Participation Fee in Car Insurance: What Is It and Why Is It Needed?
- By Moneymax
- February 24, 2020
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 ThoughtsGet a Free Car Insurance Quote! 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…
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9 Car Insurance Payment Options in the Philippines
- By Venus Zoleta
- February 17, 2020
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?
- By Moneymax
- February 10, 2020
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 and Estimate 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…
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List of LTO Fees for Car Registration, Driver’s License, and Violations
- By Venus Zoleta
- February 3, 2020
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. Read more: Complete Guide to LTO Car Registration and Renewal How to Use the LTO Online Portal MUVC Rates for Car Registration Here are the MVUC rates for private cars in the Philippines based on vehicle type and…
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Number Coding Guide for Filipino Motorists in 2020
- By Venus Zoleta
- January 27, 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 ThoughtsGet a Free Car Insurance Quote! 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…
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Complete Guide to LTO Car Registration and Renewal
- By Mayee Gonzales
- January 20, 2020
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
- By Moneymax
- January 13, 2020
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 ThoughtsGet a Free Car Insurance Quote! 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…
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9 Tips to Protect Yourself When Buying a Used Car
- By Venus Zoleta
- December 16, 2019
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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10 Driving Tips to Make Late Night Driving Safer
- By Ricky Publico
- December 9, 2019
Shout out to all the night owls out there who prefer a night drive over the stress of dealing with daytime traffic. Indeed, driving at night has its benefits, whether it’s a long drive to the province or just a regular late night road trip. But obviously, it also requires extra effort and precaution to safely reach your destination. Here’s a refresher on how to drive safely at night. Table of ContentsHow to Have a Safe Night Drive1. Check Your Lights Before Going2. Give Your Windshield a Good Clean3. Do a Quick Car Maintenance Check4. Prepare a Roadside Emergency Kit5. Don’t Drive When It’s Raining Hard6. Always Keep Your Distance7. Keep Distractions to a Minimum8. Do Your Best to Stay Awake9. Watch Out For Pedestrians10. Keep Your Eyes in Good HealthFinal Thoughts How to Have a Safe Night Drive 1. Check Your Lights Before Going Basically, your headlights will serve as your eyes on the road, so make sure they are all in good working condition before you venture to your night drive. If you need a replacement, do it immediately and spare no expense on high-grade night headlights. Don’t forget to check your brake lights and turn signals too as a way of helping out the drivers behind you. 2. Give Your Windshield a Good Clean Your windshield may appear clean during the day, but street lights during the night may reveal streaks and cause glare that will obstruct your view while driving. Make sure your windshield is spotless, both inside and outside. Remove any dirt and debris to…
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Holiday Gift Guide 2019: Cool Car Gifts for Car Lovers
- By Ricky Publico
- December 5, 2019
Christmas is not only for the children—it’s literally for everyone else, too. That means giving gifts to everyone close to you, not just your kid relatives. Shopping for others is easy enough, but what if they have specific interests like vehicles and driving? Luckily, car gifts aren’t that hard to find. Last week, we took care of the best gift ideas for your tech-savvy family and friends. This week, we’re going to find the best Christmas gifts for car lovers. From car accessories to fashion choices that suit their road lifestyle, here are some great car gifts you should check out. Table of ContentsCar Gifts Within PHP 1,000Sparco Neck PillowSpigen A201 Magnetic Car MountNeo-Tridagger ZMC Carbon SpecialCar Gifts Under PHP 2,000Goodyear Car Vacuum Cleaner GDY2110Ray-Ban Privé RevauxTurtle Wax Jet Black Black Box Finish KitCar Gifts Under PHP 5,000Mango Volume Sole Suede MoccasinsCoido Tire Inflator with LightBlade Rearview Mirror with Full HD DashcamFinal Thoughts Car Gifts Within PHP 1,000 Sparco Neck Pillow Price: PHP 699.75 Best Christmas gift for: Car owners who drive for long hours Driving in the Philippines is stressful. What better way to make it bearable than providing comfort to the car owners in your life? This Sparco neck pillow will definitely take the edge off dealing with traffic, thanks to its universal easy installation and its high-density foam. They’re probably in the market for comfortable car accessories anyway, so make it happen. Available at: Ace Hardware Spigen A201 Magnetic Car Mount Price: PHP 1,100 Best Christmas gift for: Grab drivers, commercial car owners Know anyone who drives…
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Brand New or Second Hand Car: Which is the Right Option for Me?
- By Venus Zoleta
- December 2, 2019
Prices of brand new cars in the Philippines have gone up in 2019, following the higher excise taxes imposed by the TRAIN or tax reform law. It’s now harder to afford a new car than a few years back. Because of this, second-hand car dealers are expecting more Pinoys to turn to the used car market, at least for the next three to four years. It makes sense—with a limited budget, your choices could as well be limited to the affordable options. Used cars are obviously the cheaper alternative to new cars. Is a second-hand car really a wiser purchase than a brand-new one? Or is it the other way around? The right choice varies from one car buyer to another. Table of Contents5 Reasons to Buy a Second-Hand Car1. You Can’t Afford Your Desired Model2. You Prefer to Pay in Lump-Sum Cash3. You Want to Buy a Phased-Out Model4. You Want Lower Car Insurance Costs5. You Plan to Resell the Car in the Future5 Reasons to Buy a Brand-New Car1. You’ll Purchase via a Car Loan2. You Need a Car ASAP3. You Don’t Want to be Bothered with Frequent Repairs and Maintenance4. You Want to Save Money on Gas5. You Have No Plans of Reselling the CarFinal Thoughts 5 Reasons to Buy a Second-Hand Car Checking out second-hand cars for sale in the Philippines? A used or pre-owned vehicle is a better option for these situations. 1. You Can’t Afford Your Desired Model If you have a specific vehicle year, make, and model in mind but its brand-new version doesn’t fit your…
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7 Types of Car Insurance Claims You Can File in the Philippines
- By Moneymax
- November 25, 2019
This article was published on October 8, 2018 and was updated on November 25, 2019. Got into an accident or an emergency involving your car? In such circumstances, it’s either you pay for vehicle repair and medical expenses out of your pocket or make a car insurance claim. Both have their pros and cons depending on the situation. For example, if the accident involves only you and your car, and your total repair and/or medical expenses are lower than your deductibles, the more practical choice is to forego making a claim and pay for them on your own instead. However, filing a car insurance claim makes more sense if the accident caused damage to another car and/or injured or killed another person. In such a case, you can request your car insurance provider to pay for or reimburse the expenses according to the terms of your policy. When making a claim, the insurer will ask you to specify your claim type before proceeding with the car insurance claims processing. So before you contact your insurance provider or broker, familiarize yourself first with the different types of claims in the Philippines. Read more: How to File Car Insurance Claim and Other Things to Consider Table of ContentsDifferent Types of Car Insurance Claims1. Acts of Nature Claim2. Own Damage Claim3. CTPL Claim4. Excess Bodily Injury Claim5. Third-Party Property Damage Claim6. RSMD Claim7. Towing Reimbursement ClaimFinal ThoughtsGet a Free Car Insurance Quote! Different Types of Car Insurance Claims 1. Acts of Nature Claim What is an Acts of Nature or Acts of God Claim? If…
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8 Car Insurance Add-ons You Need to Consider
- By Moneymax
- November 18, 2019
Getting a comprehensive car insurance policy is a smarter decision than just settling for the government-mandated Compulsory Third Party Liability (CTPL) insurance. Comprehensive insurance provides better protection against the financial impact of car damage and theft, personal accident, and property damage, among others. Read more: Basic Types of Car Insurance Coverage Explained But don’t be misled into thinking that “comprehensive” means “complete” in car insurance. Some benefits you need as a motorist may not be included in the standard package and are instead offered as optional car insurance add-ons or riders. Here are eight car insurance add-ons or riders to consider when purchasing a car insurance policy in the Philippines. Table of Contents1. Roadside AssistanceRoadside assistance may include the following benefits:2. Acts of Nature or Acts of GodActs of Nature may cover these natural events:3. Personal Effects Coverage4. Loss of Use5. Riots, Strikes, and Civil Commotion Coverage6. Lost Wage Recovery7. Pet Injury Coverage8. Legal AssistanceFinal ThoughtsGet a Free Car Insurance Quote! 1. Roadside Assistance Roadside assistance from an insurance provider is extremely helpful when your car breaks down due to electrical or mechanical issues, flooding, or a road accident. During a roadside emergency, just ring your insurance company and let them know what happened, and help will be on the way. When choosing an insurance policy, make sure your car insurance add-ons include a 24/7 roadside assistance coverage. This will save you from the headache of dealing with your stalled vehicle alone on the road. Roadside assistance may include the following benefits: Vehicle assistance Emergency towing Vehicle removal using a crane…
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Car Rental Companies: Finding the Best Car for Rent Deal
- By Venus Zoleta
- November 4, 2019
Looking for the cheapest car rental service in the Philippines? Here’s the thing about saving money when renting a car: the price isn’t the only thing to consider when choosing the best rent-a-car company. Cheaper doesn’t necessarily mean better. Of course, you need to stay within your budget. But you also have to look at other things that drive car rental prices: service, vehicle selection, hidden fees, inclusions and limitations, and other terms and conditions. The car rental provider’s garage locations and vehicle safety features are important considerations as well. Check these things between different rent-a-car service providers. There has to be a balance between the price and the quality of service that a car rental company provides. In this guide, we’ll compare some of the top car rental companies in the Philippines. Table of ContentsCar Rental LocationsCar Rental in Manila, Cebu, Davao, and Other CitiesCar for Rent ServicesCar Rental Service ComparisonVehicle SelectionWhat’s the Right Vehicle Type for Your Needs?Vehicle Selection ComparisonVehicle Condition and FeaturesCar Rental PricesWhat Affects Car Rental Prices?How to Compare Car Rental Rates?Package Inclusions and ExclusionsExtra Fees and ChargesFinal Thoughts Car Rental Locations When shopping around for car rental companies, the first thing you have to check is each provider’s pick-up and drop-off points. You want to make sure that the car rental location is accessible to you. Ideally, it’s located nearest your home, at the airport where you’ll arrive, or at the hotel where you’re staying. This way, you won’t be as hassled when picking up and returning the rental car. Car Rental in Manila, Cebu, Davao, and Other…
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Grab Insurance Guide for TNVS Operators in the Philippines
- By Moneymax
- October 28, 2019
A vehicle owner in the Philippines can make money from being a ride-hailing service operator or driver. Whether you’re looking for a part-time or full-time job, registering as a Grab Peer will add to your primary source of income. If you’re thinking of signing up as a GrabCar operator, check the step-by-step registration procedure here. Aside from joining the Grab platform, ride-sharing service operators are required by the Land Transportation Franchising and Regulatory Board (LTFRB) to register their vehicles under the category of Transportation Network Vehicle Service (TNVS). This will grant them a Certificate of Public Convenience (CPC), which authorizes them to operate around Metro Manila and key cities nationwide. Operators without a CPC may be apprehended. Once you’ve submitted your requirements for TNVS registration, you’re required to apply for PAMI insurance (1) on top of your existing car insurance policy. Keep reading to learn more about PAMI insurance, as well as Grab insurance for TNVS drivers and passengers in the Philippines. Table of ContentsHow to Insure GrabCar Through PAMI InsuranceWhat is PAMI Insurance?What Does PAMI Insurance Cover?How to Apply for PAMI InsuranceHow to Claim PAMI InsuranceHow to Insure GrabCar Through Grab InsuranceWhat is Grab Personal Accident Insurance?What Does Grab Insurance Cover?How to Claim Grab Insurance for Personal AccidentFinal ThoughtsGet a Free Car Insurance Quote! How to Insure GrabCar Through PAMI Insurance What is PAMI Insurance? PAMI stands for Passenger Accident Management and Insurance Agency, Inc., a management company that implements the passenger personal accident insurance program. It’s one of the LTFRB’s partners (the other being SSCI Management and Insurance Agency…
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10 Car Insurance Myths You Should Stop Believing
- By Venus Zoleta
- October 21, 2019
When it comes to car insurance, Pinoys worry a lot about the cost, coverage, and claims processing. But if you research and read up on car insurance myths and facts, you’ll realize that some of your assumptions about insurance could actually be incorrect. Are your beliefs about car insurance accurate? Know the real score and be enlightened. Here are the car insurance myths in the Philippines that should be debunked. Table of Contents1. Car Insurance Premiums are Expensive2. Red Cars are More Expensive to Insure3. Car Insurance Cost is the Only Thing That Matters4. Having CTPL Insurance is Good Enough5. Comprehensive Car Insurance Automatically Covers Acts of Nature6. Personal Car Insurance Covers Business Use of the Car7. Car Insurance Covers Personal Items Inside the Vehicle8. If Someone Else Drives My Car, That Person’s Insurance Must Cover the Damages9. Claims Processing is Tedious and Complicated10. Making a Claim Will Raise the PremiumFinal ThoughtsGet a Free Car Insurance Quote! 1. Car Insurance Premiums are Expensive This is a sweeping generalization about car insurance costs in the Philippines. Although insurance premiums for certain vehicle types and models (i.e., luxury cars, sports cars, etc.) are higher, not all cars are expensive to insure. You’d be surprised to learn that many cars in the Philippines can be insured for as low as PHP 7,000 to PHP 12,000 per year (equivalent to just PHP 1,000 or less per month). This is especially true for most hatchbacks and sedans from manufacturers like Suzuki, Honda, Mitsubishi, and Toyota. Aside from choosing a car that’s cheap to insure, there…
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First Time Driver? Here’s How to Get the Right Car Insurance for You
- By Venus Zoleta
- October 14, 2019
Being a new and young driver comes not only with perks but also responsibilities, like maintaining your car regularly, driving safely, knowing and obeying the traffic signs and rules, and getting a driver’s license. An equally important but often overlooked task: getting one’s car insured. Before you hit the road and enjoy your newfound freedom, make sure you have the right insurance for first time drivers. This means getting a policy with enough coverage at the right cost. This way, you won’t be burdened too much with repair bills should something happen to your car, another person or property, or yourself after an accident. Here are some tips on choosing car insurance for first time drivers in the Philippines. Table of Contents1. Pick the Right Car2. Figure Out the Car Insurance Coverage You NeedMust-Have Coverage on Insurance for First Time Drivers3. Compare Car Insurance Quotes4. Choose the Right Car Insurance Company5. Decide Where You’ll Buy Car Insurance6. Understand the Policy Before Buying ItFinal ThoughtsCompare Car Insurance Quote from Top Providers 1. Pick the Right Car Several factors drive the cost of car insurance up or down, including the vehicle’s price, type, and safety. This is why some vehicles cost more to insure than others. For example, luxury brands like Mercedes-Benz and BMW are more expensive to insure than the likes of Suzuki, Toyota, Honda, and Mitsubishi. In terms of vehicle type, hatchbacks and sedans are cheaper to insure than SUVs and sports cars. Cars that are safe to drive tend to have lower insurance prices than cars that are accident-prone….
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Cars for Sale in the Philippines: Top Places to Score New Wheels
- By Venus Zoleta
- October 7, 2019
Buying your first car is an exciting yet overwhelming experience. There are plenty of decisions to make. Should I buy a brand-new or used car? What’s the right model for me? How will I finance a car purchase? And of course, the most important questions you should be asking yourself are: Where do I find cars for sale in the Philippines? Which dealership can help me pick the perfect car for the best price? To help you choose the right dealership, we’re listing the best car dealers as well as online marketplaces for new and second-hand cars for sale in the Philippines. Table of Contents7 Best Car Dealers in the Philippines to Find Cars for Sale1. Honda Cars Philippines2. Mazda Philippines3. Mitsubishi Motors Philippines4. Toyota Motor Philippines5. Nissan Philippines6. Hyundai Philippines7. Automobilico3 Best Websites to Find Cars for Sale in the Philippines1. Carmudi Philippines2. AutoDeal3. Philkotse.comFinal Thoughts 7 Best Car Dealers in the Philippines to Find Cars for Sale 1. Honda Cars Philippines Honda car buyers in the Philippines are the happiest in their new vehicle purchase and delivery experience. In fact, the Japanese carmaker takes the top spot in terms of overall sales satisfaction in the J.D. Power 2019 Philippines Sales Satisfaction Index[1]. The latest J.D. Power study findings were based on different factors that contribute to the satisfaction of customers with their car buying experience. These factors include sales consultant, dealer facility, delivery process, paperwork completion, working out the deal, and dealer website. The study also measured how likely a new car owner would recommend their vehicle brand….
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Fully Paid Car Loan? Here’s What You Should Do Next
- By Venus Zoleta
- September 30, 2019
So, you’ve finished paying the monthly amortizations for your car loan. You’re probably wondering what will happen at the end of your auto loan term. Most people think that after paying off a car loan in the Philippines, the vehicle is theirs without having to do anything. But technically, the bank that provided the loan still owns the unit. You have to do several things shortly after you’re fully paid on the loan, so you can finally become the true owner of the car. Here’s what you should do next after paying off your car loan in the Philippines. Table of Contents1. Confirm Availability of Your Collateral Documents2. Claim Your Collateral Documents from the Bank3. Have Your Chattel Mortgage Cancelled4. Go to LTO for Cancellation of EncumbranceLTO Requirements for Cancellation of MortgageSteps to File for Cancellation of Mortgage/Encumbrance at the LTO5. Renew Your Car Insurance PolicyFinal Thoughts 1. Confirm Availability of Your Collateral Documents Around 10 to 15 banking days after your final car loan payment, the bank will notify you about the availability of your original collateral documents for release. If you haven’t heard from the bank after that period, call its customer service hotline to ask for confirmation of your full payment and when the documents will be ready for pickup. Some banks like BDO require setting an appointment to claim the collateral documents. If your car was financed through a BDO auto loan, set a schedule online here. Before claiming your documents from the bank, check if your car registration is valid and updated. Make sure your…
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How Much Does Honda Car Insurance Cost in the Philippines?
- By Venus Zoleta
- September 16, 2019
Wondering how much it will cost you to insure a Honda car? You’ll be glad to know that Honda car insurance prices in the Philippines are budget-friendly, especially the entry-level hatchback and sedan models. Insuring a Honda model starts at only around PHP 10,000 per year. Here are the cheapest Honda car insurance prices for the most popular models from the Japanese car manufacturer. Table of ContentsHonda Car Insurance: Lowest Annual Premium Cost per ModelHonda ModelCheapest Annual PremiumCar TrimGet a Free Car Insurance QuoteHonda City Car Insurance CostCheapest Annual Premium: PHP 10,957 (2019 Honda City E 1.3L Gas M/T)Honda Jazz Car Insurance PriceCheapest Annual Premium: PHP 12,574 (2019 Honda Jazz EX 1.5L Gas A/T)Honda Brio Car Insurance PriceCheapest Annual Premium: PHP 12,644 (2019 Honda Brio S 1.3L Gas M/T)Honda Brio Amaze Car Insurance PriceCheapest Annual Premium: PHP 12,957 (2019 Honda Brio Amaze E 1.3L Gas M/T)Honda Mobilio Car Insurance PriceCheapest Annual Premium: PHP 15,580 (2019 Honda Mobilio E 1.5L Gas M/T)Honda BR-V Car Insurance PriceCheapest Annual Premium: PHP 17,810 (2019 Honda BR-V S 1.5L Gas A/T)Honda CR-V Car Insurance PriceCheapest Annual Premium: PHP 20,282 (2019 Honda CR-V EX 2.4L Gas A/T)Honda Civic Car Insurance PriceCheapest Annual Premium: PHP 21,335 (2019 Honda Civic E 1.8L Gas A/T)Honda HR-V Car Insurance PriceCheapest Annual Premium: PHP 21,935 (2019 Honda HR-V E 1.8L Gas A/T)Honda Accord Car Insurance PriceCheapest Annual Premium: PHP 24,676 (2019 Honda Accord EX 3.5L Gas A/T)Final Thoughts Honda Car Insurance: Lowest Annual Premium Cost per Model Honda Model Cheapest Annual Premium Car Trim Honda City PHP 10,957 2019 Honda City…
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