Having your vehicles insured should be one of your top priority as a car owner. Since nobody knows when will accidents and unfortunate events happen, it is important that you come prepared. While some may say that car insurances are expensive and unnecessary spending, it is actually one way of reducing car expenses in the long run. Because of its intimidating terms and an overwhelming amount of details and information,…
Prevention is better than cure. But with the “bahala na” attitude prevalent in our culture, Filipinos don’t usually plan ahead. It is evident by the fact that only 30% of Filipino households have savings. It is also true that car insurance companies only have a limited 3% to 5% penetration rate among car owners. Given these numbers, a lot of car owners are willing to take the risk on the…
When claiming on your car insurance policy, you need to prepare your claims documents. It is very important to complete the checklist before you submit it to your agent/broker or the insurance company. Incomplete documents can result in delays. For the record of the claims department of all car insurance companies in the Philippines, day 1 starts upon the submission of the complete claims documents. Listed below are the most…
To help people understand some Insurance jargon. iChoose.ph team summarized the commonly used terms in the car insurance industry in the Philippines and here they are. Car Insurance Policy – Is the contract between the client and the insurance company. This contract states that the insurance company agrees to indemnify or pay the client against all perils stipulated in the policy in exchange for a premium paid by the…