9 Car Insurance Payment Options in the Philippines

Venus Zoleta
·11-min read
car insurance payment options
car insurance payment options

To avoid any hassle when making your car insurance claim, you have to keep your policy active. To avoid missing your premium payments, you have to explore your car insurance payment options.

Yes, because there are more than one way to pay your premiums. Nowadays, car insurance companies in the Philippines made it easy and convenient for their clients to pay for their premiums on time, with various offline and online payment options available. Here are just some of them.

Car Insurance Payment Options in the Philippines

1. Bank Deposit

You can make a car insurance payment in cash at any branch of your provider’s partner bank.

Here are some of the companies that accept car insurance payment via bank deposit:

Company

Bank

Moneymax

BDO

Charter Ping An

Metrobank and PSBank

Etiqa Life and General Assurance Philippines, Inc.

BDO, BPI, Maybank, and UnionBank

Malayan Insurance Co., Inc.

RCBC, Security Bank, and UnionBank

MAPFRE Insular Insurance Corp.

BPI

Paramount Life & General Insurance Corporation

BPI

Pioneer Insurance & Surety Corp.

BPI

Standard Insurance Company, Inc.

BPI

UCPB General Insurance Company, Inc. (COCOGEN)

BDO and UCPB

How to Pay Car Insurance Policy via Bank Deposit

  1. Get a queue number at the bank’s entrance.

  2. Fill out a bills payment slip. Make sure to provide the following details correctly:

    • Account Name/Biller Name – Complete corporate name of the car insurance company

    • Payor’s Name – Policyholder’s full name

    • Account Number/Reference Number – Policy number

    • Total amount to be paid

  3. When your number is called, present your completed slip together with your payment to the teller.

  4. Receive your copy of the machine-validated payment slip.

The insurance provider might require you to send a scanned copy of the validated slip as proof of your payment through email, so keep your copy after it has been issued to you.

2. Online Banking

Car Insurance Payment Options in the Philippines - Online Banking
Car Insurance Payment Options in the Philippines - Online Banking

A more convenient way to pay for your car insurance policy than over-the-counter bank deposit is to use the online banking facility of your provider’s partner bank. Online transactions are generally free of charge, making it a great addition to your list of car insurance payment options.

Here are some of the companies that accept car insurance payment via online banking:

Company

Bank

Moneymax

BDO

Charter Ping An

Metrobank and PSBank

COCOGEN

BDO and UCPB

Etiqa Life

BDO and BPI

Malayan Insurance

BDO, RCBC, and Security Bank

MAPFRE Insular

BDO and BPI

Paramount Life

BPI

Pioneer Insurance

BPI

Standard Insurance

BDO and BPI

If you’re paying your insurance premium for the first time, the bank might require you to enroll your insurer as a biller online. Within 24 hours after the enrollment is confirmed, you can already proceed with your car insurance payment.

How to Pay Car Insurance Policy via Online Banking

  1. Access your bank’s e-banking channel.

  2. Log into your online banking account.

  3. Choose the Bills Payment or Pay Bills service.

  4. Select your enrolled biller (your car insurance provider).

  5. Fill out the online form with all the required information.

  6. Confirm your payment details. Depending on the bank, you might be required to enter the one-time PIN (OTP) sent to your mobile phone.

  7. Click “Submit.” The bank will send you an email confirmation of your car insurance payment transaction.

3. Mobile Banking

Car Insurance Payment Options in the Philippines - Mobile Banking
Car Insurance Payment Options in the Philippines - Mobile Banking

For people who are always on the go, one of the best car insurance payment options to use is the mobile app of their provider’s partner bank. Most banks don’t charge a fee for transactions using their mobile app, while others charge a minimal service fee per successful payment.

Here are some of the companies that accept car insurance payment via mobile banking:

Company

Bank

Moneymax

BDO

Charter Ping An

Metrobank and PSBank

COCOGEN

BDO and UCPB

Etiqa Life

BDO and BPI

Malayan Insurance

BDO, RCBC, and Security Bank

MAPFRE Insular

BDO and BPI

Paramount Life

BPI

Pioneer Insurance

BPI

Standard Insurance

BDO and BPI

How to Pay Car Insurance Policy via Mobile Banking

The procedure for making a car insurance payment using a bank’s mobile app is similar to that of online banking. With mobile banking, you’re just using a different platform (mobile app) and device (smartphone or tablet).

Save up to 30% on car insurance with Moneymax!
Save up to 30% on car insurance with Moneymax!

4. Bills Payment Centers/Apps

If you’re looking for car insurance payment options and you only have cash, check with your payment centers if they accept your provider’s premiums. Car insurance payments can be made at any branch nationwide of the accredited payment centers of your insurance provider.

  • 7-Eleven

  • Bayad Center [1]

  • Cebuana Lhuillier [2]

  • M Lhuillier [3]

  • Robinsons Department Stores

  • Payment counters at The SM Store, SM Supermarket, SM Hypermarket, and Savemore

  • ECPay outlets (select Western Union branches, Tambunting Pawnshops, Petron stations, Ever Superstores, etc.)

Or you can skip the lines and spare yourself the trouble by paying via the bills payment center’s online facility. For example, instead of going to a 7-Eleven store, you can just pay through the CLiQQ app.

Here are some of the companies that accept car insurance payment via bills payment centers:

Company

Bills Payment Centers

Moneymax

Via Dragonpay at 7-Eleven, Bayad Center, Cebuana Lhuillier, ECPay, M Lhuiller, Robinsons Department Stores, and SM Payment Counters

Charter Ping An

ECPay

MAPFRE Insular

Bayad Center

PAMI Insurance

7-Eleven

Paramount Life

7-Eleven, Bayad Center, ECPay, and M Lhuillier

Pioneer Insurance

M Lhuillier

How to Pay Car Insurance Policy via Bills Payment Centers

  1. Visit the nearest branch of your insurer’s accredited payment center.

  2. Fill out a payment/transaction slip.

  3. Present your accomplished slip, premium notice or billing statement, and cash payment.

  4. Receive the validated payment slip and official receipt that serve as your proof of payment.

Read more: Got Bills to Pay? Here’s Your Guide to Bills Payment Centers in the Philippines

5. Credit Card

Car Insurance Payment Options in the Philippines - Credit Card
Car Insurance Payment Options in the Philippines - Credit Card

Aside from online and mobile banking, paying car insurance with a credit card is another cashless method you can use to settle your car insurance premium. Most car insurance companies accept straight payments via Visa or Mastercard.

Here are some of the companies that accept car insurance payment via credit card:

  • Moneymax

  • Etiqa Life

  • Malayan Insurance

  • COCOGEN

How to Pay Car Insurance Policy via Credit Card

Visit the nearest office of your car insurance provider and present your credit card for your payment transaction. After processing your car insurance payment, the cashier will return your card and issue an official receipt.

6. GCash

Car Insurance Payment Options in the Philippines - GCash
Car Insurance Payment Options in the Philippines - GCash

Paying for car insurance in just a few smartphone taps is easy with the GCash app.

Here are some of the companies that accept car insurance payment via GCash:

  • Fortune General Insurance Corporation

  • FPG Insurance

  • MAPFRE Insurance

  • Standard Insurance

How to Pay Car Insurance Policy via GCash

  1. Open the GCash app and log in to your account.

  2. Tap the Pay Bills icon.

  3. Under the Biller Categories, choose “Insurance.”

  4. Select the name of your car insurance provider.*

  5. Enter your account number and the amount to pay. To receive a copy of your transaction receipt via email, enter your email address.

  6. Review and confirm your payment.

7. Check Payment

If you’re not comfortable paying a large amount in cash for your car insurance premium, a safer alternative is to issue a post-dated check. This is also another way to issue staggered payments for your car insurance policy.

Here are some of the companies that accept car insurance payment via check:

Company

Payable to

Moneymax

MoneyHero Insurance Brokerage Inc. (pay at the Moneymax office)

Etiqa Life

Etiqa Life and General Assurance Philippines, Inc. (Pay at the Etiqa office)

Malayan Insurance

Malayan Insurance Co., Inc. (pay at any RCBC or UnionBank branch)

How to Pay Car Insurance Policy via Check

Visit your provider’s office during business hours to personally issue a check payment for your car insurance premium. If you’re too busy to pay personally, you can have the check delivered via courier to the insurance company’s office address.

Some insurers require check payments to be deposited over the counter at any branch of their partner banks.

8. ATM Banking

You may also choose to pay with your ATM card or debit card through any automated teller machine (ATM) of your car insurance provider’s partner bank nationwide.

Here are some of the companies that accept car insurance payment via ATM:

Company

ATM

Moneymax

BancNet

Paramount Life

BPI

Malayan Insurance

Security Bank

How to Pay Car Insurance Policy via ATM

  1. Insert your ATM or debit card into the ATM.

  2. Enter your PIN.

  3. Choose Bills Payment > Category/Type > Company/Biller.

  4. Choose the account (Savings/Checking) from which your payment will be deducted.

  5. Enter your reference or policy number.

  6. Enter the amount to pay.

  7. Get your transaction slip.

9. PayPal

Getting car insurance through Moneymax? You can add PayPal to your car insurance payment options.

How to Pay Car Insurance Policy via PayPal

  1. Log in to your PayPal account.

  2. Click Pay or send payments > Make a payment in a few seconds.

  3. Enter the email address (Ask your Moneymax agent for this info). Click Next.

  4. Enter the amount to pay. Click Continue.

  5. Choose the credit card account where the payment will be charged to. Click Next.

  6. Review the amount and payment method. Click Send Payments Now to complete the transaction.

Can I Pay for My Premium in Installments?

Yes, Moneymax accepts installment insurance payments (up to four installments within 90 days). This applies to the following payment methods:

  • Over-the-counter bank deposit

  • Check payment (one dated check plus three post-dated checks after 30 days, 60 days, and 90 days)

  • Over-the-counter payment via Dragonpay

Paying your insurance policy in staggered payments is a great option if you want more flexibility in your budget. It spreads out payments over three months as opposed to a one-time payment.

However, making a full, upfront payment does have its advantage. Having a fully paid car insurance policy ensures quicker processing of your claims request. Providers do not process claims requests until policies are fully paid.

Which of these Car Insurance Payment Options Offers the Fastest Policy Delivery?

Your choice of payment method, whether in full or installments, won’t affect the speed of the delivery of your car insurance policy.

Moneymax issues paperless policies (also called e-policies), enabling the online brokerage company to provide them in as fast as under 24 hours up to 74 hours upon payment and submission of complete requirements. How fast you’ll receive your policy will depend on the car insurance provider’s processing time.

Final Thoughts

With so many car insurance payment options available, there’s no reason for you to settle your premiums late. Ask your insurance provider or broker about the your updated car insurance computation and payment methods you can use.

Get a Free Car Insurance Quote!

Looking for a better car insurance? Below is a list of top car insurance companies and their features. Compare your options and get a free quote from Moneymax!

Car Insurance Company

Features

MAPFRE Insular

Get Free Quote

Malayan Insurance

Get Free Quote

New India Assurance

Get Free Quote

Prudential Guarantee

Get Free Quote

SGI Philippines

Get Free Quote

Stronghold Insurance

Get Free Quote

The Mercantile Insurance Corporation

Get Free Quote

Sources:

The post 9 Car Insurance Payment Options in the Philippines appeared first on Moneymax.

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    A top Hong Kong microbiologist has advised that elderly and chronically ill residents take the Pfizer-BioNTech coronavirus vaccine following the death of a Sinovac recipient, though a key government expert has said there is little evidence to suggest the mainland-produced jabs should be restricted by age. The debate emerged as the city recorded 11 new Covid-19 infections on Friday, taking the overall tally to 11,066, with 202 related deaths. Four of the cases were from untraceable sources, while three were imported. University of Hong Kong microbiology expert Ho Pak-leung said while it was clear the February 28 death of a man suffering from chronic illnesses was unrelated to the mainland-produced jab, publicly available information on the vaccines was not yet sufficient.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. Ho said published third-phase data on Sinovac clinical trials involving the chronically ill and those aged 60 and above remained insufficient, noting that mainland authorities had recommended residents in those two groups not receive the shot yet. Asked on a radio show whether elderly people and such patients should pick BioNTech, he said: “If you strictly follow the data available and the drug label, that would be ideal.” He said more than 10 million people had already taken the BioNTech jab in the United States, Britain and Israel, making a mass amount of data available for the vaccine, which was jointly developed by German and US firms. “Overall, it’s very safe,” he said. “So if we work in accordance with the data available, then give clear advice about the two vaccines should be diverted [among various groups] there will not be information confusion,” he said. But Professor David Hui Shu-cheong, a respiratory medicine expert at Chinese University and government pandemic adviser, noted the clinical study of Sinovac – which analysed more than 400 people aged above 60 years old – had determined its efficacy rate could still hit 51.1 per cent for the age group if the second shot was injected within 14 days. “Although the number of participants is small, there are signals that its efficacy rate is 51.1 per cent. So it’s hard to restrict them based on their ages,” said Hui, who is also a member of the expert advisory group on vaccines. “If there had been a need to direct residents to take specific shots, the advisory group would have suggested it.” He added that a phase-two clinical study of 350 people aged above 60 indicated that antibodies were developed at a reasonable level after two doses, too. Hong Kong’s vaccination scheme, under way since last Friday, currently provides only Sinovac shots, with the BioNTech version becoming available from next week. On Tuesday night, health authorities revealed the death of the 63-year-old, who had suffered shortness of breath two days after being vaccinated in late February, sparking concerns over the safety of the drugs. Vaccination centres deem dozens unfit for Sinovac jab; city records nine new cases An expert committee monitoring the side effects of vaccines made a preliminary conclusion his fatality was not related to the Chinese-produced jab. In February, Director of Health Dr Constance Chan Hon-yee said two scientific committees under her department had reviewed trial data and decided those aged above 85 years, those who are bedridden or otherwise physically frail, and those with a fever would be advised not to get a BioNTech jab. A fact sheet on Sinovac from Hong Kong’s health department states that only 5.1 per cent of participants in the phase-three clinical trial conducted outside China were 60 years old or above, so the efficacy data for this group was insufficient. For this age category, health status and exposure risks should be considered before taking the jab, it said. But Ho said different doctors could have varying views as to the suitability of those aged 85 and above for vaccination, as the government’s explanation was not clear enough. He said a small number of people would need to seek advice from their doctors before inoculation, and suggested the government arrange consultations for them. “Most of the elderly and those living on a low income cannot afford [the fees for consultation]. So if the government doesn’t follow the Sinovac drug label for elderly people and chronically ill patients, it should arrange for some clinics to provide free consultation for these residents,” he said. Separately on Friday, the Hospital Authority said it was investigating after a man admitted to the accident and emergency department at Kwong Wah Hospital in Yau Ma Tei last week was found dead on a stretcher in a waiting hall. The 63-year-old, who suffered from chronic illnesses, arrived at the hospital at 3pm on Friday, February 26 after visiting a specialist outpatient clinic with complaints of a cough and blood stained sputum. Three hours later, accompanied by family members, the man was placed in a waiting area ahead of admission to a medical ward. Staff were unable to locate the patient by calling his name in the waiting area at 10.30pm and 2am, and at about 5am, a staff member found him unresponsive and with no pulse on a stretcher in the waiting hall. He was certified dead around 17 minutes later. In a statement from the authority, the hospital expressed its condolences to the family. “An investigation panel will be formed to look into the incident,” the statement said. “The case has been referred to the coroner.”More from South China Morning Post:Coronavirus: Hong Kong vaccination centres deem dozens unfit for Sinovac jab; city records nine new Covid-19 casesCovid-19: China will have enough vaccine doses – convincing the public is the issue, experts sayThis article Coronavirus: top microbiologist recommends BioNTech vaccine for Hong Kong’s elderly, chronically ill; 11 new cases logged first appeared on South China Morning PostFor the latest news from the South China Morning Post download our mobile app. Copyright 2021.