Collision Damage Waiver (CDW)
A car’s basic damage coverage protects you if the car’s bodywork gets damaged. Like most types of coverage, Collision Damage Waiver almost always has an excess, which is the part you’d have to pay towards repairs if the bodywork gets damaged. The participation fee/deductible amount varies depending on the type of car, but it’s usually between P10,000.00-P35,000.00.
Collision Damage Waiver covers only the car’s bodywork, so if there’s any damage to the windows, wheels, undercarriage, interior or any personal belongings, for example, you would pay the full cost of repairing the damage and any administration charges.
Supplemental Liability Insurance (SLI)
Supplemental Liability insurance typically covers damages to other people’s property (e.g. their cars) as well as medical costs for other people’s injuries in an accident for maximum coverage of P100,000.00 for property damage and P100,000.00 for physical injury.