These would be the new SOAT rates in 2025, according to the Financial Superintendency

The Financial Superintendence published a draft of the standard that will establish the prices of Mandatory Traffic Accident Insurance (SOTAT) that will govern by 2025.

The entity assured through its website that the maximum SOAT rates for next year present a reduction of 8.68% for a large part of the vehicle fleet, so “the adjustment in rates for 2025 is mainly explained by the 10% decrease in the number of people affected in traffic accidents; the 2% increase in the insured vehicle fleet, which is lower than the growth of the last two years, and the 3% increase in the average value paid per victim.”

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According to the draft, the price list for motorcycles, motocars, mopeds and other vehicles “with two or three wheels with capacity for the driver and a passenger” will have these rates:

• Moped: $76,200
• Less than 100 cc: $158,800
• From 100 to 200 cc: $213,300
• More than 200 cc: $497,100
• Motorcycles, tricycles and quadricycles: $240,600
• Five-passenger motorcycle: $240,600.

In regards to the private and family vehicles, The SOAT will be adjusted according to the cylinder capacity and age, remaining as follows:

• Less than 1,500 cc: $291,400 (vehicles up to 9 years old) and $386,900 (vehicles more than 10 years old).
• Between 1,500 and 2,500 cc: $355,200 (up to 9 years) and $442,200 (over 10 years).
• More than 2,500 cc: $415,100 (up to 9 years) and $492,600 (over 10 years).
• For vehicles with capacity for six or more passengers, the proposed rates are:
• Less than 2,500 cc: $520,800 (up to 9 years) and $665,100 (over 10 years).
• 2,500 cc or more: $697,600 (up to 9 years) and $837,900 (over 10 years).

As for campers and trucks, they will have differentiated rates depending on cylinder capacity and age, with prices ranging between:

• Less than 1,500 cc: $517,800 (up to 9 years) and $622,700 (over 10 years).
• Between 1,500 and 2,500 cc: $618,500 (up to 9 years) and $733,000 (over 10 years).
• More than 2,500 cc: $725,800 (up to 9 years) and $833,000 (over 10 years).

Cargo and mixed vehicles

Less than 5 tons: $580,400

Between 5 and 15 tons: $838,600

More than 15 tons: $1,060,800

Special vehicles and ambulances

• Less than 1,500 cc: $653,200
• Between 1,500 and 2,500 cc: $823,900
• More than 2,500 cc: $987,900

Public transport vehicles and taxis

• Less than 1,500 cc: $174,900 (up to 9 years) and $218,700 (over 10 years).
• Between 1,500 and 2,500 cc: $217,500 (up to 9 years) and $269,000 (over 10 years).
• More than 2,500 cc: $280,900 (up to 9 years) and $329,700 (over 10 years).

Public, urban and intermunicipal transport

• Less than 10 passengers: $414,900.
• 10 or more passengers: $602,400.

Of interest: How do you know if you are being paid well for your work vacations?

How do you avoid falling for fake SOAT?

Check the insurance companies’ websites for the digital channels and authorized physical points of sale where you can buy SOAT and take into account the following recommendations:

• Verify that the entity is monitored by the Financial Superintendence of Colombia in https://www.superfinanciera.gov.co/jsp/61694
• Access the official channels of the monitored entities to consult the products offered or make payments.
• When using the Internet, enter secure sites and directly type the official web address of the monitored entity.
• If you are going to acquire the SOAT through an insurance intermediary (natural and/or legal persons), verify if it is actually authorized to market it through the Single Consultation System for Insurance Intermediaries in https://www.superfinanciera.gov.co/jsp/10089684
• Refrain from depositing money in bank accounts or deposits whose owner is a natural person, unless you have confirmed that they are an authorized insurance intermediary.