All Articles With Category : Car Insurance

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

LTO Student Permit Application Guide for First-Time Drivers

Driving a car for the first time? You need to have a license to drive legally in the Philippines. But before you can qualify for a driver’s license, you have to apply first for a student license at the Land Transportation Office (LTO). Here’s a guide to help you with your student permit application. Table of ContentsLTO Online Application for Student PermitWhat is an LTO Student Permit?What’s the Difference Between Student Permit and Driver’s License?Can I Drive with a Student Permit Only?Is the LTO Student Permit a Valid ID?LTO Requirements for Student PermitStudent License RequirementsHow Much is the Student License Fee?How to Get a Student License from LTOSteps to Get Student Driver License:4 Tips for Student Permit Applicants and Holders1. Undergo Medical Exam at an LTO-Accredited Clinic2. Bring Enough Cash for the Medical Exam and Student License Fee3. Apply for a Driver’s License Before Your Student Permit ExpiresFinal ThoughtsGet a Free Car Insurance Quote! LTO Online Application for Student Permit Students may now apply for their LTO permit online via the LTO web portal. Below are the steps in doing so. Visit portal.lto.gov.ph and click enroll as an individual. This is the Land Transportation Management System (LTMS) public portal that you can access on desktop, mobile, and tablet. Create an LTO online appointment for student permit at your preferred LTO branch. Pay your fees online. Note that LTO fines, car registration and renewal, and motor vehicle inspection services can be paid here as well. What is an LTO Student Permit? An LTO student permit, sometimes called student license, is an…

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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 LTO (Land Transportation Office). How? By going through the LTO car registration process. What if you already did? Then your registration has probably expired and you’re due for renewal. Car registration and renewal are essential in the Philippines and the LTO is the agency responsible for it. Get through the tedious system with the following step-by-step guides. Table of ContentsHow to Do the Registration and Renewal OnlineHow to Use the LTO Online PortalRegistration Process for New VehiclesStep 1: Prepare the required documentsStep 2: Visit an LTO office near youStep 3: Submit all required documentsStep 4: Submit your MVIRStep 5: Pay the following car registration feesStep 6: Receive your Certificate of Registration, plates, and stickers.Car Registration Renewal ProcessScheduleLTO Renewal RequirementsLTO Renewal FeesLTO Inspection Process for MVIRStep 1: Submit your requirements to the LTO receiving clerkStep 2: Pay the corresponding feesStep 3: Vehicle inspectionStep 4: Receive your inspection report and requirementsLTO Car Registration and Renewal TipsFinal ThoughtsGet a Free Car Insurance Quote! How to Do the Registration and Renewal Online Do you have an expired LTO registration? To avoid direct contact and possible COVID-19 transmissions, the Land Transportation Office 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…

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How Much Does Car Insurance Cost in the Philippines?

Buying insurance for your vehicle 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 and whether they can afford it or not. You might be wondering: “Why are car insurance prices in the Philippines expensive?” While you may think that it 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. Table of ContentsCar Insurance Prices for Comprehensive Car InsurancePrice Range: PHP 8,000 to PHP 30,000+ per yearFactors That Affect Comprehensive Car Insurance Prices in the PhilippinesWhat to Consider When Shopping for a Comprehensive PolicyTypes of Coverage to Consider When Buying a PolicyHow to Compute and Estimate Your PremiumSample Premium ComputationTable of Sample Premium for Different Car ModelsWhere to Get a Quote:Looking Beyond Car Insurance Prices in the PhilippinesFinal Thoughts Car Insurance Prices for Comprehensive Car Insurance Price Range: PHP 8,000 to PHP 30,000+ per year Aside from the basic CTPL coverage, you may also opt to extend your auto insurance to cover other untoward incidents such as road accidents, car theft, or natural calamities. Extending your coverage can be helpful if you’ve invested in…

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

Toyota remains the undisputed best-selling car brand in the Philippines, leading the automotive market with around 40% share of the sales in 2020[1]. This despite the overall decline in car sales due to the COVID-19 pandemic and the series of typhoons in the latter part of the year. Also, the Japanese carmaker has among the most talked-about vehicle models, at least in the Philippines. Out of the 10 most popular cars launched in the country in 2020[2], six are Toyota models: Fortuner, Rush, Hilux, Wigo, Corolla Cross, and Hiace. If you recently bought or are considering to get a Toyota, its affordable selling price is most likely the key factor in your purchase decision. And it makes a lot of sense—in these financially challenging times—to look for the cheapest Toyota car insurance price for your new ride. Keep reading to get an idea of how much it will cost you to get a Toyota car insurance policy. Table of ContentsIs Toyota Expensive to Insure?Lowest Annual Toyota Car Insurance Price per ModelGet a Free Car Insurance Quote for Your ToyotaToyota Wigo Insurance PriceCheapest Annual Premium: PHP 11,245Toyota Vios Insurance PriceCheapest Annual Premium: PHP 12,973Toyota Innova Insurance PriceCheapest Annual Premium: PHP 13,885Toyota Hilux Insurance PriceCheapest Annual Premium: PHP 14,740Toyota Rush Insurance PriceCheapest Annual Premium: PHP 16,863Toyota Yaris Insurance PriceCheapest Annual Premium: PHP 16,891Toyota Corolla Altis Insurance PriceCheapest Annual Premium: PHP 18,520Toyota Hiace Insurance PriceCheapest Annual Premium: PHP 24,684Toyota Fortuner Insurance PriceCheapest Annual Premium: PHP 26,976Toyota FJ Cruiser Insurance PriceCheapest Annual Premium: PHP 33,850Final Thoughts Is Toyota Expensive to Insure? Toyota motor insurance…

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The Consequences of Not Getting Car Insurance

These days, owning a car is necessary. It not only gets you from Point A to Point B, but it can also be a source of livelihood by registering the vehicle with a ride-sharing or delivery app. And while many people recognize that cars are an asset, only a few do something to keep theirs protected. You may have this impression that it is okay to drive without insurance. But the road is full of forks, twists, turns, and other unpredictable variables. Having a car insurance policy will help reduce risk and even neutralize the effects of an untoward incident. This guide will help you understand the consequences of not having car insurance. Along the way, you will also be able to pick up some insights on how you should choose the right car insurance policy. Table of ContentsThe Consequences of Driving Without Car InsuranceYou Have to Settle Upfront CostsYou May Face Legal ChargesYou Have to Pay for Expensive Vehicle RepairsYour Business Might Get AffectedHow to Choose the Right Car Insurance for YouCompare and Choose the Right Car Insurance ProviderFinal Thoughts The Consequences of Driving Without Car Insurance You may already feel some sense of security with a compulsory third-party liability insurance or CTPL. This type of car insurance is required by the government[1], and if you get involved in an accident without one, you will have to pay a penalty. However, CPTL is a basic car insurance policy that only covers third-party victims. Basically, CTPL only covers the injury or death of a third party involved in the accident….

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8 Reasons to Take Driving Lessons (And Where to Have Them)

Let’s cut to the chase: Yes, you should enroll in a driving school—even if it costs you money. Consider how much more you’ll spend when you figure in a road accident because you lack proper training as a driver, something that a good driving school can provide. You might be thinking: “But my dad can teach me how to drive—and it’s free!” Well yes, you can learn driving that way. However, nothing compares to getting a quality driver’s education from professional instructors. The Land Transportation Office (LTO) now also require a driving course completion certificate before accepting and processing license transactions. Learn more about this below and other reasons why attending a driving school in the Philippines is well worth your penny. Table of ContentsWhy You Should Attend Driving School in the Philippines1. You Need it to Get a Driver’s License2. Learn from Certified Professionals3. Get Structured Driving School Training4. Reduce Your Risk of Getting Into an Accident5. Learn Car Maintenance6. Prevent Damage to Your New Car7. Get Help for Your Driver’s License Application8. Gain Confidence on the RoadDriving Schools in the Philippines Accredited by the LTO1. A-1 Driving School2. Honda Safety Driving Center3. Precision Driving School4. Prestige Driving School5. Smart Driving School6. Socialites Driving Institute7. Universal Driving SchoolFinal Thoughts Why You Should Attend Driving School in the Philippines 1. You Need it to Get a Driver’s License Basically, if you want a driver’s license, then you need to attend a driving school in the Philippines. All LTO sites now require a Theoretical Driving Course (TDC) certificate before issuing a driver’s license[1]. The…

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Flood-Prone Areas to Avoid in Metro Manila and Nearby Provinces

Rainy season is here and with it comes the hassle of commuting. From June to July—even until November, people will experience more train breakdowns, more traffic jams, and worst of all, heavily-flooded roads. It’s best to avoid flood-prone areas if you don’t want to be stranded on the road hungry and soaking wet. Traffic in Metro Manila is in its worst state when it’s flooding, when it’s a Friday, and when it’s a payday. We all expect it and we prepare for it by leaving work early or by taking alternate roads. Flooding, however, doesn’t only affect traffic. It also affects vehicles–it can damage cars and make it unusable. Avoid such hassle by being a wiser driver and a smarter commuter. Below is a list of flood-prone areas in Metro Manila and nearby provinces: Table of ContentsFlood-Prone Areas in Metro ManilaFlood-Prone Areas in CaloocanFlood-Prone Areas in Las PiñasFlood-Prone Areas in MakatiFlood-Prone Areas in MalabonFlood-Prone Areas in MandaluyongFlood-Prone Areas in ManilaFlood-Prone Areas in MarikinaFlood-Prone Areas in MuntinlupaFlood-Prone Areas in NavotasFlood-Prone Areas in ParañaqueFlood-Prone Areas in PasayFlood-Prone Areas in PasigFlood-Prone Areas in PaterosFlood-prone Areas in Quezon CityFlood-Prone Areas in San JuanFlood-Prone Areas in TaguigFlood-Prone Areas in ValenzuelaFlood-Prone Areas Neighboring ProvincesFlood-Prone Areas in CaviteFlood-Prone Areas in RizalFlood-Prone Areas in BulacanFlood-Prone Areas in PampangaHow to Identify Flood-Prone Areas?How Can You Be Ready?Final Thoughts Flood-Prone Areas in Metro Manila Flood-Prone Areas in Caloocan Rizal Avenue ITC Compound near General Luis St. General Pio Villanueva St. to Lapu-Lapu St. Roxas St. to Baltazar St., West Gracepark Sabalo St. to Libis Talisay East Gracepark P. Rizal Extension to San Miguel St. Flood-Prone Areas in Las Piñas Naga Road Quirino Avenue Alabang-Zapote Road Tramo Line…

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Flooded Car Problems to Watch Out for in the Rainy Season

The rainy season is here again and along with it comes one of the car owner’s worst enemies: flooding. Recent typhoons namely Typhoon Rolly and Typhoon Ulysses damaged hundreds (or maybe even thousands) of vehicles nationwide[1]. With the high level of water, even pick-ups and SUVs were not safe from flooded car problems. Be prepared when flooding strikes. If you live in a flood-prone area, it’s best to evacuate your vehicle to higher ground. However, there’s still a chance that flood may get inside your vehicle. So keep on reading to know what to do with a water flooded car and the problems that may arise from it. Table of ContentsWhat to Do With a Water Flooded Car1. Dry your vehicle2. Do not start your car3. Check the engine oil and fuel system4. Check your electrical system5. Seek help from a professional6. Document everything7. Consider trading your vehicle7 Typical Flood-Damaged Car Problems1. Malfunctions in the Electronics and Electrical System2. Mechanical Damage to the Engine3. Mold and Mildew in the Interior4. Mud and Debris in Hard-to-Clean Areas5. Corroded Car Parts6. Slippery Brakes7. Contaminated FluidsFinal Thoughts What to Do With a Water Flooded Car Floodwater causes a lot of car problems that show up long after the vehicle has been submerged. It can ruin a vehicle’s electrical systems, mechanical systems, and lubricants. Flood-damaged cars are costly to repair, so never risk it—avoid passing through a flooded area. Wait for the floodwater to subside before driving on. But sometimes, cars still get flooded while they’re stuck in traffic or parked in flood-prone areas. When…

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6 Reliable Auto Repair Shops in Metro Manila for Car Repair and Maintenance

Car breakdowns are inconvenient but inevitable. If you drive a private vehicle, you know how frustrating it can be to deal with the hassle of taking your car to a service center and shelling out a sizable chunk of cash. That’s why smart car owners maintain their car regularly. Periodic maintenance is less troublesome than a one-time, hard-hitting repair. Typically, you can go to a casa for regular servicing as long as you’re still entitled to a warranty. However, once the warranty period is over, the more practical thing to do is to go to an auto repair shop that offers repair and replacement parts for lower prices. Table of ContentsWhy is it Important to Know a Good Auto Repair Shop?Qualities of a Reliable Car Service Center1. Mechanics Regard Their Craft with Integrity2. Employees are Focused and Committed3. The Service Floor is Clean and TidyWhat is the Average Labor Cost for Auto Repair?Top Auto Repair Shops in Metro Manila1. Goodyear Servitek2. ValuePlus3. Centennial Auto4. Ziebart and CarSavers5. Motech 6. RapideFinal Thoughts Why is it Important to Know a Good Auto Repair Shop? A good auto repair shop can give you the best car services, providing you some peace of mind. Proper auto repair is particularly important if you’ve been in a road accident. You may need some car parts repaired and replaced, overall decreasing the value of your vehicle. If you do not have car insurance, a car service center can ensure that you can go back safely on the road. Qualities of a Reliable Car Service Center Sometimes, when you walk…

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Malayan, Philippine Leader in Non-Life Insurance, Partners With Online Broker Moneymax

MANILA, PHILIPPINES – OCTOBER 2020. Malayan Insurance, the Philippines’ leading non-life insurance company, partners with Moneymax, an online comparison platform and licensed insurance broker. The digital partnership for car insurance is part of the digital transformation plans by Malayan Insurance, accelerated even more by the community quarantine brought about by the COVID-19 pandemic. On the other hand, Malayan Insurance becomes Moneymax’s biggest car insurance partner to date. Table of ContentsGetting the Right Car Insurance Made Easier by Malayan and MoneymaxBringing Top-Notch Customer Service in the PhilippinesAbout MoneymaxAbout Malayan Insurance Getting the Right Car Insurance Made Easier by Malayan and Moneymax With a Gross Premium Written (GPW) of more than ₱10 billion in 2019, Malayan continues to be the country’s leader in non-life insurance products. Apart from car insurance, Malayan also offers aviation, engineering, marine, personal accident, surety, and fire insurance. The company takes pride in its ability to settle all “just and valid claims” and has taken steps to automate its claims processing. With the addition of Malayan on the Moneymax website, both companies will be able to improve their ability to help Filipinos find comprehensive car insurance coverage that fits their needs. Moneymax’s online comparison platform allows users to easily view and compare different car insurance policies as well as other financial products. Greg Aguilar, Moneymax Head of Business Development shares: “We’re incredibly excited to be partnering with Malayan, the leading non-life insurer in the Philippines, to provide greater accessibility to their comprehensive car insurance product. This partnership reaffirms our position in the industry as the leading comparison platform…

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5 Reasons Why Your Business Needs Commercial Auto Insurance

We all know that having car insurance on a personal vehicle is important. It’s a requirement when you get a car loan or registering your car with the Land Transportation Office. Car insurance also helps protect you from draining your finances should an accident, disaster, or car damage happen.  However, auto insurance isn’t exclusive to cars for personal use. As a business owner, you can also get commercial auto insurance meant to protect you, your employees, and vehicles while on the road. As a business owner, it’s essential to protect the vehicle that helps run your business, particularly if you use it on your day-to-day operations. Keep on reading to know more about business car insurance in the Philippines and why you need to get one. Table of ContentsWhat is Commercial Auto Insurance?How Much Does Commercial Auto Insurance Cost?Why Do I Need Commercial Auto Insurance?1. It’s Riskier to Drive a Commercial Vehicle Than a Personal Vehicle2. Commercial Auto Insurance Protects Your People, Products, Equipment, and Vehicle3. Business Auto Insurance Provides Better Coverage4. Your Business Needs Higher Insurance Limits5. Your Personal Car Insurance Won’t Cover Your Vehicles Used for BusinessList of Commercial Auto Insurance Providers in The PhilippinesHow to Choose the Right Car Insurance for BusinessFinal ThoughtsGet a Free Car Insurance Quote! What is Commercial Auto Insurance? Commercial auto insurance is a policy designed especially for vehicles used by or for a business. Commercial vehicles are cars with commercial value and are used commercially[1].  Sports utility vehicles (SUVs), vans, pickup, and other large motor vehicles may be considered as commercial vehicles….

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The Importance of Car Insurance: 6 Benefits for Car Owners

You might think that car insurance is just another expense added to your monthly bills. However, vehicle insurance gives you a safety net when unfortunate incidents happen to you, your loved ones, and your vehicle. You may not prevent an accident from happing, but you can protect yourself if or when it happens. Keep on reading to know more about the importance of car insurance and how you can choose the right one for your needs. Table of ContentsThe Importance of Car Insurance: Why Should I Have One?1. Car insurance is required by law2. It protects you from theft3. Covers damages caused by disasters4. No up-front expenses5. Easy claims process6. Saves you money in the long runHow Do I Choose the Right Car Insurance?Determine your needsCompare and ask aroundEvaluate car insurance benefits and featuresConsider a customized policyChoose an insurance provider that offers flexible payment optionsFinal Thoughts The Importance of Car Insurance: Why Should I Have One? 1. Car insurance is required by law Every registered vehicle in the Philippines must get at least a basic Compulsory Third Party Liability (CTPL) car insurance. This policy protects you from any possible liabilities to a third party—any person other than a passenger, a family member, or a household member of the vehicle’s owner. CTPL is also one of the requirements before you can  register your car to the Land Transportation Office[1]. 2. It protects you from theft The importance of vehicle insurance shouldn’t be ignored, especially when hundreds of cars are stolen yearly[2]. We’ve all heard horror stories of people stealing someone else’s…

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Prudential Guarantee Strengthens Auto Insurance Program Through Partnership with Moneymax

MANILA, PHILIPPINES – SEPTEMBER 2020. Prudential Guarantee and Assurance, Inc. (PGAI), one of the country’s leading non-life insurance companies, partners with Moneymax to make its auto insurance program more accessible to a wider audience. Both companies aim to help Filipinos financially protect their vehicles without leaving the comfort of their homes. This is also part of PGAI’s effort to increase the use of digital processes and expansion of their car insurance services. Table of ContentsPrudential Guarantee x Moneymax: A Milestone for Both CompaniesClient Convenience and Safety, Always a Top PriorityAbout Moneymax Prudential Guarantee x Moneymax: A Milestone for Both Companies PGAI, with 41 offices operating nationwide, is the Philippines’ number one non-life insurance company in terms of Net Premiums Written based on the Insurance Commission’s 2017 to 2019 ranking. PGAI offers a complete suite of insurance products such as car insurance, property insurance, and travel insurance. The insurance provider is also an affiliate of PGA Cars, which exclusively distributes luxury auto brands like Audi, Porsche, Lamborghini, and Bentley. This partnership represents a milestone for both companies: this is PGAI’s first partnership with an online aggregator, while for Moneymax, PGAI becomes its largest insurance partner to date. Indeed, Moneymax is excited to extend the reach of PGAI’s comprehensive car insurance services to its website audience of more than half a million users per month. Greg Aguilar, Moneymax’s Head of Business Development shares, “We are excited to announce our new partnership with Prudential Guarantee. The partnership will allow Moneymax, as a registered broker, to offer PGAI’s car insurance products on its online…

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How to File a Car Insurance Claim: Complete Guide for Policyholders

Add car insurance to the list of things you need but you hope you’ll never use. Alas, just like power generators, fire extinguishers, and basic first aid kits, you will eventually arrive at a situation where you’ll need help filing a car insurance claim. In 2018 alone, Metro Manila had at least 100,000 recorded accidents[1] that were either fatal or injured people. Dealing with situations like a car accident or car theft is stressful as it is. You do not need the added stress of handling all the added expenses related to your car. That’s why you bought an insurance policy in the first place. Filing a car insurance claim in the Philippines ensures that you will receive assistance and compensation for the loss or damage your car will sustain in an accident. As a responsible car owner, you should know the entire process of filing a claim and the steps you need to take in the aftermath of a road accident. After all, you paid good money to protect your car from unforeseen events. You don’t want to waste that investment now, do you? Note that this article is only meant to give you a general idea about the car insurance claim process. Car insurance providers in the Philippines have different requirements, procedures, and other things related to claims, so it’s still best to consult your insurer for specific concerns with your insurance claim. Table of ContentsWhat Should I Do After a Car Accident?1. Get a police report2. Take pictures of the aftermath3. Get all the important information4. Undergo a…

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Beginner’s Guide to Comprehensive Car Insurance in the Philippines

Owning a car entails many responsibilities. Before you can even drive it, you need to accomplish basic requirements such as vehicle registration and car insurance coverage. While registering your car is a more straightforward task, getting a comprehensive car insurance in the Philippines can get more complex. It requires you to do some research, determine the coverage your vehicle needs, and choose an insurance company that offers the best deals. But don’t let the process discourage your from insuring your car. Learn everything about comprehensive insurance in the Philippines through this beginner-friendly guide. Table of ContentsCTPL Insurance vs. Comprehensive Car InsuranceWhat is Comprehensive Insurance for Car in the Philippines?Why Do I Need a Comprehensive Insurance?How Much is Comprehensive Car Insurance?Where to Get a Free Car Insurance QuotationHow to Get Comprehensive Car Insurance in the PhilippinesThings to Remember When Buying Comprehensive Insurance for Your VehicleBasic Car Insurance Terms You Need to KnowFinal Thoughts CTPL Insurance vs. Comprehensive Car Insurance Let’s start with the basics. There are two types of auto insurance: Compulsory Third Party Liability (CTPL) and Comprehensive Car Insurance (Compre). It’s important to establish right off the bat that both types are equally essential. While it’s true that you only need to buy one, we highly recommend you to get both insurance policies to better protect you and your car. Unlike comprehensive insurance, CTPL insurance is mandated in the Philippines. It is also the most basic and least expensive type of vehicle insurance in the country. What is Comprehensive Insurance for Car in the Philippines? True to its name, a comprehensive…

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Got a New Car? Here’s What You Should Before Hitting the Road

The existing public transportation system in the Philippines left us with no choice but to wake up early and fight through long MRT lines and bumper-to-bumper traffic. According to a 2016 survey, three in 10 Filipinos dread commuting[1] and buying a new car seems to be the most sensible solution to our traffic woes. After months of saving and obsessively researching for the best car in the market, you’ve finally bitten the bullet and got a car. Now what? It isn’t as easy as driving off with your ride. We listed down on what you should do after buying a new car to help you have a smooth start. Table of ContentsTo-do Lists After Buying a New Car1. Register Your Vehicle2. Get Car Insurance3. Photocopy Your Documents4. Read the Owner’s Manual5. Test Your Car’s Features6. Take Care of Maintenance7. Keep Track of Oil Change and Maintenance Schedule8. Make Necessary Repairs9. Add Personal Touches10. Understand Your Driving Capabilities11. Break It InFinal Thoughts To-do Lists After Buying a New Car 1. Register Your Vehicle You can’t drive your vehicle on open streets until it’s registered. If you buy a car from a dealer, they may provide you with at least a temporary registration for the car. Registrations for brand new cars are typically handled by the dealer. However, in the off chance that you must do the registration process on your own, you would need the following basic requirements: Original sales invoice Appropriate insurance certificate of cover TIN ID Original certificate of stock reported (CSR) Original PNP-HPG MV clearance certificate You must…

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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 ownership of the vehicle 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 ThoughtsGet a Free Car Insurance Quote! 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,…

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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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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. 2….

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CTPL 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 Compulsory 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 to Get CTPL Insurance Online?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 Compulsory Third Party Liability…

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