Motorcar Insurance

Several times already insurance companies informed us that they encounter problems with motorcar claims. Reason for this is that said vehicle was sold and the new owner did not inform the LTO for the correct transfer procedure. Even worse, many times we have noticed that both parties do not have a notarised deed of sale, as they do the transaction with an open deal of sale.

One of the reasons is that a new owner does not want the next owner to see that the vehicle had many owners before him. Many times, the buyer with an open deed of sale wants to resell the vehicle only. To his/ her opinion probably it has no sense to update the registration and spend the registration fee.

However, this is not the correct procedure. We must always inform our clients about the correct handling. Although since the number of complaints from Insurers are increasing, we feel obliged to inform our clients and prospects again through this newsletter.

If you buy or sell a vehicle, make sure that the buyer will transfer/ register the vehicle in his/ her or company name at the Land Transportation Office (LTO).

Please make sure that the deed of sale has the following provision:

  • The Buyer shall hold the Seller harmless from the consequences arising from any accident involving the vehicle and that the buyer shall fully assume the responsibility for such consequences!


  • The Buyer should also file at the LTO where the vehicle was registered a copy of the deed of sale and keep it as a proof of such filing. We always advice the seller to get also a copy of the notarised deed of sale.


  • If you are the Buyer and you want (of course you want) to insure your vehicle with Ascolin Insurance, then you may send us a copy of the deed of sale, a copy of the Certificate of Cover and the official receipt (the old ones)


After all handlings are done you may send us copies of the new registration documents.

Ascolin Insurance can offer you a tailor-fit proposal under our Motorcar Protector Plus Package, which includes own damage / theft, acts of nature, civil commotion, high third-party liability cover and passenger accident (optional very high limits possible), compensation loss of use and much more.

In case of claim you will experience a professional and fast claims handling.