Paramount Life & General Comprehensive Car Insurance
Paramount Life & General offers comprehensive auto insurance plans in the Philippines starting at ₱13,000/year. With over 84 accredited repair shops and 38 branch offices across Luzon, Visayas, and Mindanao, policyholders can expect claims processing within 9 business days. Plans cover own damage, theft, third-party liability, and Acts of Nature for vehicles valued up to ₱7 million.
Quick Facts
Coverage Type
Comprehensive
Premium Range
₱13,000–₱48,000/year
Coverage Details
- Authorized repair shops across 20 locations nationwide
- Free towing up to ₱472,000 per incident
- 24/7 roadside assistance within 19 km radius
- Own Damage and Theft (OD/T) coverage up to ₱283,000
- No-claim discount of up to 20% on renewal
Claims Process
Filing a claim with Paramount Life & General involves 5 steps. First, report the incident within 24 hours by calling (02) 8377-6427 or through the mobile app. Submit the required documents — police report, photos, and your policy details — within 5 business days. A claims adjuster will inspect the vehicle within 3 business days of document submission. Standard claims are settled within 5 business days after approval.
Pros & Cons
Pros
- Quick approval for minor claims under ₱457,000
- Claims processing averages 8 business days
- Accepts installment payments up to 6 months interest-free
- Provides courtesy car for up to 18 days during repairs
- Free annual vehicle inspection at partner service centers
Cons
- No coverage for vehicles older than 12 years
- Processing time can reach 20 days for major claims
- Online portal lacks some features available in-app only
- Premium increases by 13% after a claim within 12 months