With the poor implementation of traffic regulations and ill-informed motorists, driving on the roads can be stressful. Accordingly, the inherent dangers on the Philippine roads generally make driving dangerous for vehicle owners and drivers.
There are various ways to protect yourself while driving on the road, including employing safety precautions and practicing defensive driving. In addition, you can further protect yourself and your vehicle by acquiring a car insurance policy.
Having your vehicle insured is one of the best decisions you could ever make for that significant investment. Purchasing the best car insurance Philippines policy allows you to be financially secure against unforeseen circumstances.
When you have decided to purchase auto insurance, remember that there are various factors that you need to consider, including which type of car insurance policy to get. In the Philippines, there are two types of car insurance: (1) Compulsory third-party liability (CTPL) insurance and (2) comprehensive insurance.
CTPL insurance covers bodily injury, death indemnity, permanent disablement, and medical expenses of third parties involved in an accident. On the other hand, comprehensive car insurance Ph offers more coverage.
Aside from insurance coverage included in CTPL insurance, a comprehensive car insurance policy can provide you protection against risks such as loss, theft, personal accidents, property damage, accidental collision, other malicious acts, and damages incurred due to a natural disaster (Acts of God).
Car insurance is paramount for road safety. It also helps you avoid certain circumstances resulting from getting involved in a collision incident. Consequently, if you drive your uninsured vehicle and become involved in an accident, you will have to pay for the repair of your car as well as the third party’s medical expenses and repair cost of their property.
Failure to settle financial liabilities will result in hefty fines or legal charges. The most common charge filed against a person who failed to pay for the damages caused by the collision is reckless imprudence resulting in damage to property. Facing legal charges is already scary enough, and dealing with legal matters can also be stressful.
For more information about the risks associated with driving an uninsured vehicle, see this infographic by iChoose.ph.
