THE EXECUTIVES
Our Amazing Officers
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
John Doe
CEO and Founder
John Doe
CEO and Founder
Robert Doe
CEO and Founder
Jessica Doe
CEO and Founder
Monica Doe
CEO and Founder
Chris Doe
CEO and Founder
FAQ's
Motor Insurance
Q: Does the insurance automatically transfers to the new owner in the event the insured person sells the insured vehicle?
An insurance policy is a personal contract which means that it attaches to the person insured and not to the vehicle insured. In order to avail the policy benefits, the former owner of the vehicle should provide a written request to transfer the insurance policy to the new owner. Such request has to be approved by the insurance company and an endorsement to the policy has to be issued reflecting the new owner as the new named insured. In case that the former owner will not request the transfer of the insurance policy to the new owner, the new owner can buy his own insurance policy.
Q: If I let someone else drive my car, will my insurance cover them too?
Yes. The insurance policy will still respond as long as the Authorized Driver Clause is not violated. An authorized driver can be the Insured or any person driving on the Insured’s permission.
Q: Are the car accessories covered?
Yes, the standard car accessories are automatically covered under the Own Damage/Theft cover. However, additional accessories should be declared and be insured to ensure full coverage of your insurance policy at times of fortuitous event.
Q: What is the process of filing a Motor Car Insurance Claim?
The process of filing a motor car insurance claim usually involves reporting the incident to the insurance company, providing evidence of the damage or loss, and filling out a claim form. The insurance company will then investigate the claim and determine the amount of compensation you are eligible for.
Q: What type of damages are covered under the Own Damage/Theft coverage of motor insurance policy?
The type of damages are covered under the Own Damage/Theft coverage:
- Accidental damage: provides coverage to the damages caused to your vehicle in case of any accident.
- Theft of vehicle.
- Damage to vehicles due to natural calamities like flood, cyclone, landslide, rockslide, earthquake, etc.
- Damage due to fire and lightning.
Q: What is the meaning of Deductible?
deductible is a certain amount stated in the insurance policy that the insured must pay in case of a claim.
Q: When will the depreciation of the Motor Vehicle take effect?
The depreciation will take effect at the age over 3 years. The schedule of rate is stated in the Policy Form of the Motor Car Insurance.
Fire Insurance
Q: Who may insure?
Building owners and tenants who have insurable interest over the properties that they want to insure.
Q: What happens if the insured property is overinsured?
According to the Open Policy Clause, , at the time of the accident, the damage to the property shall be subject to ascertainment and the maximum liability of the insurer shall be limited to the amount of losses incurred.
Q: Can we insure all of our building contents?
No, this insurance policy excludes cash, jewelry, gadgets and works of art.
Q: What if the insured had an accident outside his house, can he be covered under the personal accident insurance under this package?
Yes, the insured is covered 24/7 worldwide.
Q: What type of damages are covered under the Own Damage/Theft coverage of motor insurance policy?
Yes, the minimum sum insured is P500,000 and the maximum sum insured is P5,000,000.
Q: What is the meaning of Deductible?
It covers the following:
- Accidental collision or overturning
- Fire, external explosion, self-ignition
- Lightning
- Burglary, housebreaking or theft
- Malicious acts other than those caused by the insured, a member of his family or person in his service
Q: In the event the Insured sells the insured vehicle, does the insurance cover automatically attaches to the new owner?
An insurance policy is a personal contract which means that it attaches to the person insured and not to the vehicle insured. In order to avail the policy benefits, the former owner of the vehicle should write a written request to transfer the insurance policy to the new owner. Such request has to be approved by the insurance company and an endorsement to the policy has to be issued reflecting the new owner as the new named insured. In case that the former owner will not request the transfer of the insurance policy to the new owner, the new owner can buy his own insurance policy.
Q: If I let someone else drive my car, will my insurance cover them too?
Yes. The insurance policy will still respond as long as the Authorized Driver Clause is not violated. An authorized driver can be the Insured or any person driving on the Insured’s permission.
Q: Are the car accessories covered?
Yes, the standard car accessories are automatically covered under the Own Damage/Theft cover. However, additional accessories should be declared and be insured to ensure full coverage of your insurance policy at times of fortuitous event.
Personal Accident Insurance
Q: Are medical expenses due to illness covered?
No, only accidents resulting to death and bodily injury are covered.
Q: Who can be considered as the Insured’s beneficiaries?
Beneficiaries can be any of the Insured’s immediate family members such as parents, legal spouse, siblings and children.
Q: What is a pre-existing illness? Is this covered?
Pre-existing illness is defined as any illness or medical condition already affecting the Insured, whether known or unknown, before the effectivity date of the insurance coverage. Hence, Corporate Guarantee does not cover losses attributable to pre-existing illness.
Cargo Insurance
Q: What are the types of Marine Cargo Insurance Policy?
Types of Marine Cargo Insurance:
- Inland Marine Cargo Insurance - This policy is designed to cover cargo movements by land, usually via commercial trucks or similar conveyances
- Inter-Island Marine Cargo Insurance - This policy is designed to cover cargo movements on-board ships or vessels designed for inter-island voyages usually within sheltered waters.
Q: What are the two (2) types of Marine Insurance policy?
Types of Marine Insurance Policy:
- Voyage Policy - a policy that covers a single voyage only.
- Open Policy - a policy whereby the insurer agrees to provide coverage for all cargo shipped by the insured during the policy period.
Q: What are the eligibility criteria for buying Marine Insurance?
Marine insurance can be purchased by any business engaged in the transportation of goods by sea. This can be manufacturers, import/export merchants, buyers, sellers, banks, contractors, and buying agents.
Bonds
Q: What is the difference between a bond and an insurance policy?
A Bond is a contract among at least three parties. It is issued by a surety company on behalf of a second party known as the principal. This contract guarantees that the second party will complete an obligation to a third party known as the obligee. If the obligation is not met, the third party can recover its losses from that bond. An Insurance Policy, on the other hand is a two-party contract between the insured and the insurance company. The insurance policy assumes a guaranteed promise that the insured will be compensated by the insurance company in the case of a covered loss.
Q: What type of damages are covered under the Own Damage/Theft coverage of motor insurance policy?
The type of damages are covered under the Own Damage/Theft coverage:
- Accidental damage: provides coverage to the damages caused to your vehicle in case of any accident.
- Theft of vehicle.
- Damage to vehicles due to natural calamities like flood, cyclone, landslide, rockslide, earthquake, etc.
- Damage due to fire and lightning.
Q: What is the meaning of Deductible?
deductible is a certain amount stated in the insurance policy that the insured must pay in case of a claim.
Q: When will the depreciation of the Motor Vehicle take effect?
The depreciation will take effect at the age over 3 years. The schedule of rate is stated in the Policy Form of the Motor Car Insurance.
Q: What is an Obligee and a Principal?
An Obligee is the entity entitled to receive a product, service, or benefit. While the Principal is the entity that will deliver the product, service, or benefit.
