Here’s how to easily obtain car insurance quotes online

Gone are the days when one would talk to countless people, get in touch with agents from different companies, and then after months of hardship settle on an insurance policy which chances are he/she might regret later. Now, all thanks to the internet, getting car insurance in the Philippines has become so much easier and hassle-free.

However, if you need help navigating through the online lanes to find your best-fit car insurance provider and policy in the Philippines then here we are. Yes, at Carmudi we take extreme pleasure in making your car and the associated add-on buying experience seamless.

So, here is a guide that will help you know the process of obtaining a car insurance quote online in the Philippines, covering all the necessary information to help you make the best decision for your vehicle.

Also Read: Understanding car insurance cost in the Philippines in 2024

Why opt for getting car insurance online?

As mentioned earlier, the process of getting car insurance is a tedious affair including - multiple visits to insurance offices, endless paperwork, and long waiting periods. However, with the advancement of technology, most insurance providers in the Philippines have started offering online quote services.

This service has several advantages such as saving time, an opportunity to compare policies from different providers, and getting a chance to do it all in the comfort of your home, that too at any time of the day.

Essential prep before getting an insurance quote online

Before you start acquiring car insurance quotes online, it is essential to gather all necessary documents. Insurance providers often ask for specific information about the car and driving history, all to provide you with an accurate quote. Here is a checklist of essential information that you need in hand -

• Vehicle details: Note down vehicle’s year, make, model, and variant.
• Certificate of Registration (CR): CR contains information about the vehicle including its identification details.
• Driver’s license: While it may not always be requested immediately, it's important to have it in sight, for completing the forms.
• Previous insurance information: If applicable, you’d need details from your current or previous car insurance policies.

Note, by doing this little homework you’ll be able to speed up the process and ensure that the quotes you receive are accurate.

Also Reda: Car insurance made easy: Tips for new drivers in the Philippines

Insurance providers with online quotes

The Philippines car insurance arena has several providers that offer online quotations. Some of the well-known and respected ones include -

• Pioneer Insurance
• BPI/MS Insurance
• Malayan Insurance
• Standard Insurance

All these providers have a dedicated section on their website where an applicant can fill out a form to receive a quote. Some comparison websites even allow the user to compare quotes from multiple insurers side by side, thus simplifying the process even more.

Also Read: Top car insurance picks in the Philippines; know which one is right for you

Step-by-step guide to get a car insurance quote online

Here is a breakdown of the steps that an applicant needs to follow to get an quote online -

Step 1: Visit the insurer’s website

First and foremost, head to the official website of your chosen car insurance provider any insurers in the Philippines prominently feature their quote services on the homepage or under the “Car Insurance” section. Alternatively, go to any comparison site that aggregates quotes from multiple companies.

Step 2: Fill out the necessary information

Get ready to provide all the vehicle-related and other information that you have gathered. Yes, the website will ask you for basic details about your vehicle, such as its make, model, and year. Some websites will ask for more specific details, like the variant, engine size, or transmission type. All this is very important as companies calculate premiums on these factors along with the car’s value and the likelihood of claims.

Step 3: Submit your contact information

It is a must to provide your contact details to the insurance provider so that they can send the quote or follow up on your inquiry. This can include your name, email, and phone number. Don't worry; reputable insurance companies will protect your privacy and only use this information for quotation purposes.

Step 4: Review the quote

Once you’ve submitted your information, you’ll either be shown a quote immediately or receive one via email. This quote will typically include the premium, coverage details, and any optional add-ons you may want to consider. Make sure to read through the coverage and exclusions carefully to ensure that the policy suits your needs.

Step: Compare

One of the greatest benefits of getting a car insurance quote online is the ability to compare different policies. It is recommended not to rush into accepting the first quote you receive. Instead, review quotes from multiple providers to find the best deal. Keep in mind that the cheapest policy may not always be the best one. Consider factors like:

• Coverage limits: How much will the policy pay in case of an accident?
• Deductibles: How much will you need to pay out of pocket before the insurance kicks in?
• Add-ons: Does the policy offer extra benefits like roadside assistance and towing coverage?

Car insurance quote: Using comparison websites

Here, we’d also like to talk about comparison websites. Yes, it is one of the most convenient online tools to gather multiple car insurance quotes at once via such websites. Such platforms allow applicants to input their vehicle information a single time and receive quotes from various insurance companies.

Here are a few advantages of using comparison websites -

• It saves a lot of time, as the applicant needs to fill out just one form which will yield multiple quotes.
• These platforms streamline the quote process, thus making it easy to compare premiums, coverage, and terms side by side.
• Using a comparison website can save significant time, as an applicant won't need to visit each insurer’s website individually.
• Furthermore, some platforms offer exclusive deals or discounts when you purchase insurance through their service.
• These sites offer unbiased information, helping you choose the best option without insurer bias.

Basic insurance terminology

When reviewing insurance quotes online, an applicant will encounter various terms. Here are a few key ones to understand:

• Comprehensive Insurance: This covers damages to your vehicle as well as third-party liabilities.
• Third-Party Liability (TPL): Mandatory by law in the Philippines, this covers damage or injury to third parties in case of an accident.
• Acts of Nature Coverage: Also known as “Acts of God” insurance, this covers damages caused by natural disasters like floods and earthquakes.
• Personal Accident Insurance: Provides compensation for the policyholder and passengers in case of injury or death due to an accident.

What’s next?

Once you have compared quotes from different providers, it is time to finalise the best policy out of all. However, an applicant needs to do some necessary steps like submitting additional documents, paying for the policy, receiving confirmation & insurance documents, and renewing the policy when needed.

Submitting documents: Once you’ve decided on a policy, it is time to upload certain documents to complete the process. This may include a copy of the driver’s license, photos of the vehicle from various angles, and a copy of CR.

Note, that most insurance companies allow you to upload these documents directly through their websites. Ensure the photos are clear and taken in good lighting so that the insurer can properly assess the condition of your car.

Payment: After submitting the documents, it is time to pay for the chosen policy. Most insurance providers in the Philippines accept payments via: credit/debit card, bank transfers, and online payment gateways (like GCash, PayMaya, or PayPal).

Note, that once the payment is processed, the insurance provider will either mail or send a download link.

Confirmation & insurance documents: After you’ve completed all the necessary steps, the insurance provider will send you a copy of your policy documents.

Remember to save a copy of these documents for future reference and to keep them in your vehicle as proof of insurance.

Renew the policy: Car insurance policies are typically valid for one year. Keep track of your policy’s expiration date so you can renew it on time to avoid lapses in coverage. Some insurers offer discounts for renewing online or for maintaining a good driving record.

Bottom line

Getting a car insurance quote online in the Philippines is not only convenient but also empowers you to make well-informed decisions. By preparing the necessary documents, comparing quotes, understanding your coverage options, and reviewing your policy's fine print, you can secure the right insurance for your needs. Don’t forget to regularly review and renew your policy to maintain adequate protection for your vehicle and take advantage of any special offers or discounts available.

Also Read: Filing car insurance claims in the Philippines: Coverage to consider in case of an accident