- You Have Added Protection Against More Risks
The Land Transportation Office (LTO) requires drivers to have the Compulsory Third Party Liability (CTPL) insurance before you can register or renew your car’s registration. The CPTL insurance policy protects the insured individual from specific liabilities that may arise from an accident. The covered vehicle may be at fault for the unfortunate circumstance and may result in bodily injury or death of any involved third-party victims.
- You will be Protected from Natural Disasters
Sometimes, some disasters are inevitable, such as that of nature. Fortunately, there is additional coverage that gives you protection from damages or losses against these situations. Also known as Acts of God, this insurance plan can cover the cost that your vehicle gained from events that you can’t prevent. Typhoons, floods, earthquakes, tsunamis, and other natural disasters are all included in this type of insurance.
- Your Savings Will Increase
The main advantage of having insurance is to offer financial assistance. Although it may still depend on the type of coverage plan you choose, your insurance company will provide the necessary expenses for repairs and maintenance as long as it’s within the terms and regulations stated in the policy. Additionally, you will also receive assistance if there has been theft regarding your vehicle. However, plans may only cover those that are necessary for car functionality; accessories may be excluded.
- You will Have a High Fee
Generally, having additional coverage also means other expenses; thus, a more expensive insurance premium. Unfortunately, there are some packages that you can’t customize. There might be chances of you paying for coverages that you might not need. In those circumstances, you should know what your necessities are to avoid spending on unwanted add-ons.
- Paying a Part of the Expense When Claiming
Unfortunately, this is something you are required to face when investing in car insurance. In policies, this term is known as the deductible. It’s the necessary amount an individual must pay before an insurance company provides coverage on anything stated in the chosen policy.
With the tips mentioned above, you can decide on whether you want that additional coverage or not. Remember, make sure to know your needs first, and you might avoid unnecessary extra expenses.
At Western Pacific Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at 702-932-3105. Get your free quote today by CLICKING HERE.