TPL = third party liability. Useful if you got into an accident where you hit a person. So for example, may nabangga ka tao tapos pinaospital mo at ikaw nagbayad. You can use the TPL claim to reimburse yung expenses mo pa-gamot dun sa tao. Say TPL coverage mo is 50K tapos ang nagastos mo sa pagamot dun sa tao is 15K so 15K lang ma-reimburse mo, hindi mo makuha buo 50K.
Common misconception is that TPL can be used for non-life claims e.g. nakabangga ka sasakyan tapos nasira yung bumper.
most comprehensive insurances include third party liability claims in their insurance package. Usually kasi comprehensive insurances covers most kinds of liabilities but provides exceptions to the policy like acts of god, theft, etc. but to make sure, just ask your insurance whether a third party claim is already included in your insurance policy.
compulsory po ito ng government to get an insurance for the purpose of protecting the third party.
consists of own damage/theft + VOLUNTARY tpl ( be it BI - Bodily Injury and PD - property damage). the name itself speaks - BI & PD. In lieu of the CTPL, kung kulang pa ang damage/claim, the comprehensive
coverage will take care the rest. comprehensive also covers acts of god (flood, lightning, earthquake) for additional cost aside from what i have mentioned above.
The BANK requires to have your car enrolled in COMPREHENSIVE INSURANCE as this is also your (mutual) protection against bad elements (carnappers, property damage). Dito kumikita ang dealership sa insurance kasi they can get as high as 25% doon sa OD/TH & BI/PD coverage mo . Some banks (tied up with insurance companies) requires you to pay upfront or payable in x no of months. Most insurance companies now offers installment. Galingan mo na lang makipagbolahan kung pwedeng 12 months to pay hahahaha!!!