Learn how to differentiate a vehicle insurance from a SOAT

When we talk about a insurance and vehicle insurance, we often receive the same question: Are they not the same? Reality tells us otherwise, we are not talking about the same product. That is why in this post we will analyze the main differences between vehicle insurance and the insurance.

Insurance that will protect victims in the event of an accident

Insurance that will protect victims in the event of an accident

Compulsory Traffic Accident Insurance (insurance) is, as its name says, insurance that will protect victims in the event of an accident, whether it is an injury or death. All people affected by the accident receive the same medical care as they are backed by the insurance that supports the car.

The insurance covers medical expenses (surgical, pharmaceutical and hospital), permanent disability, death, funeral expenses and transportation costs of the victims, all in different amounts. It is focused exclusively on the attention of traffic accident victims.

Vehicle insurance is a policy that covers

Vehicle insurance is a policy that covers

On the other hand, vehicle insurance is a policy that covers, in addition to passenger damage, the damage that has occurred to your vehicle. That is, it takes action in all types of accidents: robberies, fires and any other damage suffered by your vehicle, including total loss.

The benefits offered by vehicle insurance depend on the company and the price, since there are different categories. In the same way, the insurance in Colombia carries the same price in all companies but the difference is in the benefits they offer.

It is not that one replaces the other

It is not that one replaces the other

 

But two products that complement each other for the protection of passengers and the vehicle. The insurance protects those that matter to you and vehicle insurance also protects your investment.

In Good Finance you can compare the benefits provided by the insurance of different companies and by doing so you can also compare the vehicle insurance offered by different insurers.

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