Avoid These 3 Car Insurance Scams

From online and relationship scams to investment cons, the list of scams in the country continues to grow. Many fall for the trap for a number of reasons – guaranteed returns, earning loads of money in no time, and never-before-seen discounts to name a few. Car insurance, unfortunately, is not immune to scams. Table of ContentsCommon Car Insurance Scams1. Falling for agent and/or company fraud2. Falling victim to staged accidents3. Auto Repair ScamsStaying safeCompare Car Insurance Quote from Trusted Providers Common Car Insurance Scams 1. Falling for agent and/or company fraud An agent may contact you and sell you car insurance. He has your attention with the inexpensive policies he’s offering. Whether he came from legit car insurance companies or not, it’s best to stay alert and keep your guard up. Just last July, news involving bogus insurance coverage amounting to Php 15 billion surfaced. A number of LTO officials did not issue insurance policies despite motorists paying for their coverage. Sadly, this kind of scams is one of the reasons why Filipinos ignore car insurance. How to avoid falling for this: The first step is to always ask for the agent’s license number. That would immediately weed out scammers. Second, ask which company he works for so you can review the car insurance company. Only work with reputable insurance companies. For a complete list of licensed companies, look at the Insurance Commission’s website. Moneymax.ph only partners with licensed insurance providers, so you’re sure that your policy is authentic with a structured and efficient claims process. If you find that…

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4 Things to Do When Your Car Is Towed

Finding a parking spot in Manila can be like finding a needle in a haystack. Most of the good spots near your hangouts are taken or are so far away that it makes you wonder why you took your car in the first place. There are places designated as no waiting/no parking zones around the metro. Usually, the guidelines are pretty clear. You’re illegally parked if your car is anywhere near the following: All National roads in Metro Manila. In primary and secondary roads of cities and municipalities in Metro Manila: Within six (6) meters of any intersection or curved lane. Within four (4) meters of driveways or entrances to any fire station, hospital, clinic and other similar establishments. Within four (4) meters of hydrants. On the roadside of any illegally parked vehicle. On pedestrian crosswalks. In front of any authorized driveway. On the sidewalks, paths, and alleys not intended for parking. At the foot or near bridges. At any place where official signs have been erected prohibiting parking and/or declared No Parking Zone by the MMDA or provided by law or ordinances. Other cities, such as BGC, wholly do not permit street parking – and your car will be towed if you park there. Makati, on the other hand, places wheel clamps on illegally parked vehicles and slaps the owner with a hefty fine of Php 500. You can also get towed if you park at certain times. When your car is towed, you’ll have to accept some pretty difficult truths. Here’s a few of them: Table of Contents1….

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MoneyMax.ph Celebrates One Year of Helping Filipinos Save Money

Get unprecedented discounts on your car insurance this month of August as MoneyMax.ph, the Philippines’ leading comparison portal, commemorates one year of empowering Filipinos to make informed purchasing decisions. To celebrate this achievement, the company partners up with SGI Philippines General Insurance Co. Inc. in offering huge discounts of up to 30% off on car insurance policies bought from the site until the end of August. Launched in 2014, MoneyMax.ph offers people access to independent, fair, and trusted rankings of products like car insurance and personal loans so they can find the right product that fits their needs and budget, while saving them money with better deals. One year later, the company continues to do what it does best – delivering on its commitment to “providing clarity to customers on products and services and give them value for their money,” according to Rahul Maira, product manager for MoneyMax.ph. “MoneyMax.ph has grown exponentially in one year and remains true to its motto of ‘we compare, you save’,” says Maira. Every day, thousands of Filipinos visit the portal and enjoy an easier car insurance application process, a far cry from the complicated and sometimes unsafe process of old. Instead of risking bogus CTPL policies with shady dealers, consumers can choose from a variety of offers from some of the country’s top non-life insurance providers – and all for a lower price. To mark its first anniversary, Moneymax.ph is offering even better discounts – up to 30% – on car insurance policies in a limited-time Flash Sale. “To keep our essence alive, we…

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3 Real-Life Drivers Saved By Car Insurance

There was at least one fatal road accident in Metro Manila per day, according to a 2013 report by the Metropolitan Manila Development Authority (MMDA). That did not include minor road accidents, which amounted to around 200 a day. From speeding and drunk driving to defects in road design and maintenance, there are many causes for road accidents. With personal safety and damage costs both major concerns during these situations, road accidents take a toll on a person’s body, mind, and wallet. Thankfully, having car insurance can help lighten the load. MoneyMax.ph caught up with three Filipinos who were saved by their car insurance. Here are their stories: Table of Contents“My insurance covered my daughters’ driving accidents”“My insurance provider covered half a million pesos”“My cars were flooded, but Acts of Nature coverage saved me money”Lessons LearnedGet a Free Car Insurance Quote! “My insurance covered my daughters’ driving accidents” MoneyMax.ph chatted with Malou, a mother of four. “Getting car insurance is a good decision especially if you have teenagers or children learning to drive,” she said. Her daughters were involved in two separate incidents with the damage for both totaling PHP 50,000. “One of my daughters broke the bumper of our sedan, and that amounted to PHP 20,000 alone. The other daughter hit a truck, and the bumper, lights, windshield, and the left fender all broke.” Fortunately, her insurance provider covered the PHP 50,000 in damages while she only paid PHP 13,000 in annual premiums. Read more: What is Roadside Assistance in Car Insurance and Why Should I Get It? “My…

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The Ford Focus: Tips to Lower Your Insurance

If there’s a car that can think for you, the Ford Focus is it. With a keyless entry system and one–touch parking assistance, the Ford Focus features advanced technology that makes driving safer and more convenient. Available in both sedan and hatchback types, the Ford Focus is designed to the consumers’ preferences. Considering its smart features, it is relatively inexpensive with an average price of Php 859,000. Not all Ford Focus models share the same features, so prices range depending on the model. This, in turn, affects the cost of the insurance premium. Here are 3 factors that will help you understand the intricacies affecting the car insurance cost of the Ford Focus: Performance Level The type of car you drive affects your insurance rate. There’s a reason why sports cars cost a lot to insure. They’re more prone to being stolen and users of these cars tend to drive at higher speeds, increasing the risk for accidents. Since the Ford Focus is classified as a sedan or hatchback, insurance costs for it is affordable compared to riskier vehicle types. Between the sedan and the hatchback versions, the latter has a higher insurance premium because of its higher price tag. See below for more information on the price, insurance cost, and performance level of the Ford Focus: 1.6L Ambiente 6PS (Sedan) Engine Performance: 1.6L TiVCT 16–valve  Duratec I4 Maximum Output: 125/6,000 (ps/rpm) Maximum Torque: 159/4,000 (Nm/rpm) Transmission: 6–Speed Powershift Automatic with Select Shift Selling Price: Php 939,000 Insurance Price: P27,800* 1.6L Ambiente M/T (Sedan) Engine Performance: 1.6L TiVCT 16–valve  Duratec I4…

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4 Factors Affecting Your Hyundai Accent’s Insurance Policy

As one of the best selling cars in the Philippines for 2014, the Hyundai Accent sold 2,021 units in the first half of the year according to data from the Chamber of Automotive Manufacturers of the Philippines, Inc., or CAMPI. With its Php 648,000 price tag and performance reliability, many saw the economical and experiential value of the Accent. It’s important to stay protected while driving, and the easiest way is through auto insurance. When looking to insure your Hyundai Accent, check the 4 factors below affecting your premium. It’s good to know why policies differ in coverage and pricing, so you know the best one for your Accent. Table of ContentsEngineAccent 1.4L E CVT A/TAccent 1.4L E 6M/TTransmissionModel CoverageProtecting Your Hyundai Accent Engine The Accent’s engine size comes in two options: the 1.4L and 1.6L. The larger the engine, the more powerful it is, and the higher the premium. For the car enthusiast who wants a better acceleration rate, the 1.6 version would be preferred. Those who simply want to get from points A to B will save more with a smaller engine size. See below for more information on the Hyundai Accent’s engine system: Accent 1.4L E CVT A/T Performance: DOHC 16–Valve, MPI (Multi-Point Injection) Gasoline Maximum Output: 100/6,000 (ps/rpm) Maximum Torque: 13.6/4,000 (kg-m/rpm) Transmission: CVT Selling Price: Php 698,000 Accent 1.4L E 6M/T Performance: DOHC 16–Valve, MPI (Multi-Point Injection) Gasoline Maximum Output: 100/6,000 (ps/rpm) Maximum Torque: 13.6/4,000 (kg-m/rpm) Transmission: 6-speed M/T Selling Price: Php 648,000 Read more: The Higher Costs of Lower Premiums Transmission Automatic cars are more…

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Got you Covered: The 5 Most Insured Cars in the Philippines

A car’s make, model, and the year of production plays a large role when you get auto insurance. Some cars are cheaper to insure than others because of built-in safety features or anti-theft devices. Others happen to be “low-risk” vehicles – a vehicle that is less likely to figure in an accident. Let’s take a look at five of the most insured cars in the Philippines, and what makes them favorites. Table of Contents2015 MITSUBISHI MIRAGE 1.2 GLX M/T2015 MITSUBISHI LANCER CVT GLS A/T2015 HYUNDAI EON GL M/T2015 FORD FIESTA M/T2015 CHEVROLET SPARK 1.0 M/T 2015 MITSUBISHI MIRAGE 1.2 GLX M/T Annual Gross Average Premium: PHP 22,193 The Mirage is one of Mitsubishi’s entry-level sub-compact cars, and boasts a 1.2 liter engine that is makes for an efficient fuel economy – with a mileage of 14.45 km per liter. It comes with several safety features: seven airbags, which includes an extra one to protect the driver’s knee. Anti-theft features include power locks and a panic button. Optional additions can further boost it with a navigation system with a rearview camera, parking sensors and interior LED lighting. 2015 MITSUBISHI LANCER CVT GLS A/T Annual Gross Average Premium: PHP 24,179 Mitsubishi’s second entry is a hatchback that has quite the following in the country. The GLS runs on a 1.6 liter engine based off of the 49A2, and good gas mileage at 10.63 km per liter. Its low base price range makes it agreeable to first-time owners, and while it doesn’t come with the same bells and whistles that the Mirage does, it…

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Safety Car Features You Should Not Miss

Most modern cars are equipped with several features to ensure the safety of occupants. While nothing can beat a safety-conscious and defensive driver, there are times when unavoidable accidents happen. Each car manufacturer has its own set of safety features installed in their different car models. If you are in the market for a new car, aesthetics and price should not be the only considerations when choosing. Here are the some of the car safety features you need to watch out for. Read More: 6 Safety Tips When Driving This Rainy Season Table of ContentsSeat Belt FeaturesAir BagsAnti-lock Brake SystemAdaptive Cruise ControlHead Restraints Seat Belt Features Seat belts keep occupants inside the vehicle in the event of a crash, and these basic features reduce the risk of the passengers colliding with the windshield, the dashboard or the steering wheel. But modern seatbelts are even more improved. Look for an adjustable upper belt that allows the shoulder strap to be repositioned to accommodate the driver’s size. Some higher-end vehicles also have a seatbelt pre-tensioner that automatically retracts the seat belt so excess slack is removed when there is a crash. Likewise, check if the seat belt has energy management features that give the strap some yield, it does not concentrate its energy on your chest. It you have young children, check if the car has rear center seat lap/shoulder belts. If you have babies or toddlers, child seats and booster seats are the best way to keep them safe within the vehicle. Check if the car has ISOFIX standard attachment points,…

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5 Craziest Car Accidents People Walked Away From

Car accidents happen no matter how carefully you drive. Seat belt-wearing, rule-abiding motorists are not immune to the dangers of the road, because there’s no way to tell if the guy in the next lane won’t suddenly swerve or speed up. If you’re lucky, you walk away with nothing but a minor scratch or dent on your car  (and you’ll be thankful for the car insurance cover you paid for). And if you’re REALLY lucky, you walk away from an accident that should have killed you – but didn’t. Whether it’s a car that was seriously sturdy or just plain dumb luck, here’s five of the craziest car accidents people walked away from. Read more: 7 Surprising Ways to Save on Car Insurance Got you Covered: The 5 Most Insured Cars in the Philippines INFOGRAPHIC: Quick Guide on Philippine Car Insurance What to Compare When You Compare Car Insurance Affidavit for Car Insurance Claim: Why You Need It and How to Get One Table of ContentsEDSA, Philippines – 2015New Jersey, USA – 2012Quingdao, China – 2014Oregon, USA – 2015Grand Prix, Canada – 2007 EDSA, Philippines – 2015 Buses are literally the biggest menaces on EDSA. Plenty of buses are no longer road worthy, and their drivers ignore speed limit rules in their rush to get passengers and increase their daily earnings. What should’ve been a normal enough day for the driver of a Toyota Vios turned for the bad when a Dela Rosa Transit bus rammed into it and crushed the Vios underneath it – quite literally – along EDSA and Muñoz. It should’ve killed the…

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5 Tips on Choosing Your Car Insurance

Every driver in the Philippines knows that when they register a motor vehicle, they are required by law to have car insurance. The mandated insurance coverage is the Compulsory Third-Party Liability (CTPL). Beyond this, most drivers will have to choose any other covers to add to their policy. Given the number of additional covers that can be extended onto a policy, have you ever wondered which would be best? If you have, here are 5 tips on picking insurance coverage for your car. Table of ContentsResearch your ProviderChoose your cover based on needReduce your PremiumsChoose your cover based on your driving habitsReview the Fine PrintNeed Car Insurance? Find the Best Deals at Moneymax! Research your Provider There are a number of providers out there. Some offer better add-ons to a policy than others and seeing as these insurance providers do have websites, it’d be to your advantage to look through providers and pick according to your budget. Shopping around allows you to compare rates and check which providers suit you best. There are also comparison websites that you can visit to do a side-by-side of your available providers and covers. Choose your cover based on need There is such a thing as being over-prepared. While certain covers like “Acts of Nature” may seem like a smart idea, given the kind of flooding experienced in the country, choosing too many optional covers can lead to overpaying on premiums for a cover that you may not necessarily need. Choose your covers based on the way you use your vehicle. Off-roaders may want covers…

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The 5 Fastest Cars You Won’t Own (Yet)

Between the high costs of car insurance; and perhaps the impracticality of having a fast car in a country with bad traffic congestion, one can dream. Here are five of the fastest cars you may never own (or you might, someday, with a lot of perseverance and hard work) image via carmudi.com Table of ContentsThe AurelioBMW 118i Sport Essential ATMercedes-Benz SLS AMG V8 DCTLexus LFA 4.8L V10 ATBentley Continental GT The Aurelio Price: Around PHP 1.6 Million It’s a locally-made sports car that costs almost the same price as a hybrid. The Aurelio’s top speed runs at 290 kph and runs on a 2.0 liter Mitsubishi 4G63T turbocharged engine. While it has raised some criticism because it has a long way to go, it doesn’t change the fact that it’s a locally developed beast of a machine. Read More: Top Fuel-Efficient Cars in the Philippines BMW 118i Sport Essential AT Price: Around PHP 1.9 Million This two-door convertible coupe will probably let you do that if the traffic conditions are right, and that’s mostly on the expressways out of the metro. The 118i runs on a 2.0 liter DOHC 16-v inline-4 engine and has a top speed of 291 kph, just about right for some summer cruising. Mercedes-Benz SLS AMG V8 DCT Price: Around PHP 18.5 Million It’s a high-performance 2-door (and 2 seater) coupe with a top speed of 320 kph. It runs on a 6.2 liter DOHC 32-Valve V8 engine, and has a sleek look. This is definitely the kind of car that could turn heads no matter where it…

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Cars You Can Buy for Less than P500,000

Shopping for a car is no easy matter. It often gets a little tricky when trying to decide between style and your actual price range. Some people will look for style, others will look for functionality, and even more, will look for mileage. Others may even look at the cost of insuring a said car. Read More: The Ten Most Badass Cars from Movies Regardless of whether or not this is the first car you plan on purchasing, you’ll have options. If you’re going for something that costs less than a million, here are some of the commercially available cars for sale under 500,000. Compact and Cool Compact cars are desired mostly because they’re cute, and often come quirkily colored (lime green, for instance) off the factory line. Chery’s QQ3[1] models are an example of the quirky colored compact cars, ranging from a lime green one to ones that are a snarky little purple. The 1.1L fuel capacity ones retail for PHP 389,000, while the 0.8L models retail at PHP 349,000 – at least for the Manual Transmission model. The Chery QQ3 0.8L Automatic/Manual Transmission model retails for PHP 399,000. Chana, like Chery, is a Chinese manufacturer, and their offering – the Benni Lux[2] – is a little bulkier looking than the QQ3s, but also carry a larger fuel capacity. Both the manual and automatic transmission versions of the vehicle carry 1.3L engines, though only the MT version of this is priced below PHP 500,000 – at PHP 450,000, to be precise. The AT version retails at PHP 510,000. Lifan’s offering[3] to…

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The Anti-Drunk and Drugged Driving Act

You know the saying “don’t drink and drive”? Given the belief of many people that they can tolerate a large amount of alcohol and still be able to make solid decisions behind the wheel, they’ll drink… then drive. Table of ContentsWhat is Republic Act No. 10586?What is covered under the Act, and who can pull you over?What happens when you’re caught driving under the influence? What is Republic Act No. 10586? Republic Act No. 10586, formally known as the Anti-Drunk and Drugged Driving Act of 2013, is meant to penalize people driving under the influence of alcohol, dangerous drugs and similar substances. While originally drafted into law in 2013, enforcement of the law did not begin until March 12, 2015. Instances of driving under the influence occur more often in large cities like Metro Manila and Davao – hence the fact that most of the focus will be on larger metropolitan areas. Here are some of the things you will need to know: What is covered under the Act, and who can pull you over? The law essentially prohibits driving while under the influence of alcohol; classified under the act as wines, beer, any distilled spirits that can cause intoxication upon consumption. It also prohibits the operation of a vehicle while under the influence of most drugs; ranging from cannabis, ecstasy, cocaine, methamphetamine hydrochloride (meth/shabu) to over the counter, and prescription medication like Valium or Cough Medicine. Under the Act, you can be pulled over by law enforcement officials, traffic enforcers, and the like. They can only do so if they have…

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Insuring an ATV

ATV is the acronym for All-Terrain Vehicle. They are also known as quad-bikes, which is a motorcycle on four wheels. While it’s rare to see one outside of specialty racetracks and beach tours, ATVs are legal to use in the streets. How does one go about having them prepared for the road? Your ATV needs to be registered with the Land Transportation Office. You’ll need to make sure that it is up to code. Most ATVs above 1,100 CC displacement will have the necessary safety features (headlights, tail lights, side mirrors), and you’ll also need street legal tires. Like any other vehicle, it’ll also need insurance. How do I get insurance for an ATV? Unlike auto insurance, which requires a compulsory third-party liability cover; ATVs generally carry a single passenger. Coverage for ATVs usually starts with the comprehensive insurance, then move on to Collision, Bodily Injury and Property Damage Liabilities. Insurance providers are usually keen on giving discounts for people who plan to insure multiple ATV units given their usage as tourist transportation in some parts of the country. Get a Free Car Insurance Quote! Below is a list of top car insurance companies and their features. ATV Insurance Requirements While there isn’t any direct classification regarding the insurance of an ATV for actual road use as opposed to the leisure use that most tourist spots and resorts use as an activity, the requirements for insuring an ATV is the same as getting a comprehensive insurance cover for a car. You’ll need the following: Your Original Receipt Your Certificate of Registration…

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A Guide to Car Classifications

A car is a car, or at least that’s what you normally think. If it gets you from point A to point B, that’s all you need to know, right? But when thinking of buying a car, it’s good to know the different classifications that might affect your buying decision. Most car aficionados know what’s what when it comes to cars and their types. If you’ve ever wanted to know where your car (or your dream car) is classified under, check out our handy little guide: Table of ContentsMicrocarsHatchbacksStation Wagons/Estate CarsSports CarsConvertiblesOff-RoadersMulti-Purpose Vehicles Microcars So you’ve probably seen these cars around town. They’re small enough that you can’t actually see them in a parking space. Microcars, or Bubblecars toe the line between car and motorcycle (of the four-wheeled variety), and usually have engines around 1.0 liters. Cars in this classification include Ford’s Think Nordic, the Isetta, and the Tata Nano, and are more common in Europe and East Asia. Hatchbacks Where microcars are usually meant for smaller towns and roads, the Hatchbacks are made for the city. Cars like these feature engine displacement above 50cc, and are called hatchbacks owing to the fact that there is a door that provides access to the cargo area of the car. Cars like these are configured with 3 doors (two entry doors and the hatch), and 5 doors (four entry doors and the hatch). These are also the more commonly driven cars and have further sub-classes. Full-size cars like the Chevrolet Impala, and sedans like the Mazda 6 fall under this classification. Station Wagons/Estate…

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What to Do If You Hit a Person on the Road

Accidents happen, this is a fact that everyone needs to realize. There are plenty of hit-and-run cases the world over, and these occur for plenty of reasons: negligence chief among them. Whether or not you were at fault, there are certain things that you need to do if you hit a person with your car. Table of ContentsCheck on the injuredCall emergency servicesStay where you areContact your insurerContact a Lawyer Check on the injured Getting hit by a moving vehicle isn’t something you can shrug off. One of your first priorities should be to check for injuries to anyone in your vehicle, then on the person that was just hit. Check on them, but don’t move them, as you may not know the extent of their injuries. If the victim remains conscious in spite of any injury, it is ideal that you keep them conscious until first responders arrive. Call emergency services Calling the authorities to report an accident is key to ensuring the survival of the person you happened to hit. The Philippine National Police’s (PNP) emergency response number is 117, and the Metro Manila Development Authority’s is 136. Usually other people will as well (if they aren’t too busy gawking and taking videos.), but it helps if the owner of the vehicle involved makes the call. Have your driver’s license ready as well when they arrive, and give them all the details of the incident. While this may be obvious: be honest. Witness accounts can be somewhat conflicted, but can be corroborated by you and yours. Read more:…

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Road Accident Laws Motorists Should Know

When you go to driving school, you learn what to do and what not to do. By now, motorists know the most basic laws for driving. Republic Act No. 4136, more commonly known as the Land Transportation and Traffic Code, contains all the traffic laws and provisions that are endemic to the Philippines. Of these laws, a good portion is generally known by the driving public. There are also less-known provisions that every motorist needs to know. There are exceptions to the ‘Right-of-Way’ rule (Article III, Section 43) This particular section states that under certain conditions, the right of way rule can be ignored. For example: The right-of-way rule can be ignored in the case of Police, Fire Department, and Ambulances when said vehicles are being operated in an official capacity. An official capacity meaning that the signals are blaring and such. This is also discussed later under Article V, Section 49, and it adds that people driving other vehicles must drive to and parallel to the right-hand edge or curb of the highway, clear of any intersection of highways, and stop there unless otherwise directed, and until the vehicles in question have passed. Read more: Drive and Earn: How to be a TNVS Driver or Operator in the Philippines Grab Insurance Guide for TNVS Operators in the Philippines MMDA Violations and Fees Every Motorist Must Know About In case of Accidents (Article V, Section 55) In cases of accidents, the same Code provides for the duty of the driver involved in the accident, his or her duties should they be…

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Why Car Insurance Providers Reject Your Claims

While plenty of insurance policies offer coverage for just about any manner of incidence, there are going to be times when a claim is denied by insurers owing to a number of factors. Before getting your car insurance policy, you need to know that not all claims are indemnified. Claim rejections normally stem from coverage exclusions or breach of the conditions of a policy. Exclusion Claims can be rejected if your policy doesn’t cover the event that you or your vehicle figures in. This makes reading your policy extremely important. Fronting is already covered as a breach, but a specific exclusion can be made towards a person. Below are a few of the more common situations not included by the coverage, some of which are specifically stated by most policies: Intentional Cause of Injury or Damage to Property – basically, incidences of Road Rage, or crashing into the home of someone you dislike is excluded from coverage. Catastrophic Events – can also be marked as excluded. Incidences of war (declared or undeclared), the fallout of a radioactive event, or explosions are normally not included in a basic auto insurance policy. Use of the car outside its specified class of use – if you declare the car as for ‘domestic, social and pleasure’ use, you definitely cannot use it for business. Using a car declared as such to say, deliver pizza, and it figures in an accident, you won’t be covered. Vehicular Exclusion usually refers to certain types of vehicles registered to you that may not be covered under a regular…

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What to Compare When You Compare Car Insurance

When buying an expensive car, you’re investing on a mode of transportation. It’s only natural to want to protect this investment by applying for vehicle insurance. Most countries require a compulsory third party liability insurance coverage to cover accidents that may occur over time. More coverage in your car insurance policy, however, provides you with a lifetime perk called “peace of mind.” Choosing the right car insurance from the right insurance provider might be tricky, however. This is because there are a number of things to consider before you decide on a car insurance provider to choose. You have to take into consideration the following: Coverage, Exclusions, Premium, Excess or Deductibles, Claims Service and Procedure, and the insurance company’s stability. Table of ContentsCoverageExclusionsPremiumExcess or DeductibleClaims Service & ProcedureCompany Stability Coverage A comprehensive car insurance is something people would want for their brand new automobile. There are many types of coverage you can get: liability coverage that helps you pay for any accidents, injuries, or damage for the people involved in the accident; a policy that covers costs if your car is stolen or damaged but was not involved in an accident; insurance coverage that helps you cover costs if you are hit by someone (or you hit someone) without insurance. Minimum coverage on car insurance shouldn’t be all you should get. Make sure that you cover all your bases: third party liability insurance, uninsured/underinsured coverage, personal injury protection, as well as property damage liability, collision coverage, and coverage against theft. Read more: What You Need To Know About Your Towing…

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7 Surprising Ways to Save on Car Insurance

Outside of your trips to the petrol station and visits to your friendly mechanic for regular maintenance, car insurance is one of the things you just have to spend on when you have a car. As with any recurring expense, it pays off (literally!) if you take steps to lower your cost. Here are seven great ways to lower your car insurance payments that you may not yet know about. Table of ContentsAsk for a DiscountSet Higher DeductiblesLimit the CoveragePark Your Car in a Safe Place Install Car Safety and Security Features Choose a Car That Costs Less to Insure Shop Around for Car Insurance Ask for a Discount Don’t be afraid to haggle! Ask your agent if they give discounts or any special promo! You could be pleasantly surprised to learn that your car insurance agent can offer you a discount if you just asked for it Set Higher Deductibles To save even more on your car insurance, try to get one with a high deductible. You’ll have to pay more in the event that you make a claim on your insurance but you’ll typically pay less on your car insurance premium. This is a good idea if you have a good driving record. Read more: The Higher Costs of Lower Premiums How Much Does Car Insurance Cost in the Philippines? Affidavit for Car Insurance Claim: Why You Need It and How to Get One Limit the Coverage Depending on where you live, there usually is a basic coverage you’ll need to have on your car insurance. The Land…

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