What is Comprehensive Insurance?
By Carlo Jeff
Posted on May 27, 2017
Comprehensive Insurance is the highest form of protection you can get from your Car, it is classified into different coverages
CTPL or the Compulsary Third-party Liability
In Philippines, all vehicle owner is required to get CTPL or the Compulsary Third-party Liability because it is required by the law. CTPL insurance covers the person you hit who is injured or killed while using your insured vehicle, it helps you from your financial obligations to the Third-party
EBI,BI or Excess Bodily Injury
Excess Bodily Injury also covers the person you hit in a car accident, it extends the coverage of CTPL Insurance.
PD or Property Damage
Property Damage covers the damage done in any persons property, such as vehicle repair, structural damage or repair to any stationary object like fence.
OD or Own Damage
Own Damage refers to your insured vehicle, It covers the repair or replacement of any damage parts in your vehicle.
Theft refers to the protection of your vehicle from this criminal act, Once your vehicle declared as cannot be recover, Insurance company will pay you according to the recent market value of you car.
PA or Passenger Accident
Passenger Accident covers the protection of person or passenger inside the insured vehicle, It is the compensation for death or injuries sustained in a vehicle accident.
AON or Acts of Nature
Acts of Naure covers the protection to your vehicle in any event of accident caused by nature, such as Hurricanes, floods, hail, tsunamis, wildfires, earthquakes and tornados.