It’s not a secret that Having a vehicle has certain advantages for transportation, Even in the most unforeseen moments such as a trip to the hospital, a trip or any other use. Therefore, it is important to ensure a automobile policybecause you are not exempt from suffering an accident that may arise while using your car.
Commonly, insurers offer several services within the comprehensive insurance in which the full coverage of the car in case of theftsupport for damages to third parties from a possible accident and technical assistance with specialized workshops to guarantee repair and original response supplies, among others.
However, these services have a cost that not only depends on the entity with which they are purchased, but also on the model, make, driver behavior and coverage that you choose to preserve the investment, personal or family, that the vehicle represents.
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According to a statement from Carlos Varela, technical vice president of the Federation of Colombian Insurers (Fasecolda), these factors are based on the total amount of insurance, due to incidents of road accidents, mobility on the country’s roads , at the Representative Market Rate (TRM), and even inflation.
In fact, the latter is one of the reasons why policies increased by more than one 100%. For example, the all-risk insurance for a 2011 Kia Picanto, had a cost of $900,000 in 2022, but for this year its price is more than $2,000,000, according to the newspaper ‘El País’.
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This means that insurance, which previously could cost less than a current minimum wage, can now be priced between $2,220,000 and the $10,000,000.
Due to inflation the price of your insurance can increase up to 100%.
According to the president of the National Association of Sustainable Mobility, Andemos, this problem affects the price and validation of vehicles made by insurers, at the time of acquiring the automobile policy.
“Car prices went up between 20% and 40%, which causes your tax base to increase as well. If my used car, which was worth $50 million, today costs $70 million, the value of the insurance is quoted at the latest price, ”he told the aforementioned newspaper.
Similarly, it is important to note that within the study of all-risk insurance, to the above are added Factors such as the age of the insured, his marital status and his history of fines.
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Although it is true that this process is almost personalized, you should keep in mind that due to the information described above, the prices offered by insurers are well above the price you paid the previous year. Remember to be aware of the information provided by your trusted insurer regarding the increases.
Had a traffic accident, what does the insurance cover?
DIGITAL SCOPE WRITING
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