Toyota AVANZA•2025

# Malayan Insurance Terms and Conditions for TPL and Comprehensive Coverage *Third-Party Liability (TPL) Insurance:* 1. *Coverage*: The insurance covers damages to third-party property or bodily injury caused by the insured vehicle. *Comprehensive Insurance:* 1. *Coverage*: The insurance covers loss or damage to the insured vehicle caused by various perils, including: - Accidental collision or overturning - Theft or burglary - Fire or lightning - Flood or typhoon - Vandalism or malicious act 2. *Limit of Liability*: The insurance company's limit of liability is the actual cash value of the vehicle or the sum insured, whichever is lower. 3. *Deductible*: A deductible of PHP 5,000 applies to each claim. 4. *Excess*: An excess of PHP 10,000 applies to each claim for own damage. *Damage or Accident Terms:* In the event of damage to the vehicle or an accident, the insurance coverage will apply. However, the renter is required to pay a: - *Participation Fee*: PHP 6,000 - *Daily Downtime Fee*: PHP 1,500 per day until the vehicle is functional again These fees are non-refundable and must be paid by the renter before the insurance coverage is activated. *General Terms and Conditions:* 1. *Premium Payment*: The premium must be paid in full before the policy's effective date. 2. *Policy Period*: The policy period is one (1) year from the effective date. 3. *Cancellation*: The policy may be cancelled by the insured or the insurance company with a 30-day written notice. 4. *Claims Notification*: The insured must notify the insurance company of any claim within 24 hours from the date of the incident. 5. *Claims Documentation*: The insured must submit all required documents, including the police report, repair estimate, and proof of ownership, to support the claim. *Exclusions:* 1. *Wear and Tear*: The insurance does not cover damage caused by wear and tear, maintenance-related issues, or mechanical breakdown. 2. *Driver's License*: The insurance does not cover accidents caused by an unlicensed driver or a driver with a suspended or revoked license. 3. *Intentional Acts*: The insurance does not cover damage caused by intentional acts or omissions of the insured or any authorized driver. *Dispute Resolution:* 1. *Arbitration*: Any dispute arising from the policy shall be resolved through arbitration in accordance with the rules of the Philippine Dispute Resolution Center, Inc. By accepting this policy, the insured acknowledges that they have read, understood, and agreed to the terms and conditions stated above.