We provide competitive local insurance premium (LIP) options, offering businesses cost-efficient risk management solutions for their goods and assets.
Local Insurance Premium (LIP) Services in the Philippines refer to the cost of insurance coverage provided by local insurance companies for various types of policies, including cargo insurance, property insurance, life insurance, motor vehicle insurance, and surety bonds. The Local Insurance Premium (LIP) represents the amount paid by policyholders to secure financial protection against specific risks such as loss, damage, accidents, theft, or liability.
In the context of trade and customs, the Bureau of Customs (BOC) may require the declaration of Local Insurance Premiums when computing the dutiable value of imported goods. Importers must ensure that insurance costs are accurately reflected in the Customs Value Declaration (CVD) to comply with valuation regulations.
Local insurance services in the Philippines are regulated by the Insurance Commission (IC) under the Department of Finance (DOF), ensuring that insurers operate legally, maintain financial stability, and provide adequate protection to businesses and individuals.
We provide competitive local insurance premium (LIP) options, offering businesses cost-efficient risk management solutions for their goods and assets. Our local insurance services cover damages, theft, and other risks that could affect business operations.
With Jill L. Tolentino Customs Brokerage LIP services, companies can customize insurance policies based on their needs and budget. We collaborate with trusted insurers to provide flexible and reliable coverage that safeguards business assets effectively.
Local Insurance Premium (LIP) provides coverage for goods while they are in transit within the Philippines. It protects shipments from risks such as loss, theft, or damage during local transportation.
LIP can cover various shipments, including retail goods, raw materials, fragile or high-value items, and industrial equipment.
Jill L. Tolentino Customs Brokerage works with trusted insurance providers to help clients secure competitive rates and the best coverage for their shipments. We also assist in processing claims to ensure a smooth and efficient settlement process.
At Jill L. Tolentino Customs Brokerage, we specialize in providing expert logistics solutions tailored to help your business thrive. Whether you're importing, exporting, or navigating complex customs regulations, our dedicated team ensures seamless operations and reliable service.
