The SOAT discount will apply to 13 types of vehicles, not just motorcycles, and there is also another “one time” discount for good behavior.
Colombian News.
As promised by the national government, SOAT will be worth less for some types of vehicles in Colombia. This Saturday they published Decree 2497, which was signed on December 16, 2022.
The discount, which is 50%, was expected at the beginning of December.
With this decree, a differential rate is established and the determination of the rate of the Compulsory Traffic Accident Insurance, SOAT, by the Financial Superintendence of Colombia is overturned.
Namely, no longer all vehicles and motorcycles will pay the same.
- Vehicles in the categories moped, motorcycles under 100 ce, motorcycles
from 100 ce and up to 200 ce, motorcycle trikes and quadricycles, 5-passenger motorcycles,
business cars, taxis and urban minibuses, urban public service, buses and small buses
and inter-municipal public service vehicles established in Annex I of Title IV of
Part II of External Circular 029 of 2014 of the Financial Superintendence of
Colombia
As the Compulsory Traffic Accident Insurance -SOAT- is a
compulsory insurance contracting, the insurance companies authorized to operate
the branch are obliged to issue the policies that are requested throughout the country.
The impact generated by the measures referred to in article 1 of this Decree, that is, the differential rate that will be less for a group of vehicles, “will be financed with the transfer that the General Budget of the Nation appropriates for the closure of the General System of Social Security in Health administered by ADRES, in accordance with budget availability”.
attention
Among the novelties is that “payments for health services that exceed the coverage limits established in this article will be assumed by the entity
health promoter to which the victim is affiliated.”
In other cases they will be attended by the administrators of the Special and Exception regimes when the victim belongs to these.
Or, by the Occupational Risk Administrator – ARL-, to which it is affiliated,
in the case of an accident at work.
If you do not have a subsidized or contributory affiliation, “they must be treated in public or private health services, and the secretary of health or the entity acting on their behalf must be notified so that the affiliation procedures can be carried out.”
There is a one-time discount also for ‘good behaviour’ drivers.
«The owners of vehicles that register good road behavior for not reporting accidents that affect the SOAT policy and that have renewed their policy in a timely manner (before its expiration), will be entitled to a decrease in the value of the insurance, up to 10% on the value of the issued premium.
In such a case, it is clarified that this benefit applies only once for the same vehicle. “In no case may the policyholder be creditor of the benefit more than once for the same vehicle.”
This decree will enter into force, from Monday, December 19, 2022, since it was signed on Friday the 16th.
This discount will apply to at least 9 million motorcycles and thousands more vehicles.
Until the entry into force of this differential charge, the SOAT ranged from 207,000 pesos to 627,800.
