People can already buy the Compulsory Traffic Accident Insurance (Soat) with a 50 percent discount what the government promised. According to External Circular 028 of 2022 of the Financial Superintendency, this measure applies to 14 categories of vehicles. To know the differential rate, the entity enabled a simulator on its website.
Next, we will resolve some of the doubts you may have regarding the reduction in the rate of compulsory insurance.
(You can also read: These are the 14 discounted categories at Soat starting this week)
Are all vehicles entitled to differential rates?
Not all. 14 categories of vehicles will be able to benefit from this 50 percent discount. These are the following:
– Las motorcycles under 100 cubic centimeters (cc) and those between 100 and 200 cc, motorcycles, trikes and quadricycles, as well as motorcycles with up to five passengers.
– Also business cars of up to 1,500 cc less than 10 years old, and those of the same cylinder capacity, but 10 years or more.
Likewise, business cars of between 1,500 and 2,500 cc less than 10 years old, those of the same cylinder capacity of more than 10 years, as well as those of more than 2,500 cc less than 10 years old or older.
– Buses and urban buses.
– The inter-municipal public service of less than 10 passengers, as well as the one that has a capacity greater than 10 passengers transported will also be covered by the discount on the purchase of Soat.
How can I know if the measure applies to my vehicle?
You will need to review the vehicle ownership card to know the technical specifications it has. Normally, the type of vehicle, cylinder capacity, age and passenger capacity appear. However, if you have any doubts, you can go to the Soat marketing channels provided by the insurance companies to confirm the information and the applicable rate.
What insurance companies issue the Soat?
According to Fasecolda, the insurance companies that issue the Soat are:
– Solidarity Insurer of Colombia Cooperative Entity
– Axa Colpatria Insurance
– World Insurance
– La Equidad General Insurance Cooperative Organization
– The Foresighted Insurance Company
– Liberty Seguros
– Mapfre General Insurance of Colombia
– Bolivar Insurance
– State insurance
– South American General Insurance.
On which value should the differential rate be applied?
The rate for the defined categories is equivalent to approximately 50 percent and applies to the sum of the maximum rate of the financial superthe contribution to the Adres (52 percent of the maximum rate of the Superfinanciera, established by Law 2161 of 2021) and the applicable RUNT rate in force as of December 14, 2022.
On the website www.superfinanciera.gov.co and providing the vehicle category in the simulator, the consumer will be able to know the final value in pesos that must be paid.
From when will the differential rate be reflected?
Consumers whose vehicles belong to the defined categories will access the differential rate if they purchase their Soat after December 19, 2022.
Does the medical care of a vehicle with a differential rate change anything compared to one that does not?
No. The differential rate or total cost of the Soat It should not affect the health care of the people involved in a traffic accident. The change will reside in the entity in charge of making the payment of the coverage.
What are the medical protections that my Soat covers?
According to the Government, the medical services included in the Soat coverage will not have any modifications. These include: initial emergency care, hospitalization, supply of medical-surgical material, osteosynthesis, orthosis and prosthesis, supply of medicines, surgical treatments and procedures, diagnostic and rehabilitation services.
What is not covered by insurance?
The Hour It was not created to cover property damage caused by a traffic accident, that is, partial or total loss of the motor vehicle, or personal injuries that were not caused by a traffic accident.
In the cases in which the attention of an injury that was not the product of a traffic accident is charged to the Soat, the Health Provider Institution (IPS) will charge the services to the Health Promotion Entity (EPS) of the injured The behaviors in this class of illicit are typified in the Penal Code, so the people involved must answer to the competent authorities.
What happens if I am entitled to a differential rate and they do not apply it to me or they do not sell me the Soat?
Financial consumers have at their disposal the face-to-face and non-face-to-face channels of the Superfinanciera to present any type of claim.
Why did the Government apply this measure?
The measure is applied with the aim of reducing accident rates in the country, preventing fraud in claims and addressing evasion in the purchase of Soat.
Of the 17 million vehicles registered in the RUNT, 9 million have this mandatory insurance, that is, evasion is 47 percent.
Are there benefits for vehicles that are not in the established categories for the 50 percent discount?
Yes, according to the Ministry of Transport, those vehicle owners who have had a good behavior during the years 2020 and 2021, the discount of 10 percent of the insurance value will be applied.
It is important to clarify that, in no case, the policyholder may claim the benefit more than once for the same vehicle.