If you’re a car owner, driving is second nature, similar to walking or breathing. But this shouldn’t give you a false sense of security that things will always go your way on the road. Accidents happen at the most unexpected times, so make sure to get car insurance.
You might have stumbled upon SGI Philippines and want to know if it’s a good choice. We’ll help you figure that out in this guide, wherein we lay down the product’s features, pros, cons, and more. Check out this comprehensive SGI Philippines car insurance review to learn more.
What is SGI Philippines Car Insurance?
SGI Philippines car insurance is a personal car insurance product designed to financially protect you in case certain events, such as accidents and natural disasters, damage your car or affect its passengers.
It’s part of the company’s lineup of motor insurance products, which also includes motorcycle and commercial vehicle insurance.
Read more: Find the Right Car Insurance Company for You on This List
❓ Is SGI Philippines Car Insurance Legit?
Yes. SGI Philippines General Insurance, Inc. is a venture between Shriram Group, an Indian financial services conglomerate, and SANLAM Group, South Africa’s largest insurance company.
SGI Philippines is registered with the Insurance Commission, ensuring all its operations, products, and services are legitimate.[1]
SGI Philippines Car Insurance Review: Features and Coverage
Discover the coverage and benefits of an SGI Philippines car insurance policy:
✅ Maximum Total Sum Insured
Generally, SGI Philippines offers generous coverage. If you’re willing to pay a higher premium, you can have an insured total sum of up to ₱5 million.
✅ Compulsory Third Party Liability (CTPL) Coverage
This government-mandated insurance is covered by SGI Philippines. This covers death and bodily injuries sustained by a third party, keeping you from shelling out a large amount of money from your pocket.
✅ Third-Party Damage or Loss
In case your car causes damage to a third-party vehicle or property, this coverage will take effect. This also applies if the damage to the vehicle or property results in injuries or death.
✅ Acts of Nature
Natural disasters can damage your car. Recover financial losses with acts of nature coverage.
This is a must-have in a country ravaged by storms all year round. Plus, it covers other disasters like flash floods and earthquakes.
✅ Personal Accident Rider
This financially protects you or your passengers from accidental death and disablement. SGI Philippines pays for the interruption of your regular income.
✅ Road Assistance
SGI Philippines car insurance also comes with roadside assistance, which includes the following:
- Overnight accommodation - If the repair cannot be done right away, SGI Philippines will cover your hotel expenses for the night.
- Towing - Call SGI Philippines if you need to have your malfunctioning car towed.
- Vehicle removal crane - In case your car falls down a slope or gets overturned, SGI Philippines will dispatch a service to retrieve it.
Read more: List of Car Insurance Add-Ons: What Coverage Do You Need?
SGI Philippines Car Insurance Rates
The rate of SGI Philippines car insurance will depend on your vehicle. Just to give you a picture, here are the annual rates obtained from Moneymax’s database based on popular car makes and models:
SGI Philippines Car Insurance Review: Pros and Cons
Should you get an SGI Philippines car insurance policy? The following reasons may convince you:
👍 Years of Experience
Founded in 1959, SGI Philippines has 65 years in the industry. This staying power shows the company knows the ins and outs of the business. You can trust them to be adept and knowledgeable.
👍 Reliable Customer Support
SGI Philippines has a 24/7 inquiry form on its website.[2] You can also get in touch with agents stationed in more than 3,000 branches nationwide.
👍 Easy Application
Apply for an SGI Philippines car insurance policy via its website.[3] Simply fill out the form and wait for an agent to get back to you.
You can also get a quote via Moneymax.
👍 Relatively Affordable
As you’ve seen in the table of rates above, SGI Philippines’ car insurance premiums are relatively affordable. Case in point, you need to shell out only a little over ₱1,180 per month to insure your Honda City. If you have a Toyota Vios, you need to prepare almost ₱1,500 per month.
To come up with a balanced decision, consider the drawbacks of an SGI Philippines car insurance policy:
👎 Coverage Not That Extensive
Based on its website, the SGI Philippines car insurance policy only covers the essentials. It doesn’t seem to have loss and damage cover, which includes theft, burglary, and self-ignition.
👎 Roadside Assistance Not Comprehensive
Unlike other car insurance providers, SGI Philippines’ roadside assistance doesn’t seem to include alternative transport.
How to Get an SGI Philippines Car Insurance Policy
As mentioned, you can get a policy via its website. You can also easily get an SGI Philippines car insurance policy via Moneymax. Follow these steps:
- Go to SGI Philippines on Moneymax then click Get a Quote.
- Supply your car details and specs.
- Supply your name, email, and contact number. Click Next.
- You’ll then see the total premium for your car. If you’re okay with it, click Apply.
- You’ll receive a call from Moneymax within a few hours. The agent will then provide you with more details on your choice of insurance.
Related: How to Change Car Insurance Companies: A Step-by-Step Guide
How to File a Claim
For an easier claims process, go to Moneymax and let them work with your insurer. Follow these steps:
- Collate the following documents:
- Insurance claim form
- Police report[3]
- Pictures of the damaged vehicle
- Car repair estimate
- Photocopy of your driver’s license with the official receipt (OR)
- Photocopy of certificate of vehicle registration with MVRR number
- Other requirements requested by Moneymax’s claims expert
- After collating all the requirements, send them to Moneymax via claims@moneymax.ph.
- After SGI Philippines reviews your documents and approves your claim application, you will receive a Letter of Authorization. You can then take your car to your preferred casa.
Final Thoughts
SGI Philippines is one of the leading and most trusted insurers in the country. Get their car insurance policy to financially protect yourself from unexpected events. If you want to go beyond this SGI Philippines car insurance review, get in touch with the company via landline at +63-2-88480188 or email at info@sgiphils.com.ph.
If you're looking for other options, compare other car insurance companies below:
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