Updated on April 21 2024

As a prerequisite for car registration and renewal, the LTO requires liability insurance. While limited, there’s another type for most of what you need Comprehensive insurance offers a better safety net that shields your accident-related event, which may not be your fault. Ric lazo of Automart sheds light on this.

It’s never arguable that having comprehensive insurance translates to a peace of mind as it will help cover the expenses when your vehicle got destroyed or lost. When the car is insured, and catastrophe strikes anytime, your focus then is not on the vehicle anymore but on the safety and security of your passengers or the third-party.

Compulsory Third Party Liability

A car can be dangerous when handled by an irresponsible driver. To protect the general public, CTPL is mandatory for all vehicles in the Philippines. It’s basic car insurance for every motorist. It’s then illegal to drive or operate without such. CTPL provides financial protection and compensation for third-party expenses, subject to the policy limits, arising from accidents once they get bodily injury or even death involving the insured car but doesn’t cover damage or loss to property of the third party and the insured.

A third-party liability is purchased from an insurance company as remuneration against third-party claims for a loss caused by the insured vehicle, which the provider agrees to pay a predetermined amount as assistance to aggrieved claimant whose injuries require hospitalization that may result in disability and/or death.

A “third party” is any person other than your passenger, not a family member of the insured vehicle owner. Hence, CTPL will “cover only legal liability for third-party injury or death from the accident but won’t cover you in case of injury.”

Comprehensive Insurance

It’s an optional policy in the country but many prefer this also to give the kind of protection they need against many risks. Depending on your coverage, basic protection provides for personal accident and damage including theft or riots; some acts of nature; and repair costs. True enough, an accident may deplete savings. Comprehensive type covers out-of-control damages or repayment for totalled. Some companies offer full insurance both comprehensive and collision events and add-on fees.

The road is full of risks and uncertainties and you can leave your safety and your property to hostile chances. Insurance premium depends on the market value of the vehicle and on how much you can pay but when the coverage is extensive, expect for a higher amortization.

Insurance policies offer certain protections against uncertain circumstances. Accident worries entail huge expenses for any damages sustained. Comprehensive insurance is usually tied with collision coverage and works distinctively that covers accident-related and personal damage, and includes damages from predetermined natural disasters or prearranged risks.

Assurance PH

Assurance.PH can help you figure out the coverage you may need. As per the basic, comprehensive insurance may include a variety of add-on services for top-up fees like own damage, pet injury, property damage, and civil disobedience or street riot.

It’s a better option to find the right insurance policy. Assurance PH is a partner of Automart and Motormart, in providing quality insurance services to our valued clients. It’s an agency operating under Mabuhay Insurance Agency Corporation. No doubt, Assurance PH is a go-to partner as it offers sound financial protection to satisfy your losses in accident-related events. It aims to maximize customer satisfaction, with “easy-to-understand insurance products.” For inquiries, chat with our insurance representative or send an email at contact@assurance.ph. Ride safely and assure yourself proactively as we’re more than glad to serve you.

Automart.PH offers a wide selection of used cars at great prices, ranging from compact cars to pick-up trucks, that suit your needs.

And if you’re looking for the finest used cars, check out Automart.PH Certified Used Vehicles. These are restored until they feel like new again. They also come with a three-day money-back guarantee and, for Gold Certified units, a one-year warranty.