Based on my experience, car insurance can be heaven’s sent or a pain in the arse.
Nevertheless, it has always been essential to car owners. In fact, it is a legal requirement to get Compulsory third party liability (CTPL) insurance.
Truthfully, people nowadays could be potential car owners. With heaps of flexible payment schemes, buying a car is now trouble-free. But what everyone doesn’t realize, purchasing is just the tip of the iceberg.
There is a multitude of things to consider, one of which is the car insurance.
If you have a car like this, I’m sure insurance heads the list! HAHAHA! (Toyota FT-1)
How does car insurance work in the Philippines?
Usually, when you buy a car from the dealership, insurance is already included. But if you choose to do it your way, you can always buy your insurance at the Land Transportation Office (LTO). On the other hand, a comprehensive plan is more helpful, yet a little more expensive. It could cover collision and upset, physical damage other than collision, loss by theft, fire, flood and in most cases, extended liability.
In addition, most of the car insurance companies cover all kinds of vehicles in the Philippines. It is, however, their discretion whether it’s worth to insure or not, especially, if the car is already old and dilapidated. According to Moneymax.ph, car insurance companies can accommodate cars in good working condition, and with a market value of not less than P250,000.00.
Aside from expenses for maintenance and gasoline, driving your own car also has its dangers, so there is one important factor that you must keep in mind – insurance. You may be a good driver but what about the drivers around you? Vice versa, mistakes happen when you least expect it.
As luck would have it, Toyota’s Prius C is equipped with safety features such as temperature gauge, battery life indicator, since it is a hybrid car and a cruise control.
However, car insurance doesn’t only cover vehicular accidents. Ideally, it also covers damages caused by acts of nature such as floods or a tree falling on your car. Of course, having the problem fixed out of your own pocket may require you to pay exorbitant amounts.
Luckily,there are insurance companies that cover these incidents. Therefore, it is a salient feature to have.
Let me give you 5 reasons why you need car insurance.
5. It serves as protection
Your car may be one of the biggest investments you will make aside from your home.
If you’re thinking of getting a new vehicle, I suggest investing in the 2016 Toyota Innova. All the essential features you’re looking for a car are with Innova. You will love the trays, too!
The hard earned money you spent on purchasing your auto will not go to waste should you have decent insurance. Depending on your coverage, your insurance can provide financial protection in the event of your vehicle being damaged. It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property.
4. It gives you peace of mind
Personally, nothing beats convenience and peace of mind. With how fast-paced everything is now, you’ll need someone to help you alleviate stress. Instead of worrying about your car, leave it to the experts, which is your car insurance company. Yes, being out on the road poses dangers. No matter how defensive you are, you can never be too sure about other drivers on the road. It can be comforting to know that you are protected out there.
3. Car insurance could give you full coverage
Although expensive, it is best to choose car insurance that covers collisions and acts of nature. Our weather changes drastically, so it’s better to be safe than sorry. Furthermore, look into having your car insured from vandalism and theft. Again, peace of mind matters.
2. Medical Expenses
Good car insurance coverage can also save you from financial impact. Your coverage can cover payment for medical bills of other parties and damage to non-moving objects.
1. Protection of your assets
Aside from the legal requirements, if you are in an accident and you are at fault you can be held liable for the costs of bills if a person is injured or God forbid killed. A lawsuit may result to you selling your assets if you’re unable to pay the costs. If you have car insurance, it could also be covered. Depending on the terms you’re getting, this is possible.
There are heaps of car insurance companies out there. Be meticulous. When in doubt, ask until you find your peace of mind.
It is a must that you review your insurance policy and make sure you understand it since every policy varies. Depending on your financial capabilities, they may choose a certain type of coverage for you over another for different reasons.
Whether you are an experienced driver or not, good insurance coverage will save your behind when you get into a bind. But the best defense against accidents and unnecessary expenses is still being careful on the road.
Choose wisely.
How about you: what is your main reason for getting car insurance? Let’s exchange notes in the comments!
Millie is currently working as the Features Editor for WhenInManila.com. She loves to collaborate, organize workshops, photography, cook, and eat. When she’s not busy, she reads and travels with the family to discover beautiful places. She also believes that it is only when you get out of your comfort zone that you will truly realize who you are.
5 Essential Reasons Why You Need Car Insurance
Based on my experience, car insurance can be heaven’s sent or a pain in the arse.
Nevertheless, it has always been essential to car owners. In fact, it is a legal requirement to get Compulsory third party liability (CTPL) insurance.
Truthfully, people nowadays could be potential car owners. With heaps of flexible payment schemes, buying a car is now trouble-free. But what everyone doesn’t realize, purchasing is just the tip of the iceberg.
RELATED: 7 Essential Tips to Consider Before Buying a Car
There is a multitude of things to consider, one of which is the car insurance.
If you have a car like this, I’m sure insurance heads the list! HAHAHA! (Toyota FT-1)
How does car insurance work in the Philippines?
Usually, when you buy a car from the dealership, insurance is already included. But if you choose to do it your way, you can always buy your insurance at the Land Transportation Office (LTO). On the other hand, a comprehensive plan is more helpful, yet a little more expensive. It could cover collision and upset, physical damage other than collision, loss by theft, fire, flood and in most cases, extended liability.
In addition, most of the car insurance companies cover all kinds of vehicles in the Philippines. It is, however, their discretion whether it’s worth to insure or not, especially, if the car is already old and dilapidated. According to Moneymax.ph, car insurance companies can accommodate cars in good working condition, and with a market value of not less than P250,000.00.
Aside from expenses for maintenance and gasoline, driving your own car also has its dangers, so there is one important factor that you must keep in mind – insurance. You may be a good driver but what about the drivers around you? Vice versa, mistakes happen when you least expect it.
As luck would have it, Toyota’s Prius C is equipped with safety features such as temperature gauge, battery life indicator, since it is a hybrid car and a cruise control.
However, car insurance doesn’t only cover vehicular accidents. Ideally, it also covers damages caused by acts of nature such as floods or a tree falling on your car. Of course, having the problem fixed out of your own pocket may require you to pay exorbitant amounts.
Luckily,there are insurance companies that cover these incidents. Therefore, it is a salient feature to have.
Let me give you 5 reasons why you need car insurance.
5. It serves as protection
Your car may be one of the biggest investments you will make aside from your home.
If you’re thinking of getting a new vehicle, I suggest investing in the 2016 Toyota Innova. All the essential features you’re looking for a car are with Innova. You will love the trays, too!
The hard earned money you spent on purchasing your auto will not go to waste should you have decent insurance. Depending on your coverage, your insurance can provide financial protection in the event of your vehicle being damaged. It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property.
4. It gives you peace of mind
Personally, nothing beats convenience and peace of mind. With how fast-paced everything is now, you’ll need someone to help you alleviate stress. Instead of worrying about your car, leave it to the experts, which is your car insurance company. Yes, being out on the road poses dangers. No matter how defensive you are, you can never be too sure about other drivers on the road. It can be comforting to know that you are protected out there.
3. Car insurance could give you full coverage
Although expensive, it is best to choose car insurance that covers collisions and acts of nature. Our weather changes drastically, so it’s better to be safe than sorry. Furthermore, look into having your car insured from vandalism and theft. Again, peace of mind matters.
2. Medical Expenses
Good car insurance coverage can also save you from financial impact. Your coverage can cover payment for medical bills of other parties and damage to non-moving objects.
1. Protection of your assets
Aside from the legal requirements, if you are in an accident and you are at fault you can be held liable for the costs of bills if a person is injured or God forbid killed. A lawsuit may result to you selling your assets if you’re unable to pay the costs. If you have car insurance, it could also be covered. Depending on the terms you’re getting, this is possible.
There are heaps of car insurance companies out there. Be meticulous. When in doubt, ask until you find your peace of mind.
It is a must that you review your insurance policy and make sure you understand it since every policy varies. Depending on your financial capabilities, they may choose a certain type of coverage for you over another for different reasons.
Whether you are an experienced driver or not, good insurance coverage will save your behind when you get into a bind. But the best defense against accidents and unnecessary expenses is still being careful on the road.
Choose wisely.
How about you: what is your main reason for getting car insurance? Let’s exchange notes in the comments!
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About The Author
Millie is currently working as the Features Editor for WhenInManila.com. She loves to collaborate, organize workshops, photography, cook, and eat. When she’s not busy, she reads and travels with the family to discover beautiful places. She also believes that it is only when you get out of your comfort zone that you will truly realize who you are.