Insure your car the Right Way
Simple as it sounds, it’s not surprising that still a lot of Filipinos don’t know how to insure their cars the right way. They think that just having their cars insured anywhere & in any way is enough. They don’t consider the market value of the car, the insurance companies, and the insurance premium.
The following are items that need to be looked into when insuring your cars.
1. Provision of actual & correct details. When insuring, you are asked to provide the Assured ( yourself or whom the car is registered under ) and the vehicle details. By giving all the correct details, you will save time and trouble in the process. If your car is financed, your finance company may not accept your insurance policy if any information is incorrect or not true. Some of the details asked are Name, Address, Car Make, Year and model, Car insurance expiry/effectivity, vehicle color, VIN/Chassis No. , Motor/Engine no., Name of the finance company if there’s any and Fair market value. So its value to get all the information through to the insurance company accurately. Another case worth pointing out is that there is a notion that the higher the market value of the car, the better it is for claims settlement. This is not exactly true. Under insuring and over insuring may have a direct impact on the claims settlement.
2. Choice of the Insurance company. There are currently more than 80 non-life Insurance companies in the Philippines. Among the recommendable ones are those belong to the top 20 insurance companies. These companies have a proven track record in terms of fast and quick responses on claims settlement. Most of them also have some built-in extra features like roadside assistance that customers will benefit from free. So, make sure you choose wisely & choose a true value for money car insurance.
3. Insurance Premium (price you pay). In this modern era & digital world, the majority of the Filipinos still haven’t harnessed the power of the net to search for the best car insurance deals. They just wait for the quote of the in-house car insurance from the car dealerships where the bought the car, the quote of their financing companies, their friend who is a car insurance agent, or an insurance company to whom they requested a quote. Little did they know of the existence of an online insurance comparison site which makes the whole quotation and insuring process so much easy and time-saving. A good car insurance comparison site can save not just time but money as well as it offers you more insurance options. They are normally free to use service and have the power to give you real-time quotes from several insurance companies in just 5 minutes. They are impartial and also offer online payment for your convenience. All you need to do is jump onto your computer/tablet/smartphone and browse for cheap online car insurance quotes.
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