The fastest way to get car insurance!
Just follow these simple steps:
Tell us about your car
We need some information about your vehicle to help us find the best car insurance for you.
Customize your car insurance policy
Select the coverage you want to include in your online car insurance quote. This will help us provide a personalized vehicle insurance quotation.
Get your e-policy within 24 hours
Found the right auto insurance deal? Click the apply button, enter your personal information, and we'll get in touch with you.
Hassle-free claims process
We hope you don't get into an accident but if you do, we'll help you process your car insurance claim.
"It was a great opportunity to get my car insurance with less premium cost but satisfying coverage. I compared many quotations from other providers but only Moneymax offered me a good deal. Even if this is my first time engaging with the team, I was overwhelmed with their quick and easy transaction process. "
"I’ve been a customer of Moneymax for almost two years for my comprehensive car insurance. They are easy to deal with and trustworthy. Excellent customer service. I saved almost P3,000 as compared with other brokers."
"Moneymax made searching for my car insurance a breeze! They got me the best possible deal in the shortest time possible. No need for long calls conversations with different agents, no wasting time. It's been my go-to ever since I learned about it."
- Own Damage/Theft - covers car damage, loss, and damage/loss of declared accessories and spare parts. In extreme cases like car robberies, fire, or explosions, your car insurance will handle all repair expenses.
- Property Damage or Voluntary Third Party Liability (VTPL) - covers damages caused by your vehicle to other people’s properties in the event of an accident. Regardless of who is at fault, your insurance will cover all property damages.
- Personal Accident or Auto PA - covers the insured individual and the unnamed passengers inside the vehicle in the event of injury, disablement, or death caused by a vehicular accident. Usually, it comes free with your insurance policy.
- Acts of God - covers damages caused by extreme natural disasters such as earthquake and flood, and even animal contact. Acts of God is a popular coverage in the Philippines due to unpredictable weather conditions.
Personal Injury Coverage - takes care of the passengers involved in a road accident. You’ll need it to take care of you and your passenger/s’ medical expenses.
|
Car Insurance Company |
Casa Eligibility |
Accredited Repair Shops |
Maximum Total Sum Insured |
Overnight Accommodation |
Towing Services |
Vehicle Removal Crane Services |
|---|---|---|---|---|---|---|
| MAPFRE Insular | 10 years | 365 | PHP 5,000,000 | Yes, up to PHP 3,000 | Yes, up to PHP 5,000 | Yes, up to PHP 10,000 |
| Malayan Insurance | 3 years | 58 | PHP 7,500,000 | Yes, up to PHP 1,000 | Yes, up to PHP 4,000 | Yes, up to PHP 8,000 |
| New India Assurance | 10 years | 30 | PHP 3,500,000 | Yes, up to PHP 1,500 | Yes, up to PHP 4,000 | Yes, up to PHP 10,000 |
| Prudential Guarantee | 10 years | N/A | PHP 3,000,000 | Yes, up to PHP 2,000 | Yes, up to PHP 5,500 | Yes, up to PHP 15,000 |
| SGI Philippines | 5 years | 36 | PHP 5,000,000 | Yes, up to PHP 2,000 | Yes, up to PHP 5,000 | PHP 10,000 |
| Stronghold Insurance | 10 years | 167 | PHP 3,000,000 | N/A | N/A | N/A |
| The Mercantile Insurance Corporation | 10 years | 77 | PHP 5,000,000 | Yes, up to PHP 2,000 | Yes, up to PHP 5,000 | Yes, up to PHP 10,000 |
- Your vehicle’s Original Receipt (OR) and Certificate of Registration (CR)
- Driver’s license
- Any valid ID, apart from the license
- For second-hand vehicles: Deed of sale
- Previous car insurance policy, if any
- Photos of your car
Save time searching and comparing quotes. Convenience is the biggest advantage of shopping for auto insurance online. The hours spent collecting and comparing quotes have been reduced to minutes. Through a car insurance comparison site like Moneymax, you can compare car insurance quotes from a variety of insurers in one go and find the best car insurance at the lowest cost.
Purchase vehicle insurance conveniently. When you get car insurance online, you won’t have to go out to visit the car insurance company’s office, get stuck in traffic on your way there, and wait in line. You can easily process your application without leaving your home or while you’re on the go.
Save on auto insurance costs. Along with the time-saving benefit of getting car insurance online, you’ll also save money traveling back and forth to the provider’s location. Instead of meeting an agent, you can just transact via email, chat, or phone for processing your application or making any inquiries.
Get your policy faster. Processing a motor insurance policy offline involves a lot of physical documents, which can be time-consuming on the part of the provider or broker. Doing it online makes the process quicker, so you can receive your policy in just one or two business days.
Access your policy anytime, anywhere. It’s easier to retrieve your car insurance policy if you got it online instead of the traditional means. You have a soft copy of it on your email and can even save a copy on your smartphone or tablet. When you have to review your policy, you can just access it from your email or phone anytime and anywhere you need it.
Renew your policy more easily. Car insurance policy renewal is just as convenient as your first-time purchase—as long as you do it online. Because all your personal, vehicle, and policy information is saved online, the car insurance company can easily access it when it’s time to renew your policy.
Save the environment. For environmentally-conscious car owners, buying car insurance online is a great way to save trees and reduce carbon footprint. Since the entire process doesn’t involve using lots of paper and printing, you’re contributing to the efforts to conserve the environment.
Different factors affect car insurance prices in the Philippines. Some of them you cannot control, but there are actions you can take to increase or decrease car insurance cost. Here are the different ways to save money on your auto insurance:
Increase your deductible. A deductible is a part of the participation fee that you pay out of the pocket when you make a car insurance claim. You can pay an amount higher than the standard deductible to reduce your monthly vehicle insurance premiums. But note that your out-of-pocket expenses will be higher when you get involved in a car accident.
Maintain a good driving record. The longer you drive without figuring in an accident or traffic violation, insurers will see you as a low risk and may quote you with a lower premium. Some car insurance providers even offer discounts to policyholders who had no claims for an entire year. Improve your driving habits, follow traffic rules, and if necessary, take a defensive driving course from a driving school.
Improve your credit score. Studies prove that people who are responsible with their finances tend to be responsible and are therefore less likely to make a claim. Thus, a number of car insurance providers consider credit scores when setting premiums. To lower your car insurance rate, pay your bills and debts on time, check your credit score, and have it corrected (if needed).
Choose a vehicle that costs less to insure. This tip is crucial for first-timers who will purchase a new car along with their motor insurance policy. Different factors such as a vehicle’s fair market value, safety, and make, model, and year affect a car insurance price. Here’s what to look for in a vehicle if you’re trying to save money on car insurance cost:
- Less expensive models—like those from Toyota, Honda, and Nissan—with lower repair costs than premium models and replacement parts that are readily available in the Philippines
- Economical vehicle types such as hatchbacks and sedans
- Safety and security features such as airbags, anti-lock braking system, car alarm, and anti-theft devices
Compare car insurance quotes. Car insurance comparison is a critical step in reducing your premium. It lets you know how much it will cost you to insure your vehicle from different insurance providers and allows you to find affordable car insurance rates. Ideally, get car insurance quotes from as many companies as possible.
Get cheap car insurance from an online broker. Did you know that you can save as much as 50% when you compare car insurance rates and apply through an independent online broker? Aside from helping you secure the lowest car insurance possible, an online broker facilitates a hassle-free claims processing. Moneymax, for example, has a dedicated claims team that can assist you when filing a claim and a team of advisors that can answer any questions you may have about car insurance.
Ask your agent about discounts. Ask your agent if you qualify for any discount. Some car insurance companies offer discounts to policyholders who have not filed a claim for a certain period. You may also enjoy cheap car insurance prices if your car has plenty of safety features. If you avail of multiple insurance policies from one provider, it’s good to ask if you can get a discount on your premiums.
Opt out of unnecessary add-ons. Review your car insurance policy to determine which riders or add-ons you don’t need. Unnecessary riders only add to your car insurance cost without much use. When you renew your policy, talk to your agent about removing any add-on you don’t actually need.
- Bank deposit
- Bills payment and remittance centers
- ATMs
- Credit card
- Check payment
- Online banking channels
- Mobile payment apps like GCash, PayPal, and PayMaya
Last updated: February 14, 2022
Did you recently buy a car? You need car insurance! The thrill of having a new car is over and now you have to go through the process of insuring your four-wheeled investment. Getting a car insurance in the Philippines can be confusing, especially for first-time vehicle owners. However, that shouldn’t be an excuse to not get one. Here’s a helpful beginner’s guide to car insurance to get you started.
Looking for cheap comprehensive insurance? It can be challenging, but it’s not an impossible task. By comparing online car insurance quotes, it is possible to get a policy that suits your vehicle and your lifestyle with a price that won’t break the bank. Don’t worry, you’re not going through this blindly. Here are some tips on how to get a cheaper car insurance deal.
Saving on your comprehensive car insurance cost begins with comparing quotes and finding the best deal from different insurance providers in the Philippines. Since car insurance rates vary from one insurance company to another, it is best to get as many car insurance quotes as possible. Don’t be afraid to shop around and compare your options meticulously. This will help you determine which provider is the easiest to deal with, which one can give you better coverage, or which one can give you the most bang for your buck.
When you compare auto insurance quotes, do not just look at the rates. An insurance policy with the lowest premium is not necessarily the best option. You also have to check the coverage, exclusions, benefits, and the reputation of each insurance provider.
Calling up each provider to ask for car insurance quotes is good, but it can eat up much of your time. Make the process easier by taking advantage of the free comparison tool here at Moneymax to help you compare car insurance quotes in just a few minutes.
One of the advantages of comprehensive car insurance is that you can customize your coverage. Go over your policy and check the coverage that you have. You may not need the add-on benefits so remove them to lower your insurance costs.
For example, if you’re already a member of an auto club in the Philippines where you enjoy privileges such as roadside assistance, it makes sense to eliminate this coverage from your car insurance. If you already have a family lawyer, you might as well remove the legal assistance coverage to save more money. But of course, don’t remove an essential coverage just to save a few thousands. If you really need any of the add-on benefits, keep it in your policy.
You can further cut down on your vehicle insurance costs if you pay your premiums in full or in lump sums every year compared to paying monthly installments. Insurance companies are inclined to give you discounts when you pay full annual premiums because it saves them a lot of time in processing your payments.
Paying in full also endears you to your insurer and they will eventually treat you as a priority policyholder. Processing your comprehensive car insurance claim will be a breeze once you’ve built a rapport with your insurer.
A Car Insurance Coverage Gap happens when you fail to keep your car insured for a certain period because of various reasons, such as your policy getting cancelled or you making late payments. A gap is also likely to happen when you took a long time switching to a new car insurance company after you ended your policy to your former insurer. It’s always important to be consistent in insuring your vehicle.
Having these gaps and lapses in your history will greatly increase your premium the next time you apply for a policy. Make sure to pay your premium on time to prevent these gaps and save money on your insurance.
Also, when you get a new auto insurance from a different provider, do not terminate your existing one until your new policy becomes active.
Owning a car increases the likelihood of you being involved in a road accident. That’s where your car insurance comes in. It ensures you that you will receive assistance and compensation for the loss or damage of your car in an accident. While we hope you don’t have to use it, you should know how to file a car insurance claim in the Philippines.