This page answers some frequently asked questions about car insurance in the Philippines. If you were looking for our general website FAQ, please visit the MoneyMax.ph FAQ page.
There are various reasons as to why car owners and drivers are required to have car insurance
A major part of insurance of any kind is risk assessment; the more likely you are to make an insurance claim
The simple fact is that cars are not considered equal. Certain cars are more expensive
When applying for car insurance
Compulsory Third party Liability (CTPL) Insurance is a state requirement that imposes that all vehicles must be covered against liability for death and bodily injury to third parties before registration and operation.
A totalled car is a car that is considered to be beyond repair. In insurance terms
Comprehensive insurance is an insurance policy that covers almost everything: collision
It certainly would not hurt. Medical payment coverage covers all medical expenses to all involved parties in an automobile accident
If hit by an uninsured motorist
When making a claim, presenting certain documents is required. These include photocopy of the car insurance policy, official receipt of policy, certificate of registration of the covered vehicle, official receipt of registration, photocopy of driver's license and receipt, stencil of motor number and serial number, police report or affidavit of incident (notarized), repair estimate, pictures of the damage, certificate of no claim of third party vehicles, carnapping report (if that is the case), whereabouts of insured unit and any documentation involving medical transactions.
Excess is the first part of the claim that the insured shoulders. For example