23/06/2023
Available Here @ National RD.PAGASA/Brgy.PAYOMPON,MAMBURAO OCCIDENTAL MINDORO,side of Capvigies,near Hosea school
👉What is TPL or CTPL Insurance?🤝
TPL insurance, also known as third-party liability insurance or compulsory third-party liability insurance, is a basic car insurance that is mandatory for all vehicle owners. It provides coverage for liabilities arising from accidents that cause injury or death to a third party. The requirement for TPL insurance is aimed at promoting responsible driving and ensuring that victims of accidents receive financial assistance.
Third-party liability refers to the policyholder's responsibility towards the third party involved in an accident. The third party is defined as any person outside the vehicle who is not a family member or household member. TPL insurance covers the medical expenses of a third party in the event of an accident. However, it does not cover injuries to family members, employees, passengers of public transportation, or passengers of service vehicles.
TPL insurance coverage includes medical or funeral expenses for the third party. The victim and their immediate family can receive financial assistance of up to ₱100,000. In case of death, the third party's immediate family can receive ₱70,000 for death indemnity and ₱30,000 for funeral expenses. If the third party is injured, they can avail medical services up to ₱100,000, with coverage for hospital accommodations up to ₱500 per day for a maximum of 45 days and up to ₱20,000 for medicine. Permanent dismemberment of a third party can result in coverage for loss of limbs, hands, fingers, toes, feet, and sight, with a maximum coverage of ₱50,000 for total disablement.
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