MOTOR VEHICLE INSURANCE PLANS

Motor Vehicle Insurance Overview


Drive with security with Paramount's Motor Vehicle Insurance. Choose from the basic Compulsory Third Party Liability or for more protection, get our CTPL Plus with add-ons such as Excess Bodily Injury, Property Damage or Paramount Assist.

Each year the number of car accidents in the Philippines grows, every car owner should have motor insurance to protect against the possible costs accrued in the event of an accident.

Whether it is a private car transporting your loved ones or a commercial truck conveying your business' bread and butter, we know that your vehicles carry precious cargo.


FEATURES

MOTOR VEHICLE INSURANCE PLANS

Compulsary 3rd Party Liability Up to ₱100,000 Up to ₱100,000
Own Damage Cover (Car-to-Car Collision) 20% or 30% or 40%
of your Vehicle's Fair Market Value
Excess 3rd Party Bodily Injury** ₱100,000 or ₱200,000
3rd Party Property Damage** ₱100,000 or ₱200,000
Auto Passenger Personal Accident** ₱50,000 or ₱100,000
Roadside Assitance** Max of 3 events per year
More More

** optional additional coverage

Compulsory Third Party Liability (CTPL) - This coverage, subject to the Limits of Liability, pays all sums or expenses necessary to discharge the liability of the vehicle owner with respect to bodily injury and/or death to any Third Party, in an accident caused by or arising out of the use of the motor vehicle.

Compulsory Third Party Liability Plus (CTPL PLUS) - This coverage is a flexible and fully customizable coverage that provides cover against car-to-car collision.

You can extend the coverage with the following add-on's:

  • Excess Third Party Bodily Injury / Excess Liability Insurance - This coverage, subject to the Limits of Liability will reimburse the vehicle owner for all sums actually paid by the vehicle owner to discharge liability in respect to bodily injury and/or death to a Third Party in an accident caused by the use of the motor vehicle when the Compulsory Third Party Liability (CTPL) limit has been exhausted.
  • Third Property Damage - This coverage, subject to the Limits of Liability, will pay for all sums necessary to discharge liability of the vehicle owner in respect to damage to a Third Party property in an accident caused by and arising out of the use of motor vehicle.
  • Auto Passenger Personal Accident - This coverage protects the passenger(s), including the driver of the motor vehicle, against bodily injury resulting in death or disablement caused by an accident while inside the insured vehicle.
  • Paramount Assist (Roadside Assistance) - 24/7 road assistance service that will take care of you and your vehicle in case of emergency situations.
* Acts of Nature like Earthquake, Typhoon and Flood are not covered.