![]() All you need to do is simply fill out the form below. You do not have to go anywhere.īook2wheel can connect you with several insurance companies in your area. However, because of digitalization, you can now buy insurance online in the comfort of your home. The traditional way is to visit a physical store and speak with an insurance agent. Where to buy comprehensive motorbike insurance in Cebu, Manila, Davao, or other cities in the Philippines. If the motorbike’s CMV is higher, then relatively, your premium is also higher. If you have a scooter with a CMV of 60,000 pesos, the premium will cost you between 2500 pesos to 3000 pesos for a year. The motorbike insurance cost is calculated based on the current market value (CMV) of the motorbike. How much does comprehensive motorbike insurance cost in the Philippines? Since lightning is not man-made and is an act of nature, your motorbike is protected by comprehensive insurance. Acts of God (AOG)Īn example of AOG is when your motorbike gets hit by lightning and burned. The example above shows a 5 percent deduction if there is a claim, which means you will get 5 percent less from the amount you have applied to claim. Own damage is when your motorbike parts are broken during an accident, while theft is when your motorbike is lost or stolen.Įach insurance company has some percentage of deduction when they pay you. Below you can see the breakdown of the cost and the coverage when you buy motorbike insurance: What is own damage/theft? Always keep in mind to request a copy of the police report as it is one of the requirements you need to present when you file an insurance claim. Note that when you have an accident, you must not move the motorbike from the spot where it fell until the police have arrived. If you only have CTPL/TPL, you and your motorbike won’t be covered, but with comprehensive insurance, the damages on the motorbike and the injuries you incurred would be covered. In this case, the motorbike was damaged and you also incurred injuries to yourself. For example, you went out riding your motorbike and fell from the motorbike because the road was slippery. You also have an option to include third-party injuries in your insurance coverage. With comprehensive insurance, you have yourself and your motorbike protected against your own damage, theft, and acts of nature. In simple words, you are fully protected. With the police report, the insurance provider decides who pays who. However, there should be a police report which indicates the details of the incident. For example, if you are driving a motorbike in the Philippines and you got into an accident, your motorbike insurance provider will cover most of the expenses of the third party. The main purpose of this insurance is to protect other people (third parties) who are walking, driving, and riding on the road. ![]() You could get it for as low as 350 pesos. The cost of CTPL/TPL depends on the value of the motorbike that will be insured. How much does CTPL/TPL cost in the Philippines? This will tell you if the motorbike’s TPL is still valid or has already expired. If you rent or borrow someone a motorbike in the Philippines, make sure to check the vehicle’s registration date. Note that each year, the motorbike’s registration needs to be renewed and it is the owner’s responsibility to obtain third-party liability insurance. Once insurance is obtained, the Land Transportation Office (LTO) will issue the vehicle’s registration. Yes, all motorbike owners who apply for registration in the Philippines must first file for CTPL or TPL, also known as Compulsory Third-Party Liability insurance. Is motorbike insurance compulsory in the Philippines? Are you planning to buy comprehensive motorbike insurance in the Philippines? If yes, here are a few things you should know.
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