Car insurance guide

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Compare car insurance - Car insurance or auto insurance as it is known in the Philippines is not a legal requirement but it will save you a lot of money in the event of a motor accident. Car insurance premiums are the amount of money policy holders (car owners) pay to insure their car or vehicle in case of an accident. If you purchase a policy from a car insurance provider and you get into an motor accident, the insurer will pay for most or all of the costs associated with the accident for your car and the third party’s car.

 

Money Monster helps Filipinos find and compare the best car insurance quotes

 

If your searching for the cheapest car insurance quote money monster can help you find it. We compare quotes and policies from all of the leading auto insurance providers in the country to get you the best coverage at the lowest rates.

 

What affects the price of car insurance?

 

Before you apply for car insurance there are a few things to know about what affects the final price of your premiums (monthly or yearly payments).

The younger you are, fair or unfair, the more you will have to pay to insure your vehicle against road accidents and theft. Statistically very young drivers are more likely to crash and therefore are higher risk, this risk is reflected in the significantly more expensive premium young people need to pay to insure their car.

Level of experience will be taken into consideration too, someone who has been driving for 20 years is less likely to get into a car accident than someone who just got their license. This is why it’s often recommended that younger first time drivers buy a cheaper, smaller engine sized car to reduce their insurance premiums.

The make and model of your car is also a huge factor in deciding how much your insurance policy will cost. High end cars, especially fast sports car are much more expensive to insure for several reasons, mainly because fast cars typically cost more to repair, replace parts and are more likely to get into an accident, hence more expensive premiums.

 

Best type of car insurance

 

When you’re comparing providers you will have several different types of car insurance plans to choose from so make sure you compare the policies and quotes carefully, the cheapest car insurance plan might not be the right one for you. The more coverage you get, the more you will pay in monthly premiums but you will be well covered in case of an accident. The cheaper your insurance quote usually the less coverage you will have, meaning you might pay less every month but if you get into an accident it could cost you a lot of money if your car insurance policy states they only pay for the first 20% of damages. The most expensive plans are fully comprehensive car insurance policies. The insurer for these plans will usually cover the cost of the repairs and replacements of your vehicle. They also protect you against theft and fire and third party liabilities and even acts of nature coverage in case your vehicle is damaged in a typhoon or flood. These insurance plans are more expensive but offer the most protection and conveniences such as free roadside assistance and back up cars if your car has to go into a garage for repairs.

 

Use money monster to find the best car insurance quotes that are right for you.

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