Car Insurance

**Horsepower** · June 11th, 2015 10:35 AM

pwede sir basta immediately-related ka lang sa isang GSIS member.

In my case, my wife is a Govt-employed lawyer. For convenience, sinama ko na lang sya yesterday. Kailangan kasi ng proof of relations pag di kasama ang member.

They are very accommodating and we've been served really well.

from their webpage:

Light or heavy trucks, school bus, and even motorcycles or tricycles can be covered by Auto Shield as long as it is owned by an active GSIS member or their immediate relatives - spouses, children, parents, brothers and sisters. Unlike other car insurance that considers the age of the vehicle, Auto Shield insures vehicles as long as they are in good running condition.

Coverage of Auto Shield is all-inclusive since it covers the following: loss/own damage of vehicle, comprehensive third party liability, property damage, excess bodily harm, liability to insured passenger and unnamed driver.

Just bring the following documents to any GSIS servicing office nearest you to apply for an Auto Shield:

Duly accomplished Auto Shield Application Form
Photocopy of Certificate of Registration (CR)
Latest Official Receipt (OR) from LTO
Photocopy of previous motor vehicle policy insurance
Retiree number for retired employee and pensioner
Copy of Bank Financing for Mortgaged Unit
Photocopy of Sales Invoice
Any documentary proof of relationship with active GSIS member
You can carry your motor insurance policy with you upon full payment of a nominal annual premium.

With Auto Shield, driving is stress-free!

You need to buy it a their building, 3F GSIS near the Senate. pasok ka sa PICC or check Google Maps if you're not coming from Manila.

**Yuki13** · June 11th, 2015 10:46 AM

^thanks for the info sir. unfortunately walang GSIS member sa immediate family ko.

**dos2** · June 11th, 2015 10:51 AM

I'll take note of this in the future.
Wifey is a govt employee but unfortunately I still have to wait 4 more years since insurance is tied-up with my car loan.
The hassle of going there personally is worth-it giving the low premium price.

**cast_no_shadow** · June 11th, 2015 11:50 AM

Aba hindi ko alam yan ah?

Musta naman kaya pag mag claim ka sa GSIS?

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**dos2** · June 11th, 2015 12:10 PM

Originally Posted by cast_no_shadow

Musta naman kaya pag mag claim ka sa GSIS?

Ay yun lang. Expect the worst na lang siguro since govt to. Baka kasing-tagal ng pag-issue nila ng plaka ko for minor damages na inabot ng 6 months.

**Horsepower** · June 11th, 2015 12:42 PM

GSIS is a well-run GOCC (last I heard). I don't think big insurance companies would reinsure their policies with GSIS if they're hard to deal with.

As with anything, being from a very powerful govt agency accelerates things.

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GSIS is a well-run GOCC (last I heard). I don't think big insurance companies would reinsure their policies with GSIS if they're hard to deal with.

As with anything, being from a very powerful govt agency accelerates things.

**dos2** · June 11th, 2015 01:05 PM

Can't blame the fear at the back of the mind of every Filipino.
We'll, a personal positive feedback can help. (calling anyone out there!)

**kai s.** · June 11th, 2015 01:27 PM

Ngayon ko lang nalaman na may auto insurance pala ang GSIS

Two more years pa ko naka-tie in sa insurance ko dahil yun yung promo ng bank. Haaaay.

**Horsepower** · June 12th, 2015 12:26 PM

Originally Posted by dos2

Can't blame the fear at the back of the mind of every Filipino.
We'll, a personal positive feedback can help. (calling anyone out there!)

Haha,yeah I understand but GSIS is a GOCC. GOCCs are autonomous, financially independent Govt properties.

LTO on the other hand is a Govt regulatory office. It's dependent on the bureaucratic processes. Hence, the inefficiency. Just take the plates for example, with all the cash in their hands right now, how hard is it to buy that stamping machine from EU or US?? Yung windshield license sticker, di man lang RFID eh wala pa 5 pesos isang chip nun.

Chances are high, the insurance you've paid for, for 4 or 5x the price we've paid are likely just reinsured in one of these GOCCs like GSIS. Since GSIS is literally awash in cash, managed and run like a private company, it's a sound decision. Insurance companies earn a lot of money by having cheap but reliable reinsurers.

**derf8666** · June 16th, 2015 12:01 AM

Reinsurance is normal in the insurance business, especially for big accounts. This is to spread the risks so as not to cause the bankruptcy of a company in case of catastrophic losses. This is also for the safety of the clients. It does not make them "insurance resellers". GSIS also insures and reinsures majority of their assets to private insurers and sometimes thru brokers, mostly foreign. As for the low rates, well it could be due to a lot of factors, but mainly because it is tax-free (which covers roughly 25% of premium expenses) and expense free. There are no servicing agents, no managers to pay as the staff already get their salaries from the government. But as some have pointed out here: how would it deal with claims?