Getting Prepared For The Philippines > Life and Other Insurances

Car Insurance

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Thomas55555:
Just curious about my policy for a car that we just purchased. We have seaboard insurance company that came with the many freebies from the dealer.
I called them up the other day curious about if I was covered because the car is in my wife\'s name. I asked if I was covered because I am the primary driver. My wife has a special permit, however not a license. They told me if they understood me that up to five passengers are covered and it didn\'t matter who drove the car. Seems different from the the states. Is that right or is this just the Philippines.

oneiloilokano:
It does not matter who is driving as long as they have a valid licence. Remember a stateside licence is only good for 90 days here. After that you need a Philippine licence. With the way they drive here it\'s not a matter of \"if\" but when you get into an accident. Do not give them an excuse not to pay.

I\'d also check the liability limits. They only require you to have P 150,000 damge liability and the standard deductable is P100,000 ! Besides the fact that the medical is only P50,000 total. Not per person. Not very much when you consider the actual costs.

Just like anywhere else, you get what you pay for or in your case got as a \"freebie\".

oneiloilokano:

--- Quote from: oneiloilokano on February 22, 2012, 08:38:16 AM ---It does not matter who is driving as long as they have a valid licence. Remember a stateside licence is only good for 90 days here. After that you need a Philippine licence. With the way they drive here it\'s not a matter of \"if\" but when you get into an accident. Do not give them an excuse not to pay.

I\'d also check the liability limits. They only require you to have P 150,000 damge liability and the standard deductable is P100,000 ! Besides the fact that the medical is only P50,000 total. Not per person. Not very much when you consider the actual costs.

Just like anywhere else, you get what you pay for or in your case got as a \"freebie\".

--- End quote ---

I alomost forgot to mention the special clause insurance companies have. It\'s call the \"acts of god \" clause. Meaning if a typhoon hits, your insurance will not cover anything. Same with homeowners on fire, flooding or earthquake. Lots of people here in Iloilo found this out the hard way after Typhoon Frank hit us a few years ago. Also had a Honda Dealship owner shot dead in front of the dealership because of that. Be smart and find out exactly how much liability etc that \"freebie\" insurance policy gets you. Bet it\'s the bare bones minimum :).

suzukig1:

--- Quote from: oneiloilokano on February 22, 2012, 08:50:31 AM ---
I alomost forgot to mention the special clause insurance companies have. It\'s call the \"acts of god \" clause. Meaning if a typhoon hits, your insurance will not cover anything. Same with homeowners on fire, flooding or earthquake. Lots of people here in Iloilo found this out the hard way after Typhoon Frank hit us a few years ago. Also had a Honda Dealship owner shot dead in front of the dealership because of that. Be smart and find out exactly how much liability etc that \"freebie\" insurance policy gets you. Bet it\'s the bare bones minimum :).

--- End quote ---

To the OP:

You can buy separate coverage for \"acts of god\" for your car.  We have it because we live in typhoon alley up in Northern Luzon and no garage for the car.

You might not be (probably are not) covered for theft.  We buy this so that my wife will not hesitate to give up the car in case of a car jacking.

swandivr:
Timely post,as I am considering buying a car myself,as many of you might know.

just curious as to what premiums cost here.If a guy wanted full coverage with theft, comprehensive and \"acts of god\",what would he expect to pay?Understanding of course,that rates will fluctuate depending on policy limits etc....generally speaking ballpark figures maybe???

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