Top Car Insurance in the Philippines: How and Where Can You Get It?

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Moneymax

Last updated October 20, 2021

Your duties as a responsible car owner don’t end with religiously following traffic rules or being a patient driver. You also have to set up a few measures that will protect you and your passengers from the uncertainties of the road. In this case, you need to get the right car insurance policy.

Buying car insurance, however, isn’t as easy as you think. You can’t just purchase the first offer that comes your way. The whole thing takes some research and skill. Ending up with the right provider will not only offer you the ideal protection but also help you reduce insurance costs.

If you’re a first-time car owner looking to insure your car or someone planning to switch to a new provider, this guide is for you. Here are some of the things to remember so you’ll be able to find the top car insurance in the Philippines.

5 Factors to Consider When Choosing the Right Car Insurance Company

You need to have a set of standards when choosing the right car insurance company. If you don’t know where to start, you can use the following as your criteria:

1. Legitimacy

top car insurance in the Philippines - legitimacy

While the insurance business is a regulated industry, there are still some fraudsters who will prey on clueless customers. With that, you need to determine the legitimacy of your prospective insurance company. 

Don’t be carried away by the professional tone and appearance of the agents or their office’s elegant atmosphere. If you want to make sure that you’re dealing with a legit company, you can always check with the Insurance Commission. This agency usually releases a list of insurance companies with a valid and existing Certificate of Authority.[1]

2. Scope of Service

Not all car insurance companies offer the same set of products. One may just offer a Compulsory Third Party Liability Car Insurance (CTPL) while the other may only specialize in comprehensive insurance policies. And there are some who offer both.

Before you choose an insurance company, assess your needs first. Is your neighborhood flood-prone? Then you need a provider that offers natural disaster coverage. Similarly, if you live in a community with a high crime rate, it’s wise to choose an insurance company that offers theft and malicious damage coverage.

3. Rates

Premiums of insurance policies vary greatly from one company to another. But normally, the value of top car insurance in the Philippines will depend on the type of car to be insured. Smaller cars, such as hatchbacks, may fetch cheaper price tags. Luxury cars, on the other hand, tend to have more expensive premiums. It must also be noted that insurance prices are also influenced by the car owner’s driving record.

We recommend that you get price quotes from at least three companies. This is much easier these days  as you can ask for a quote via the insurance company’s website. But if you want to save time and effort, you can use Moneymax’s comparison tool.  Find the cheapest and best deals on car insurance by using our proprietary platform. You can even apply right away if you think you’ve found the best option.

4. Customer Service

top car insurance in the Philippines - customer service

This factor is something that you should never ever overlook. Insurance services are essentially emergency services. If you need them right away, your insurance company should be able to provide you with the service you need as soon as possible. 

As such, you have to find out how easy it is to file a claim. One way to do this is by reading client reviews on different forum sites. Better yet, ask a family member or a friend about their experience in case their car insurance provider is part of your list.

Read more: Switching Car Insurance Companies: Step-by-Step Guide

5. Ease of Application

top car insurance in the Philippines - ease of application

You get an insight into an insurance company’s operations and efficiency when you file your application. If the processing of your application takes many weeks, or even months, don’t pursue it anymore. If its processing is slow and disorganized, how much more when it processes your claim?

Read more: How to Get Car Insurance for Second Hand Vehicles

Top 10 Car Insurance Companies in the Philippines

We’ve listed down reputable companies that offer top car insurance in the Philippines. This way, you won’t have to comb the internet for hours just to find legitimate providers. Nevertheless, we encourage you to visit the respective websites of these top car insurance companies to learn more about their products and services.  

1. New India Assurance

top car insurance in the Philippines - new india assurance

Founded in 1919, New India Assurance Co. Limited or NIAC has maintained its market leadership in India’s non-life business. Its 80-year presence in the Philippines is also a testament to the quality of services it offers.  

Why Choose New India Assurance?

  • Offers insurance coverage for private cars, commercial vehicles, and bikes
  • Has among the lowest car insurance rates
  • Offers comprehensive road assistance (access to critical information, towing, overnight accommodation, among others)
  • Offers 10 years of casa eligibility
  • Has 30 accredited casa repair shops
Apply Now

2. Stronghold Insurance

top car insurance in the Philippines - stronghold insurance

While the insurance industry is teeming with international players, this wholly Filipino-owned company has cemented its reputation as one of the most trusted providers. Stronghold Insurance offers comprehensive insurance tailored for every driving requirement.

Why Choose Stronghold Insurance?

  • Has strong partnerships with government agencies, banks, and financial institutions
  • Offers free legal services for any legal implications where the driver’s car is involved
  • Has affordable car insurance rates
  • Offers 10 years of casa eligibility
  • Has 167 accredited casa repair shops
Apply Now

3. Mercantile Insurance Corporation

top car insurance in the Philippines - mercantile insurance co. inc.

This 50-year-old insurance company prides itself on offering personalized services not just for private individuals but also for corporate clients. Its services are also easy to access as its branches are found in key cities throughout the country.

Why Choose Mercantile Insurance Corporation?

  • Offers insurance for bikes, buses, motorhomes, trailers, and road-building equipment
  • Provides comprehensive road assistance (access to critical information, towing, overnight accommodation, among others)
  • Offers extensive coverage (Acts of Nature, civil commotions, riots, and strikes)
  • Offers 10 years of casa eligibility
  • Has cheaper deductibles that can be waived three times in a year
  • Has 77 accredited casa repair shops
Apply Now

4. Malayan Insurance

top car insurance in the Philippines - malayan insurance

Another reputable local player, Malayan Insurance is undoubtedly one of the pillars of the non-life insurance industry in the country. It’s known for innovation and willingness to adapt to generational changes, as well as being one of the first insurance companies to offer online transactions.

Why Choose Malayan Insurance?

  • Offers comprehensive road assistance (alternative transport, towing, overnight accommodation, among others) and free 24/7 general claims assistance
  • Provides extensive coverage such as Acts of Nature,civil commotions, riots, and strikes, and  protection for car accessories (mags, aircon, audio components, among others)
  • Offers 3 years of casa eligibility
  • Has 58 accredited casa repair shops
Apply Now

5. Prudential Guarantee

top car insurance in the Philippines - prudential guarantee

Prudential Guarantee car insurance boasts its capability to offer more value-added services compared with other insurance providers. Its reputation as being one of the largest non-life insurance companies proves that it has gained the trust of many car owners in the Philippines over the years.  

Why Choose Prudential Guarantee?

  • Offers extensive coverage (accidental death and permanent disablement, accident medical expense reimbursement, accidental burial expense fund)
  • Provides value-added services (FREE vehicle retrieval, FREE alternative transport, FREE alternative overnight accommodation, FREE ambulance services, among others)
  • Offers 10 years of casa eligibility
Apply Now

6. MAPFRE Insular

top car insurance in the Philippines - mapfre insular

The stability and steadfastness of MAPFRE as an insurance business is proved by its 80 years of existence in the industry. What makes MAPFRE a cut above the rest is the flexibility it offers to its customers. This insurance company can customize policies to keep clients from paying unnecessary charges.

Why Choose MAPFRE Insular?

  • Offers customizable plans and  free legal assistance with each plan
  • Provides comprehensive road assistance (access to critical information, alternative transport, overnight accommodation, towing, among others)
  • Offers 10 years of casa eligibility
  • Has 366 accredited casa repair shops
Apply Now

7. SGI Car Insurance Philippines

top car insurance in the Philippines - sgi car insurance philippines

Since its founding in 1959, SGI Philippines has been offering services that help clients keep financial liabilities at bay. Other than its quality insurance products, among its core strengths is its customer support.

Why Choose SGI Car Insurance Philippines?

  • Offers insurance for commercial vehicles and motorcycles
  • Provides extensive coverage (personal accident rider, Acts of Nature, third party damage or loss, and CPTL)
  • Offers comprehensive road assistance (access to critical information, overnight accommodation, towing, among others)
  • Offers 5 years of casa eligibility
  • Has 36 accredit casa repair shops and customer support in more than 3,000 branches worldwide
Apply Now

8. AXA Car Insurance

top car insurance in the Philippines - AXA

If you want contactless transactions, AXA Car Insurance is one of your best bets. This is because you can process your application and access emergency services online. It boasts speed when it comes to giving quotes. Just visit its website and you can get a quotation in just one minute.[2]

9. Standard Insurance

top car insurance in the Philippines - Standard Insurance

An award-winning insurance company, Standard Insurance is working towards becoming one of the top 10 general insurers in the world by 2035.[3] You have assurance that the products and services it offers are top-notch since the company itself has been recognized by the following organizations: World Finance, Global Credit Rating, Co., and SGS.

Why Choose Standard Insurance?

  • Offers extensive insurance coverage (third party property damage, own damage, theft, unnamed passenger personal accident, among others)
  • Provides  free accident coverage and free roadside assistance program
  • Offers automatic technical assistance and casa repairs

10. FPG Insurance

top car insurance in the Philippines - FPG Insurance

Despite being in the industry for more than 60 years, FPG insurance knows how to keep up with the times. Aside from relevant insurance products, the company offers a whole new level of convenience by conducting some of its transactions online. You can actually buy insurance or file a claim on its website. 

Why Choose FPG Insurance?

  • Offers extensive insurance coverage (third party property damage, own damage, theft, cover for undeclared non-standard accessories, among others)
  • Provides free roadside assistance (towing, crane service, emergency fuel delivery, locksmith, among others)
  • Offers legal assistance
  • Provides medical assistance (hospital admission, appointment with health professionals, ambulance coordination, among others)
  • Offers personal assistance (hotel accommodation, relay of urgent messages, etc.)

Read more: How to Save Money on Car Insurance Premium

Final Thoughts

Responsible and self-aware drivers know that a car insurance policy is a must-have. Looking for the right car insurance company can be complicated. But you should resist the urge to take the easy way out (picking a provider with offers that are too good to be true or forgoing your insurance purchase altogether).

If you’re still asking how to apply for car insurance without the frills and needless procedures, you can always use our comparison platform to get an online car insurance quote for free. We also offer end-to-end car insurance services to help you save money and time. Just click the Car Insurance tab at the top of this page to get started.

Protect your car and your loved ones - get car insurance today!

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