Vehicle insurance protection that is beyond the standard

In 2018, it was reported that the number of registered motor vehicles in the Philippines hit 11.5 million. An increase from 2017’s 10.4 million. With such a high number of motor vehicles plying the roads, highways and expressways of the country, the number of road accidents is also relatively high.

In Metro Manila alone, accidents have been rising since 2005. Figures have reached more than 110,000 incidents in 2018. There are a number of reasons for these but the majority are caused by human error. In fact, human error accounts for eight to nine in every 10 accidents nationwide according to a report conducted by the Philippine National Police (PNP). Human error includes driver’s negligence, distraction, physical challenge like loss of control, drunk driving, bad overtaking, bad turning, texting while driving, and overspeeding.

Though these can be avoidable, road mishaps can still happen. The best defense for any responsible car owner in the event of a road accident is to have a trusted and reliable insurance company insure your vehicle, to ease your stress and financial burden. One such company is Standard Insurance.

Comprehensive vehicle insurance protection

Standard Insurance specializes in motor insurance such as cars, private and commercial vehicles including motorcycles and trucks.  As a full non-life insurance provider, it also covers personal accidents, property insurance (residential and commercial properties), casualty, travel, and marine cargo. With 61 years of operation, Standard Insurance is becoming one of the world’s finest general insurers with branches in over 60 locations nationwide. It has a substantial protection from its panel of reinsurers, meaning, the company buys insurance capacity from the world’s largest and best reinsurers to make sure the insurance cover they issue responds in the event of catastrophic events such as earthquakes, floods, typhoons and tsunamis.

Car Protect is Standard Insurance’s banner product.  It was designed, specifically for sedans, SUVs and AUVs, station wagons, pickups, and vans. It protects the car owners’ vehicle from losses arising from accidents, theft and Acts of Nature. It also responds when the vehicle is damaged, the vehicle caused damage to the property of another person, and if the accident injured another person. The insurance also covers the event of carjacking, carnapping and theft.

Another product is Truck Protect. Truck Protect is a commercial vehicle insurance policy that comprehensively covers commercial vehicles. This policy was designed exclusively for vehicles used as prime movers and for hauling goods and commodities. The following trucks are covered by this policy: light trucks (four wheels), medium trucks (six to eight wheels), and heavy trucks (10 or more wheels).

Motorcycle owners can also avail of Standard Insurance’s products and services. Motorcycle Protect provides motorcycle owners financial protection in the event of an accident, theft or damage. It covers regular and high-end motorcycle units for both private and commercial use.

To make sure someone assists policyholders in the event of an accident, Standard Insurance has a Roadside Assistance Program (RAP) that provides access to towing and other services in case of accidents or mechanical breakdown. With over 600 partners, clients can choose which partner can cater to them, depending on the location they are in and depending on the assistance they require such as towing, on-site repair like tire replacement, and personal assistance. RAP is supported by a 24/7 customer hotline making sure someone is available to provide instructions anytime someone meets an accident. And let us not forget the Facebook page where a customer service staff is always ready to provide assistance for policy claims, request for accredited repair shops, traffic information and road condition, nearest gasoline stations, and even information on the nearest hotels should the client wish to stay somewhere safe after an accident.

The importance of car insurance

Many car owners do not consider getting comprehensive car insurance, thinking that the CTPL (Certificate of Third Party Liability) is enough. After all, that is the only requirement to renew the vehicle registration. Contrary to this line of thinking, having comprehensive car insurance has become a necessity than a luxury. In fact, it is one of the best tools one could have when it comes to providing financial protection against physical damage to the insured vehicle, injuries resulting from vehicular accidents, traffic collisions, and natural calamities.

The most important benefit a car insurance can give is peace of mind. Having a car insurance relieves car owners from worrying where to get payment for hospital bills and car repair, or how to pay and address the injuries of other people, or financial support for the family should something grave happens to said car owners.

A car insurance is an investment, as supported by Joshua Jacaria, VP and head of motor claims of Standard Insurance. “Insurance is something that you should have, but pray to never have to use,” he starts. “In the unfortunate event that you need to use it, you would want an insurance partner that is reliable and responsive to your needs, and capable of assisting you at a time when it matters most,” he adds.

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