I was recently thinking about buying a car in Medellín, but after learning about all the current costs, including insurance, taxes, gas and parking, in addition to the high cost of cars, I decided to stick with the subway and taxis. Third party liability car insurance is mandatory in Colombia and comprehensive insurance for property damage or theft is optional. Therefore, it is important that if you have a car in Colombia you take out more comprehensive insurance than basic SOAT coverage. Although at first the insurance did not offer any guarantee for the victim, the amendment introduced by Law 45 of 1990 to article 1127 of the commercial law not only granted the victim a direct action against the insurer to claim the damages caused by its insured, but it was also expressly established that the purpose of the insurance would be to compensate the victim.
Nowadays, not having SOAT insurance can result not only in fines or the immobilization of your vehicle, but it can also harm you in the event of a car accident. I met a foreigner about a year ago who had a car and only had the mandatory SOAT insurance coverage. Classic Car Plan: The insurance plan is added to the basic plan and provides coverage not only if it causes damage to other people or property, but it also insures your car in the event that you suffer an accident or are the victim of theft. The Medellin Guru insurance service offers insurance services to all foreigners and Colombians who need help in their process of finding the best insurance protection while living in Colombia.
Basic Car Plan: pays for damages that occur when you (or the person you lend the insured car to) drive, and even when it's a car other than the one you insure, as long as you, your partner or your children (under 2 years old) are authorized to do so. SOAT insurance is mandatory insurance for vehicles, which covers bodily harm caused to people involved in the event, whether they are pedestrians, passengers or drivers. Medellin Guru has partnered with an insurance agent to offer auto insurance and other insurance products to foreigners and Colombians. In terms of comprehensive car insurance, some of the largest insurance companies offering comprehensive auto insurance are SURA, AXA Colpatria, Mapfre and Allianz.
In addition, insurance companies in Colombia will have a call center, which the insured person can contact to report a traffic accident.