Are Jeep cars expensive to insure in the Philippines? Let us find out

When words like rugged durability, off-road prowess, and a sense of adventure show up in the auto arena, our mind instantly thinks of the Jeep brand. It is no wonder that Jeep vehicles have gained a loyal following in the Philippines, where a diverse range of terrains demands a versatile and robust vehicle.

However, for potential Jeep owners, one important consideration is the insurance cost. It is an expense that needs to be taken up for the much-needed peace of mind and financial help during a distressful situation.

In this article, we’ll explore the various Jeep models available in the market (both new & used), find their insurance costs, and examine the factors that affect insurance premiums for these vehicles.

Jeep vehicles in the Philippines & their insurance cost

Jeep is known for its lineup of iconic vehicles, each catering to a different set of needs and preferences. Whether you're looking for a city cruiser, a family SUV, or an off-road warrior, Jeep has a model that fits the bill. Currently, in the Philippines, Jeep has two amazing models in its lineup - the iconic off-roader Wrangler and the mid-size luxury SUV, Grand Cherokee. However, a prospective buyer can still find Jeep models like the Gladiator, Compass, and Renegade, in the used car market.

Below we have given a brief about all the Jeep models available in the Philippines, along with their prices, descriptions, and insurance highlights.

Disclaimer: The below-mentioned figures are tentative and absolute figures may vary at the time of policy purchase.

Jeep models on sale in dealerships

Jeep Wrangler

Price: PHP 4.490 million - PHP 5.890 million `

Estimated annual insurance cost: PHP 70,000 to PHP 90,000

The Jeep Wrangler is an iconic off-road vehicle known for its unmatched capabilities in tackling rough terrains. It comes with a robust set of features, including a 4x4 drivetrain, roll mitigation, and heavy-duty axles, which make it a popular choice for adventure enthusiasts. However, its higher price point and specialized nature can influence its insurance premiums.

Highlights:

• The Jeep Wrangler’s insurance premiums are among the highest in the Jeep lineup, which is expected given its off-road capabilities and higher market value.
• The Wrangler’s robust construction and specialized parts contribute to higher repair costs, which are factored into the insurance rates.

Also Read: Jeep PH unleashes updated Wrangler Rubicon

Jeep Grand Cherokee

Price: PHP 4.190 million to PHP 4.890 million

Estimated annual insurance cost: PHP 75,000 to PHP 95,000

The Jeep Grand Cherokee is a midsize SUV that offers luxury, performance, and off-road capability in one package. It’s equipped with high-end safety features like blind-spot monitoring, rear cross-traffic alert, and adaptive cruise control, which help mitigate insurance costs despite its higher value.

Highlights

• The Grand Cherokee’s insurance premiums are on the higher end due to its luxury status and advanced safety features.
• Its higher value and the cost of replacing or repairing premium components contribute to increased insurance costs. However, its comprehensive safety package does help mitigate some of the costs.

Jeep models on sale in the used car market

Jeep Renegade

Price: PHP 1.640 million to PHP 1.790 million

Estimated annual insurance cost: PHP 40,000 to PHP 55,000

The Jeep Renegade is the smallest and most affordable model in the Jeep lineup. It offers a unique blend of style, practicality, and off-road capability, making it an attractive option for urban drivers who occasionally venture off the beaten path. The Renegade has a range of safety features, including multiple airbags, ABS with EBD, and stability control, contributing to its insurance premium.

Highlights

• The Jeep Renegade, being the most affordable in the lineup, generally has lower insurance costs.
• Its compact size, comprehensive safety features, and relatively low repair costs contribute to more manageable premiums. However, the insurance costs could increase if the vehicle is used for regular off-roading.

Jeep Compass

Price: PHP 1.480 million to PHP 1.810 million

Estimated annual insurance cost: PHP 45,000 to PHP 60,000

The Jeep Compass is a compact SUV that balances comfort and capability. It is equipped with advanced safety features such as a rearview camera, electronic stability control, and hill start assist, making it a reliable and secure choice for both city driving and light off-roading. The Compass’s comprehensive safety suite plays a role in determining its insurance costs.

Highlights

• The Compass’s insurance costs are slightly higher than the Renegade, reflecting its additional features and higher value.
• Its modern safety suite, including a rearview camera and electronic stability control, helps keep insurance premiums within a reasonable range.

Jeep Gladiator

Price: PHP 3.390 million to PHP 4,890 million

Estimated annual insurance cost: PHP 65,000 to PHP 85,000

The Jeep Gladiator is a unique pickup truck that combines the ruggedness of the Wrangler with the practicality of a truck bed. It’s designed for those who need a versatile vehicle capable of both off-roading and hauling. The Gladiator’s advanced safety features, including adaptive cruise control and forward collision warning, contribute to its insurance considerations.

Highlights

• The Gladiator, with its unique blend of truck and off-road vehicles, has insurance costs that reflect its dual-purpose nature.
• While its advanced safety features help reduce premiums, the potential for off-road use and the higher cost of repairs for its specialized components result in higher insurance costs.

Factors influencing insurance costs of Jeep vehicles

When it comes to insuring a Jeep in the Philippines, several factors come into play. Understanding these factors can help prospective buyers estimate the potential insurance costs associated with owning a Jeep vehicle.

1. Vehicle value

The value of the vehicle is one of the most significant factors affecting insurance premiums. Higher-priced models like the Jeep Grand Cherokee or Wrangler typically have higher insurance costs due to their replacement value. Conversely, more affordable models like the Jeep Renegade may come with lower premiums.

2. Safety features

Jeep vehicles are equipped with a variety of safety features designed to protect occupants and reduce the likelihood of accidents. These features can positively influence insurance premiums by reducing the risk of injury or damage. For instance, features like ABS, electronic stability control, and multiple airbags are standard on most Jeep models and can contribute to lower insurance costs.

3. Repair and maintenance costs

The availability of parts and the cost of repairs can also impact insurance premiums. Jeep vehicles, especially those with specialized off-road capabilities, may have higher repair costs due to the complexity and durability of their components. This can lead to higher insurance premiums compared to more common vehicles with readily available parts.

4. Driver profile

Insurance companies also consider the driver’s profile when calculating premiums. Factors such as the driver’s age, driving history, and location can influence the cost of insurance. For example, a young driver with a history of accidents may face higher premiums than an experienced driver with a clean record.

5. Usage

How the vehicle is used plays a significant role in determining insurance costs. Jeep vehicles used primarily for off-roading or in areas with challenging terrains may have higher insurance premiums due to the increased risk of damage. On the other hand, Jeeps used mainly for city driving may have lower insurance costs.

Tips to lower Jeep’s car insurance premium

While Jeep vehicles are known for their durability and off-road capabilities, there are ways to manage and potentially lower your insurance premiums.

1. Choose a higher deductible

One way to lower your insurance premium is by opting for a higher deductible. This means you’ll pay more out of pocket in the event of a claim, but your monthly or annual premium will be reduced.

2. Bundle insurance policies

Many insurance companies offer discounts if you bundle multiple policies, such as home and auto insurance, with the same provider. This can lead to significant savings on your Jeep’s insurance premium.

3. Maintain a clean driving record

Insurance companies reward drivers with clean records. Avoiding traffic violations and accidents can help keep your premiums low.

4. Install additional safety features

While Jeep vehicles come equipped with a range of safety features, installing additional features like dashcams, anti-theft devices, or GPS tracking systems can further reduce your insurance costs.

5. Limit off-road use

If you don’t plan on using your Jeep for extensive off-roading, informing your insurance company could lead to lower premiums. Vehicles used primarily for city driving generally face fewer risks, leading to reduced insurance costs.

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

Are Jeep cars expensive to insure?

The cost of insuring a Jeep vehicle in the Philippines varies depending on the model, usage, and individual circumstances. Generally, Jeep vehicles tend to have higher insurance premiums compared to more conventional cars, primarily due to their off-road capabilities, higher repair costs, and robust construction. However, by understanding the factors that influence these costs and taking proactive steps to manage them, you can ensure that your Jeep ownership experience remains both enjoyable and affordable.

Bottom line

For those looking to purchase a Jeep in the Philippines, it's essential to factor in the insurance costs as part of the overall ownership experience. By doing so, you can make an informed decision that aligns with your budget and driving needs.

Also Read: Insuring expensive cars in the Philippines: All you need to know