Supply and demand apply virtually to any commodity out there. It also applies to car insurance products. Given the 3% penetration rate of car insurance companies, it is safe to assume that the Filipino car owner isn’t really interested in car insurance products. If you are someone looking for a car insurance policy, this type of scenario plays in your favor. Talking to a car insurance broker, it is possible…
It is your first time to purchase a car. Perhaps, for your first ride, you are willing to shell out P100,000 on a used vehicle. Good for you, that is a good start. Probably, you’ll be able to get a vehicle made somewhere around the mid-1990s. And if you check olx.ph, there are a LOT of cars that could potentially meet your budget and needs. The Philippines isn’t exactly a…
Is your wallet safe in case a mishap occurred on the road? Knowing the probability of being on the receiving end of scratches to major accidents, can your car insurance policy suffice the cost of the repairs? During the worst-case scenarios, it counts if you’ve done your homework transacting only with reputable car insurance companies. What makes a car insurance company trustworthy? Here are some tips that could help…
Using Waze, a mobile navigation app developed to determine the road’s traffic situation; it is common to see Metro Manila’s roads filled with red lines indicating jam-packed traffic conditions. According to a recent study, the average commuting time from Quezon City to Ortigas can reach up to 2 hours simply because of the hellish EDSA traffic. To think that this only covers less than 12 kilometers, it shows the problem…
Buying a brand new car can be tricky, not to mention expensive. It costs a lot of money, plus you have to deal with depreciation of the car’s value. Could you imagine buying an P800,000 sedan, only to have a market value of around $650,000 the next year? Yes, it does depreciate like crazy, so why should you settle for a brand new car? Here’s why most people in the…
Registered cars in the Philippines are in an all-time high in July of 2013. 137,726 registered cars were recorded during that month. Despite this number, only a small number of cars will be insured. There are many factors involved as to why this is happening. The car insurance industry is struggling to keep up with its saturated market. For instance, just how many car insurance companies are listed today? Also,…
Getting a car can be exciting. It is considered a phase in a person’s life when he or she could already afford a car. Though it is an exciting time, you have to consider the type of car insurance that you are going to have. Purchasing car insurance in the Philippines can be tricky. You have to evaluate a number of things, and sometimes, there are car insurance nightmares that…
Consumers will always be attracted to the most affordable options. Given the rising cost of living, people do their best to make the most of their budget. When you are dealing with the annual inflation rate in the Philippines, car owners are looking for ways on how they could save some cash. Some are now considering the cheapest car insurance premium just to have peace of mind. Since car insurance…
Cars are bought for different purposes. For work, doing errands and other activities, individuals love to make the most of their vehicle. Regardless if it is a second hand sedan, or a brand new pick up truck, we all want to get the best bang for our buck. The average car in the Philippines registers around 10,000 kilometers a year. Given the traffic, not to mention the number of motorists…
If you are involved in the car insurance business, you might find it challenging to sell your product to a car owner. In fact, if you’ll look at the numbers, there’s a less than 5% penetration rate among car owners in the country. Despite the clogged streets, the hundreds of vehicular accidents in the country on a day to day basis, a lot of people still don’t purchase their comprehensive…