Car purchases are a result of hard-earned money, which is why we would go to great lengths just to protect them from any type of damage. Considering that you had spent big in buying the car alone, it is understandable that you wouldn’t want to spend more after that, doing everything to save money right after. But sometimes, things don’t go according to plan and you end up with an unfortunate situation, such as an on-road accident. You may be okay after the collision, but the car isn’t. The bigger the damage, the bigger the restoration expenses. With this, it would be very wise to invest on car insurance, as it would cover most, if not all of the expenses. You may ask, which insurance would best work for me and my car? The simple answer, it would depend on your needs and allotted budget. Here are just a few of the common ones to choose from:
Accidents occur when one vehicle unexpectedly collides with another, so this is one of the most obvious choices. Basically, this coverage pays the amount that your car was worth before the accident. To clarify, it would not provide the price of the car when you first bought it (brand new), rather the amount right after you had purchased and used the car, say for a few months (think of it as a second-hand car amount). This is applicable for a fairly new car (a few months to more than a year), but not for old ones as you would be better off saving for a new car rather than getting low insurance return for an old one.
Road accidents are a confusing topic for some authorities to handle. Who or what was the cause of the accident? Who should you blame? Did you commit the wrong decision at the wheel? This one covers injuries and property damage, no matter who is ultimately responsible for a given accident. This is applicable if you would want to avoid arguments and would just like to settle the damages in a quick and hassle-free manner.
So you already own a car, but still haven’t finished paying for it monthly. All of a sudden, you were involved in an accident, thus, doubling your expenses (both the remaining unpaid amount and the liability charges). This would be a great choice since many insurance policies will only cover the value of the car, rather than the cost to replace it. Usually, car sellers who offer their vehicles for monthly payments include this type of insurance in the package, much to the convenience of their buyers.
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 of a fast, easy, and secure transaction.