News & Events

Types of Auto Insurance Coverage: What’s Best for You and Your Budget

Auto insurance is a must-have for anyone who’s willing to save money. Sudden calamities and on-the-road accidents may damage your car, giving you a huge bill when it comes to repairs and replacement parts. Even minor scratches require expensive paint jobs, thus, you are left with only two options: save money by leaving off the required paint spray or spend big just to make your car smooth and shiny again. Fortunately, having a detailed knowledge on auto insurance may enable you to save big, even after an unexpected scratch or collision. Choosing the best one that fits your budget is the key to getting your money’s worth, which is why we have listed down a few examples to help you on your journey towards saving big and protecting your car:

Personal Injury Protection (PIP)

Your car is precious in every little way, but much more valuable is your health and welfare. The PIP coverage is much like any other medical coverage, except for the fact that it covers a much wider range of expenses after an accident has occurred. It includes payment for rehabilitation, work loss, funeral costs, and even replacement services. In other countries, this is a mandatorily implemented coverage.

Uninsured/Underinsured Motorist Coverage

Okay, so you bought an insurance that would ensure you big savings in the event of a collision. What if the other party involved in the accident doesn’t have insurance? No need to worry, as this type of coverage would still protect both you and your wallet. It gives Liability (body injury and car damage) coverage for you, if the accident itself wasn’t your fault.

Comprehensive Coverage

There are times in which your car would experience damage, not from another motorist, but from the forces of nature. It’s hard enough avoiding an unforeseen collision, but much tougher fighting the relentless weather. This type of coverage helps cover the losses to your car in the event of a flood or hailstorm. Other than that, it also includes vandalism, riots, fire, animal collisions, and theft (especially when you live in an uneasy neighbourhood, this one is a must).

So, you finally decided which insurance coverage works best for you, yet, you have no idea where to apply for one. Well worry no more, as we at Cebuana Lhuillier offer AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy, and secure transaction.