Owning a motorcycle in the Philippines is so much fun and practical. You see, two-wheels bring you freedom and so much convenience, especially during those rush hours with heavy traffic. These beauties let you breeze through the sea of traffic by making sharp turns and scooting through small spaces. But all this carefree riding comes at a cost, i.e., all the associated risks like high possibility of damage via collision, accident, theft, floods, etc.
Furthermore, owning a motorcycle or a two-wheeler is much more risky than owning a car - you are out in the open, exposed to all kinds of dangers.
What should you do to protect yourself & the motorcycle? The only solution, apart from riding carefully with all the safety gears, is to get motorcycle insurance. The latter offers you financial protection against third-party liabilities and much more. But did you know that even after getting insurance, Filipino motorcycle owners face delayed claim approval, which not only hampers their peace of mind but also strikes them financially?
Is there a way to ensure fast and smooth claim approval? Good news, with the proper knowledge and approach, things will turn out the way you’d like. This guide will walk you through all the appropriate steps and practical tips for a successful and quick motorcycle claim approval, and much more.
So, without any delay, let’s get started …
Motorcycle Insurance: Clearing the basics
To get your motorcycle insurance claim approved without any trouble or delay, it is essential that you first clear your basics, as sometimes even a slight misunderstanding can cause claim troubles. We begin by discussing motorcycle insurance coverage options available.
Types of motorcycle insurance
Compulsory Third-Party Liability (CTPL) Insurance - This one is required by law and is a must for motor vehicle registration at the LTO. It covers third-party bodily injuries or death in case of an accident involving the insured unit.
Comprehensive Insurance - Optional but highly-recommended coverage for Filipinos. It offers broad coverage against theft, accidental damage, fire, flood, third-party property, and other related risks.
Add-ons - Optional but recommended for customised coverage that motor vehicle owners can select according to their needs. Some popular ones are - Personal Accident Coverage, Acts of God, Animal Collision, and Roadside Assistance.
Also Read: How to choose the best motorcycle insurance in the Philippines
Common reasons for filing a motorcycle insurance claim
Let us now have a look at some of the most common reasons why a Filipino motorcycle owner files a claim. The top three on the list are -
- Road accident involving bodily injuries and property damage
- Motorcycle theft or hijacking
- Damage to the motorcycle due to fire, flood, or typhoons
Quick guide to file a claim
To ensure a smooth motorcycle insurance claim filing experience, it's essential to understand the process and requirements. Here are a few basics to remember -
Get a police report - If you're involved in an accident or theft, you need to inform the local police authorities as soon as possible. This will allow you to secure a police report, which will serve as the foundation document for your claim.
Click photos - In the rush of things, such as checking everyone's safety, calling for medical assistance, and informing the police and insurance agent about the incident. Often, the policyholder forgets to take photos of the vehicle damage, the accident scene, road signs, and other relevant details. All this helps support your claim and makes your case stronger.
Fulfil all document requirements - Without delay, inquire about all the documents required for filing a claim. This can be done by calling your insurance provider’s hotline number or your insurance agent. Make sure to collect all the needed documents, including their photocopies, and submit them along with the duly accomplished claim form. Usually, the list includes a police report, driver’s license, OR/CR, insurance policy, and photos of the incident.
Cooperate with the investigation - Your insurance provider will assign an adjuster to visit the accident scene, assess the damaged vehicle, etc, to collect and verify facts related to the incident and claim. Here, you must ensure you are truthful, do not hide facts, and cooperate fully with the adjuster.
Be patient - An insurance claim can get approved within a week, or sometimes it can take over a month. It all depends on the complexity of the claim and the completeness of the documents.
Also Read: What insurers look for in a responsible motorcyclist (riding habits)
Claim & Insurance Commission (IC)
When discussing the basics of motorcycle insurance, it is essential to understand the role of the Insurance Commission (IC) in the whole setup as well. Did you know that IC regulates all the insurance companies in the Philippines? It is the head body that will help you in case your claim is unfairly delayed or even denied. Simply file a complaint with the IC, and you’ll receive all the possible help.
Photo from Freepik10 tips for faster motorcycle claim approval
Tip 1: Know your insurance coverage well
It is highly recommended to read the fine print thoroughly. This will help avoid misunderstandings related to policy terms, coverage, and other essentials.
Tip 2: Keep the documents ready at all times
Make sure to keep essential documents, such as your driver’s license, valid ID, vehicle OR/CR, and insurance policy, together and in one place. So that when the need arises, you can submit them without any delay.
Tip 3: Report the accident immediately
Inform the insurer about the incident as soon as possible, as delays after a certain point may result in claim rejection.
Tip 4: Cooperate with the adjuster
Provide the adjuster with complete information about the incident; do not hold back or hide anything. Remember, transparency speeds up the claim process.
Tip 5: Go for accredited repair shops
Choosing accredited repair shops ensures your claim is approved quickly, as the insurers recognise them. Also, get repair estimates from such shops.
Tip 6: Keep details & policy updated
In case there is a change in your contact details, like phone number or address, make sure to get the information revised in your policy and the insurer’s record. Furthermore, if there is a modification in the vehicle, please inform the insurer about the same to get it covered.
Tip 7: Do not give conflicting statements
Refrain from giving conflicting information or statements to the adjuster. This can raise doubts and delay or even deny your claim.
Tip 8: Take regular follow-up
Don’t be pushy, but it is essential to stay proactive and check claim status regularly.
Tip 9: Go for reliable insurance providers & agents
Avoid cheap offers and significant discounts; instead, opt for well-known and reputable insurers. This will ensure fair claim processing. Similarly, when choosing an agent, work with experienced ones, as they can provide practical guidance and ensure that all necessary tasks are taken care of, including filling out forms, submitting documents, and obtaining a police report.
Tip 10: Go digital
Take advantage of digital courses. Filing claims online is much faster and convenient.
Image from ShutterstockCommon mistakes to avoid when filing a claim
These points may sound repetitive, but committing any of these mistakes can cost you the entire repair, hospital bill, and more. So, bear with us and avoid these common mistakes when filing an insurance claim.
- Submitting incomplete documents can delay your claim by weeks, making it crucial to include all required documents. Therefore, double-check all the requirements before submitting.
- Avoid unauthorised repair shops - Never step foot in a non-accredited repair shop when filing a claim, as they aren’t recognised and can result in delay or rejection of the claim.
- Late reporting - Taking matters lightly and procrastinating will make matters worse. It’s better to report the local police authorities and the insurer/agent soon after the incident.
Also Read: What is motorcycle insurance, and why do Filipinos need it
Motorcycle insurance providers in the Philippines
Here are some known names in the motorcycle insurance market in the country -
- MAPFRE Insurance
- Malayan Insurance
- Pioneer Insurance
- Standard Insurance
- Oona Insurance
- Etiqa Insurance
Attributes to look for in a motorcycle insurer
- 24/7 customer support/ hotline number
- Fast claim process
- Wide coverage at affordable rates
- Strong reputation
- Positive customer reviews
Bottom line
A rider obtains motorcycle insurance to provide financial protection against unfortunate events, including accidents, fire, floods, animal collisions, and vandalism. But it is all a waste if your claim doesn’t get approved quickly or is delayed altogether. Therefore, it is essential to know the tips and tricks to get the claim approved quickly. This includes - knowing the policy (inclusion & exclusion), prompt reporting, fulfilling document requirements, working with trusted insurers, and more. Doing all this will ensure a shorter waiting period and peace of mind.
Remember, for a motor vehicle owner - be it a car or motorcycle, insurance is not just a legal formality but a financial shield against unforeseen events. By taking into account the tips mentioned above, you’ll be able to get the most out of your motorcycle insurance policy.
Also Read: Why motorcycle riders need both CTPL & comprehensive coverage
FAQs
Q1. Is it necessary for motorcycle owners to get insurance?
Ans. Yes, all motorcycle owners in the Philippines are required by law to get CTPL insurance.
Q2. What is the difference between CTPL and comprehensive motorcycle insurance?
Ans. CTPL insurance is mandatory, offers limited coverage, and is affordable. On the other hand, comprehensive insurance is optional, offers wide coverage, and enhances the premium substantially.
Q3. How long does it take to process motorcycle insurance claims in the Philippines?
Ans. Motorcycle insurance claims can be processed within 7 days to a month or more, depending on the complexity of the claim and the completeness of the documents.
Q4. I do not have a police report. Can I still file a motorcycle insurance claim?
Ans. In case of minor damage or a self-accident, you can file a motorcycle insurance claim without a police report. However, a police report is required in case of serious incidents like theft and significant injury.
Q5. What documents are required to file a motorcycle insurance claim?
Ans. To file a motorcycle insurance claim, you would usually require the following documents: vehicle OR/CR, police report, driver’s license, insurance policy, and photos of the damage.
Q6. Can I check the status of my insurance claim?
Ans. Yes. It can be done by contacting the insurer/agent or checking on the insurer’s digital platform.
Q7. What should I do if my insurance claim is denied?
Ans. If your motorcycle insurance claim is denied, you can take the following steps: request a written explanation from the provider, visit IC, and consider taking a legal course.
Q8. How much does motorcycle insurance cost in the Philippines?
Ans. While the basic CTPL insurance ranges between PHP 300 and PHP 600, comprehensive insurance starts anywhere from PHP 2,000 to over PHP 10,000, depending on factors like model, make, type, coverage, etc.
Q9. Is it possible to renew motorcycle insurance online?
Ans. Yes, insurance providers with online presence enable clients to renew online.
Q10. Can I claim if I was at fault for the accident?
Ans. Yes, you can, given that you have comprehensive insurance.
Q11. Does motorcycle insurance cover modifications made to the insured unit?
Ans. Only if the modifications were announced to the insurer beforehand and the coverage was updated accordingly.
Q12. What are accredited repair shops?
Ans. Accredited repair shops are insurer-approved shops that assure quality repair and quick claim approval.
Q13. How do I avoid delays in motorcycle insurance claims?
Ans. Inform your insurer and police authorities as soon as possible, fulfil all document requirements, cooperate with the adjuster, and be truthful.
Q14. If I file a claim, will my insurance premium increase?
Ans. It depends on the frequency of your claim and the insurer’s policy.
Q15. Can motorcycle insurance be transferred to a new owner?
Ans. You can transfer CTPL insurance to a new owner, which is mandatory when selling your unit.
Q16. How can I transfer a motorcycle insurance policy?
Ans. Notify the insurer, transfer ownership at the LTO, and submit required documents.
Also Read: Top motorcycle insurance add-ons every Filipino rider should consider
