All Articles With Category : Car Insurance

The latest and the best financial news, tips and tricks.

Steps to Transfer Car Ownership in the Philippines

Is your second-hand vehicle already registered in your name? If not, you have to transfer car ownership immediately. Updating your vehicle’s ownership records with the Land Transportation Office (LTO) is among the first things to accomplish after purchasing a used unit. Generally, you can’t drive a car or motorcycle in the Philippines if it’s not under your name. Here’s everything you must know about how to transfer name of car ownership in the Philippines. Table of ContentsHow to Transfer Car Ownership in the Philippines1. Get a Clearance from the PNP-HPG2. Prepare the LTO Requirements for Transfer of Ownership3. Apply for LTO Transfer of OwnershipTransfer of Ownership FAQs1. Who should apply for the change of ownership?2. How much does it cost to transfer car ownership in the Philippines?3. The original certificate of registration is lost/damaged. What should I do?4. Can I drive a motorcycle not registered in my name?5. What will happen if I don’t transfer car ownership?Final Thoughts How to Transfer Car Ownership in the Philippines 1. Get a Clearance from the PNP-HPG What is Motor Vehicle Clearance Certificate? A Motor Vehicle Clearance Certificate is an official document certifying that the vehicle is not in the list of wanted or stolen vehicles as of the issue date. The Philippine National Police – Highway Patrol Group (PNP-HPG) issues this certification. A PNP-HPG clearance is an important requirement for the transfer of ownership. It’s your proof to the authorities that the second-hand vehicle you’re using has neither been carnapped nor used in a crime. To confirm that, the PNP-HPG will inspect your…

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Got Your Car Repossessed? Here’s What You Must Do

Uh-oh, the bank just hauled your car away. What now? Losing your car is painful as it is. The hard-earned money you’ve paid for the monthly installments is gone in an instant. Having no car suddenly can also jeopardize your work or business. It doesn’t help that the miserable state of public transportation in the Philippines doesn’t offer an alternative to car-less Pinoys. What happens next could be very stressful, but it’s the ugly consequence of failing to repay your car loan on time. Here’s what you need to know about car repossession in the Philippines and the steps you can take after going through the experience of having a repossessed car. Table of ContentsWhat is Car Repossession?Car Repossession Process in the PhilippinesWhat to Do When Your Car is RepossessedFind out why the car got repossessedGet your belongings backDecide if you can afford to recover your carDecide if you’ll keep or cancel your car insurance policyLet it goImprove your credit historyTips to Avoid Car RepossessionStay on top of your monthly paymentsTalk to your bankConsider refinancingSell your carFinal Thoughts What is Car Repossession? In the Philippines, car repossession means your bank takes your vehicle because of missed payments, typically called loan default. Authorities can seize your vehicle as soon as you fail to make your car payments as agreed in the contract. Should you default, your bank can charge you the following: Extrajudicial Foreclosure Under the Chattel Mortgage Law (Act No. 1508): if you voluntarily surrender your vehicle[1]. Judicial Foreclosure of the Chattel Mortgage: should you refuse to surrender your car….

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What Happens If I Stop Paying My Car Insurance?

At some point, you might be unable to pay your car insurance premium. Perhaps you ran short of cash due to a family emergency, or you can no longer afford the premium payments due to unemployment or any unforeseen event. Or you simply forgot because you’re too busy. Regardless of the reason you stop paying car insurance, it’s a costly mistake that can have serious and lasting consequences. You don’t want to be in such a situation. So it’s crucial to be fully aware of what can happen in case you miss a payment and what you can do to correct the situation. Table of ContentsWhat Happens If You Don’t Pay Car Insurance on TimeWhat Happens If You Stop Paying Car Insurance Altogether1. The Insurance Company Will Cancel Your Policy2. You’ll Lose Car Insurance Coverage3. Your Car Could be Repossessed4. Your Credit Score Could Drop5. Your New Premium Could IncreaseWhat to Do After Missing Your Car Insurance PaymentTalk to Your Car Insurance ProviderFind New Car Insurance CoverageChoose Your Payment Method WiselyFinal Thoughts What Happens If You Don’t Pay Car Insurance on Time Not all car insurance companies give a grace period to their clients. A grace period is a span of time after the due date during which a policy stays active even though the premium isn’t paid yet. But if your insurance provider provides a grace period, it won’t cancel your policy immediately because of a missed payment. Even if you make a late payment for your car insurance—as long as it’s within the grace period—your coverage won’t end….

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Best Websites to Buy Used Cars Online in the Philippines

Online shopping has redefined the used car purchase process. Gone are the days when shopping for second-hand cars meant spending a whole day hopping from one dealership to another and haggling a lower price. Nowadays, you can easily search where to buy second-hand cars online. Visit a buy-and-sell car website, type your desired make and model, and hit enter. Within seconds, you’ll get an extensive list of second-hand cars for sale. All you have to do is find the best deal for you and contact the seller to set up or negotiate the purchase. The best part of using buy-and-sell car websites? It doesn’t cost anything. You don’t even need to haggle—you can easily find cheap used car deals online. Visit these websites where you can buy used cars online in the Philippines. Table of ContentsWhere to Buy Second-Hand Cars Online1. Carmudi2. Tsikot3. AutoDeal4. Philkotse5. CarFinderPH6. PhilMotors7. Zigwheels PhilippinesFinal Thoughts Where to Buy Second-Hand Cars Online 1. Carmudi Carmudi[1] is one of the top places to know where to buy second-hand cars for sale in the Philippines. The website provides a host of useful services to enhance the buying experience for used cars online. The most noteworthy is its multi-point inspection service that eliminates the uncertainty about a used car’s real condition. Some of the used cars undergo full inspection—from the interior to under-chassis—before they’re put up for sale online. Buyers can download an in-depth vehicle inspection report for free, which shows the components that passed the quality and safety checks. The report also recommends parts for repair or replacement. This…

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10 Tips on How to Take Care of Your Car While in Quarantine

The government-imposed lockdown to control the Coronavirus spread has restricted the movement of not just people but also vehicles. While you’re stuck at home, your car is stuck as well in the garage for a long time. That’s the new normal for you and your ride. However, cars are designed to be driven regularly—not to sit idle for extended periods. The longer your vehicle stays put, the higher the risk of damage and expensive repair bills. Keep your vehicle in a good running condition during the COVID-19 quarantine period with these 10 car maintenance tips. Table of ContentsHow to Take Care of Your Car During Lockdown1. Clean and Sanitize Your Car2. Top Off the Fuel Tank3. Maintain Your Battery’s Good Condition4. Go for a Drive5. Change the Oil6. Keep the Tires Properly Inflated7. Remove the Wiper Blades8. Place Your Car in “Park” or “Reverse”9. Park in a Safe Spot10. Cover Your CarFinal Thoughts How to Take Care of Your Car During Lockdown 1. Clean and Sanitize Your Car Keep your car clean—even if you’re not using it as often—to prevent permanent damage to the paint job and to keep bad odor and molds from building up in the exterior. Car sanitation is also a must to get rid of viruses and other germs. Since most carwash shops are closed, you have no choice but to wash, wax, and disinfect your vehicle by yourself at least once a week. Do these DIY car maintenance tasks more often to protect your ride if it gets sprayed with harsh disinfectants at checkpoints. Related:…

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7 Reasons Why You Should Get Car Insurance Online

This article was published on May 25, 2016 and was updated on April 20, 2020. Did you know that you can buy car insurance online? Yes, paperless transactions do happen in the insurance industry, and you can take advantage of the benefits of going online. Once you’ve purchased car insurance over the internet, you might never want to go back to the traditional paper method. Here are the whys and hows of getting auto insurance online in the Philippines. Table of ContentsWhy Should I Purchase My Car Insurance Online?1. Save Time Searching and Comparing Quotes2. Purchase Car Insurance Conveniently3. Save on Costs4. Get Your Policy Faster5. Access Your Policy Anytime, Anywhere6. Renew Your Policy More Easily7. Save the EnvironmentHow to Process Your Car Insurance Online?What are the Requirements to Get Car Insurance Online?How to Get Car Insurance Quote Online?How to Pay for Your Car Insurance PolicyFinal Thoughts Why Should I Purchase My Car Insurance Online? 1. Save Time Searching and Comparing Quotes Convenience is the biggest advantage of shopping for car insurance online. In the past—before car insurance providers and brokers had gone online—car owners would spend hours calling different companies to request a car insurance quote. But in this digital age, the hours spent collecting and comparing quotes have been reduced to minutes with the help of car insurance comparison websites like Moneymax. Through a comparison site, you can compare quotes from a variety of insurers in one go and find the best car insurance at the lowest cost. Read more: What is a Comparison Website and How Can It…

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How to Get Car Insurance for Second Hand Vehicles

Second hand cars are cheaper to own than brand-new ones, which is why cash-strapped Filipinos typically opt for a used unit for their first car [1]. Did you buy a pre-owned car? Car insurance for second hand cars is not an option but rather a must. To insure a second hand vehicle, owners have two choices: either retain the old car insurance policy or buy a new policy. Here’s a walk-through of how to get car insurance for second hand cars in the Philippines. Table of ContentsHow to Transfer Car Insurance Policy for a Used CarHow to Get Car Insurance for Second Hand Cars1. Check If the Used Vehicle Can Still be Insured2. Decide on the Coverage You Need3. Get Car Insurance Quotes4. Submit the Requirements5. Receive Your PolicyFinal Thoughts How to Transfer Car Insurance Policy for a Used Car The easier way to insure a second-hand car is to keep its existing insurance policy intact. However, a policy doesn’t get transferred automatically with the change of vehicle ownership. The original owner has to get approval from the car insurance company to transfer the policy to the new owner. Do you prefer to retain the car insurance of your newly bought second-hand unit? As long as the original policyholder has not canceled the car insurance, you can have the policy transferred to your name right after finalizing the vehicle sale. The seller or original owner is the one who will coordinate with the insurance provider to request a transfer of car insurance policy. Once approved, the insurer will issue an…

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TPL Insurance in the Philippines: A Quick Guide for Filipino Motorists

Owning a car entails a lot of financial responsibilities. Aside from the car itself, you’ll be paying for things like registration, maintenance, and insurance. Many Filipinos choose to forgo the latter, thinking that being careful is enough. Newsflash! It’s not, mainly because before you can even drive your car, you need to buy a particular type of insurance called TPL insurance. What is it and why is it necessary for owning a vehicle in the Philippines? Let’s answer that with this guide. Table of ContentsWhat is TPL Insurance?Is Third Party Liability Insurance Mandatory?Why is TPL Insurance Mandatory?What is Third Party Liability?Not covered by TPLCovered by TPLWhat does TPL Insurance Cover?How and Where Can I Get TPL Insurance?How Much is TPL Insurance?Vehicle TypeCTPL Insurance PriceHow Do I File a Claim for TPL Insurance?What are the Requirements for Filing a CTPL Claim?For third-party bodily injury claim:For third-party death claim:Final ThoughtsGet a Free Car Insurance Quote! What is TPL Insurance? TPL or (CTPL insurance for others) is a basic car insurance that every car owner in the Philippines should get before registering their vehicles to the Land Transportation Office (LTO). TPL means “third party liability,” but can sometimes be referred to as compulsory third party liability insurance. As the name implies, TPL covers you from liabilities you will receive in the event of an accident that injured or killed a third party. TPL insurance is a requirement for all types of vehicles, from private to commercial vehicles and even trucks and motorcycles. Is Third Party Liability Insurance Mandatory? Yes. Motorists are required to…

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The Benefits of Going Paperless with Moneymax

Table of ContentsWe’ve gone paperless! What does this mean?What does it mean for Moneymax clients?Sounds good. But what are the benefits? We’ve gone paperless!  We know that a lot of people still prefer the traditional way of doing business, which is to receive and sign documents on print. However, we believe that going paperless is beneficial not only for you, our dear client, but for the environment as well. What does this mean? This means that Moneymax will start issuing policy documents on soft copy. We have been doing this for quite a while but we wish to eliminate all kinds of printed insurance documents in the long run. What does it mean for Moneymax clients? Just a few things, really. All of our car insurance clients will automatically receive e-policies sent by their comparison advisors through email Remember that e-policies are as good as printed insurance documents. Your insurance provider will recognize your claim even if you don’t have a hard copy of your policy. Hard copies are by request only. Just inform your advisor if you really prefer to have one. Sounds good. But what are the benefits? A lot. It’s good not only for you but for the environment, too. Check out our infographic below. Do you have any questions? Confused on how paperless works? Feel free to send us a message on Facebook or email us at max@moneymax.ph. We’ll be happy to assist you.

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Car Sanitation Tips to Help Prevent Coronavirus Spread

Is your car free from the novel coronavirus? Much of what we hear about coronavirus prevention has to do with good personal hygiene, such as frequent and proper handwashing. But there’s hardly any info on how to disinfect car interior and keep it virus-free. During the outbreak, protect yourself and your passengers through good car sanitation practices—whether you drive for personal or ride-sharing purposes. More so if you own a fleet of vehicles for rental or any commercial use, especially if you live in an area with many confirmed cases of coronavirus disease 2019 (COVID-19). Table of ContentsHow Does Coronavirus Spread in a Car?DIY Car Sanitation Tips1. Use Soap and Water2. Don’t Use Harsh Chemicals3. Wash Surfaces Vigorously4. Clean Frequently Touched SurfacesProfessional Car Sanitation ServiceFinal Thoughts How Does Coronavirus Spread in a Car? Before we discuss how to disinfect car interior against viruses, it’s important to understand first how infections can possibly happen inside a car. Car interiors can contain and help spread viruses that cause infectious diseases like COVID-19. When an infected person coughs or exhales, small droplets from the nose or mouth land on surfaces in the car. Coronaviruses survive on surfaces for a few hours or up to several days, according to the World Health Organization (WHO)[1]. Other passengers can get infected when they touch surfaces with the virus, and then touch their eyes, nose, or mouth. The silver lining here, though, is that you can kill the virus on various surfaces in your car. Read More: Coronavirus Self Assessment Tool and Other Related Tips DIY Car Sanitation…

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How Much Does it Cost to Insure Your Mitsubishi Vehicle in the Philippines?

Got a Mitsubishi vehicle that you need to insure? If you’re wondering how much a Mitsubishi car insurance policy costs, the best way to start is to search and compare quotes for your particular model. But first, let’s set your expectations right. Car insurance cost in the Philippines—regardless of vehicle make and model—isn’t a fixed price. It varies depending on factors such as the add-ons you’ll get, how much your deductible is, and your vehicle’s model and variant. To help you get started, here’s a rundown of the cheapest annual premiums for Mitsubishi car insurance in the Philippines. Table of ContentsLowest Annual Car Insurance Cost per Mitsubishi ModelMitsubishi ModelAnnual PremiumCar TrimWhere to Get a Free Car Insurance QuoteMitsubishi Mirage Car Insurance PriceCheapest Annual Premium: PHP 12,397 (2019 Mitsubishi Mirage GLS 1.2L Gas M/T)Mitsubishi Mirage G4 Car Insurance PriceCheapest Annual Premium: PHP 14,298 (2019 Mitsubishi Mirage G4 GLS 1.2L Gas M/T)Mitsubishi Xpander Car Insurance PriceCheapest Annual Premium: PHP 19,032 (2019 Mitsubishi Xpander GLS 1.5L Gas A/T FWD)Mitsubishi Montero Sport Car Insurance PriceCheapest Annual Premium: PHP 27,617 (2019 Mitsubishi Montero Sport GLS 2.4L Diesel M/T)Mitsubishi Adventure Car Insurance PriceCheapest Annual Premium: PHP 16,107 (2019 Mitsubishi Adventure GLS Sport 2.5L Diesel M/T)Mitsubishi L300 Car Insurance PriceCheapest Annual Premium: PHP 12,547 (2019 Mitsubishi L300 Versa Van 2.5L Diesel M/T)Mitsubishi Lancer Car Insurance PriceCheapest Annual Premium: PHP 9,804 (2019 Mitsubishi Lancer GLX 1.6L Gas M/T)Mitsubishi Strada Car Insurance PriceCheapest Annual Premium: PHP 22,744 (2019 Mitsubishi Strada GL 2.5L Diesel M/T AWD)Final Thoughts Lowest Annual Car Insurance Cost per Mitsubishi Model Mitsubishi Model Annual Premium Car…

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How Much Does it Cost to Insure Your Toyota Vehicle in the Philippines?

Toyota car insurance costs, as with those of other Japanese cars like Honda and Nissan, come cheap in the Philippines. What drives car insurance prices down for Toyota models is their high safety ratings. They’re equipped with topnotch safety features, which is a factor that affects car insurance costs. Also, Toyota car parts are easy and affordable to replace or repair. This is also one of the reasons—apart from less expensive selling prices—why Toyota is the top-selling automotive brand in the Philippines. Toyota Motor Philippines sold a total of 161,385 units last year[1]. Out of the country’s 10 best-selling cars in 2019[2], seven are Toyota models: Vios, Hilux, Innova, Fortuner, Hiace, Wigo, Rush. If you’re trying to find a Toyota model that doesn’t cost much to insure, here are the Toyota car insurance prices that will help you decide the best vehicle to purchase this year. Note that the prices are estimates from actual vehicle insurance providers. The actual car insurance costs may still vary per Toyota model variant. Table of ContentsLowest Annual Car Insurance Cost per Toyota ModelToyota ModelCheapest Annual PremiumCar TrimWhere to Get a Free Car Insurance QuoteToyota Vios Insurance PriceCheapest Annual Premium: PHP 12,973 (2019 Toyota Vios J Base Model 1.3L Gas M/T)Toyota Hilux Insurance PriceCheapest Annual Premium: PHP 14,740 (2019 Toyota Hilux CabChassis 2.4L Diesel M/T)Toyota Innova Insurance PriceCheapest Annual Premium: PHP 14,713 (2019 Toyota Innova G 2.0L Gas M/T)Toyota Fortuner Insurance PriceCheapest Annual Premium: PHP 26,670 (2019 Toyota Fortuner G 2.4L Diesel M/T)Toyota Hiace Insurance PriceCheapest Annual Premium: PHP 24,379 (2019 Toyota Hiace Commuter 3.0L…

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Participation Fee in Car Insurance: What Is It and Why Is It Needed?

There are typical questions one may ask about their coverage or specifics on the policy they’ve acquired. Among these questions involve the participation fee in car insurance. “How much is my participation fee?” “Why do I have to pay a deductible for my car insurance?” Still have a vague idea of this car insurance cost? Here’s what you need to know about car insurance participation fees in the Philippines. Table of ContentsWhat is the Meaning of Participation Fee?Why Do Car Insurance Providers Charge a Participation Fee?Types of Participation FeeWhat is Deductible Fee in Car Insurance?What is Depreciation Fee in Car Insurance?How Much is Participation Fee in Car Insurance?How to Compute Participation FeeHow to Save Money on Car Insurance Participation Fee1. Consider a Fixed Deductible Fee2. Pursue Your Claim Against the Third Party If You Aren’t at Fault3. Use Surplus Parts for Repair4. Pay for the Repair Bill by YourselfFinal Thoughts What is the Meaning of Participation Fee? A participation fee is an amount you pay out-of-pocket to your car insurance provider every time you make a claim before the insurer shoulders the rest of the claim value. Participation fee payment is one of the requirements for most car insurance claims. As a policyholder, you’re required to “participate” in your car insurance cost. Essentially, this means you share in the expenses for repairing your damaged vehicle after an accident. Read more: Guide to Filing a Car Insurance Claim Why Do Car Insurance Providers Charge a Participation Fee? Car insurance companies require their clients to pay participation fees once they file a claim…

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9 Car Insurance Payment Options in the Philippines

To avoid any hassle when making your car insurance claim, you have to keep your policy active. So that your policy remains active, you need to make timely car insurance payments. Nowadays, car insurance companies in the Philippines make it easy and convenient for their clients to pay for their premiums on time, with various offline and online payment options available. Aside from paying in cash directly at the office of your provider, here are the different car insurance payment options you can choose from. Table of ContentsCar Insurance Payment Options in the Philippines1. Bank Deposit2. Online Banking3. Mobile Banking4. Bills Payment Centers/Apps5. Credit Card6. GCash7. Check Payment8. ATM Banking9. PayPalCan I Pay for My Car Insurance Policy in Installments?Which Payment Method Guarantees the Fastest Policy Delivery?Final ThoughtsGet a Free Car Insurance Quote! Car Insurance Payment Options in the Philippines 1. Bank Deposit You can make a car insurance payment in cash at any branch of your provider’s partner bank. Here are some of the companies that accept car insurance payment via bank deposit: Company Bank Moneymax BDO Charter Ping An Metrobank and PSBank Etiqa Life and General Assurance Philippines, Inc. BDO, BPI, Maybank, and UnionBank Malayan Insurance Co., Inc. RCBC, Security Bank, and UnionBank MAPFRE Insular Insurance Corp. BPI Paramount Life & General Insurance Corporation BPI Pioneer Insurance & Surety Corp. BPI Standard Insurance Company, Inc. BPI UCPB General Insurance Company, Inc. (COCOGEN) BDO and UCPB   How to Pay Car Insurance Policy via Bank Deposit Get a queue number at the bank’s entrance. Fill out a bills payment slip….

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How Much Does Car Insurance Cost in the Philippines?

Buying car insurance is a lot like buying a fire extinguisher: you pray that you’ll never need it, but you feel better knowing it’s there anyway. However, many car owners are concerned about auto insurance cost and whether they can afford it or not. You might be wondering: “Why does car insurance cost so much?” While you may think of the cost of car insurance as an added expense, it’s worth knowing that the annual premiums are there for a reason. You’re buying not just an insurance policy but also peace of mind knowing your budget won’t blow up should you need to bring your car to the casa for repair. What you can do is research on auto insurance costs, compare, and find the policy that fits your needs at a rate that fits your budget. Here’s what you should know about car insurance costs in the Philippines. Table of ContentsHow Much Does CTPL Insurance Cost?CPTL Insurance Price Range: PHP 650 to PHP 1,300 per yearHow Much Does Comprehensive Car Insurance Cost?Comprehensive Car Insurance Price Range: PHP 8,000 to PHP 30,000+ per yearFactors That Affect Comprehensive Car Insurance CostWhat to Consider When Shopping for a Comprehensive PolicyHow to Compute Your Car Insurance PremiumSample Premium Computation for Car InsuranceTable of Sample Premium for Different Car ModelsWhere to Get A Car Insurance Quote with Cost Breakdown:Looking Beyond Car Insurance PricesFinal Thoughts How Much Does CTPL Insurance Cost? CPTL Insurance Price Range: PHP 650 to PHP 1,300 per year In the Philippines, car owners are required to get Compulsory Third-Party Liability (CTPL). This…

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List of LTO Fees for Car Registration, Driver’s License, and Violations

Each transaction with the Land Transportation Office (LTO) comes with a fee—whether it’s for vehicle registration, driver’s license application or renewal, or settling a traffic rule violation. LTO fees are an inescapable reality every car owner in the Philippines must deal with. What’s worse than parting away with your money is getting shocked at the amount you’ll have to pay at the LTO office. Unpleasant surprises like that can be avoided if you know the exact fees that you’ll be charged beforehand. That, or bring extra cash to avoid the inconvenience of running to the nearest ATM. Before you head out to the LTO office, take note of these LTO fees to expect for each kind of transaction you’ll have with the government agency. Table of ContentsLTO Car Registration FeesMUVC Rates for Car RegistrationOther LTO Fees for Car RegistrationLTO Penalty Fees for Late Vehicle RegistrationLTO Fees for Driver’s License Application and RenewalLTO Violation FeesFinal ThoughtsGet a Free Car Insurance Quote! LTO Car Registration Fees In August 2018, reports surfaced about the Department of Finance’s proposal to increase the Motor Vehicle User’s Charge (MVUC). The MVUC is part of the LTO fees you pay when you register your vehicle. As of this writing, no executive order has been released yet by the Malacañang, so the present rates on the LTO website are the same. MUVC Rates for Car Registration Here are the MVUC rates for private cars in the Philippines based on vehicle type and gross weight: Vehicle Type Gross Weight MVUC Light passenger cars Up to 1,600 kg  PHP 1,600 Medium…

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Number Coding Guide for Filipino Motorists in 2020

What could be worse than being stuck in EDSA traffic while rushing to work? It’s when you get busted for number coding violation. You may blame your misfortune on the confusing rules or you may argue that you don’t know you’re not supposed to drive today due to coding. While those may be true, ignorance is never an excuse. Here’s your guide to the number coding scheme in the Philippines, so you can plan your daily trips accordingly. Table of ContentsWhat is Number Coding?What time is Number Coding?Number Coding Coverage AreasCoding AreasNo Coding AreasNumber Coding Window HoursWhat is Window Hour?No Window Hour PolicyFrequently Asked Questions About Number Coding1. What time is number coding in Pasig?2. Is the conduction sticker included in coding?3. When is number coding lifted?4. Are senior citizens exempted from coding?5. What is the penalty for number coding violation?Final Thoughts What is Number Coding? The number coding scheme is a traffic management program that aims to reduce the number of cars—and ultimately ease congestion—on the road. What time is Number Coding? Officially called the Unified Vehicle Volume Reduction Program (UVVRP), number coding in the Philippines bans vehicles on major thoroughfares in Metro Manila from 7 a.m. to 8 p.m. on a certain day of the week based on the last digit of their license plate. License Plate Ending Prohibited Days 1 and 2 Mondays 3 and 4 Tuesdays 5 and 6 Wednesdays 7 and 8 Thursdays 9 and 0 Fridays For example, if your license plate number ends in 0, you cannot drive your vehicle on Fridays along…

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Complete Guide to LTO Car Registration and Renewal

So you got a new vehicle, a sedan or maybe a top of the line SUV… Congratulations! Before testing out your ride, you need to make your ownership formal with the government. Car registration and renewal are essential in the Philippines and the LTO (Land Transportation Office) is the agency responsible for it. Get through the tedious LTO car registration and renewal process with this step-by-step guide. Table of ContentsLTO Online Car Registration and Renewal in GCQHow to Use the LTO Online PortalLTO Car Registration Process (for Brand New Vehicles)1. Prepare the required documents2. Visit an LTO office near youLTO Branches for Car RegistrationAddressContact Number3. Submit all required documents4. Submit your MVIR5. Pay the following car registration fees6. Receive your Certificate of Registration, plates, and stickers.LTO Car Registration Renewal ProcessLTO Car Registration Schedule:LTO Car Renewal Requirements:LTO Car Renewal Fees:LTO Inspection Process for MVIR1. Submit your requirements to the LTO receiving clerk2. Pay the corresponding fees3. Vehicle inspection4. Receive your inspection report and requirementsTips for LTO Car Registration and RenewalFinal ThoughtsGet a Free Car Insurance Quote! LTO Online Car Registration and Renewal in GCQ Do you have an expired LTO registration? To avoid direct contact and possible COVID-19 transmissions, the Land Transportation Office recently launched the LTO online portal amid the community quarantine. Motorists may now use portal.lto.gov.ph to ease “car registration and license application procedures, which may take some time and may necessitate close contact with other people — violating physical distancing protocols” according to LTO in a statement. This LTO online service has been made available for vehicles and licenses registered in…

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The Importance of Having Acts of God Insurance Coverage

This article was published on June 15, 2018 and was updated on January 13, 2020. Do you know that the Philippines is ranked as the third most disaster-prone country in the world (1)? We experience almost all forms of disasters such as typhoons, earthquakes, and volcanic eruptions. We never know when calamity will strike so it’s better to be safe than sorry. Keep yourself from the costs that come with a damaged vehicle brought by a natural disaster. If you are getting car insurance, make sure that you have Acts of Nature or Acts of God coverage. Table of ContentsWhat is Acts of God coverage?Why do I need Acts of God in my car insurance coverage?How can I get this type of car insurance coverage?Final Thoughts What is Acts of God coverage? Acts of God is a type of car insurance coverage that covers non-human and non-mechanical damage risks, attributable to natural phenomena. An Acts of Nature coverage may cover the following natural events: Flood Typhoon Hurricane Earthquake Volcanic eruption And even falling fruits (Yes, falling coconuts count.) The concept of the cover traces back to the Hammurabi Code, one of the first written laws. The code allowed a debtor to be saved from having to pay back borrowed money in the event of an uncontrollable personal catastrophe. These events include natural disasters, the same way that an Acts of Nature cover protects a car owner in the event of damage incurred due to storms and other calamities. Read more: First Time Driver? Here’s How to Get the Right Car…

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9 Tips to Protect Yourself When Buying a Used Car

You’ve decided to purchase a used car, and you’ve started to hunt for the right one for you. The next steps will be a lot trickier than the car buying decision. Of course, you want a vehicle in the best condition possible at the lowest price. Just because you’re buying a second-hand car doesn’t mean you’ll settle for a huge piece of junk, right? So you won’t end up regretting your purchase, be very meticulous and careful when buying a pre-owned vehicle. Here are some tips you need to know before buying a second-hand car. Table of Contents1. Research Your Options Extensively2. Compare Used Car Prices3. Check the Mileage4. Set a Reasonable Budget5. Dig Deeper into the Car’s History6. Check the Second Hand Car Thoroughly for Red Flags7. Never Skip the Test Drive8. Negotiate a Fair Price9. Don’t Forget InsuranceFinal Thoughts 1. Research Your Options Extensively Before contacting sellers, make sure you arm yourself first with enough knowledge about the used car model you want to buy and its price range. Ask for pointers and leads from your friends and colleagues who bought a second-hand vehicle. Join forums, especially the ones that focus on your target make or model, and ask questions. Check out the second-hand car listings on classifieds on newspapers and websites to know how much your preferred model costs. Read more: Brand New or Second Hand Car: Which is the Right Option for Me? 2. Compare Used Car Prices As you browse through different buy-and-sell websites scouring through second-hand cars for sale, make a price comparison of…

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