Compulsory Third Party Liability (CTPL) insurance is a mandatory requirement for vehicle registration in the Philippines as regulated by the Land Transportation Office (LTO). This type of insurance is designed to provide financial protection to third parties who may be injured or suffer damages due to an accident involving your vehicle. While CTPL does not cover damages to your vehicle or injuries to the driver, it ensures compensation for the medical expenses, disability, or death of third-party victims. This essential coverage is a step towards responsible vehicle ownership and helps promote public safety on the roads. CTPL is an affordable and straightforward insurance product, making compliance easy and ensuring peace of mind for vehicle owners.