In short
You insure today's market value, at the same 1.25% to 3.75% IC tariff (official source) range for own damage and theft (as of 1 January 2015).
On a car worth ₱600,000 today, that line is ₱7,500 to ₱22,500 a year before add-ons and taxes. Each insurer also caps the car's age, from 7 years online at AXA to 15 years at Pioneer through its agents.
The seller's policy does not pass to you by itself: cover moves only by endorsement or a new policy.
- Sum insured
- The car's current market value, your estimate on the schedule
- Rate range
- Same 1.25% to 3.75% as a new private car (IC tariff, as of 1 January 2015)
- Car age accepted
- 7 to 15 years, by insurer (October 2026)
- Seller's policy
- Transfers only by endorsement or a new policy
- Parts depreciation
- Starts once the car is over 3 years old
- CTPL
- ₱560 a year (IC Memorandum Circular 4-2006), required for LTO registration
How to insure a used car you just bought
Sort the insurance out before you drive the car home. The seller's policy names the seller, and it moves to you only through the insurer.
- Before step 1
- A signed deed of sale, the original OR/CR and the car's year model
- Done when
- A policy schedule in your name shows the car's plate, chassis and engine numbers
- Collect the papers
Get the deed of sale and the original OR/CR from the seller. Most quote forms ask for them.
- Deed of sale
- OR/CR
- Your driver's licence
- Ask about the seller's policy
If it still has months left, the seller and you can ask the insurer to transfer it by endorsement. Otherwise buy a new policy.
- Set the sum insured
Use what the car is worth today, not what the first owner paid. The insurer never pays more than the value on the schedule, so an old, low figure caps any theft or total loss payout.
- Check the insurer's age limit
Match the car's year model to the table below before you request quotes.
- Send photos if asked
Older units often need photos of all four sides before the policy is final.
- Transfer the registration
Register the car in your name at the LTO with valid CTPL. The LTO registration guide lists the papers.
How old a car each insurer will insure
Age limits are the biggest difference between insurers for a used car. Most apply to buying online.
An older car can often still be insured through an agent or branch, as Pioneer and Malayan say for theirs.
Photos are a common condition. FPG cancels its MyAuto Mate policy if 4 photos do not arrive within 15 days of issue.
Each insurer's full terms are on its profile: AXA, Malayan, FPG Mercantile, Pioneer, Cocogen and OONA.
| Insurer | Age limit | Condition |
|---|---|---|
| AXA | 7 years, online | Private cars, value ₱300,000 to ₱5,000,000, selected brands |
| Malayan AutoMaster | 8 years | Older cars: call customer service |
| FPG MyAuto Mate | 10 years | Subject to approval; 4 photos within 15 days |
| FPG Mercantile online form | Over 10 years accepted | Email OR/CR and 4 timestamped photos |
| Pioneer | 10 years online; 15 through its channels | TNVS cars accepted |
| Cocogen Auto Excel Plus | 12 years, online | Client 18 or older |
| OONA Auto Liability | Over 8 years accepted | Liability only, no own damage |
Work out what your premium adds up to
Example value to start. Pick your car or type the value your insurer uses.
The percentage on your quote.
Bodily injury, property damage and personal accident premiums from your quote.
Set by the city or municipality, up to 0.75%. The IC's CTPL table uses 0.75%.
Own damage and theft on a ₱1,000,000 car
₱15,656.25 to ₱46,968.75 a year
The IC motor tariff band of 1.25% to 3.75% of the car's value, as of 1 January 2015, with stamp tax, VAT and local tax added. The rate on your quote decides your actual premium. Acts of nature, bodily injury and property damage cost extra.
The tax working, on the CTPL premium for a private car
- Basic premiumCTPL premium, private car (IC tariff)
- ₱447.11
- Documentary stamp tax12.5% of basic premium (NIRC Sec. 184)
- ₱55.89
- VAT12% of basic premium (NIRC Sec. 108)
- ₱53.65
- Local government tax0.75% of basic premium
- ₱3.35
- Total for the year
- ₱560.00
Type the rate or premium on your quote to see your own total. The CTPL total here matches the Insurance Commission's ₱560.00.
New vs used car insurance rates
The IC tariff has no separate rate for used cars. A used car usually costs less to insure only because its value is lower.
Insurers price the car you own now, not the car it was when new. Put your own figures into the premium calculator.
The catch comes at claim time. The IC standard policy, used since 1 July 2023, has a depreciation schedule.
You pay a share of new parts once the car passes 3 years, rising from 20% to 40% with age. Roadside help also has age caps: BPI MS stops at 10 years and Standard at 15.
The roadside assistance guide has each insurer's terms.
- Rate
- Same IC range for new and used private cars
- Value insured
- Lower for a used car, so the premium is lower
- Parts depreciation
- None up to 3 years; 20% to 40% after; 45% on batteries and tyres
- Roadside age caps
- BPI MS 10 years; PhilFirst 10 years; Standard 15 years
Cars without OR/CR, with a past loan, or from a bank
Some forms take a car whose papers are not yet in hand. FPG Mercantile's quote form has an application type for units without OR/CR.
Cocogen's online quote needs OR/CR and licence copies, and Standard asks for the plate, chassis, engine and MV file numbers.
Check whether the car was ever under a chattel mortgage. If it is stolen later, Malayan's theft claim list includes the original release of chattel mortgage.
Get that release from the seller at the sale. The chattel mortgage guide explains the document, and used car financing covers buying on credit.