Roles of First, Second, and Third Party in Car Insurance
Car insurance is an essential part of owning a vehicle, offering protection and financial security in case of accidents or other unexpected events. In the Philippines, the number of road traffic deaths has risen sharply in recent years. According to the Philippine Statistics Authority (PSA), road traffic deaths increased by 39% from 7,938 in 2011 to 11,096 in 2021. For car owners in the Philippines, it’s important to understand the roles of the first party, second party, and third party in car insurance. This guide breaks down these roles and explains why they matter when it comes to car insurance in the Philippines.
22 Nov 2024
