In short
Cancel mid-term and the refund follows the short-period scale in the IC standard Private Car Policy (official source), mandatory for policies issued from 1 July 2023. The insurer keeps 20% of the premium after 1 month and 95% after 11 months.
No refund is due if a claim arose in the current period. On a financed car, the new policy must also meet the bank's rules.
CTPL can never lapse: Insurance Code, Sec. 401 (official source) sets a fine of at least ₱500.
- Best time to switch
- At renewal, new policy starting the day the old one ends
- Refund if you cancel
- IC standard policy short-period rates (from 1 July 2023): insurer keeps 20% to 95%
- Refund if the insurer cancels
- Pro rata
- Claim in the current period
- No refund on cancellation by you
- Cancelling CTPL
- Replacement filed with the LTO within 5 working days
- Higher deductible discount
- 6% at 0.75% of value; 12% at 1.00% (IC motor car tariff, October 2026)
How to switch car insurance companies
Start before your policy ends. Quote flows need your vehicle papers, and some insurers set age limits on the car.
Compare offers line by line using how to compare insurance quotes.
- Before step 1
- Your current policy schedule, OR and CR, and driver's licence
- If the car is financed
- The bank's insurance rules and the name it wants as mortgagee
- Done when
- The new policy schedule starts on your old expiry date and names the right owner
- Find your expiry date
It is on your policy schedule. FPG Mercantile's quote form asks for it too.
- Current policy schedule
- Get quotes with your papers ready
Standard's online quote asks for year, make, model, plate, colour, chassis, engine and MV file numbers.
- OR and CR
- Driver's licence
- Check the car qualifies
Malayan AutoMaster (official source) takes cars up to 8 years old, Cocogen up to 12. FPG Mercantile does not insure TNVS or for-hire units.
- Meet the bank's rules if financed
BPI, for one, wants the policy to name BPI as mortgagee and include acts of nature. Bank rules are in the car loan insurance requirements.
- Start the new policy on the expiry date
Pay before the old policy ends so the car is never uncovered for a day. You are done when the new insurer emails or hands you the policy schedule.
- Let the old policy lapse
At expiry nothing needs cancelling. Cancel only when you switch mid-term.
Where you can renew or buy a new policy online
Six insurers take comprehensive car insurance requests online. Standard, OONA and Pioneer also sell CTPL online.
The rest quote through agents, branches or email. Choose an online channel if your car fits its age limit; otherwise ask an agent or branch for a quote.
| Insurer | Online channel | Limits stated |
|---|---|---|
| Standard Insurance | Online quote and checkout; CTPL buy now | Private cars only |
| OONA Insurance | Online quote, pay online, policy by email; CTPL online | – |
| Malayan Insurance | AutoMaster quote and apply online, policy by email | Cars up to 8 years old |
| Cocogen Insurance | Online quotation for Auto Excel Plus | Cars up to 12 years; owner 18 or older |
| FPG Mercantile (formerly Mercantile) | Online quote request form | No TNVS or for hire; over 10 years needs ORCR and 4 photos |
| Pioneer Insurance | Proposal request online; CTPL through Pioneer Store | – |
Find an insurer
29 of 29 insurers
| Insurer | Sells | Online | Roadside | Acts of nature | Claims hotline |
|---|---|---|---|---|---|
 Alliedbankers Insurance | Comprehensive, CTPL | CTPL | Included | Optional | Not listed |
 Alpha Insurance | Comprehensive | Not listed | Included | Not listed | 0927 740 3299 |
 Asia Insurance Philippines | Comprehensive | Not listed | Not listed | Not listed | Not listed |
 Asia United Insurance | Comprehensive | Not listed | Not listed | Not listed | (632) 8242-1688 |
 AXA Philippines | Comprehensive, CTPL | Quote | Optional | Optional | (02) 8459-4735 |
 Bethel Insurance | Comprehensive | Not listed | Not listed | Optional | 0948-935-9950 |
 BPI MS | Comprehensive, CTPL | Quote | Included | Optional | (02) 8840-9999 |
 Cibeles Insurance | Comprehensive, CTPL | CTPL | Not listed | Not listed | Not listed |
 Cocogen Insurance | Comprehensive, CTPL, RideGuard, Auto Passenger PA Protect | Quote | Included | Optional | (02) 8830-6000 |
 Commonwealth Insurance | Comprehensive | Not listed | Not listed | Not listed | Not listed |
 Corporate Guarantee Insurance | Comprehensive | Not listed | Not listed | Not listed | +63 918 854 2267 |
 Country Bankers Insurance | Comprehensive | Not listed | Not listed | Not listed | Not listed |
 FGen Insurance (Fortune General) | Comprehensive, CTPL | Not listed | Not listed | Optional | (02) 8991-0364 |
 FPG Mercantile | Comprehensive, CTPL | Quote | Included | Included | (02) 8859-1200 |
 Liberty Insurance | Comprehensive, Vehicle classes | Not listed | Not listed | Not listed | Not listed |
 Malayan Insurance | Comprehensive, CTPL, MotoOne | Quote | Included | Not listed | (02) 8628-8628 |
 Oona Insurance | Comprehensive, CTPL, Auto Liability | Quote | Included | Optional | (02) 8876-4400 |
 Pacific Union Insurance | Comprehensive | Quote | Not listed | Optional | Not listed |
 Paramount Insurance | Comprehensive | Quote | Not listed | Optional | (02) 8772-9225 |
 Petrogen Insurance | CTPL, Comprehensive | Not listed | Not listed | Not listed | (02) 8702-4972 |
 PGA Sompo | Comprehensive, CTPL | Not listed | Included | Not listed | +63 917 562 2100 |
 PhilFirst Insurance | Comprehensive, CTPL, Motor Car (business fleet) | Not listed | Included | Included | (02) 8892-8888 |
 Pioneer Insurance | Comprehensive, CTPL, EV One | Quote | Included | Optional | (02) 7750-5433 |
 Prudential Guarantee | Comprehensive, CTPL | Not listed | Included | Not listed | (02) 8806-6089 |
 SGI Philippines | Comprehensive, Commercial Vehicle Insurance, Motorcycle Insurance | Not listed | Not listed | Included | +63 2 8848 0188 |
 Standard Insurance | Comprehensive, CTPL, Motorcycle Protect, Truck Protect | Quote | Included | Not listed | (02) 8845-1111 |
 Sterling Insurance | Comprehensive | Not listed | Not listed | Not listed | Not listed |
 Stronghold Insurance | Comprehensive | Not listed | Not listed | Not listed | (02) 8891-1329 |
 Travellers Insurance | Comprehensive, Other motor classes | Quote | Not listed | Optional | 0917 129 9359 |
How to cancel car insurance and what you get back
Under the IC standard Private Car Policy (official source) adopted by IC Memorandum Circular 2022-02 (official source), you may cancel at any time. The refund is the premium minus the insurer's short-period charge for the months the policy ran.
If any claim arose in the current period, there is no refund. When the insurer cancels instead, it refunds pro rata.
Malayan's policy adds that documentary stamp tax stays with you on cancellation.
| Months in force | Insurer keeps | Months in force | Insurer keeps |
|---|---|---|---|
| 1 | 20% | 7 | 75% |
| 2 | 30% | 8 | 80% |
| 3 | 40% | 9 | 85% |
| 4 | 50% | 10 | 90% |
| 5 | 60% | 11 | 95% |
| 6 | 70% | 12 | Full term |
Worked example: cancel after 6 months and the insurer keeps 70%, so every ₱10,000 of premium returns ₱3,000 at most. Switch at renewal instead and nothing is lost. To time it, check the expiry date on your schedule first.
Cancelling CTPL and letting cover lapse
CTPL is the one cover you cannot simply drop. Cancelling it needs a replacement policy, with the papers filed at the LTO within 5 working days under the IC standard policy.
An insurer that cancels CTPL must give 15 days' written notice to you and to the LTO (Insurance Code, Sec. 393). The LTO then takes the plates unless you show new cover.
Driving with no CTPL in force is unlawful. Insurance Code, Sec. 401 (official source) sets a fine of at least ₱500 and up to 6 months in prison.
The LTO will not renew a registration without it either. A comprehensive policy that lapses carries no penalty, but the car is uninsured from the expiry date.
The price and rules of CTPL are in the CTPL guide.
Ways to lower the price when you renew
The IC motor car tariff (official source) gives a written discount for taking a higher deductible. You pay more of each claim yourself, and the premium drops by a fixed share.
Choose a higher deductible if you rarely claim and can pay ₱4,000 of a repair; otherwise keep the standard 0.50%. Run the numbers on your car with the premium calculator.
| Deductible you choose | Minimum | Discount on the premium |
|---|---|---|
| 0.50% of sum insured (standard) | ₱2,000 | None |
| 0.75% of sum insured | ₱3,000 | 6.00% |
| 1.00% of sum insured | ₱4,000 | 12.00% |
| Higher | – | At the insurer's discretion |
Selling the car: transfer, not cancel
When the car changes owner, the cover can move with it. The standard policy has the old owner, the new owner or both coordinate with the insurer.
The insurer transfers the policy by endorsement or issues a new one in the buyer's name. The new owner should get the transfer endorsement before driving away, so the cover follows the car.
This guide covers private cars on the IC standard policy. Refused a refund the standard policy allows?
The IC's Public Assistance and Mediation Division takes complaints for free, per the IC Citizen's Charter 2026 (official source).