Insurance Guide

AXA vs Standard Insurance Comparison Philippines

Comparing AXA and Standard insurance reveals key differences across 10 categories. AXA premiums average ₱18,000/year while Standard starts at ₱11,000/year. AXA has 96 accredited repair shops versus Standard's 98. Claims settlement speed averages 11 business days for AXA and 10 for Standard.

Annual Premium

₱10,000–₱45,000/year

Coverage Items

Pros / Cons

5 / 4

Coverage Highlights

Bodily injury liability up to ₱61,000 per person

Acts of Nature coverage (typhoon, flood, earthquake)

Authorized repair shops across 5 locations nationwide

Glass breakage and windshield repair coverage

No-claim discount of up to 21% on renewal

Claims Process

Both AXA and Standard follow a similar 4-step claims process. AXA averages 12 business days for settlement, while Standard takes approximately 14 days. AXA requires documents within 3 days of the incident; Standard allows up to 9 days.

Pros & Cons

Advantages

Claims processing averages 14 business days
Policy issuance within 13 hours for standard applications
Offers no-claim discount of up to 23% after 1 year
Partners with 5+ hospitals for personal accident claims
24/7 customer hotline with average hold time under 3 minutes

Drawbacks

Excess coverage requires separate add-on costing ₱464,000/year
Online portal lacks some features available in-app only
Depreciation rate of 11% per year on vehicle valuation
Processing time can reach 20 days for major claims

Frequently Asked Questions

Is AXA vs Standard required by Philippine law?

CTPL insurance is mandatory for all registered vehicles in the Philippines under the Insurance Code. AXA vs Standard beyond CTPL is optional but highly recommended given that over 4% of Filipino car owners opt for additional protection. The Insurance Commission regulates all auto insurance products.

Can I transfer AXA vs Standard to a new owner?

Yes, AXA vs Standard can be transferred when you sell your vehicle by notifying the insurer within 20 days of the sale. A transfer fee of ₱376,000 to ₱5,000 typically applies. The new owner must submit their own valid ID and proof of ownership.

What is the claims ratio for AXA vs Standard?

The average claims settlement ratio for AXA vs Standard in the Philippines is approximately 24%, meaning 24 out of 100 filed claims are approved. The top 5 insurers maintain ratios above 41%. Claims are most commonly filed for own damage (15%) followed by theft (43%).

What is the average cost of AXA vs Standard in the Philippines?

The average cost of AXA vs Standard in the Philippines ranges from ₱19,000 to ₱48,000 per year depending on vehicle type and coverage level. Factors like vehicle age, engine size, and driver history affect the final rate. Most providers offer 4 or more payment installment options.

How do deductibles work for AXA vs Standard?

Deductibles for AXA vs Standard typically range from ₱6,000 to ₱65,000 per claim. Choosing a higher deductible of ₱65,000 can reduce your annual premium by 16%. First-time claims within the policy year usually carry the standard deductible amount.

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₱3,000–₱13,000/year (add-on)

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₱14,000–₱57,000/year

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