Next to a house, a car is the most expensive purchase most people make. As such, they require special care. Unlike a house, a car doesn't stand still. Instead, it spends most of its time driving on public roads, where it is exposed to many different dangers. Which is why we have auto insurance. But why buy expensive comprehensive insurance, you may ask, when we already pay compulsory third party liability with our car registration? In fact, why do we need car insurance at all? Let's list the reasons.
Because CTPL – Compulsory Third Party Liability – doesn't cover you completely. CTPL, as mandated by the government, gives coverage of up to 100,000 pesos in case of accidents. This may sound like a lot, but “Third Party,” in this case, refers to people you may injure or kill in an accident. It doesn't cover yourself, your car, or any other car or property damaged in said incident.
Because car repairs can be costly. Repairing a single scratched or dented body panel on a new car can cost several thousand pesos. Mechanical damage can cost two or three times as much. If multiple panels are damaged in an accident, claiming against this via insurance is a good idea.
Because Philippine traffic is the definition of chaos. Buses cutting across several lanes to drop off passengers. Jeepneys stopping in the middle of the road. Tricycles zooming out of hidden side streets to cross major thoroughfares. Motorcycles filtering through stopped traffic at full speed. SUVs elbowing you out of your lane. Driving in the Philippines often requires eyes at the back of your head and lightning fast reflexes. If you have to drive on busy thoroughfares like EDSA on a daily basis, an accident is less a matter of “if” than “when”.
Because the road itself is dangerous. Giant potholes, wayward barriers, telephone poles sticking out of the asphalt. These obstacles can catch unfamiliar motorists. While we mostly think of insurance as covering accidents, you can actually file a claim for suspension damage caused by potholes or other obstacles on public roads.
Because s*** happens. Let's face it: the Philippines is a disaster-prone country. Fire, flood, earthquakes, typhoons, you name it. Your car is at the mercy of these natural calamities. Thankfully, many new insurance policies carry “Acts of God” coverage, which means that a terminally flood or fire damaged car can be covered.
Unfortunately, finding the right insurance company for your budget can be a daunting task. Paying your premiums and filing claims for damage can likewise be a difficult, tedious and sometimes drawn-out process.
But with Cebuana Lhuillier's ProtectNow.com insurance service, you can shop for cheap quotes and get instant coverage from several of the biggest and best insurance companies in the country. With ProtectNow.com's online service, you can get a quick and easy quote, and filing and payment are as easy as going down to the nearest Cebuana Lhuillier branch to submit your paperwork and payments. With the low rates and available zero percent installment plan, getting insured becomes as painless as possible.
And when you do need to file a claim, this can also be done through any Cebuana Lhuillier branch, after which ProtectNow.com will do the legwork for you, following up and monitoring the status of your claim from start to finish.
For more information about ProtectNow.com, click here.