MANILA, Philippines – Mapfre Insular has relaunches its Total Protector Package for private vehicle owners. Mapfre Motor Car Underwriting assistant manager Sol Agno said it was relaunched with more affordable rates. One of the key features is the Waiver of Deductible and Depreciation where the deductible and depreciation charges can be waived if the loss is clearly attributable to an identified third party.
Aside from the comprehensive cover provided by Total Protector, the assured has the option to increase his third party liability limit from the standard P100,000 coverage to P500,000 each for third party bodily injury and property damage. Mapfre Insular is a joint ownership between Mapfre of Spain and the Insular Life Assurance Co. Ltd. of the Philippines.
The Mapfre Group is considered to be the largest insurance conglomerate in Spain with a global presence in 36 other countries. Insular Life is the largest domestic life insurance company in the Philippines with over 100 branches nationwide. At present, Mapfre Insular has over 50,000 policyholders from 11 branches nationwide.