Most Insured Cars in the Philippines

by Ronel Forbes

September 1, 2022

When you get auto insurance, the make, model, and year of manufacture of the vehicle are important considerations. Because of built-in safety measures or anti-theft equipment, certain cars are less expensive to insure than others.

Others just so happen to be “low-risk” automobiles, which are those that are less likely to be involved in collisions. Let’s look at the Most Insured Cars in the Philippines or most popular cars for insurance and why they are so popular.

List of Most Insured Car in the Philippines

MITSUBISHI MIRAGE 1.2 GLX M/T

Average Gross Premium for a Year: PHP 22,193

The Mirage, one of Mitsubishi’s entry-level sub-compact cars, has a 1.2-liter engine that achieves 14.45 kilometers per liter of fuel efficiency. It has a number of safety features, including seven airbags and an additional airbag to protect the driver’s knee.

A panic button and power locks are anti-theft measures.

Parking sensors, a navigation system with a rearview camera, and inside LED lighting are optional upgrades that can improve it even more.

HYUNDAI EON GL M/T

Average Gross Premium for a Year: PHP 15,806

The Eon, which is the only vehicle on this list so far, has the smallest capacity at 0.8 liters. Given its size, you may anticipate that the car would have poor fuel efficiency, but that doesn’t seem to be the case. With this little engine, you can get 26.3 km per liter of fuel.

In addition to airbags and rear seatbelts, it has a central locking system and an engine immobilizer as additional safety features.

FORD FIESTA M/T

Average Gross Premium for a Year: PHP 21,408

There are two models of the 2015 Ford Fiesta Manual Transmission: a hatchback and a sedan. Each vehicle has a 1.5 liter twin independent variable camshaft timing (Ti-VCT) engine, which has won numerous awards. Although the eco-boost hints that you may get more out of it, the fuel economy offers you a mileage of 10 km per liter.

With its keyless entry system, which requires the key fob to enter the vehicle, and airbags on both the driver’s and passenger’s sides of the vehicle, it is no slouch in the security and safety department.

CHEVROLET SPARK 1.0 M/T

Average annual gross premium: PHP 19,218

This hatchback is advertised as a city car and is reasonably priced at just over 500,000. Its 1.0 liter DOHC L4 engine provides 13.18 kilometers per liter of fuel. Its safety features are crammed in due to its size. Similar to its larger brothers, the Sonic and Cruze, it has 10 airbags, including front knee airbags, side seat airbags, and side curtain airbags.

These vehicles provide excellent safety features, good fuel efficiency, and affordable style. Due to their market value, all-around features, and level of risk, these cars typically have lower insurance costs.

MITSUBISHI LANCER CVT GLS A/T

Gross average premium paid annually: PHP 24,179

The second offering from Mitsubishi is a hatchback that is well-liked in the nation. The GLS has a 1.6-liter engine that is based on the 49A2 and achieves good fuel economy of 10.63 kilometers per liter.

Although it lacks the bells and whistles of the Mirage, its low base price makes it appealing to first-time buyers. It also has a continuously variable transmission, which lets you vary between automatic and manual handling.

The Importance of Car Insurance

Risk protection plans, like car insurance, are designed to shield us from unanticipated obligations and events. Anyone can become stranded on the road in their vehicle following an accident, an engine breakdown due to rain, or vehicle theft.

Auto insurance coverage will come in handy in all of the scenarios.

We frequently witness young drivers who accelerate their vehicles to dangerous speeds, causing unimaginable damage and fatalities. Such permanent wounds make us consider the necessity and value of auto insurance.

Consider going paragliding with a friend. Your friend wishes to have safety and security with the guide while you decide to travel alone. Because you were unaware of the diving regulations, your parachute collides with a tree on the mountain when the wind picks up and the air pressure suddenly changes.

Your companion, on the other hand, lands without any damage since they put safety first.

Please read: Car Insurance: Online VS Offline

Advantages of auto insurance

Given how many accidents there have been in India over the last few years, it is worthwhile to obtain auto insurance. In light of the situation, we can consider the advantages of auto insurance, which include:

The legal costs, if found responsible for the harm, as well as the lawsuits.
Repair costs for damage incurred in an accident.
Damages from terrorism, earthquakes, etc. that are not accidents.
Benefits for the deceased’s surviving family.

Selecting the Appropriate Car Insurance for You

Decide What You Need

When weighing the value of car insurance for you and your vehicle, sit down and make a list of your top priorities.

Ask around and compare auto insurance rates

Inquire about the auto insurance coverage of your family and acquaintances. Learn about their interactions with the insurance provider, particularly in regards to the handling of claims. The businesses that your loved ones have recommended can serve as your research’s jumping off point.

Examine the features and benefits of car insurance

Car insurance coverage vary in their features and advantages. Perform preliminary study and contrast the various market policies. Before selecting the finest auto insurance policy, make sure to acquire as much information as you can.

Final Reflections

It’s simple to see how having a car your daily life as a driver. In the Philippines, if you owned a vehicle, you might anticipate a high insurance premium as a result of the vehicle’s possibly high maintenance costs. And also, Car parts might be too expensive in the Philippines.

Even if you raise your deductible, have a clean driving record, and take other measures to reduce the cost of your auto insurance, you’ll still have to pay high rates to safeguard your costly investment.

However, paying substantial repair costs out of pocket after an accident and driving without insurance will cost you less money than insuring a car, regardless of how expensive it is.

Even if a car is expensive to insure by default, you can still save thousands of pesos a year on your rates.

In addition, the government of the Philippines mandates that you obtain Compulsory Third Party Liability (CTPL) for your vehicle when you register it, making having car insurance a necessity. Non-life insurance and general insurance offer products that can help with unanticipated events that happen on a significant day in your life.