Comprehensive

Mercantile Insurance Comprehensive Car Insurance

Mercantile Insurance offers comprehensive auto insurance plans in the Philippines starting at ₱19,000/year. With over 166 accredited repair shops and 33 branch offices across Luzon, Visayas, and Mindanao, policyholders can expect claims processing within 14 business days. Plans cover own damage, theft, third-party liability, and Acts of Nature for vehicles valued up to ₱4 million.

Annual Premium

₱19,000–₱39,000/year

Coverage Items

Pros / Cons

5 / 4

Coverage Highlights

Fire and lightning damage protection

Loss of use allowance of ₱500/day for up to 6 days

Glass breakage and windshield repair coverage

No-claim discount of up to 24% on renewal

Riot, strike, and civil commotion coverage

Claims Process

Filing a claim with Mercantile Insurance involves 5 steps. First, report the incident within 24 hours by calling (02) 8293-7698 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

Advantages

Online policy management and renewal portal available
Flexible payment options including GCash and Maya
Dedicated relationship manager for policies above ₱164,000
Quick approval for minor claims under ₱167,000
Partners with 3+ hospitals for personal accident claims

Drawbacks

Deductible starts at ₱274,000 for first-time claims
No coverage for vehicles older than 13 years
Excess coverage requires separate add-on costing ₱163,000/year
Online portal lacks some features available in-app only

Frequently Asked Questions

How long does Mercantile Insurance take to process claims?

Mercantile Insurance processes standard claims within 19 business days from submission of complete documents. Major claims involving third parties may take up to 23 days. You can track your claim status through their online portal.

Does Mercantile Insurance cover Acts of Nature?

Yes, Mercantile Insurance includes Acts of Nature coverage in their standard plans, protecting against typhoons, floods, and earthquakes. The coverage limit is up to ₱461,000 per incident. This is especially important given the country averages 20 typhoons per year.

Can I pay Mercantile Insurance premiums in installments?

Mercantile Insurance offers installment payment plans of up to 12 months for annual premiums above ₱447,000. Monthly payments include a small processing fee of 24%. Credit card, bank transfer, GCash, and Maya are accepted.

What vehicles does Mercantile Insurance not cover?

Mercantile Insurance does not cover vehicles older than 7 years, those with salvage titles, or vehicles used for racing. Commercial vehicles above 7 tons require a separate commercial policy. Modified vehicles need prior approval and may carry a 18% surcharge.

Does Mercantile Insurance offer a no-claim discount?

Mercantile Insurance provides a no-claim discount of up to 15% when you renew without any claims in the previous year. This discount applies to the base premium and can accumulate for up to 18 consecutive claim-free years. The maximum cumulative discount reaches 36%.

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