Many Filipinos dream of owning a car so they won’t have to endure the stresses of commutes, especially since commuters have a hard time riding public transportation. Many Parañaque residents look for jeeps, taxis, and TNVS services to get from one place to another, but a large number of residents can make it challenging to find a ride. Being able to ride a private vehicle allows residents to stop worrying about squeezing through other commuters and finding an available public vehicle.
The only problem that Parañaque residents will face is the traffic and its accompanying risks, especially with many irresponsible drivers out on the road. Some motorists even lack mandatory third-party liability insurance, keeping them from being able to cover any liability expenses when they cause an accident. Car insurance Parañaque ensures that car owners can protect themselves when caught in a vehicular accident, regardless of whether they caused it.
Many drivers tend to avoid getting either CTPL or comprehensive car insurance because they think it’s an unnecessary additional expense. Some insurance plans are naturally expensive, mainly because the vehicle itself is expensive.
Even before purchasing a car, people can estimate their insurance plan’s cost by checking on the vehicle’s retail price, the price of the spare parts, and the car’s reputation to other drivers. Insurers need to pay out the vehicle’s market value should it receive damages or be lost, resulting in higher insurance costs with more expensive cars.
What insurance car owners will get also affects how much they’ll pay to get insured. The mandatory CTPL insurance is significantly cheaper than a comprehensive car insurance plan due to the policy’s amount of inclusions. CTPL only covers third party liability while detailed plans can include liability, third party property damage, own damage, personal accident, and Acts of God coverage.
Insurance costs are also affected by which insurer a car owner will trust. There are many different insurers around, making it necessary to compare different insurance plans to get the most affordable one that meets their needs. Getting insured doesn’t necessarily mean spending significant amounts of money that can exhaust one’s finances.
Without an insurance plan, car owners will likely suffer financially when they go through an auto accident since they can’t cover the expenses. Should car owners go through another Ondoy, they can be sure that they’re protected if they have Acts of God coverage with their comprehensive insurance. For more information on estimating insurance costs, see this infographic by iChoose.ph.