All Articles With Category : Car Insurance

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

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. Stay where…

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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. 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 involved in an accident. It states the following, specifically: He or she must show his driver’s license, give his or her true name and address, and the same details of the owner of the…

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The Best Car Modification Shops in the Philippines

    Fast & Furious, Pimp My Ride, Need for Speed (the game, not the movie). What do they all have in common? If you answered big budgets, that’s a given. The real answer is modified cars. There’s something about the way an engine purrs when it’s a V8, and even more so when you’ve got a kit that makes you look just about as awesome as Dom Toretto does sitting in a Lambo without actually being in one. With Bumper to Bumper and Hot Imports Night happening in a couple of weeks, here’s a look at some of the best car modification shops that’ll be showing at these car shows. Table of ContentsAlex RestorationAutolineA-Toy Body KitsEmperor MotorsportsConcept One Wheels Alex Restoration Your grandfather’s old clunker is the reason that new Audi is chock-full of bells and whistles, so why not show it some love and get it back into shape? Alex Restoration is the perfect place to get that done. Originally a smaller business committed to the rescue and restoration of classic cars, it has since grown into one of the best places to restore vintage wheels. Location: 66 Roosevelt Avenue, San Francisco del Monte, Quezon City, Metro Manila Contact: (+632)413-4863 Autoline Remember how Pimp My Ride on MTV used to completely strip down a car and remake it? Autoline does the same, and they do it really well. Well enough that they won the top prizes at the 2009 and 2010 Manila Auto Salon. Plenty of care and fine-tuning goes into their masterpieces (which is to say every car…

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Import Cars Top 2014 Sales in the Philippines

    With the first quarter of 2015 in full swing, the automotive industry is stepping up its game and putting forth promising innovations to cars. While some of these cars may not be available locally yet, 2014 showed that a majority of consumers purchased imported vehicles, the sales reported as being higher than they were in 2013. According to reports from the Association of Vehicle Importers and Distributors (AVID), imported car sales rose 13 percent, a total of 35,565 units rolling off showroom floors and onto the road. The increase was attributed mostly to the passenger car sector, which showed a 14 percent increase, selling a total of 18,467 units throughout the year. They also cited dealers like Chevrolet Philippines, which showed a 79 percent growth in sales through 2014. The group also cited a 12 percent growth in the light commercial vehicle sector, with a unit sale of 17,098 units in 2014, as opposed to the 15,256 units sold in 2013. The increase in sales saw a drop of 23 percent towards the end of 2014, with units sold down to 1,386 and 1,301 units and 1,795 and 1,696 units, respectively. The group’s president, Maria Fe Perez-Agudo maintains AVID’s stance as “the industry will continue its bullish stance for 2015” and that a brisk demand for vehicles will continue to shape the automotive imports industry in the country. AVID also remains positive as the growth still came in spite of lower GDP expectations in 2014, stating that 2015 may provide the industry significant growth owing to strong sentiments…

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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 car 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 to take. 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. Exclusions Of course, not all insurance policies give you everything you…

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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. 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 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. 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 Transportation Office requires that a vehicle be covered by a Compulsory Third-Party Liability insurance policy as dictated by the Insurance Code.  You have the option to get more coverage such as collision coverage or comprehensive coverage. If you drive an old car and annual collision coverage will cost you about half of the car’s market value, then it might not be worth it to get the collision coverage….

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Factors to Consider When Selecting Your Car Insurance Provider

Life is never without risk, and the saying often goes that a life without risk is a life lived unfulfilled. But what do you do when life throws you a curveball? This is where an insurance policy comes in. You’ve read about them, you’ve seen a ton of commercials selling one insurance company or another. At this point, you’ve got choices. But how do you actually pick, be it for a life or non-life insurance plan? Table of ContentsUpfront costsCompany stabilityClaims processing Upfront costs With information at everyone’s fingertips these days, one of the first things that come to mind is “What fits my means?” The cost that you would have to deduct from your monthly or yearly income or the amount you will pay to the insurance company or insurer. Ask yourself which insurance company provides you with the best rates at the best plans and coverage as aligned with your financial health. Company stability Consult an insurance professional, agent, broker or comparison sites. Read reviews and research on the yearly ratings. Which companies topped the list in terms of net worth the past fiscal year? Claims processing Once you’ve selected the plan and the coverage that suit your needs and costs, acquiring compensation – or indemnification – will mean several things. Even before you select an insurance provider, you must know how well their claims processing system is. Let’s use filing a claim for a car insurance policy, for example. Auto insurance usually covers you, your spouse, any dependents, and people you may allow driving the car, along…

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Pinoy Celebrities Involved in Car Accidents

Not all road accidents in the Philippines are reported by the media, and not everyone involved in car mishaps gets to be in the news. In order for a car accident to be qualified as a news story, either the tragedy must be odd, intriguing or devastating, or a famous personality is involved. And when a celebrity is tagged in the event, the severity gets even further magnified. Let’s look back at some Pinoy celebrities who got into vehicular accidents: Table of ContentsAlyssa AlanoAJ PerezAngelica PanganibanLino BrockaSharon CunetaRichard Gutierrez Alyssa Alano TV host Alyssa Alano was seriously injured after figuring in a predawn road accident in Marikina at dawn of October 2012. The Everest-type SUV that she drove was wrecked after hitting the center island of Marcos Highway near the SM Marikina area and spun. At least four other people who aboard a Honda sedan hit by Alyssa were also hurt. Rescue teams extricated Alano from her SUV. AJ Perez The 19-year-old fresh-faced actor was declared dead due to multiple head and neck injuries as a result of a car accident while on the way home from a Star Magic show in Dagupan, Pangasinan in April 2011. The car he was in collided with another vehicle along MacArthur Highway in Moncada, Tarlac. AJ’s corneas were later donated to two different recipients not long after his death. Angelica Panganiban Just recently, actress Angelica Panganiban is safe, following a minor accident involving her brand new Mazda and a passenger cab, at the southbound lane of EDSA-Greenhills. She was about to turn right to Annapolis street when…

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Checklist: Getting Your Car Ready for a Long Road Trip

Toward the end of the year, a lot of people take the time to travel to their hometowns to visit parents or relatives who live across the country. If you’re thinking of doing the same, you may consider driving instead of shelling out a lot of money to pay for flight tickets for the whole family. And road trips can be a lot of fun, whatever your reason for going: holidays, special occasions, a relative’s birthday, and a well-deserved vacation, among other things. Read more: The Ultimate Travel Checklist: What to Pack for Your Next Trip One of the worst things that happen during a road trip is for your car to break down on a busy highway. Having to need repair your car on your road trip isn’t just a hassle, it’s also bound to create a big dent on your wallet. Don’t let a car problem ruin your road trip! Get your car prepped and ready before you take a long road trip. Here’s a quick checklist of the things you need to do before you hit the road: 1. Check your tires if they have the proper air pressure, and if the treads haven’t worn out. Be careful of rough roads. They can puncture your tires. 2. Check your fluids. Old coolant fluid can be corrosive, and will be harmful to your car. Flush out the old fluid and replace with fresh fluids. Don’t forget about your brake fluids, engine oil, transmission fluids, etc. Top off fluids that are low, so you won’t have to stop on a…

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Benefits of Car Insurance We Often Ignore

Road accidents are one of the leading causes of death in the country. In a day off the road, you always have your fair share of experience of vehicles with mechanical defects, overspeeding, or leading the headlines with accidents because of the cellphone use while driving or driving under the influence of alcohol and drugs. It just indicates that any individual is vulnerable to any accidents while on the road. You can always be in trouble no matter how careful you are in driving because of the drivers surrounding you and your vehicle. Hence, getting car insurance becomes a necessity more than a luxury as opposed to what most of us think. Table of ContentsLess stress, less hassleNo up-front expensesQuicker process Less stress, less hassle Being in trouble on the road is nerve-racking and time-consuming. In the first place, you’re driving because you’re going but bad scenarios can come anytime on top of your vulnerability while on the road. If your car is insured, your stress levels can diminish because you know everything will be fine after any accident. You are at least emotionally-secured in these kinds of danger. No up-front expenses In accidents, your safety is always the top priority. Some insurance companies cover the passengers of the insured car on their medical needs. You will get a discount on hospitalization or sometimes, they will finance all of it depending on your coverage. If you are safe and sound as well as your co-passengers (if you have any), the second component you should take into consideration is your wrecked vehicle that…

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INFOGRAPHIC: Quick Guide on Philippine Car Insurance

It may be an added expense for car owners, but signing up for a car insurance plan in the Philippines lets Filipinos save time and money especially in times of calamities.

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Parent’s Guide to Child’s Car Safety

One of the perks of owning a car is regular family bonding trips. But for those who have babies and toddlers with them, there may be a big issue. There are lots of products for baby gear for cars like car seats, and booster seats.  If you’re able to provide for a modern and safe car, your child’s safety deserves the same kind of thoughtful consideration, too. Table of ContentsLet them sit in their own place.Don’t use adult seat belts.Let your child sit on the back seat.Drive defensively.Be a good example for your child.Don’t drive fast especially when you’re with your kid. Let them sit in their own place. We have been taught to believe that letting our children sit on our laps while inside the car makes them safe.  We thought our arms can substitute as their seat belt – but we are wrong. If you continue to let them sit on our laps, you are inducing more harm. The car may not crush him, but your body might. Don’t use adult seat belts. If you use adult seat belts to children, sometimes, it rests on the child’s face or on his neck. This slips the shoulder strap under his arm or places the shoulder strap behind him. Some of us just leave the lap belt on. If the lap belt is the only one lock on the child’s body, his upper body does not have any support to keep them in place. Only kids nine years old and above should wear a car seat belt but should always…

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Tips for First-time Filipino Drivers

Being able to drive for the first time is a blend of anxiety and thrill. The latter keeps you going while the former keeps you guarded. First-time drivers must need enough courage to actually drive on the horrible Manila traffic but always keep in mind some basic rules and things that they need beforehand. We suggest reading through the following even if you have your car insured: Table of Contents#1 Keep your hands on the wheel#2 Stop touching the radio#3 Do not use your mobile phone#4 Wear your seat belts#5 Stay on your lane#6 Seek for help #1 Keep your hands on the wheel You think it’s pretty simple, right? But first-time drivers are quite conscious of keeping their hands still and proper. Before actually leaving your driveway, make all the necessary adjustments on the mirrors, your seat, etc. to prevent you from keeping your hands away from the wheel and your eyes on the road which is always dangerous. #2 Stop touching the radio For sure, having the perfect soundtrack while driving makes the heavy traffic and long trips bearable, but it could also be risky. In relation to Tip #1, focus on driving can keep you away from any danger. It is also recommended to turn off your radio on your first few times behind the wheel – get to know more important things before focusing on the add-ons. #3 Do not use your mobile phone Legally, you are not allowed to use your phone while driving. It’s as dangerous as driving drunk. As much as possible, turn…

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Basic Car Brake Troubleshooting You Need to Know

One of the known causes of reported vehicular accidents is the loss of brakes. Your brakes are one of the most important parts of your car. So whenever you’re uneasy with it, you need to do some troubleshooting right away. Just in case that calling your car insurance provider is not possible at any moment during this extreme emergency case: Table of ContentsBrake pedal goes too far to stopBrake boost power is badBrake pedal is too firmBrake line is obstructedBrakes grabbing or pullingVibrating pedalDragging brakesBrakes make squealing or whining or clunking sounds Brake pedal goes too far to stop When you step on the brake and it feels like you’re going too far down, check your brake fluid. If it’s low, top it off to the mark on the side of the reservoir. It can also be because the brake fluid is polluted. Air can enter through the smallest hole. There’s no way to check for this, but to replace it with new fluid. Worn brake pads could also be the cause as it should never wear low enough to cause your brake pedal to feel low, they’ll scream at you before then. But if they do get very low, replace your brake pads as soon as possible. Brake boost power is bad If your brake booster goes bad, you’ll have low brake pedal issues. Since brake boosters are controlled by vacuum, you need to check the special vacuum measurement device that connects to the brake booster. Brake pedal is too firm If it feels like you’re doing a leg press at the gym…

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World Car of the Year 2014 is here!

Despite stricter Bureau of Internal Revenue (BIR) compliance regulations on luxury items, the newest member of the Audi lineup is here! Value for money is the main goal of this Audi’s new release. For most vehicles with both gas and diesel variants, the gas-powered usually comes the cheaper and the ones with the diesel engine comes with a higher price – not so with A3. It may be the smallest and most affordable sedan in the Audi lineup, but it never gives the feeling of ‘cheap’ as compared to its expensive siblings. All models come with LED daytime running lights, xenon headlamps, and Audi’s infotainment system. The New A3 is bigger, longer and wider – more than adequate as a car for the family. Driving position is impressive with electronically adjustable seats in 10 ways, allowing different sizes of drivers fit comfortably. The dashboard is simplified with a large MMI LCD that displays out of view slides to improve road visibility. The trunk is deep that any large and long objects could fit. Safety is a priority so the A3 comes with six airbags: 2 in front, and side curtain airbags as well. Plus, anti-lock brakes and front brake pad wear indicator, among others. There are three available variants in the market from its launch: the A3 TFSI petrol, the A3 2.0 TDI Attraction and 2.0 TDI Ambition. It’s no surprise that the Audi A3 was named World Car of the Year for 2014

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Get your car insurance from MoneyMax.ph

Our car insurance comparison platform is now online! On behalf of the whole team of MoneyMax.ph, I am proud to announce that we now compare car insurance premiums from some of the top car insurance providers in the Philippines. We have partnered with the best insurers in the country such as Charter Ping An, Federal Phoenix, Mapfre Insular, Paramount Life and General Insurance, Pioneer, Prudential Guarantee, and  UCPB Gen. We will soon unveil more and more providers in order to provide you with the most comprehensive car insurance database across the country. Most of us think that buying a car insurance is nothing but an additional expense to our budget. That can be true. However, vehicular accidents can happen to anyone anytime anywhere. That’s the major goal of getting a car insurance, to give you the peace of mind at all times, wherever you may be. Getting a cover for your car helps you manage any event that could happen while you’re driving – accidents, theft and other damages triggered by things other than road mishaps. If your car is insured, it can reduce all the physical, emotional and financial distresses you may encounter. About Car Insurance in the Philippines Car insurance is a mandatory requirement for car owners in the Philippines. In fact, The Land Transportation Office (LTO) legally requires minimum Compulsory Third Party Liability Insurance (CTPL) for all vehicle owners of registered private cars, commercial vehicles, and public utility vehicles. Get yours now at the best rates for your car! Visit www.moneymax.ph/car-insurance or call us at (02) 02 750 2703 for more info.

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What You Should Do During a Vehicular Collision

When you’re on the road, you are more susceptible to danger. Road troubles may lead you to confusion, stress and cramming. It is really hard to think during these scenarios, so help yourself and lessen the stress from unfortunate events by taking the right steps: Table of ContentsDo not panicStay putTake picturesTake fundamental notesFile an accident reportCall your car insurance provider Do not panic Calm yourself and conduct a thorough self-check. Make sure that everyone in your car is fine and free from possible medications. If ever, ask for help on first-aid or ask for assistance on the nearest hospital. Otherwise, keep calm and talk to parties involved. Avoid picking up fights, too as it won’t lead anywhere but wasting time. Stay put Do not move your cars; let it be in its last, same position as it was. Full-stop and don’t make any moves on your car. This is to help you, all the parties involved and the authorities on gauging whose fault is what. Take pictures Capture evidences that will give everyone the overview of the whole incident. Take photos in such manner that it could help you narrate the whole accident. These photos will help you on your car insurance claims and disputes if there is any confusion and misunderstanding. Read more: The Importance of Car Insurance: 6 Benefits for Car Owners Take fundamental notes Take down information such as names, addresses, contact information, driver’s license number and plate number of the driver/s involved. Make a written description of the cars involved, including year, make, model and color….

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Everything You Need to Know About Car Insurance

Most of the time when you purchase a car, you just sign up for whatever car insurance offered without even reading everything and digging into details. Why? Because it’s not interesting and you’re more enthusiastic about your new car and also, it’s not interesting at all. However, the details in your insurance are as valuable as the car. Try to read and know everything before signing up. If your issue is the budget, you can always find the cheapest car insurance in the Philippines, or even the best only if you find the time to research. Before you sign the dotted line, think about these considerations: Table of ContentsCoverageRiskPaymentVehicleReplacement PartsServiceDiscounts Coverage Find out what coverage you exactly need. Usually, liability coverage is the basic thing people sign up for. It’s more of the coverage of the costs of the injured or deceased party for an accident you are responsible for. This also covers legal fees along with repair costs for any damage done to another affected vehicle. There is also comprehensive car insurance, collision insurance, personal injury or personal accident insurance among other. Research for more before you commit to anything. Risk The rate is equal to how much risk are you in the bank or company.  The higher the risk, the higher the chances of you making insurance claim, hence the higher your insurance rate will be. Age, gender, health, driving, and criminal records as well as credit history and the area you live in are all taken into consideration in risk assessment. Teens and the elderly are more likely…

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