Getting insured is a smart decision since it ensures that an individual is well-protected from financial loss in case an accident occurs, or they suffer from property damage. Car owners invested heavily in their vehicles, especially if they’re brand new, so protecting them from further expenses is a must.
Car owners can still ruin their insurance plans in various ways and keeping themselves from being protected from any accidents. Among them are neglecting to pay insurance premiums on time, letting people with no insurable interest drive, selling off the car to a relative without advising them to get it insured, violating traffic laws, and others.
Even using an insured private car for TNVS can keep people from using their insurance plans and end up having rejected claims or even canceled policies. Insurance plans are also significant investments, and ruining them can lead to higher financial losses in the future.
Ruining insurance plans defeats the purpose of getting insured and can be considered a significant waste of money. To know more about the common mistakes done by insured car insurance Cubao owners, see this infographic by iChoose.ph a car insurance comparison Philippines so you can keep yourself from committing them.