Truly, car insurance monthly premiums don’t come cheap – neither any kind of insurance nor any that has ‘monthly premiums’ in it. Your age, gender and sometimes, the profession can help in making cheaper car insurance premiums. The problem is that you can’t do anything about it. (Ha!) Here are achievable ways to minimize your monthly premium. Bring your money back to your pocket with these tips:

Examine your coverage

Read all the details on your car insurance. It literally and figuratively pays to know every detail, line-by-line, of your cover; remove items that you think you don’t need. For instance, you don’t need a rental car while your car is being repaired because you have car #2. Or an additional personal accident coverage since you already are covered by your medical insurance from your office. Save more by trimming down your coverage.

Understand your ‘Excess’

Excess something that you have to pay your insurance company before you receive the full amount of your claim. If you do the math, your insurance company will pay you if the cost of the claim exceeds the excess. Otherwise, you will pay them. Then how could it be a money-saving move? If you think you are a better driver with a good record, choose a higher ‘excess’. But if you think you’re a bit of accident-prone, it’s smart to choose a lower ‘excess’.

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Ask for higher deductibles

Don’t use your coverage for minor scratches, but only for major losses. Request for higher deductibles that will substantially lower your monthly cost.


Yes, you can haggle. Ask for discounts and available promos especially if you don’t use your policy or you own more than a few policies under your name. Or consider dropping or reducing your coverage if you have second-hand or older cars. Talk about depreciation costs in case of claim which is dependent on the age of your car.

Drive safely

The easiest and most important way to save money on your car insurance is simply to drive safely all the time and not use your cover. Some insurance companies offer a No-Claim Discount for every year you drive without any damage. The longer you don’t use the cover, the higher discount you could get. You can save thousands of PHP!

In this day where every move you make involves money, savings – how much or less is it – count. Call your car insurance providers now and inquire about these money-saving tips.

Read more: I Got Into a Car Accident: Where Should I File a Vehicle Claim?


Car Insurance CompanyMaximum Total Sum InsuredCasa EligibilityAccredited Repair ShopsOvernight AcommodationTowing ServicesVehicle Removal Crane Services

SGI Philippines

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₱5 million5 years36Up to ₱2,000Up to ₱5,000₱10,000

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₱7.5 million3 years58Up to ₱1,000Up to ₱4,000Up to ₱8,000

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₱5 million10 years77Up to ₱2,000Up to ₱5,000Up to ₱10,000

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₱5 million10 years365Up to ₱3,000Up to ₱5,000Up to ₱10,000

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₱3.5 million10 years30Up to ₱1,500Up to ₱4,000Up to ₱10,000

Stronghold Insurance

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₱3 million10 years167N/AN/AN/A

Prudential Guarantee

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₱3 million10 yearsN/AUp to ₱2,000Up to ₱5,500Up to ₱15,000