Glossary
Car Insurance Glossary: Philippine Motor Insurance Terms
Plain meanings of the car insurance terms you see in the Philippines: CTPL, COC, own damage, acts of nature, participation fee, LTO registration and more.
- Terms:
- 28 terms
- Topics:
- 3 topics
- Updated:
AutoInsurance.ph
Car insurance in the Philippines comes with its own words, from CTPL and COC to AON and participation fee. This glossary gives each term a short, plain meaning and a link to the guide that covers it, so you know what you're paying for.
Policy basics
8 terms
A short window after buying when you can cancel and get a refund, subject to the policy's terms.
Situations or losses the policy doesn't cover. Read them before you buy.
The company that issues the policy and pays valid claims.
The full terms of the policy: what's covered, what isn't and the conditions you must meet.
The person or business who owns the policy and pays the premium.
Continuing a policy for another period. Check the new premium and terms each time.
The most the policy pays for a covered loss or item.
Claims
3 terms
A request to the insurer to pay for a covered loss.
Someone other than you and the insurer, such as another driver or a pedestrian, who may be injured or suffer loss.
How an insurer assesses risk and decides whether to offer cover and at what premium.
Car insurance in the Philippines
17 terms
Optional cover for damage from floods, typhoons, earthquakes and similar events.
The document that proves your CTPL policy, checked when you register or renew with the LTO.
Optional cover that adds damage to your own car, theft and more to third party cover.
The insurance every vehicle must have to register with the LTO. It covers death or injury to third parties, not damage to your car.
The drop in a car's value over time. It can lower the amount insured and the payout for parts.
Third party injury cover above what CTPL pays, often added to a comprehensive policy.
The government agency that regulates insurers in the Philippines. Check that an insurer is licensed before you buy.
Registering your vehicle with the Land Transportation Office, which needs valid CTPL.
CTPL and optional cover for motorcycles, which follow the same LTO rules.
Cover for damage to your own vehicle from an accident, under a comprehensive policy.
The part of each own damage claim you pay yourself before the insurer pays the rest.
Optional cover for death or injury to the driver and passengers, whoever is at fault.
Documents insurers often ask for when you claim after an accident or theft.
An add-on for towing, jump starts and similar help after a breakdown.
Cover if your car is stolen, usually part of a comprehensive policy.
Cover for damage you cause to someone else's property, such as another car or a wall.
Frequently asked questions
Is CTPL enough car insurance?
CTPL is the legal minimum. It covers third party death or injury, not damage to your own car.
What is a participation fee?
It's the part of an own damage claim you pay yourself before the insurer pays the rest.
Does comprehensive insurance cover floods?
Only if the policy includes acts of nature cover. Check the policy wording.
What is a COC?
It's the Certificate of Cover that proves your CTPL policy for LTO registration.
Who regulates car insurers in the Philippines?
The Insurance Commission.
Can't find a term?
Our guides explain each step in more detail.