Motor Car Insurance

– Under the law, a motor vehicle must be insured against injuries or death that it may cause to third parties or those people outside of the car and not related to the owner of the vehicle.
This kind of insurance is called Compulsory Third Party Liability (CTPL) insurance.

And can expand your insurance to cover the following:

• OWN DAMAGE – protects you from losses arising from accidental collision, overturning, falling, fire and malicious acts of third party on your car.
• THEFT – protects your from carjackers who may steal your car.
• EXCESS BODILY INJURY – this can supplement your CTPL insurance and will answer for liabilities beyond what the CTPL covers.
• THIRD PARTY PROPERTY DAMAGE – this will cover damages to third party property arising from accident caused by your vehicle.

1. COMPULSORY THIRD PARTY LIABILITY (DEATH & BODILY INJURY) – is a pre-requisite for motor car registration. This is to protect the welfare of the public in cases of motorcar related accidents. To indemnify the insured for all sums necessary to discharge the liability of the insured in respect to bodily injury and/or death to Third Party. Amount of coverage is industry standard at P100,000.00 for all types of vehicles.
2. PRIVATE CAR POLICY – covers cars that are solely for private or personal use or for the insured’s business or profession.
3. COMMERCIAL VEHICLE POLICY – all vehicles not categorized as a private car and used mainly for carrying own goods in connection with the Insured’s business except carriage of goods for hire or reward.
4. MOTOR TRADE POLICY – covers insurance on vehicles for sale. Examples include cars displayed in showrooms and those intended for rewards.
5. Motorcycle Policy – in covers insurance arising from the use, maintenance and ownership of motor cycle.
6. LAND TRANSPORTATION OPERATORS POLICY – covers vehicles used for public transportation like taxi, buses, jeeps, and other vehicles used for hire and reward.