Things To Know About CTPL Insurance Philippines

If you come from the Philippines, it is important to have Compulsory Third Party Liability (CTPL) insurance policy if you are a vehicle owner. This insurance policy is required before any motor vehicle can be registered with the Land Transportation Office (LTO), be it for personal or commercial use. The reason why you need CTPL cover prior to registration of the vehicle is to provide protection for the general public. When you purchase a CTPL insurance Philippines, you are given an insurance policy with conditions.

Attached to the CTPL policy is the Confirmation of Cover (COC). This COC will be showed to LTO upon registration as proof that your vehicle has third-party insurance cover. Among the details that are shown in the COC are the name of the assured, the insurer’s limit of liability as well as basic details of the vehicle such as serial Number, chassis number, color and plate number. Additionally, schedule of benefits such as death benefit, permanent disablement and dismemberment, funeral expenses, and limits for medical as well as hospital reimbursement are likewise shown in the schedule of benefits for death and bodily injury.

You can purchase CTPL insurance Philippines from any licensed insurance company. CTPL premium rates are mandated by the Insurance Commission across all insurance companies. Any deviation from the rate, be it be higher or lower, should be reported to the Insurance commission.

In the unfortunate event if an accident, a CTPL cover for a PUV provides a total death benefit of ₱100,000 for the passenger-victim and ₱100,000 for third-party victims. For a private vehicle, the ₱100,000 insurance coverage is usually for third-party victims only. Additionally, under the ‘no fault’ clause of this policy, a third-party victim is entitled to a sum of max of ₱15,000 without proving negligence.

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The Benefits of Comprehensive Car Insurance PH

If you are looking to insure your car in the Philippines, you should consider comprehensive car insurance PH. A comprehensive car insurance policy provides you and your asset the safety and security of any damage in the event of an accident. With this type of insurance coverage, you will be protected from any financial and collision damage that may be caused by an accident.

If you opt for compulsory only coverage, you may pay fewer insurance premiums, but just know that you will end up with coverage for third-party loss only. With the overall protection, i.e. fully-fledged comprehensive cover, you might be paying higher premiums, but the good thing is that it will provide you with add-ons giving protection from all kinds of risks to you and the third party. A comprehensive car insurance typically covers you for loss or damage from fire, theft, vandalism, natural disasters, accidental loss, and damage caused by animals or falling objects such as a tree or hail.

There are various reasons why comprehensive car insurance PH is better than a third party cover. While it is always assumed to be more expensive compared to the third-party insurance, in real sense it is not.  This type of cover grants your vehicle protection against a wide number of risks.

Comprehensive car insurance covers your car. A third-party liability insurance will only cover the damages caused to another party vehicle; as a result of an accident.  You will not be covered under such a policy. But with a comprehensive insurance policy, your car is covered too.

With comprehensive car insurance PH, you also get add-on coverage. You can opt for add-ons to enhance the coverage, which may include 24-hour roadside assistance, windscreen cover, towing and so on.

For more information on the benefits of comprehensive car insurance PH, visit our website at https://ichoose.ph/

Important Things To Know About Home Fire Insurance PH

Before you decide to purchase home fire insurance PH against your property, you need to consider the necessary aspects beforehand. Keep in mind that a fire outbreak can have the worst effect on your property, so purchasing the right insurance plan will be the best bet as it will protect you and your business from expected financial issues that arise out of fire damage. As and when such mishaps occur, you need to know your fire insurance claim process as well as documentary formalities because it will save you a lot of time.

While buying any home fire insurance PH plan against your property, you need to know certain things. One of them is that with fire insurance, you can have financial protection against unforeseen damage. This insurance covers the loss caused by destruction of moveable and immoveable property out of fire or other perils. There are various types of property that are covered under such policy, including machinery, building, plant, stock and content like fixtures, furniture and cables and so on.

Home fire insurance PH policies are issued for the period of one year with some exceptions, like for dwellings or residential properties. In the case of dwellings, a home fire insurance policy may be issued for the long term specifically for a period of 3 years at least. There are various other perils that are considered regarding fire insurance. A fire insurance policy may also cover explosions, lighting, landslide, bursting of water tanks, subsidence and impact damage. Keep in mind that loss resulting from war and warlike operations, breakdowns, burglary and housebreaking, nuclear perils, electrical/mechanical breakdowns as well as pollution or contamination are not covered under a home insurance plan​.

 For more information on home fire insurance PH, visit our website at https://ichoose.ph/

How To Shop For Car Insurance Parañaque

Buying the right car insurance Parañaque should not be hard at all if you know what to do. If this is something that you have every done in the past, it can be easy to know what to do in order to make sure that you are getting the best cover. However, if you are buying car insurance for the first time, you may need some help making the right choice. The following are of the things you should do in order to choose the right car insurance policy.

When looking for the right car insurance, one of the things you should do is compare annual rates. Before you settle on any cover, you should take your time to compare prices with other insurers. When you this, you will ascertain that you are getting the best deal. Most insurance providers have guidelines on available services as well as stipulated prices. An alternative is to use online insurance comparison tools before settling on a car insurance policy. Moreover, buying car insurance cover online is a time-efficient way to purchase a cover.

It is imperative that you buy your car insurance Parañaque from a trusted car insurance company. When choosing an insurance provider, you should not just settle for the first one you come across. Instead, you should take time to conduct research and read user reviews in order know more about the company. A top-rated insurance provider will have better services, fair rates and will process claim issues faster.

Before you start shopping for car insurance Parañaque, it is important to make sure that your credit score is good. You need to check your credit score frequently as this may affect your premium. Failure to pay back loans on time can put you in trouble as ultimately this will affect you when you want to buy a car and insure it.

 For more tips on how to shop for car insurance Parañaque, visit our website at https://ichoose.ph/