Getting peace of mind on the road doesn’t happen by accident. — PHOTO BY KAP MACEDA AGUILAWhat to keep in mind when choosing protection
HAPPY MOTORING is all about peace of mind. You must be confident in the car you are driving, that it is reliable enough to get you to where you are going. You need to make sure that the route you are taking will get you there the fastest, safely, and comfortably. Know where you can make pit stops as needed and where to seek help in case of an emergency. Going places seems easy enough but no matter how well prepared you are, there is always the possibility that not everything will go as planned. Speaking of which, do you have an eye on the weather?
Yes, accidents do happen. A Statista report on road traffic incidents in Metro Manila shows that incidents climbed from 77,950 in 2010 to a high of 121,770 in 2019. Mobility restrictions during the COVID-19 pandemic saw this number halved to 65,030 in 2020, but is now back on the rise. In 2023, the number of recorded incidents rose to 85,950; from January to November of 2024, the number stood at 62,720.
This underscores the importance of having proper motor vehicle insurance for when you might figure in any of those road incidents. Whether you’re a new car owner or a seasoned driver, having the right car insurance is essential for financial security and the aforementioned peace of mind. Accidents, theft, and other surprises can happen anytime — making insurance coverage a necessity rather than an option. I don’t mean just the Compulsory Third Party Liability insurance mandated by law. That is certainly not nearly enough to provide you with adequate protection.
A comprehensive insurance plan can include coverage for own damage, theft, acts of God, excess body injury, third-party property damage, and passenger injury. The premium you will be charged will depend on your desired coverage, the age of your vehicle, place of use, and amount of deductibles, among others. “Deductibles” refer to the ascribed minimum portion of repair cost that the owner covers out of pocket. If the repair amount is less than the deductible, the owner shoulders the entire expense; if the repairs exceed the deductible amount, the insurer covers the excess.
It is important to remember, though, that it’s not just the amount of your coverage that counts. I would even say that the reliability of your insurer matters even more. AXA Philippines — a venture of AXA SA of France, First Metro Investment Corp. (FMIC), and GT Capital Holdings (GTCAP) — is one of the country’s leading insurance providers. AXA SA is the fourth largest financial services company by revenue in France and the eighth largest French company. FMIC, on the other hand, is part of the GTCAP group, one of the leading business conglomerates in the Philippines with diversified business interests in banking, automotive, property and utilities. Surely, this partnership offers rock-solid credentials when it comes to assuring peace of mind.
AXA Philippines Officer-in-Charge for Commercial Sales and Chief of Partnerships and Employee Benefits Johanna Janeo emphasizes the importance of choosing a trusted insurance partner. “You want to know that your insurer comes through when you need it to,” she told this writer. Ms. Janeo cited several reasons for motorists to be discerning in their choice of vehicle insurer. “Among others, reliable car insurers should offer financial security and stability, efficient claims processing and customer support, flexible coverage options and regulatory compliance, and consumer protection,” she continued.
A report by Shoppable.ph in 2024 listed other major motor vehicle insurance companies in the Philippines. They include Bank of the Philippine Islands-MS Insurance, Malayan Insurance, and Prudential Insurance, among the larger non-life insurers. But there are others that focus more particularly on automotive insurance as well, such as Standard Insurance, Stronghold Insurance Company, People’s General Insurance, and Commonwealth Insurance. It is always advisable to do some research before deciding on your insurer. It will save you a lot of grief should the time come when you figure in an unfortunate accident.
A car buyer is free to choose any insurer. Often, however, auto dealers have preferred partners. The Toyota Insure Program (TIP), for example, works with a select basket of insurance companies that include AXA Philippines, Malayan, Standard, Stronghold and People’s. These insurers are selected based on standards of service that meet customer expectations. Ms. Janeo maintained, “There are good reasons to get your insurance directly from your auto dealer. Among others, you enjoy the benefits of a convenient and hassle-free process — akin to a one-stop shop — and you also have access to a seamless after-sales support for claims and repairs.”
Ms. Janeo also offers some tips to make the claims process easier. “If you make sure to document everything, coordinate with authorities, know your policy details, report claims promptly and stay contactable, filing an insurance claim should be hassle-free,” she explained.
But what excites Ms. Janeo even more are the new products that AXA is rolling out. In line with promoting road safety and rewarding responsible drivers, AXA Philippines and Toyota Motor Philippines (TMP) offer Connected Toyota Insure (CTI) — the first Pay-How-You-Drive car insurance product in the country. Available under the Toyota Insure Program, this innovative policy is designed to help drivers save on insurance premiums based on their driving behavior.
Through Toyota’s myToyota Connect, a connected device in your car tracks driving scores, monitoring habits such as acceleration, braking, and cornering. Safer driving can result in lower renewal premiums, while riskier behavior may limit access to discounts. Beyond cost savings, CTI provides peace of mind with 24/7 claims assistance, access to quality repair at Toyota dealers, and exclusive AXA Motor Club perks.
Car insurance is more than just a legal requirement. It’s an investment in safety, financial security, and overall driving peace of mind. By choosing a reliable insurance provider and exploring innovative solutions, drivers can enjoy comprehensive protection and rewards for safe driving habits.
