more complex protection against loss of property, personal
injury, theft, and more.
Where
Did Car Insurance Come From?
The concept of insurance was built to support society in
times of unexpected and unforeseen events. It provides assistance in rebuilding
homes, refilling food rations, or reimbursing merchants for gods lost at sea or
along the road. Insurance has long been present in shaping civilizations and
business.
Protect Your Hard Earned Money by Insuring Your Car
Accidents can happen regardless of how skilled a driver is. Having car insurance is the best way to manage risk. Its
main purpose is to protect you from unexpected expenses in case your car gets
damaged or stolen, or in case anyone riding your car gets injured. With car
insurance, you don’t have to spend thousands on repairs or hospital bills.
The extra protection gives you peace of mind every time you hit the road.
How to
Claim Car Insurance
In cases of a vehicular accident, you can file a claim with
your insurance provider for repairs or other forms of indemnification. Learn
more about the steps and requirements for claiming
car insurance at this page.
How Does
Car Insurance Work?
Car insurance provides financial protection for vehicle
owners, especially in cases where cars are involved in accidents, bodily
injuries, and theft. Learn more
about how car insurance works at this page.
What is
Compulsory Third-Party Liability insurance?
Compulsory Third-Party Liability insurance (CTPL) is an
insurance cover required by the Land Transportation Office (LTO) for all
vehicle owners when they register a vehicle. Learn
more about what CTPL insurance covers at this page.
What is
Comprehensive Car Insurance?
Comprehensive insurance offers greater protection
than CTPL insurance. It protects your cars from accidents that are not the
result of a collision, such as flooding, theft, or fire. Learn more about
comprehensive car insurance at this page.
Save
Money on Car Insurance
It may be tempting to save money by sticking to CTPL
insurance. But getting comprehensive coverage will keep you from spending
thousands of pesos on repairs if your car gets damaged. Here some basic tips to
help save you money when getting a policy:
·
Choose a cheaper car
Insurers consider the make and model of
your car as indicators for repair and replacement costs. The more expensive
your car is, the higher you pay for your premiums. If you are yet to buy your
own car and wish to lower insurance cost, you might want to consider buying a
more economic vehicle.
·
Keep a good driving record
Insurers partially base your risk level
on your claims history and your driving record. If you’ve kept a good driving
record, you are automatically entitled to discounts on car insurance rates. To
make it simple, inexpensive car insurance can be a reward for careful driving.
·
Install safety equipment in your car
Get substantial insurance discounts by
fitting your car with safety features such as driver alarm and anti-theft
devices.
·
Pay your premiums annually
Paying your premium in an annual lump
sum may reduce the cost of your insurance. Some insurers often charge you with
additional fees if you choose to pay your premium on a monthly basis.
·
Shop Around! Compare Car Insurance Rates
in the Philippines
MoneyMax.ph has all the information you
need from leading car insurance companies the Philippines. Our powerful
comparison platform lets you compare different premiums and spot the right one
for your needs and budget. Click below to start comparing prices now. (Add call
to action button below to go back to top)
Thanks Nishant for sharing this informative blog, it seems very helpful, i was looking for content about car insurance
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