Published: September 23, 2019 | Updated: February 12, 2020 | Posted by: Moneymax | Car Insurance
Car insurance should offer more protection beyond the coverage of the mandatory CTPL. That’s where car insurance companies come in. In order to get the right coverage for your vehicle, you have to take note of all the options you have. And part of that is familiarizing yourself with all the car insurance companies in the Philippines. Here is a helpful list to get you started.
Established in 1957, Alpha Insurance dedicated their efforts to lead and sustain excellence in providing comprehensive non-life insurance services. One of their accolades is a Global Brand Award for being the Most Outstanding Insurance & Surety Company back in 2014.
Bethel General Insurance and Surety Corporation is a local non-life insurance specialist established in 1961. The former BF General Insurance Company prides themselves on their practices, particularly in the areas of underwriting and claims management.
Established in 1960, Charter Ping-An Insurance Corporation prides themselves in providing non-life insurance and security products for homes and condos. They have since been acquired by AXA Philippines and currently, they maintain 22 branches nationwide
Since 1965, Cibeles Insurance Corporation’s three decades worth of experience providing prompt and efficient claims services has gained them partnerships with highly rated reinsurers based in Switzerland, Germany, China, Japan, South Korea and India.
Don Andres Soriano, founder of the San Miguel Brewery, established the Commonwealth Insurance Company in 1935. For over seven decades, they have acquired accreditations from all universal, commercial, development, savings and rural banks in the country.
Corporate Guarantee and Insurance was incorporated in 1997, making them one of the younger car insurance companies on this list. However, their 22 years of service isn’t something to scoff at as they serve the public with their declarative slogan “We Value Our Commitment.”
With their tagline “Kapag Sigurado, Hindi Kabado,” Country Bankers Insurance Corporation traces their origins to a group of rural bankers. Since 1960, they were the leading non-life insurance provider for rural communities, eventually expanding towards larger locales.
Established in 1949, Empire Insurance is a non-life insurance company specializing in fire and engineering, casualty, and marine insurance. They pride themselves for their track record of financial prudence and profitability, setting a standard for other insurers.
Created in 1958 by the Zuellig Group of Companies, FPG Insurance has staked their hold as one of the country’s premier insurance providers. They specialize in providing insurance policies and risk management solutions tailored specifically to individual customer, their FPG car insurance being a prime example.
Fortune General Insurance was established on June 13, 1955 as the Mutual Security Insurance Corporation. Upon their acquisition by the ALC Group of Companies, they rebranded into their modern incarnation, providing insurance for cars, property, and marine cargo.
Intra-Strata Assurance counts themselves as one of the oldest companies in the country, having been established in 1959 as the Overseas Insurance Company. They changed their name in 1987 under the leadership of prominent businessman Antolin M. Oreta Jr.
Established in 1934, MAPFRE Insular Insurance Corporation is the largest non-life insurance company in Latin America. MAPFRE eventually absorbed Provident Insurance Corporation and later Insular Life, establishing their foothold in the Philippines as a leading insurance provider with their premium MAPFRE car insurance.
Mercantile Insurance Corporation came to the insurance scene in 1962, eventually expanding their branches in Cebu, Davao, Cagayan De Oro, and Dagupan. They strive to get more people insured with Mercantile car insurance as they partner with established brands in the country.
Milestone Guaranty and Assurance Corp. started operations in 1962, existing at a time when only few car insurance companies were operating. Today under their current form, they remain committed to providing clients with top-notch non-life insurance policies.
New India Assurance is the first fully Indian-owned insurance company in India. They began their operations in the Philippines in 1930, establishing themselves as pioneers in non-life insurance. They now have a strong presence in key cities and provinces nationwide, making New India Assurance car insurance more accessible to Filipinos.
Oriental Assurance Corporation was established in 1962 as a response to a devastating fire. Don Gonzalo H. Cotoco believed so much in insurance that he devoted his life to it. Today, Oriental car insurance has distinguished themselves as a major player in the Philippine insurance market.
Upon their founding in 1945, the Pacific Union Insurance Company has been widely recognized as a pioneer, having been granted Certificate of Authority No.1 in 1945. The first bond they ever issued was for former President Jose P. Laurel Sr.
Paramount Life traces their roots back in 1950. They became known for their practice of quick claims settlement, allowing them to establish a strong market presence in a short amount of time. Since then, they have become the leading insurance provider for OFWs.
In over 50 years of service as an insurance provider, Perla Insurance prides themselves as a company built to provide faster claims with 18 offices in major cities nationwide. They are also the preferred provider accepted by most banks and financing companies.
Established in the 1960s, the Philippine British Assurance Company is one of the earliest car insurance companies to provide non-life insurance policies in the country. They have since made a name for themselves for their affordable rates and fast claims.
Pioneer Insurance and Surety Corporation was established in 1954, specializing in non-life insurance policies including Pioneer car insurance, as well as property, marine, and aviation insurance. Since then, they have expanded their business model, forming the Pioneer Group.
The Philippine National Bank entered the insurance market in 1991 when they acquired Charter Insurance Co., Inc. in 1991. Since then, PNB became a prominent non-life insurance provider, specializing in car insurance, personal accident insurance, and casualty insurance.
Founded in 1886, QBE Seaboard in their current form has over 127 years of experience, making QBE car insurance a household name in the country. They started their operations in the Philippines in 2013 and have been a leading non-insurance provider since.
SGI Philippines General Insurance Co. Inc. came about in 1964 and since then, they forged a reputation as one of the top insurance providers in the country. Aside from car insurance, SGI Philippines offers car insurance, as well as fire, engineering, and marine insurance.
Since their creation in 1958, Standard Insurance has been the leading company when it comes to general fire and standard car insurance in the country. Under their partnership with Zurich Insurance, they remain one of the highest-rated car insurance companies in the Philippines.
Established in 1960 as First Continental Assurance Company, Inc., they eventually changed their name to Sterling Insurance Company in 2011 after being taken over by the Professional Investment Group, complete with a new mission: “”We Go Further To Serve You Better.”
Stronghold Insurance Company, Inc., a wholly owned Filipino insurance company, had their humble beginnings when they were incorporated in 1960. Stronghold Insurance have been licensed to offer all types of policies such as Stronghold car insurance, as well as fire, marine, and suretyship insurance.
UCPB General Insurance Company, Inc. is the non-life insurance arm of the United Coconut Planters Life Assurance Corporation established in 1963. Since then, they have become one of the country’s major players among car insurance companies.
Established in 1964 with only eight employees and 10 agents, Western Guaranty Corporation has grown to become one of the largest non-life insurance providers in the Philippines. Their policies include fire, car, casualty insurance, as well as microinsurance and bonds.
Road accidents are one of the leading causes of death in the Philippines. That’s why you need car insurance more than ever. Not only does it protect you from the hefty repair fees, but it also frees you from the financial woes in the event of an accident. .
Car insurance companies offer various prices and packages on policies. The challenge is to choose the one that will best fit your needs and budget. Don’t forget to take some time and compare the top car insurance companies in the Philippines. Get started by getting a free quote below.
With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.