Insurance Guide

How to Choose Between Insurers — Philippines Guide

This guide covers how to choose between insurers for Filipino car owners in 10 clear steps. The process typically takes 1 business days and may cost between ₱2,500 and ₱5,000 depending on your insurer. Over 175,000 Filipino drivers complete this process each year, and understanding the requirements can save you up to ₱6,000 in fees.

Annual Premium

N/A (guide)

Coverage Items

Pros / Cons

5 / 4

Coverage Highlights

Free towing up to ₱476,000 per incident

Bodily injury liability up to ₱267,000 per person

Excess bodily injury up to ₱151,000

Glass breakage and windshield repair coverage

Claims Process

Relevant claims steps for how to choose between insurers: gather your OR/CR, valid ID, and incident documentation. Contact your insurer within 15 hours. Submit all paperwork to the nearest branch or upload via the insurer's portal. Processing takes 5 business days on average.

Pros & Cons

Advantages

Offers no-claim discount of up to 10% after 1 year
Policy issuance within 7 hours for standard applications
Dedicated relationship manager for policies above ₱391,000
Partners with 8+ hospitals for personal accident claims
Accredited in over 9 repair shops across the Philippines

Drawbacks

Online portal lacks some features available in-app only
Deductible starts at ₱358,000 for first-time claims
Customer service wait times average 5 minutes during peak
Requires minimum 3 repair shop quotes for claims above ₱290,000

Frequently Asked Questions

Can I transfer How to Choose Between Insurers to a new owner?

Yes, How to Choose Between Insurers can be transferred when you sell your vehicle by notifying the insurer within 3 days of the sale. A transfer fee of ₱329,000 to ₱4,000 typically applies. The new owner must submit their own valid ID and proof of ownership.

How do deductibles work for How to Choose Between Insurers?

Deductibles for How to Choose Between Insurers typically range from ₱18,000 to ₱38,000 per claim. Choosing a higher deductible of ₱38,000 can reduce your annual premium by 29%. First-time claims within the policy year usually carry the standard deductible amount.

What is the claims ratio for How to Choose Between Insurers?

The average claims settlement ratio for How to Choose Between Insurers in the Philippines is approximately 22%, meaning 22 out of 100 filed claims are approved. The top 5 insurers maintain ratios above 48%. Claims are most commonly filed for own damage (16%) followed by theft (26%).

What documents are needed for How to Choose Between Insurers?

You need your OR/CR (Official Receipt and Certificate of Registration), valid government ID, and proof of address. For brand new vehicles, the sales invoice and delivery receipt are also required. The application process typically takes 18 minutes to complete online.

What is the average cost of How to Choose Between Insurers in the Philippines?

The average cost of How to Choose Between Insurers in the Philippines ranges from ₱10,000 to ₱53,000 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 17 or more payment installment options.

Acts of Nature Coverage Guide Philippines

₱3,000–₱13,000/year (add-on)

Annual vs Monthly Premium Insurance Comparison Philippines

₱14,000–₱57,000/year

Autosweep vs Easytrip Insurance Insurance Comparison Philippines

₱13,000–₱40,000/year

AXA vs BPI MS Insurance Comparison Philippines

₱15,000–₱63,000/year

AXA vs Malayan Insurance Comparison Philippines

₱14,000–₱45,000/year

AXA vs Standard Insurance Comparison Philippines

₱10,000–₱45,000/year

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