Here’s all you need to know about insuring a Peugeot in the Philippines

Peugeot is a distinguished European car brand, recognized for its stylish designs and advanced features. In the Philippines, owning a Peugeot means investing in premium quality and performance. However, with this investment comes the necessity of securing comprehensive car insurance.

We here at Carmudi have created a guide that will provide you with an in-depth look into the costs, coverage options, and factors affecting Peugeot car insurance in the Philippines, thus ensuring you make an informed decision.

Why is it important to insure your Peugeot?

Given the brand's luxury status, Peugeot vehicles often come with higher repair costs, making comprehensive insurance crucial. Insurance not only protects against theft and accidents but also provides peace of mind knowing that your investment is safeguarded.

Factors affecting the insurance cost of Peugeot cars

Several factors influence the cost of insuring a Peugeot in the Philippines, including -

Model and variant: The specific model and its variant can significantly impact insurance premiums. Higher-end models typically attract higher insurance costs.

Driver’s profile: Age, driving history, and experience are critical in determining premiums. Younger drivers or those with a history of accidents may face higher rates.

Location: Insurance costs can vary depending on where you live. Urban areas with higher traffic and accident rates generally have higher premiums.

Coverage options: The extent of coverage, including optional add-ons like acts of nature, also affects the overall cost.

Peugeot car insurance cost

Let us now have a look at an estimated breakdown of the annual insurance costs for popular Peugeot models in the Philippines.

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

Peugeot 2008

Price: PHP 1.55 million to PHP 1.76 million
Estimated yearly insurance cost: PHP 28,000 to PHP 38,000

The Peugeot 2008 is a compact SUV known for its urban-friendly design and efficient performance. It is equipped with a 1.2L turbocharged engine, the Peugeot 2008 offers a balance of power and fuel efficiency, making it ideal for urban driving. Also, it boasts a modern interior with advanced infotainment systems, a digital instrument cluster, and comfortable seating.

Insurance overview

It is on the lower end of the spectrum due to its smaller size and relatively affordable parts.

Coverage recommendations

• Comprehensive coverage is advisable given the car’s compact nature and use in the city.
• Include add-ons for theft and acts of nature, given the urban use and popularity of this model.

Peugeot 3008

Price: PHP 2.09 million to PHP 2.54 million
Estimated annual insurance cost: PHP 37,000 to PHP 50,000

The Peugeot 3008 is a stylish and well-equipped compact crossover. It is powered by a 1.6L turbo engine that delivers a smooth and powerful driving experience, suitable for both city and highway use. On the inside, it features a luxurious interior with leather seats, a panoramic sunroof, and advanced safety systems such as adaptive cruise control and lane-keeping assist.

Insurance overview

Its premium features and advanced technology contribute to slightly higher insurance premiums

Coverage recommendations

• Given its mid-range price and tech-savvy features, a comprehensive policy with coverage for both damages and potential electronic malfunctions is recommended.

Peugeot 5008

Price: PHP 2.27 million to PHP 2.69 million
Estimated annual insurance cost: PHP 40,000 to PHP 54,000

The Peugeot 5008 is a midsize SUV with seating for up to seven passengers. With a 1.6L turbocharged engine, the car is designed for larger families, offering ample space and comfort without compromising on performance. It features three rows of seating, advanced safety features, and a versatile cargo space, making it ideal for long journeys and family use.

Insurance overview

Its larger size and more complex mechanical components result in higher insurance costs.

Coverage recommendations

• Full coverage, including add-ons for personal accident insurance and extended liability coverage, is essential due to its family-oriented design.

Peugeot Traveller

Price: PHP 3.39 million to PHP 3.79 million
Estimated annual insurance cost: PHP 52,000 to PHP 73,000

The Peugeot Traveller is a premium van designed for transporting multiple passengers. It is powered by a 2.0L diesel engine, providing the necessary power and torque for carrying multiple passengers and luggage with ease. This Peugeot is designed for comfort and convenience, it features a spacious cabin, reclining seats, and premium finishes, making it suitable for both business and leisure use.

Insurance overview

It incurs the highest insurance costs among Peugeot models due to its size and intended use.

Coverage recommendations

• A top-tier comprehensive insurance policy is necessary, especially if used for commercial purposes.
• Consider coverage for passenger liabilities and acts of nature.

Tips to choose the right insurance coverage

Selecting the appropriate insurance coverage involves evaluating your budget, coverage needs, and the reputation of insurance providers. Ensure that the policy you choose covers the most critical risks associated with your Peugeot model. Here are a few tips to consider when selecting an insurance policy for your Peugeot -

Budget: Determine how much you can afford to spend annually on insurance. Always balance between coverage adequacy and cost-effectiveness.

Coverage needs: Assess your risk factors, such as frequent driving in high-traffic areas or exposure to environmental risks. Tailor your policy to include necessary coverage options.

Policy details: Carefully review policy inclusions, exclusions, and any deductibles. Ensure you understand what is covered and under what conditions.

Provider reputation: Choose a provider with a strong reputation for customer service and claims handling. Look for reviews and testimonials from other Peugeot owners.

Tips to reduce insurance premium

From the above-mentioned Peugeot model insurance cost, it is clear that giving a premium every month can take a toll on an applicant’s budget. Therefore, we have curated a list of some effective strategies for reducing your Peugeot’s insurance premium -

Safe driving: Maintaining a clean driving record can lead to lower premiums over time.

Bundling policies: Consider bundling your car insurance with other insurance types, like home insurance, to receive discounts.

Installing safety features: Adding features like anti-theft devices can qualify you for discounts on your insurance premium.

Opting for higher deductibles: Choosing a higher deductible can reduce your premium, but ensure you can cover the deductible in case of a claim.

Bottom line

Owning a Peugeot in the Philippines is a significant investment in luxury and performance. Thus protecting this investment with the right car insurance becomes essential. By understanding the unique insurance needs of different Peugeot models, from the compact 2008 to the luxurious Traveller, a car owner can ensure comprehensive protection tailored to the vehicle’s value and usage.

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