Reviewing Malayan Auto Insurance: Is it the right option for you?

If you own a car or plan to buy one soon, driving should come naturally to you. If not, then you, my friend, are in trouble. See, driving requires full concentration on the road along with certain fundamental skills, including -

• Understanding & mastering the vehicle’s operation (steering, braking, acceleration, gear shifting, etc.)
• Full knowledge of traffic rules & regulations (traffic laws, road signs & signals)
• Maintaining a safe following distance from the vehicle ahead
• Have lane discipline, wherein you not only maintain your lane but change lanes safely

In addition, there are some must-have skills a driver is expected to learn with time, including.

• Practicing defensive driving
• Learning to drive in adverse weather conditions and on highways
• Perfecting the art of parking with parallel and angle parking

Imagine you have acquired all the above-mentioned skills and more. Does that mean you are now safe on the road and everything will go as per the plan? Sadly, the answer is NO. Being a good driver doesn’t equate to being safe and secure on the road; accidents or collisions can still happen, as everything can’t be controlled, especially on roads. Thus, apart from being a good driver with top-notch driving skills, you also need a good car insurance policy. One that offers ample coverage is trustworthy and falls within your budget.

Also Read: Car insurance made easy: Tips for new drivers in the Philippines.

When looking at the Philippines car insurance market, you must have come across names like SGI Philippines, OOna Insurance, BPI MS Insurance, AXA Philippines, etc. If you are a newbie, check out the top car insurance providers in the Philippines and know which one is right for you, here.

Furthermore, while today our focus is on Malayan car insurance, previously, we have thoroughly reviewed the SGI car insurance and Oona car insurance. So, do check these out as well before making a final call on your insurance provider.

Also Read: How to select a good car insurance provider in the Philippines: Key tips & considerations.

So, without any delay, let us start reviewing Malayan Car Insurance, starting with a little background check.

Malayan Car Insurance: Background check

Malayan Insurance Co., Inc. was founded in 1930 and today is one of the leading non-life insurance companies in the country. With its excellent service, quality insurance protection, and quick processing & settlement of valid claims, it guarantees its clients peace of mind. Further, its extensive network of 35 branches and service offices nationwide helps it offer quality and prompt services.

Here are some notable achievements Malayan Insurance grabbed over the years -

• Since 1970, Malayan Insurance has ranked No.1 by the Insurance Commission in non-life insurance in terms of Gross Premiums Written (GPW).
• For two consecutive years, 2011 & 2012, Malayan Insurance was awarded as Best In Corporate Governance and Corporate Social Responsibility by the Philippine Insurers and Reinsurers Association. Further, in 2013, it was awarded Best in Sustainability.
• For 8 consecutive years, it received a favorable rating from A.M Best
• The company was authorized by the Insurance Commission to underwrite the following - Surety/Bonds, Aviation, Fire/Property, Engineering, Miscellaneous Casualty, Personal Accident, Residential Fire, and Travel Insurance

Also Read: How to select a good car insurance provider in the Philippines: Key tips & considerations

Malayan Car Insurance: CTPL

What is CTPL? Compulsory Third-Party Liability insurance protects the insured from potential financial responsibility for third-party injury and/or death in the event of an accident involving the insured motor vehicle.

 

Every car owner in the Philippines is required to opt for CTPL. As per the LTO, it is mandatory to have CTPL before vehicle registration, and as mentioned earlier, it protects the car owner from any possible liability related to third-party bodily injury and/or death. Still doubting its importance? Here are a few bills covered by CTPL -

• Cost of repairs & replacement
• Medical bills (for anyone injured in an accident)

Also Read: Compulsory Third Party Liability (CTPL) 101: Everything a car buyer needs to know

How to apply for Malayan CTPL insurance?

It is quite simple to apply for CTPL insurance via Malayan Insurance. Just follow three simple steps, and you are done. All you need to do is -

• First, choose the right insurance; in this case, it’s CTPL.
• Next, apply for the same via the Malayan Insurance online platform.
• Last but not least, wait for verification. Once everything is clear, the policy will be delivered to your registered email address.

Malayan CTPL insurance qualification

When applying for CTPL insurance at Malayan Insurance, the applicant either needs to have a brand new car or an up to eight-year-old car.

Malayan CTPL insurance cost

The cost of private vehicle CTPL insurance depends on whether the vehicle is new or old and the type of vehicle. The table below gives you a detailed quotation.

Vehicle	New	Old
Car	PHP 1,709.41	PHP 659.40
Sports Utility Vehicle	PHP 1,709.41	PHP 659.40
Utility Vehicle	PHP 1,709.41	PHP 659.40

Malayan Car Insurance: AutoMaster

In addition to CTPL insurance, car owners need to invest in comprehensive car insurance, as it will give them the confidence to drive around securely. If you are confused between CTPL and comprehensive Insurance, then get clarity by reading this write-up here.

Talking about the comprehensive insurance policy offered by Malayan Insurance is offered under the title ‘AutoMaster’. So, what does AutoMaster offer to the car owners, how much does it cost, and what are the qualifications and documentation required? Let us find the answers to all these questions one by one.

AutoMaster inclusions

AutoMaster by Malayan Insurance offers a car owner the following coverage options -

• Automobile Loss and Own Damage - Safeguards the owner from car-related expenses, i.e., when the car gets damaged or lost.
• Third-Party Liability - AutoMaster shoulders the financial responsibility of injury or damage to others due to an accident involving the insured car.
• Auto Personal Accident - It covers accident and medical expenses for the driver and passenger arising from an accident.
• Acts of Nature - An essential coverage for a Filipino driver, it protects the insured vehicle from damages caused due to natural disasters like typhoons, floods, volcanic eruptions, hurricanes, and others.

Also Read: Understanding nature and acts of God coverage for your car in the Philippines

• Riots, Stikes, & Civil Commotion coverage - It pays for the damages to the vehicle caused due to social unrest and lawless elements like riots, strikes, and other malicious acts.
• Car Accessories Protection - This coverage protects the vehicle’s standard accessories like the audio system, air-con system, mags, etc.
• Optional Valuable Accessories Protection - With AutoMaster, car owners can protect additional features in their vehicle, including the car's sound system, bullbar, spoiler, and customized magwheels. All you need to do is declare the values of the accessories.
• Loss of Use - This one is an extra-mile benefit that offers the owner of the insured vehicle reimbursement of up to PHP 500 as transportation allowance while the car is being repaired. Note that this allowance is paid per day for up to 15 days.
• Accredited Repair Shop - Malayan Insurance has over 160 accredited repair shops nationwide, which ensures the owner of the insured car is on the lead.
• CAMILLE 24/7 Roadside Assistance - CAMILLE refers to Call Malayan Insurance Live Line, which offers 24/7 roadside assistance service to the owner of the insured car. All they need to do is call either 02-8459-4702 or 0917-118-0302.

Also Read: Roadside assistance coverage: Meaning, benefits, services & more

How to apply for Malayan AutoMaster?

It is quite simple to apply for AutoMaster by Malayan Insurance. In just three steps, you’ll be able to get comprehensive insurance for your car.

• Fill out the quotation form (model & few personal details)
• Choose the preferred package
• Enter the required personal details
• Go through the summary
• Get confirmation

Malayan AutoMaster - Qualification needed

Wanna get the benefits of Malaya’s Automaster insurance coverage that protects the car owner against loss, damage, and/or liability that occurs as a result of the vehicle’s ownership, use, operation, and maintenance? You can apply for the AutoMaster if -

• You have a private vehicle that is no more than 8 years old.

Note, if you have a car older than eight years you would need to call Malayan Insurance customer service at (02)8628-8628.

Malayan AutoMaster - Documents required

• Official Receipt and Certificate of Registration - Clear copy
• Sales invoice for brand-new cars
• Photo of the vehicle from all profiles - front, rear, and side-by-side
• Valid ID
• Deed of Sale for pre-owned cars

Also Read: Must-have car insurance policies for Philippine drivers

Malayan Car Insurance: Claim process & requirements

To file a claim, the car owner first needs to fulfill the general claim requirements, followed by submitting the claim form and waiting for approval from the insurer.

Requirements

Let us check out the requirements for the claim process as per the coverage in the table below.

Requirement/Coverage	Own Damage	Third-Party	CTPL/Death	Auto Personal Accident	Carnapped	Third-Party Property Damage
Police Report or Notarized Affidavit of Accident - Original copy	Needed	-	Needed	Needed	Needed	Needed
Stencils of Motor/Chassis number	Needed	Needed	Needed	Needed for 10-year-old cars	-	Needed for 10-year-old cars
Driver’s License & Original Receipt - Photocopy	Needed	Needed	Needed	Needed	Needed	Needed
Certificate of Registration - Photocopy	Needed	Needed	Needed	Needed	Needed	-
Colored pictures of the damaged unit showing the plate number	Needed	Needed	-	-	-	-
Certificate of No Claim from the Third Party Insurer	-	Needed	-	-	-	-
Registration and Original Receipt	-	Needed	-	-	-	-
Medical Certificate - Original	-	-	Needed	Needed	-	-
Pharmacy Charge Slips or Drug Store Receipts - Original	-	-	Needed	Needed	-	-
Statement of Account from Hospital or Receipt of Professional Fees - Original	-	-	Needed	Needed	-	-
Funeral/Burial Expense Receipts	-	-	Needed	Needed	-	-
Death Certificate/ Post Mortem	-	-	Needed	Needed	-	-
Report Proof of Legal Beneficiaries	-	-	Needed	Needed	-	-
Birth Certificate of minor TP claimant	-	-	Needed	Needed	-	-
Bank Certification on Outstanding Loan	-	-	-	-	Needed	-
Complaint Sheet/ Alarm Sheet	-	-	-	-	Needed	-
Certificate of Non-Recover - Original	-	-	-	-	Needed	-
CR & OR Deed of Sale	-	-	-	-	Needed	-
Chattel Mortgage - Original Release	-	-	-	-	Needed, if any	-
Proof of Ownership	-	-	-	-	-	Needed
Repair Estimate/Quotation from Shop	-	-	-	-	-	Needed
Appraiser Photograph of Damages Repair	-	-	-	-	-	Needed
Invoice & Official Receipt	-	-	-	-	-	Needed

Process

No need to head to the Malayan Insurance office and queue up, as the insurer offers a smooth and quick online claim process. Just get the required documents ready, along with the duly accomplished insurance claim form, and you are done.

Alternative car insurance providers

There is no harm in checking out other auto insurance providers, as your end goal is to associate with the best-fit, both in the sense of coverage and cost, insurance provider. Here are some options to consider -

• Prudential Car Insurance - Offers value-added services, free towing, breakdown services, and 10 years of casa eligibility.
• Mercantile Car Insurance - Offers personalized services for retail & corporate accounts, 77 casa repair shops, and 10 years of casa eligibility.
• Stronghold Car Insurance - 10 years of casa eligibility, 167 accredited repair shops, and 2 waived deductibles.
• SGI Insurance - Excellent customer support with 3000 branches worldwide, 5 years of casa eligibility, and 134 accredited repair shops.
• Oona Car Insurance - 24-hour roadside assistance, a convenient claims process, and a wide range of customer support options.

Bottom line

Malayan Insurance is one of the industry leaders that offers extensive car insurance coverage that will safeguard your vehicle from accidents, theft, natural calamities, and more. With its 24-hour response service, 24/7 emergency roadside assistance, and 160 accredited repair shops nationwide, it surely is a promising insurance provider. However, when making the final call, always compare different providers and several parameters, and choose the one that best fits your requirements and budget.

Also Read: Driving habits that insurance companies prefer