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What is car insurance coverage?

While buying a car in the Philippines have been a cheap shopping trip these days (you can briing home one for as low as P20,000 downpayment!), considering one should always go alongside buying a comprehensive car insurance coverage.

Car insurance has two major types: the mandatory Compulsory third-party liability (CTPL) and the much-needed Comprehensive car insurance plan (or as your dad and uncle might call it, compre). CTPL insurance has a lot less car insurance coverage and lower benefits that you can buy at around P600 per plan, which is why most people pair their CTPL insurance plans with a comprehensive plan. Comprehensive plans are more expensive, but they sure can take you out of the messiest situations like car collissions or grave injuries.

Car insurance coverage talks about the list of benefits of your plan and the amount the insurance company will cover you for each risk. In this edition of the GoBear Guides, we talk about each car insurance coverage and an option of plans for you to choose from.

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Personal Accident Insurance Coverage

A personal accident insurance coverage is one of those car insurance coverage types that provide medical and hospital benefits for the driver of the insured car, as well as its passengers. More detailed benefits include treatment, medications, and in some cases, compensation in the event of death.

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Voluntary Third Party Liability Insurance

A voluntary third party liability insurance, which is also called excess liability insurance or excess casualty insurance, is one of auto insurance coverage types that kicks in when the insured car gets in an accident with another vehicle. Two underlying benefits include coverage for body injuries and property damage.

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Own Damage and Theft Coverage

Own damage and theft car insurance coverage, covers you from risks of car napping, vandalism, theft of parts, fire or external explosion, and damage to your car while in transit. It's that one car insurance coverage you must have, especially braving the streets of Manila.



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Acts of God or Acts of Nature Coverage

Being a country full of twists and turns by mother nature, it's hard to have a car without an Acts of God or Acts of Nature coverage. With this handy, you are covered against storms, floods, earthquakes and other forms of force majeure events.



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Insurance Riders or Optional Add-ons

A comprehensive car insurance plan has some additional benefits that are optional, including roadside assistance, towing services, or just when you got locked out of your car in the middle of nowhere. Check out this car insurance coverage now.

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Sum Insured
For best protection, the insurance coverage you need should be equal to the prevailing price of your car today. For example, if your car is worth ₱700,000, then choose the same amount in this section. You can also choose to insure your car for 10% lower or higher than your declared car value.
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