Commonwealth Insurance Company offers a diverse range of insurance products to serve your growing needs.
Motor Car Insurance
CIC’s Motor Car Insurance will cover loss, damage, or any other legal monetary liabilities arising from the use of a vehicle. CIC’s motor car insurance provides financial protection against:
- Carnapping
- Acts of Nature
- Own Damage
- Bodily Injury
- Personal Accident
- Property Damage
- Third Party Liability
Marine Insurance
Importing goods from another location and transporting them involves financial risks for your company, and CIC can protect you. From preparation, navigation or transportation of your shipment, CIC will reimburse in case of loss or damage. Our Marine Insurance Categories:
- Inland Marine
- Marine Cargo
Engineering Insurance
Constructing a new home or a commercial property can be worrisome, but CIC’s Engineering Insurance will protect you from any loss or damage during construction or erection works. These include:
- Contractors’ All Risk Insurance
- Machinery Breakdown Insurance
- Electronic Equipment Insurance
- Erection All Risks Insurance
- Boiler and Pressure Vessel Insurance
- Deterioration of Stock Insurance
Personal Accident Insurance
Designed to provide year-round protection for individuals, families or groups, CIC’s Personal Accident Insurance guarantees full benefits for accidental permanent disability, dismemberment or loss of life. Personal Accident Insurance Categories include:
- Standard Personal Accident Insurance
- Executive Accident Insurance
- Group Student Accident Insurance
- Family Accident Insurance
- Travel Personal Accident Insurance
Special Risk
CIC’s Equipment/Property Floater Insurance protects your movable property against loss or damage while in various locations or in transit. This insurance policy is commonly used to cover
Heavy construction equipment like Bulldozers and Backhoes
Miscellaneous
Comprehensive General Liabilities (CGL)
Commonwealth Insurance Company offers CGL policy that protects the insured against his legal liabilities in connection with his business affairs. CIC assumes the legal monetary liabilities, which the insured may incur for bodily injuries to other or for damage to their property caused by accident in connection with hazards from premises operations, elevator, independent contractor, products and contracts.
Money, Securities & Payroll Robbery Insurance (MSPR)
Our Money, Securities and Payroll Robbery policy is designed to provide protection to business establishment against loss of money, securities or payrolls due to robbery.
The coverage, extending as it does to checks and other papers representing money and other property, provides valuable protection to even those institutions that keeps little or no cash on hand.
Fire Insurance
Protect your business from fire or any unfortunate natural disaster. Damages on the structures or its contents will be paid out by this insurance policy in case of fire, lightning, or any other peril as you request. This may include:
- Typhoon & Flood
- Extended Coverage
- Water Damage
- Sprinklers Leakage
- Burglary and Robbery
- Business Interruption
- Earthquake
- Riot, Strike, Malicious Damage
- Bursting of Pipes
FAQ's
Fire Insurance is an insurance protection for properties like houses, condominiums, apartments, buildings, and etc. This is an insurance protection for both the contents of the property and the property itself.
No. Under the Fire Insurance Policy, the insured may choose to get protected against typhoons, floods, earthquakes, water damages, sprinkler leakages, robbery and burglary, and etc.
Both.
Houses are considered to be one of the most important assets anyone can own. For a small amount, have it protected against multiple perils that it can be exposed to.
Business owners have invested a lot to establish their dream businesses. They should not allow unforeseeable risks destroy everything. They should have it insured.
Bonds
As an added security, CIC guarantees the contractual or legal obligation of another company called principal in favor of another party called oblige. Various surety bonds are offered by CIC, including:
- Bidders Bonds
- Performance Bonds
- Surety Bonds
- Judicial Bonds
- Heirs Bonds
- Fidelity Bonds
- Real State Brokers Funds
FAQ's
Bonds is a form of insurance that undertakes the legal obligation of one party to the other.
An Obligee is the entity entitled to receive a product, service or benefit. While the Principal is the entity that will deliver the product, service, or benefit.
The requirements will depend on the type of bond you will purchase.
Please refer to this link for the complete requirements: Bond Requirements