Car insurance is something that we don’t really put too much focus on. As we all know, car insurance policies are there in case of any accidents or theft involving a vehicle. This is to make sure that we don’t end up spending too much money when the time comes.
But, accident coverage is not the only benefit you can get out of your car insurance. Some policies also cover your passengers, roadside assistance like car towing (which can be expensive), changing tires, etc. and any damages to your car when it’s parked (yes, including theft – like when someone breaks into your car and steals your stuff inside).
As you might know already, insurance companies take into consideration the make and model, age, gender, and more when setting premiums aka how much you should pay for your car insurance. Every insurance company has its own calculation, but most of the car insurance Philippines have the same basic formula. So the difference should not be that big. However, it is always best to go to a reputable and well-known insurance company so you know you are incredible hands when you need to claim or use any of your benefits.
An important factor you need to know about car insurance is the difference between comprehensive and collision. Comprehensive car insurance policy offers protection against theft and damage caused by an incident other than a collision (like fire, flood, vandalism, falling electrical poles, rocks or trees, etc). While a collision car insurance policy offers reimbursement for any damages to your car when you hit another vehicle or other object (such as a tree or guardrail). These are optional insurance that protects your car on top of the liability insurance which is legally required because it covers the costs that involves injuries, death, or damage caused to another vehicle or property that you or another driver causes while driving your car (remember that a car insurance policy follows the car, not the driver. So if someone else is driving your car, that person is still technically insured).
Buying a car insurance Philippines can be tricky because you want to get the best price and benefits. You can either get an agent for this or do it yourself, either way, go to a reputable insurance company to avoid any problems or inconveniences.