How Much Is Car Insurance in the Philippines? Official Rates

Magkano ba talaga ang car insurance? You'll see all sorts of numbers online, and many of them are old or come without a source. We'd rather show you where the numbers come from: the Insurance Commission's own circulars and tariff. They won't tell you exactly what you'll pay for your car, but they tell you how premiums are built and what the official rates are.

We don't show live prices, and we don't price your car's cover. Everything below comes from official documents, with the date of each one. We checked them on 28 October 2026.

AutoInsurance.ph is an independent guide run by Dominet BV. We're not an insurer, agent or broker, and we don't sell policies or give personal prices. Some links on this site may be affiliate links, which means we may earn a commission if you buy through them. Local insurers we mention may not pay us anything. That never changes what we write. Read our affiliate disclosure. The figures on this page are official reference rates, not offers. Your insurer sets your premium.

CTPL: the official premium rates

CTPL premiums are set by the Insurance Commission. The rates come from Insurance Memorandum Circular (IMC) 4-2006, which applies to policies issued from 1 January 2007. When IMC 2024-01 raised CTPL benefits in March 2024, it said the IMC 4-2006 premium rates stay in force, and that any premium changes would be studied once enough data is gathered.

Total premiums under IMC 4-2006, including documentary stamp tax, VAT and local government tax:

Source: IMC 4-2006, confirmed as still in force by IMC 2024-01. Rates as published; checked 28 October 2026.

What you might pay on top

When you renew at or near the LTO, the amount you hand over may include more than the CTPL premium, such as LTO fees, emission testing and inspection. Those aren't insurance premiums. Ask for an official receipt that shows the insurance premium separately, and check it against the table above.

Could CTPL premiums change?

In June 2025, the Insurance Commission posted a draft circular on revised CMVLI coverage for comments (IC Advisory RS-2025-013). As of our check, we couldn't confirm a final circular. If a new circular is issued, the benefits and premiums may change. Check the Commission's circular letters page.

Comprehensive cover: how the premium is built

A comprehensive policy has several parts, and each has its own premium:

1. CTPL (Sections I and II), at the official rate above, unless you already have a separate CTPL.
2. Own damage and theft (Section III), priced as a percentage of the car's sum insured.
3. Voluntary third party liability for bodily injury and property damage (Section IV), priced by the limit you choose.
4. Add-ons like Acts of Nature.

Own damage and theft rates

The Insurance Commission's motor car tariff, with rates as of 1 January 2015, lists these rates for private cars, as a percentage of the sum insured:

For motorcycles, the same tariff lists own damage and theft at 1.40%, theft only at 0.30% and fire only at 0.40%.

The sum insured is the amount the car is insured for, which normally follows its market value. A newer, more expensive car has a higher sum insured, so the same percentage means a bigger premium. Where your car falls in the range depends on the insurer's assessment.

The tariff also notes a 20% surcharge for private cars used for racing, pacemaking, reliability trials or speed testing.

Deductibles

The tariff sets the private car deductible at a minimum of P2,000 or 0.5% of the sum insured, whichever is higher. You can choose a higher deductible for a discount:

A higher deductible lowers the premium, but you pay more yourself on every own damage claim.

Voluntary third party liability

The tariff has separate premium tables for voluntary bodily injury and property damage liability, at limits from P50,000 up to P1,000,000, with different rates for private cars, commercial vehicles and motorcycles. For example, it lists P195 for private car bodily injury cover with a P50,000 limit. Higher limits cost more.

Acts of Nature

The tariff lists Acts of Nature cover at a minimum rate of 0.50%, and defines it as flood, typhoon, hurricane, volcanic eruption, earthquake and other convulsions of nature. Our guide to using your car insurance explains Acts of Nature claims.

A worked example: one car, one year

Here's how the tariff numbers add up for one sample car. This is an illustration using the Insurance Commission's published rates, not a price for your car. Insurers set their own premiums, and the tariff rates are marked as of 1 January 2015.

Sample car: a private car insured for P1,000,000.

Yearly total in this illustration: P560 + P12,500 + P5,000 + P195 = P18,255 at the low end, or P560 + P37,500 + P5,000 + P195 = P43,255 at the high end. Property damage cover would add more, and you should ask whether taxes are included in any figure you're given for the non-CTPL parts.

Deductible for this car: the tariff's minimum is P2,000 or 0.5% of the sum insured, whichever is higher. For a P1,000,000 car, that's P5,000 per own damage claim.

What that looks like per month

People often search "how much is car insurance per month". Most policies are priced per year. If we simply divide the yearly totals above by 12, we get about P1,521 a month at the low end and about P3,605 a month at the high end.

That's an illustration only: the yearly figure divided by 12. It isn't an installment plan. If an insurer or bank offers installments, ask for the total you'll pay over the year, since it may differ from the one-time price.

Listed prices from sellers

For comparison, here are some published starting prices as listed on 28 October 2026. They're typed in by hand from each page and may have changed.

A starting price usually fits a lower-value car or basic options. Your price depends on your car and the cover you pick.

Participation fee and depreciation

Two things change how much you get back on a claim, even after you've paid the premium.

Participation fee. This is another name for the deductible, the part of each claim you pay yourself. The tariff sets the private car minimum at P2,000 or 0.5% of the sum insured. Some insurers publish a fixed amount instead. Malayan, for example, says its AutoMaster participation fee is fixed at P3,000 for private vehicles like sedans and hatchbacks, and P4,000 for special private vehicles like SUVs, crossovers and pick-ups.

Depreciation on parts. The Insurance Commission's standard Private Car Policy form says that when replacement parts are paid, you share part of the cost of brand new parts, based on your car's age: 0% up to 3 years, then 20%, 25%, 30%, 35%, and 40% for cars over 7 years. Our guide to using your car insurance has a worked claim example.

Why your premium may differ from the tariff

• The tariff is dated. Its rates are marked as of 1 January 2015, and the CTPL limit shown on the same sheet (P100,000) is older than the current P200,000 under IMC 2024-01. Treat it as a guide to how premiums are built, not a current price list.
• Insurers assess your car. Make, model, age, use and claims history affect where you fall in a range.
• Taxes and charges. CTPL rates above include taxes. For comprehensive premiums, ask whether the figure you're given includes taxes.
• Agent commission is capped for CTPL. Section 400 of the Insurance Code says commission on CTPL can't exceed 10% of the premium.

How to keep your premium reasonable

• Choose a deductible you could actually pay after an accident.
• Don't double up. If your comprehensive policy includes CTPL, you don't need a second CTPL.
• Ask to extend your comprehensive policy to match your registration month, as Circular Letter 2021-54 allows, instead of buying overlapping cover.
• Buy add-ons for real risks. Acts of Nature makes sense if you live or park in a flood-prone area.
• Ask every insurer for the premium broken down by section, so you can compare like with like.

Frequently asked questions

How much is CTPL for a private car?

Under IMC 4-2006, still in force per IMC 2024-01, the official CTPL premium for a private car is P560 for 1 year or P1,610 for 3 years, taxes included. LTO fees are separate.

How much is CTPL for a motorcycle?

The official rate is P250 for 1 year or P720 for 3 years, taxes included, for motorcycles, tricycles and trailers under IMC 4-2006.

Magkano ang comprehensive car insurance?

It depends on your car's value and the cover you choose. The Insurance Commission's motor tariff, with rates as of 1 January 2015, lists private car own damage and theft at 1.25% to 3.75% of the sum insured, plus separate premiums for liability and add-ons.

How much is car insurance per month in the Philippines?

Most car insurance is priced per year. In our illustration for a P1,000,000 car using the Insurance Commission's tariff rates, the yearly total divided by 12 is about P1,521 to P3,605 a month. Your insurer's price may differ.

Why is my CTPL receipt higher than P560?

The total you pay at renewal can include LTO fees, inspection and emission testing, which aren't insurance premiums. Ask for a receipt that shows the CTPL premium separately.