Car Insurance Cost

[BrettGC]

So we just received the renewal notice for our car insurance and I nearly fell over.  20600PHP for one year on a 2022 Toyota Rush G.  That's nearly double what I was paying for full comprehensive on my late model Ford Focus back in Australia which was nominally worth more. 

Anyone else found it to be exorbitant car insurance pricing here?

[GeoffH]

48 minutes ago, BrettGC said:

So we just received the renewal notice for our car insurance and I nearly fell over.  20600PHP for one year on a 2022 Toyota Rush G.  That's nearly double what I was paying for full comprehensive on my late model Ford Focus back in Australia which was nominally worth more. 

We pay around 20,000 peso for our Innova E (which is current shape but a few years old) so it doesn't sound that far off.

As for Aussie insurance that'd be around $250 (10000 peso) for insurance on the Focus?  Are you only getting third party insurance for that?

Comprehensive insurance on my little Mitsubishi Mirage I have in Aussie was recently renewed with AAMI and cost $450 AUD (about 17000 peso).

 

NB the 20,000 insurance we pay on the Innova covers repairs to our vehicle and other vehicles (so Aussie comprehensive is the closest comparison I think) and given that our Innova is worth lots more than my little Mirage I'd have said that Philippines insurance is actually a bit cheaper.

Edited February 22, 2023 by GeoffH

[BrettGC]

2 hours ago, GeoffH said:

We pay around 20,000 peso for our Innova E (which is current shape but a few years old) so it doesn't sound that far off.

As for Aussie insurance that'd be around $250 (10000 peso) for insurance on the Focus?  Are you only getting third party insurance for that?

Comprehensive insurance on my little Mitsubishi Mirage I have in Aussie was recently renewed with AAMI and cost $450 AUD (about 17000 peso).

 

NB the 20,000 insurance we pay on the Innova covers repairs to our vehicle and other vehicles (so Aussie comprehensive is the closest comparison I think) and given that our Innova is worth lots more than my little Mirage I'd have said that Philippines insurance is actually a bit cheaper.

I had a 2019 Focus ST Line, insurance was through Budget Direct at about $375 when I last insured it in 2021 so it was just on 2 years old then.  It was full comprehensive.  Now that I think about it, I was paying a little less due to opting for paying a greater excess in the event of an accident.  Admittedly Budget Direct is by far the cheapest insurance I could find and it included roadside assist (same as the local state RAC's), rental if the car needed work, towing service in the event of a breakdown etc. 

Hrmm, prices have probably gone up since then and there's a possibility I messed up the exchange rate in my head when I first saw it.  I'm still interested to hear what everyone else is paying here in PI though.  Yes I just had an entire conversation in my head with myself.  

[Gas]

I agree with Geoff. For the make/model and age the price seems about right to me for the Philippines. You might be able to knock of 1 or 2k shopping around, but i doubt you will get much cheaper. 

Philippine car insurance is for any driver, so sometimes there might be a difference abroad due to no claims, age etc? I recently insured a new Hyundai i30 in Queensland for our daughter and the cheapest we could find was $999 (37,000) . She is 25 and has three years no claims, but was on a Philippine driving until last year, so i guess they bumped the price up.