Owning a car is a major financial milestone. Whether it's your first vehicle or an upgrade for your growing family, protecting it starts with choosing the right car insurance provider — not simply the cheapest policy.
With dozens of insurers operating in the Philippines, knowing which companies are legitimate and which policy best fits your needs can feel overwhelming.
This guide explains how to identify a trusted car insurance provider, what qualities matter beyond price, and how to compare your options confidently.
When buying car insurance, it’s tempting to focus on the lowest premium or the biggest benefits. But the provider you choose matters just as much as the policy itself.
Your insurer is the company you’ll depend on after an accident, theft, or natural disaster. A reliable provider can make claims easier, offer timely support, and help you recover financially when you need it most.
Here’s why choosing a legitimate car insurance provider matters:
For many Filipinos, a car is a major milestone and a valuable asset. The right insurer helps protect that investment by covering repair costs, replacements, or third-party liabilities, reducing what you may need to pay out of pocket.
Car insurance is most valuable when you need to file a claim. A trusted insurer should have a clear process, responsive support, and accredited repair shops to help you get back on the road faster.
Accidents and breakdowns can happen anytime. Some insurers offer roadside assistance, towing, and 24/7 hotlines, giving you help when you need it most.
Car insurance is part of your long-term financial protection. A reputable provider gives you confidence that your coverage will continue to support you as your needs change over time.
Not all insurers offer the same service or value. Comparing legitimate providers helps you look beyond price and focus on claims support, customer service, and overall reliability.
Looking for an insurance provider for your vehicle? The best car insurance company for you might be on this list, updated as of 2024.
Alliedbankers Insurance Corporation is one of the top non-life insurance companies in the Philippines, with a net worth of ₱3.54 billion in 2022, as per the Insurance Commission's Net Worth Reports. It's also one of the country's most highly esteemed insurance providers by the foreign insurance market, providing affordable premiums, broad insurance coverage, and efficient claims service.
Established in 1957, Alpha Insurance dedicates its efforts to leading and sustaining excellence in providing comprehensive non-life insurance services.
One of its achievements is a Global Brand Award for being the Most Outstanding Insurance & Surety Company in 2014.
It was initially established as Traders Insurance & Surety Company by a group of Filipino entrepreneurs until the Asian International Group, comprised of leading general insurance companies in Indonesia, Hong Kong, and Thailand, joined it in 1998. The new name, Asia Insurance (Philippines) Corporation, was approved in June 2004.
With increased capital, reinsurance support, and professional management, Asia Insurance (Philippines) Corporation works to satisfy customers with its insurance products and excellent claims services.
While one of the youngest domestic non-life companies in the Philippines, it has already established itself as one of the most dynamic insurance companies in the country.
Since this 100% Filipino-owned company began its operations in September 2000, it has ranked 23rd out of 57 non-life insurance companies in the Philippines by the end of 2020, with total gross premiums amounting to ₱856.611 million. It has a net worth of ₱1.3 billion and authorized lines of business in fire, marine, and casualty and surety.
Bethel General Insurance and Surety Corporation[1], or Bethel Gen, is a local non-life insurance specialist established in 1961. Formerly BF General Insurance Company, it prides itself on its underwriting and claims management practices. If you look up Bethel General Insurance reviews online, you’ll also find that as of December 2022, it has a net worth of ₱2.2 billion.
BPI MS was born from the joint efforts of the Bank of the Philippine Islands (BPI) and Mitsui Sumitomo Insurance Company, a trusted insurance company in Japan with 64 branches nationwide. BPI owns 51%, while Mitsui Sumitomo Insurance owns the remaining half.
BPI MS was recently named Best Digital General Insurer by The Digital Banker during the Digital CX Awards 2024 in Singapore.[2]
Aside from motor insurance, BPI MS offers fire insurance, travel care insurance, personal accident insurance, and more.
Established in 1960, Charter Ping-An Insurance Corporation provides non-life insurance (including comprehensive car insurance) and security products for homes and condos.
It has since been acquired and operated by AXA Philippines and is affiliated with the Metrobank Group. Currently, Charter Ping-An has 24 branches nationwide.
Since 1965, Cibeles Insurance Corporation’s[3] more than five decades of experience providing prompt and efficient claims services has gained partnerships with highly rated reinsurers based in Switzerland, Germany, China, Japan, South Korea, and India.
Cocogen Insurance (formerly UCPB General Insurance Company) has come a long way since its establishment in 1963. It is now one of the country’s significant players among auto insurance companies, with several awards recognizing its insurance solutions.
Don Andres Soriano, the founder of the San Miguel Brewery, established the Commonwealth Insurance Company (CIC)[4] in 1935. With such a long history, the CIC is considered one of the most experienced insurance providers in the Philippines.
For over eight decades, it has acquired accreditation from all the country's universal, commercial, development, savings, and rural banks.
Corporate Guarantee (CG) was founded in 1997 in San Fernando, Pampanga, making it one of the newer auto insurance providers on this list.
Still, its over 20 years of providing auto, fire, casualty, cargo, and bonds insurance isn’t something to underestimate. CG is one of the top non-life insurance companies.
With its tagline “Kapag Sigurado, Hindi Kabado,” Country Bankers Insurance Corporation (CBIC) has been rural communities' leading non-life insurance provider since 1960, eventually expanding towards more prominent locales.
Etiqa Life and General Assurance Philippines, Inc., simply known as Etiqa, is a composite insurance company headquartered in Kuala Lumpur, Malaysia, with operations in the Philippines, Cambodia, Indonesia, and Singapore.
Formerly AsianLife & General Assurance Corporation, Etiqa has been in the insurance industry for over 40 years, offering a broad range of life and non-life insurance products for individuals and companies.
Read more: Here's How to Pay Your Etiqa Car Insurance Online or In Person
Fortune General Insurance, also known as FGen Insurance, was established on June 13, 1955, as the Mutual Security Insurance Corporation. Upon its acquisition by the ALC Group of Companies, it rebranded into its modern incarnation, providing insurance for cars, travel, property, and marine cargo.
FPG Insurance is a leading provider of innovative and comprehensive insurance solutions, committed to safeguarding the interests and well-being of individuals and businesses. With a rich history and a strong presence in the insurance industry, FPG Insurance is dedicated to delivering reliable and customer-centric services tailored to meet the unique needs of our clients
Intrastrata Assurance is one of the country's oldest and leading non-life insurance companies, established in 1959 as the Overseas Insurance Company. It changed its name in 1987 under the leadership of prominent businessman Antolin M. Oreta, Jr.
Liberty Insurance Corporation is a car insurance company in the Philippines operating for over 50 years. Established in 1953, Liberty Insurance is a leading partner in the non-life insurance industry with a robust offering of products and services.
MAA General Assurance Phil., Inc. (MAAGAP) was established in the Philippines when its parent company, MAA International Group Ltd. (MAAIG), an offshore composite insurance company from Malaysia, expanded its business in Asia. MAA acquired its insurance license from Paramount Insurance Corporation and was renamed MAA General Assurance Phil., Inc.
Enrique T. Yuchengco started the Malayan Insurance Company in 1930. For over 90 years, it built a reputation of trust and quality through excellent insurance protection and a hassle-free claims process.
By launching its e-commerce website in 2013, Malayan made it easier for car owners to insure their vehicles, living up to its commitment to making insurance accessible to all. It was one of the pioneers of online transactions in the insurance industry.
One of the top non-life insurance companies in the Philippines, Malayan Insurance has consistently topped the Insurance Commission's rankings for gross premiums written since 1970.
Read more: Malayan, Philippine Leader in Non-Life Insurance, Partners With Online Broker Moneymax
Mercantile Insurance Co., Inc. came to the insurance scene in 1962, eventually expanding its branches to Cebu, Davao, Cagayan De Oro, and Dagupan. It strives to get more people insured with Mercantile car insurance as it partners with established brands in the Philippines.
Mercantile Insurance posted growth in net premiums from ₱400 million in 2014 to ₱2 billion in 2020—making it one of the country's most promising non-life insurance providers.
Milestone Guaranty and Assurance Corp. started operations in 1962 as the Eastern Assurance & Surety Corporation, at a time when only a few auto insurance companies were operating. Today, under its current form, it remains committed to providing clients with top-notch non-life insurance policies.
If you’ve been looking for MAPFRE car insurance reviews in the Philippines, don’t be surprised if the results give you OONA Insular Insurance Corporation. Formerly MAPFRE Insurance, OONA Insular Insurance Corporation is jointly owned by OONA Insurance Holdings Corporation and Insular Life Assurance Co.Ltd., one of the oldest life insurance companies in the Philippines.
Establishing its foothold as one of the country's best insurance companies, OONA Insurance Philippines ranks among the top non-life insurance providers in the country in a wide range of criteria, including net premiums, earned premiums, and assets. Its lineup includes OONA car insurance and other products like fire insurance, personal accident, and micro insurance.
Oriental Assurance Corporation (OAC) 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 Assurance has distinguished itself as a major player in the Philippine insurance market.
Since its 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 it ever issued was for former President Jose P. Laurel, Sr.
Paramount Life, which traces its roots to 1950, has a composite license from the Insurance Commission for life and non-life insurance in the Philippines. Known for quick claims settlement, Paramount has established a strong market presence in a short amount of time. Since then, it has become the top insurance provider for OFWs.
With over 50 years of service as an insurance provider, Perla Compania de Seguros, Inc. (simply called Perla Insurance) was built to provide faster claims with 16 offices in major cities nationwide. It's also the preferred provider of most banks and financing companies.
Petrogen Insurance takes pride in being one of the fastest-growing non-life insurance companies in the Philippines. In terms of paid-up capital (₱3.485 billion), it's considered the country's largest insurer. Petrogen Insurance also has the second-highest net worth of ₱4.325 billion. Both distinctions signify the company's financial stability and performance.
This insurance company, owned by San Miguel Corporation, provides CTPL and comprehensive motor vehicle insurance.
Established in the 1960s, PhilBritish Insurance, formerly the Philippine British Assurance Company (PBAC), was one of the earliest companies to provide non-life insurance policies in the Philippines. PhilBritish Insurance has since made a name for its affordable rates and fast claims.
Being in the business of providing non-life insurance products for over 100 years makes the Philippines First Insurance Company, Inc. truly worthy of its name. Its Auto First Insurance product offers a wide range of coverage and road assistance services.
Pioneer Insurance and Surety Corporation[6] was established in 1954, specializing in non-life insurance policies, including Pioneer car insurance and property, marine, and aviation insurance. Since then, it has expanded its business model, forming the Pioneer Group.
Pioneer is considered one of the top insurance companies, with several Best Insurer awards in the Philippines and Asia. Check out Pioneer car insurance reviews in the Philippines online to learn more.
Formerly The Premier Insurance & Surety Corporation, this non-life insurance company has one of the highest net worths in the Philippines, signifying its financial stability. Its car insurance coverage includes loss or damage. It also offers CTPL as a separate product.
Veteran insurance broker Robert Coyiuto built Prudential Guarantee and Assurance, Inc. from the ground up in the early 1980s. With its gross premiums written reaching more than ₱9 billion, Prudential Guarantee is now one of the Philippines' largest non-life insurance companies[7] today.
Read more: Prudential Guarantee Strengthens Auto Insurance Program Through Partnership with Moneymax
SGI Philippines, formerly Monarch Insurance Company, Inc., came about in 1964. It is a joint venture of Indian financial services conglomerate Shriram Group and the SANLAM Group, the largest insurance company in South Africa. Since then, it has forged a reputation as one of the top insurance providers in the country with paid-up capital of over ₱1.33 billion.
SGI Philippines offers car, fire, engineering, marine, miscellaneous, and personal accident insurance.
Since its creation in 1958, Standard Insurance has been the country's leading company providing general fire and standard car insurance. Under its partnership with Zurich Insurance, this multi-awarded firm remains one of the top car insurance companies.
Established in 1960 as First Continental Assurance Company, Inc., it eventually changed its 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."
As of December 31, 2022, Sterling Insurance has a paid-up capital of ₱1.387 billion and more than 40 branches nationwide.
Stronghold Insurance Company, Inc., a wholly owned Filipino insurance company, had its humble beginnings when it was incorporated as the then-Mabuhay Insurance & Guaranty Co., Inc. in 1960. It has been licensed to offer all types of policies, such as Stronghold car insurance and fire, marine, and suretyship insurance.
Another dominant player in the non-life insurance industry in the Philippines is Travellers Insurance & Surety Corporation or TRISCO. Established in 1964, TRISCO had one of the highest paid-up capital (rank 3 of 55) and net worth (rank 14 of 55) in 2022.
Established in 1964 with only eight employees and 10 agents, Western Guaranty Corporation grew to become one of the largest non-life insurance providers in the Philippines. Its policies include fire, car, casualty insurance, microinsurance, and bonds.
Note: If you’re looking for New India Assurance car insurance reviews in the Philippines and can’t find any results, this is because the company has decided to run-off its Manila operations effective January 1, 2023. It no longer issues new or renewal policies but continues discharging all obligations or liabilities for policies already issued before January 1, 2023.
Choosing a car insurance provider isn't just about finding the lowest premium—it's about making sure you're dealing with a company you can rely on when you need to file a claim.
A legitimate insurer should be properly licensed, financially stable, and committed to providing quality service throughout your policy. Before you buy car insurance, take a few minutes to verify the company using these steps:
Check out these tips:
With some research, you can get a good deal. Here's a table summarizing coverage from various providers for your quick reference.
The Insurance Commission regularly ranks insurance companies and makes such information available on its website. The best car insurance providers are based on criteria such as net worth, gross premiums written, net income, and paid-up capital.
This list of the top 10 car insurance companies in the Philippines is based on net worth and data from the Insurance Commission (as of December 31, 2023).[10]
With some research, you can find an insurance policy that meets your needs and fits your budget. Here are four considerations to remember if you're wondering how to choose a car insurance company in the Philippines:
Coverage refers to the amount of money the insurance company will pay if you have an accident or other incident covered by your policy. The higher the coverage, the higher the premium (monthly payments).
When choosing a policy, ensure you have enough coverage to protect yourself financially in case of an accident or other incident.
No one wants to overpay for their coverage. But at the same time, you don't want to sacrifice essential features or be underinsured. So, how do you strike the right balance?
The cheapest policy might not always provide the best value. When looking at policies, it's essential to compare apples to apples.
Make sure you're comparing similar coverage levels. Otherwise, you could pay more in the long run when you need to make a claim.
The cost of your policy can change over time. As your car depreciates every year, so do your premiums. Review your policy regularly and ensure it meets your needs and budget.
Read more: Where to Pay Your Car Insurance: 9 Convenient Payment Options
In the event of an accident or other incident, the claims process will determine how quickly and easily you can get your claim paid out. Look for a few key things when assessing the claims process of a potential insurer.
Read more:
When you're involved in an accident, or your car is damaged or stolen, you need to know that your insurer will help you through the claims process.
A good customer service team is available 24/7 to answer your questions and help you resolve any problems. The insurance company should also have a team of experienced adjusters who can quickly and efficiently assess your claim and get you your payout.
In addition, a good customer service team will work with you so that you’ll get the best possible rate on your premiums. You should feel assured that you're in good hands in case of an accident.
The Philippines has three types of car insurance coverage: liability, comprehensive, and collision.
All three types of coverage are important. But the one you choose will depend on your individual needs and circumstances.
Consider getting comprehensive or collision coverage if you drive a lot or live in a high-risk area. If you have a newer car, collision coverage is ideal. And if you have an older car, consider opting for liability coverage.
No matter what type of coverage you choose, shop around and compare rates before buying a policy.
Here are three basic principles to help you understand how insurance providers earn money.
When you buy an insurance policy, you must pay a premium fee. Insurance providers put this premium on short-term and long-term interest-earning investments to grow and secure their funds. Interest earnings represent a significant source of the overall profits insurance companies generate.
Underwriting income derives from the difference between how much money insurers collect for policies and how much money insurers release when a client files a claim.
For example, if a client pays ₱20,000 for a premium policy with a validity of one year but only submits ₱5,000 worth of claims, the insurance company automatically earns ₱15,000 from that client.
However, if the insurance provider pays more than ₱20,000 for the claim, it suffers a loss.
Insurance providers also buy policies for themselves. When insurers have too many claims, they purchase policies from other providers to keep them in business. This strategy uses the concept of shared risk and limits of liability.
The Insurance Commission regulates the operation of life and non-life insurance companies in the Philippines. If you have any car insurance claim disputes, contact the Commission at the following hotlines:
You can always consult two or more insurance providers. But it's best to pay for just one policy. You'll risk violating the policies of one or both providers, eventually ending up with no protection.
If you feel like your current auto insurance policy is lacking, avail of add-ons to your current coverage or change your car insurance provider. That's cheaper than paying a second premium to a different insurance provider.
It’s a type of coverage that protects your car from damage resulting from road accidents, natural or man-made calamities, and theft.
Road accidents are one of the leading causes of death in the Philippines. That’s why you need to get a car insurance policy. It protects you from the hefty repair fees in the event of an accident, freeing you from financial woes.
Auto 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 time to compare the top car insurance companies in the Philippines. Get started by getting a free quote below.
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