‘It’s never too late to try something new!’ says a popular saying. ‘So, if you’re a little late to the car-driving party, just remember that it’s better to be late than never.’
People usually drive an automobile because they are enthusiastic about it. Those who are less enthused may simply regard it as a machine that does the job.
Regardless of whatever category you fit into, there are some vehicle insurance guidelines you should be aware of, especially if you are a late bloomer.
If you are new to driving, you should be aware that driving a car in the Philippines entails a significant amount of responsibility. You must also follow certain requirements in addition to driving safely. If you follow the advice below, your auto insurance experience should go well.
Purchase the required coverage
Before you go out for a drive, be sure you have at least the most basic sort of auto insurance. The most basic, plain vanilla automobile insurance plan available in the Philippines is a Third-Party Liability or a Motor car Insurance Policy.
It’s significant since it is helpful for Filipino drivers. This is what police officers look for when they stop you and ask you to show them your car’s insurance paperwork.
- A third-party automobile insurance policy protects you in the event that a third person is hurt (or killed) or their property is damaged as a result of an accident involving your vehicle.
- Unfortunately, standard car insurance does not cover vehicle losses. For instance, if someone destroys your car, a Third-Party Liability Policy will be useless to you. You’ll need a Comprehensive Car Insurance Policy for that.
Add-ons can be used to Personalize the Policy
If you want comprehensive coverage, add-ons are a wonderful match for your auto insurance policy, just like fries are for a burger. Add-on covers include things like Return to Invoice Cover, Engine Protection Cover, and Roadside Assistance, among others.
Because these add-ons aren’t free, make careful to only include the ones that are truly beneficial to you. The add-ons are only available when a Comprehensive Car Insurance coverage is purchased.
- If you’re still getting used to driving your automobile, for example, a Zero Depreciation add-on is a good idea. When compared to a car driven by an experienced driver, your car may be more susceptible to damage if you are not used to driving.
- If you don’t have the Zero Depreciation add-on, your insurance won’t cover depreciation (the loss of value in an automobile due to wear and tear) while settling a claim.
- You will receive a bigger claim amount as a result of it.
You have the option of selecting your own insurer
Just as you have the option to choose any car you want, you also have the flexibility to choose any insurer and any car insurance coverage you choose.
- You have the option of selecting your insurer whether you are purchasing auto insurance for the first time or renewing it for the tenth time.
- It is not necessary to get insurance from the auto dealership’s recommended insurer. It’s also not necessary to keep the same insurance year after year.
Keep your policy handy
As previously stated, you may be asked to provide your car insurance coverage to police officers if they request it.
- You can save your car insurance policy in the Digilocker, which was created by the government, and exhibit it upon request.
- You won’t need to bring the physical policy copy with you if you have a convenient digital copy.
Make well-informed decisions
It’s not difficult to grasp the concept of car insurance. Don’t get a policy if you don’t know what it covers, what it doesn’t cover, and what it doesn’t cover.
- To gain a clear understanding, you can look at the MGS Insurance Service website’s comprehensive list of vehicle insurance features.
- If you have any questions, you can contact us by phone or email.
When a policy’s expiration date approaches, always renew it
You must renew your automobile insurance to keep it active, just as you must refuel your car to keep it going. Your losses will only be covered by a car insurance policy if they occur during the policy period, which is the period between the purchase date and the policy’s expiration date.
- To ensure hassle-free and ongoing coverage, it’s essential to renew the insurance at least two weeks before the expiration date.
- Unless you are planning on driving the automobile during that time, it is a good idea to consider twice before deciding not to renew. Even if you’re not in the parking lot, your automobile can be damaged.
Keep your car secure and insured
I hope this post has given you the knowledge you need to make informed car insurance decisions. Remember that driving a car, no matter how skillful you grow behind the wheel, is a perilous job. It’s critical to observe traffic laws, such as ensuring and maintaining your vehicle’s insurance.