Saturday, May 18, 2024

Insure to Be Sure: Rebuild, get back on track and heal with the BEST Non-Life Insurance in the Philippines

Insure to Be Sure: Rebuild, get back on track and heal with the BEST Non-Life Insurance in the Philippines

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During these uncertain times of the pandemic, we are placed into a situation where we have to learn to adapt to changes and accept them as part of what we now call the “New Normal.” In this new normal, aside from keeping our health and safety as our top priorities, we all suddenly focused on things that can help us get ready for the uncertainties.

We know about life insurance but this new normal opened our eyes to other possibilities and social protocols that seem too farfetched to us before all of these happened: work from home, social distancing, online selling, wearing of masks everywhere we go, distance learning, online banking, among others. Just like life insurance, all of these have things in common, prevention and protection, they help us prevent the risks and protect ourselves from being infected from this unseen enemy.

These are in place because we might not know the uncertainties that life may bring but we can lessen, if not prevent, the risks and protect ourselves, our family members and yes, even our personal assets.

Beyond insuring that life continues after we are gone, it is also a great thing to help secure other non-life assets while we are still alive, this where non-life insurance companies in the Philippines come in.

There are a lot of insurance companies in the Philippines, mostly offer life insurance. Here are the top 5 leading non-life insurance companies in the Philippines:

Ranking Name of Company Gross Premium Written (₱)
Malayan lnsurance Company, lnc. 9,155,299,415
2.         Prudential Guarantee & Assurance, lnc. 9,639,995,944
3.         Pioneer lnsurance & Surety Corporation 9,293,811,025
4.         BPI/MS lnsurance Corporation 5,815,684,492
5.         Charter Ping An lnsurance Corporation 5,671,051,666

Malayan Insurance Co., Inc., has been ranked number 1 in non-life insurance in terms of Gross Premiums Written since 1970 by the Insurance Commission.

So, the question here is, what are the other products or entities can be insured? Upon checking the leading non–life insurance company in the Philippines, I listed out the products or entities that can be covered for non-life insurance.

Aviation Engineering Marine Miscellaneous Casualty
Personal Accident


Fire Motorcar
  • Aviation – Insurance for owners and operators of aircrafts.
  • Engineering – Insurance policies that protect both the contractor and the project owner against accidents.
  • Marine – Insurance that protects you, also the cargo, against navigation risks to which a ship, cargo, freight, profits or even interests on movable properties which may be exposed to perils of the sea during a voyage or for a period of time.
  • Miscellaneous Casualty – Insurance contract whereby the insurer agrees to indemnify the insured in the event insured is held financially and legally liable.
  • Personal Accident – Accidents resulting in prolonged or permanent injury bring life to a halt, especially if you’re providing.
  • Surety – Not a contract of indemnity, but a contract of guarantee for those who invest in bonds.
  • Fire – Insure your property against the loss and damage caused by fire.
  • Motorcar – This is for Vehicular Accidents, even provides Transpo allowance while your vehicle is being repaired.
Moto Max Family Relief Travelite
Travel Master Automaster Total One Protection
Home Protect Plus Business Protect I4U
Golfers OFW Bantay Pamilya
  • Moto Max – Motorcycle Insurance Protection.
  • Family Relief – Protection for future financial burdens brought by misfortunes.
  • Travelite  – Budget-Friendly Protection, for Budget Travelers.
  • Travel Master – Comprehensive travel protection.
  • Automaster – Protection for you and your passengers.
  • Total One Protection –  Ensure that your loved ones will always be safe and secured.
  • Home Protect Plus – Home protection insurance.
  • Business Protect –  Asset protection for various commercial businesses such as offices, restaurants, & small kiosks.
  • I4U – The i4u incorporates a Personal Accident insurance covering accidental death and dismemberment.
  • Golfers – Guaranteed to provide protection from any untoward incidents on the green.
  • OFW Bantay Pamilya – The insurance package designed specifically for families of OFWs.
Fine Arts Insurance Annual Travel Insurance
  • Fine Arts Insurance – Insurance program especially designed to compensate you in case of loss or damage to your precious works of art.
  • Annual Travel Insurance – Travel Master’s Annual Plan, the Frequent Flyer Special, is specially packaged for on-the go travellers.

No matter what life throws your way, be ready and let these non-life insurance companies help you rebuild, get back on track and heal.

But if you are interested in what I have listed here, #InsureToBeSure and visit the Malayan Insurance Co., Inc. website and check their non-life insurance products for individual clients, families and businesses.