Car Insurance in the Philippines

If you got a new car, chances are you’re thinking of getting a car insurance in the Philippines. A car insurance protects you from any financial risks that come with owning a car. There are a lot of car insurance available in the Philippine market, if it’s your first time getting a car insurance, you’re probably not sure how they work. GoBear will walk you through the ropes on what you need to know about car insurance.

You’ll never know when you’ll be in a car accident or when you’ll suffer from bodily injuries because of a vehicular accident. Having your car risks you to unforeseen events such as these. Even more, the reason for you to consider getting a financial protection because these events cause a lot of money. Car insurances provide financial protection to car owners in the event of physical damage to the vehicle, death, or bodily harm to the owner and its passengers.

Car Insurance Philippines: How it works?

A car insurance is a contract agreed upon by the insurance company and the car owner. The car owner will pay the premiums, and the insurance company will pay any damages and losses as stated in the insurance policy once an accident occurred. With millions of vehicles in Manila sharing the road with you, car accidents may still happen no matter how cautious of a driver you are.

When getting a car insurance policy, the kind of insurance you prefer, the kind of vehicle you own, and the old of your vehicle will affect the kind of policy you will acquire. Car insurance companies offer various kind of coverage which subject to your needs.

There are standards that must be met before you can get a car insurance. Car insurance can insure cars that have a market value of not less than 250,000 PHP. Your car must be not lower than eight years old. If your car is an older car, it will cost more to insure than a brand new one.

To make it simpler, check out this GoBear infographic:


With a lot of insurance company available, it can be a bit overwhelming. Take note which car insurance coverage you want to get by reviewing and reading through the different information about car insurances. Keep in mind the kind of car insurance you need so you don’t have to feel overwhelmed with the number of coverage presented to you.

Compare insurance riders online: Why choose GoBear?



Finding the right insurance rider for your needs can be challenging. GoBear helps make the process easier by comparing various insurance companies and their current products and add-ons, so you can make the best decision. GoBear is simple, unbiased and free. Learn more about how GoBear can help you save time and money when it comes to car insurance by checking out our FAQ page.