Terminologies To Understand Before Buying Car Insurance Philippines
                     TERMINOLOGIES TO UNDERSTAND BEFORE 
BUYING CAR INSURANCE PHILIPPINES
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
 Are you  looking to buy car insurance Philippines? If this is your first time, you may 
not have a clue where to start. In order to find the right policy,  you need to have basic 
knowledge of how car insurance works.  Below are some of the things you should do 
in order to make the process of purchasing auto insurance easier.
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
 First of all, you need to get familiar with jargons.  When you have a good 
understanding of the commonly-used terms used on the car insurance policy, you will 
know your coverage better. So, before you start your search for the right car insurance 
policy or insurance company, make sure that you understand auto insurance jargons.
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
 Among the car insurance jargons you need to understand are first-party and second-
party. The very first thing you will come across when you purchase car insurance is 
your role as a buyer. First-party simply refers to the owner of the car, who is buying 
insurance. Second-party is the insurance company which is insuring the car.
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
 Another important terminology you need to understand before buying car insurance 
Philippines is third-party (TP).  Third-party refers to any person who is affected by 
the insured car, say in an accident. For instance, in the event of a collision, the owner 
of the other car in question becomes the third-party.
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
  You also need to understand what own damage (OD) and no claim bonus (NCB) are. 
Own damage refers to any damage to the insured car or injuries to the owner of an 
insured car while no claim bonus is if the  owner of the insured car or third-party does 
not raise a claim in an active policy year, and they are entitled for a discounted 
premium on the next renewal.
TERMINOLOGIES TO UNDERSTAND BEFORE BUYING CAR 
INSURANCE PHILIPPINES
  For more information the terminologies to understand before buying car insurance 
Philippines, visit our website at https://ichoose.ph/