A lot of people have purchased a vehicle in 2015. However, let’s admit that part of our culture is our aversion to worst-case scenarios. If you’ll look at the data pertaining to the insurance industry’s market penetration rate in the Philippines, this proves that your average Juan Dela Cruz isn’t so used on purchasing an insurance product. How exactly do you get the best car insurance if you are inexperienced in these matters?

This can be a concern especially for someone who is budget-conscious. Of course, every car owner would want the best bang for their buck. Unfortunately, not all car insurance companies are the same, and also the car insurance policies. So how exactly do you find the best car insurance for you? It is a tricky question since you need to check not only the coverage and the product itself but also the company that offers you the insurance product.

Learn the jargons

It is imperative that you learn the jargon first before you consider any insurance product out there. This way, you’ll be able to know the exact coverage and policies that you are paying for. For instance, what’s comprehensive car insurance? Learning these terms, you’ll be able to have a distinction about the right product that fits your needs.

Know the details

You have to know the details. A lot of individuals who didn’t know the details of their car insurance company in 2008 thought that they’d be covered when their cars were flooded during the Ondoy typhoon. Unfortunately, it was only those vehicles with Act of God coverage that were covered.

There are times when simpler is better. Can the car insurance company provide you with bullet points that summarize the product that they are offering? For instance, how much money are you supposed to pay annually for your car insurance? Also, how much are they willing to cover? Does it involve damages to other parties? Here, you will know the scenarios in which you are covered and those wherein you are not covered.

Ask around

It helps that you also do your own research. Do you know why word of mouth advertising is considered the best form of advertisement? It is because of the fact that it came from trusted sources. It is based on personal experience of how things were handled when they had an accident. The last thing that you want is a company to bail when you need them the most.

Know the history of the company

You have to do a bit of research about the company. Experience and their ranking would make a huge difference in giving you peace of mind. Do they have a history of bad reputation? If the company has a history of a bad reputation, it is imperative to know exactly how they handled the situation.

Evaluate your typical risks

You also have to know the risks involved when you are driving your vehicle. Here, you’ll find out what type of coverage you really need. Do you live in a flood-prone area? Or perhaps, you typically park your car in areas known to have been flooded over the years? Here, you will have an idea exactly if you need other inclusions in your car insurance policy.

Compare at least three quotes

You need to know at least three quotes in order to have an idea which is the best deal for you. Most car owners simply stick to one or two car insurance quotes. To have a clear picture of which product is best for your situation, it is best that you use tools such as an online car insurance comparison tool. You can try iChoose.ph for this particular scenario to see top car insurance companies give you a quote for your car.