Get Car Insurance Discounts for Your Vehicle

Getting car insurance is a necessity for those who own a car. Apart from it being mandated by law, it also helps drivers protect their property and the lives of their passengers. It is also one of a car owner’s biggest expenses – apart from the car itself.

In other countries, factors like age and driving record can affect the price of your car insurance. There are many ways that you can get car insurance discounts while being able to get the best possible coverage for your needs.

So how do you go about getting a discount on your insurance? Here’s a few things that you should know.

Haggle for a Lower Price With Your Provider

Getting a discount on your insurance is a bit like haggling: in that you won’t get a discount if you aren’t proactive when it comes to asking for one.

Most car insurance providers aren’t quick to pull the trigger on discounts unless someone asks for one. You can also check for special deals for renewals with a company or other promos that you might be eligible for. The first step is always to ask.

Read more:

• CTPL Insurance in the Philippines: A Quick Guide for Filipino Motorists
• What is Roadside Assistance and Why Should I Get It?

Check How Much Your Premium Should Be

The older your car is, the lower your premium will be. For first-time car owners who decided to shell out on a slightly older model, your insurance premiums will be much lower than if you bought a brand-new car.

The only real disadvantage you might encounter is that you will be shouldering the parts from a second-hand vehicle yourself, as the warranty on it will have lapsed. New vehicles still have the advantage of having warranty for parts and services for a year at the very least.

Consider Altering Your Coverage

If you want to pay less on your insurance, you can aldter your coverage. This does reduce the price you’d have to pay on your insurance, but carries a risk of its own. While you can pay less on your coverage, you run the risk of underinsuring yourself and your vehicle.

It is ideal to only alter coverage in cases where you are certain that you are able to cover any necessary extra expenses that may come with the operation of your vehicle.

Read more:

• The Importance of Having Acts of God Insurance Coverage
• How to File a Car Insurance Claim: Complete Guide for Policyholders

Compare Car Insurance Providers

Not all insurance providers are equal. They can be identical, but they are by no means equal. Different providers will give you varying coverage rates, repair options, and other perks. It will be best to shop around and compare car insurance providers - which can be done online through comparison platforms.

Car Insurance Company	Features
OONA Insurance (formerly MAPFRE)	10 years of casa eligibility 366 accredited repair shops PHP 5,000,000 maximum total sum insured Overnight accommodation - Yes, up to PHP 3,000 Towing - Yes, up to PHP 5,000 Vehicle removal crane services - Yes, up to PHP 10,000
Malayan Insurance	3 years of casa eligibility 58 casa repair shops PHP 7,500,000 maximum total sum insured Overnight accommodation - Yes, up to PHP 1,000 Towing - Yes, up to PHP 4,000 Vehicle removal crane services - Yes, up to PHP 8,000
Prudential Guarantee	10 years of casa eligibility PHP 3,000,000 maximum total sum insured Overnight accommodation - Yes, up to PHP 2,000 Towing - Yes, up to PHP 5,500 Vehicle removal crane services - Yes, up to PHP 15,000
SGI Philippines	5 years of casa eligibility 36 accredited repair shops PHP 5,000,000 maximum total sum insured Overnight accommodation - Yes, up to PHP 2,000 Towing amount - Yes, up to PHP 5,000 Vehicle removal crane services - PHP 10,000
Stronghold Insurance	10 years of casa eligibility 167 accredited repair shops PHP 3,000,000 maximum total sum insured
The Mercantile Insurance Corporation	10 years of casa eligibility 77 accredited repair shops PHP 5,000,000 maximum total sum insured Overnight accommodation - Yes, up to PHP 2,000 Towing - Yes, up to PHP 5,000 Vehicle removal crane services - Yes, up to PHP 10,000

Final Thoughts

Make sure to provide your insurance company the most accurate information such as who really drives your car, and the like. This can affect the rates you get and any possible discounts or promos that you are eligible for. Shop around to see which one offers the best deal for the car you want to insure and with the features that you are looking for.