Comprehensive

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.

Annual Premium

₱13,000–₱48,000/year

Coverage Items

Pros / Cons

5 / 4

Coverage Highlights

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

Advantages

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

Drawbacks

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

Frequently Asked Questions

How long does Paramount Life & General take to process claims?

Paramount Life & General processes standard claims within 9 business days from submission of complete documents. Major claims involving third parties may take up to 35 days. You can track your claim status through their online portal.

Does Paramount Life & General offer a no-claim discount?

Paramount Life & General provides a no-claim discount of up to 10% when you renew without any claims in the previous year. This discount applies to the base premium and can accumulate for up to 12 consecutive claim-free years. The maximum cumulative discount reaches 44%.

What vehicles does Paramount Life & General not cover?

Paramount Life & General does not cover vehicles older than 17 years, those with salvage titles, or vehicles used for racing. Commercial vehicles above 5 tons require a separate commercial policy. Modified vehicles need prior approval and may carry a 15% surcharge.

What is the minimum premium for Paramount Life & General?

The minimum annual premium for Paramount Life & General starts at ₱215,000 for basic plans. This rate applies to vehicles valued under ₱496,000. Additional coverage options may increase the total premium.

Can I pay Paramount Life & General premiums in installments?

Paramount Life & General offers installment payment plans of up to 19 months for annual premiums above ₱257,000. Monthly payments include a small processing fee of 13%. Credit card, bank transfer, GCash, and Maya are accepted.

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