Everything You Need to Know About SOAT and Its Importance for People Who Drive in Colombia

No matter how safe you are as a driver, Colombian roads can still be unpredictable. Bad things can still happen. It’s unfortunate to have to deal with the aftermath of an accident, but it’s even worse to have to deal with financial consequences too.

Because of this possibility, there is a no-fault insurance called SOAT. This isn’t just something that you can consider getting just for the sake of it. The importance of SOAT lies in its ability to provide immediate financial support to protect everyone on the road and ensure they get help right away.

So, whether you’re new to driving in the country or just want to deepen your understanding of the rules involved, you’re in the right place. Learn more about what SOAT is and why you absolutely should have it before you get in the driver’s seat.

Seguro Obligatorio de Accidentes de Tránsito, or SOAT, refers to a type of accident insurance that you’re required to get for your vehicle. In Colombia, this provides immediate medical coverage. This includes the need for the following services:

• Emergency care
• Compensation for death and/or permanent disability
• Transportation costs from the accident site to the medical facility

One key aspect here is that the value of this insurance is used to pay right away, no matter who is at fault. This applies to you, any other driver involved, and everyone else who got injured.

Apart from your presence of mind and sufficient fuel to get to the destination, SOAT is one thing that every Colombian rider may need. And remember, this is tied to the vehicle, not the driver. So, if you’re driving multiple vehicles, you need to get coverage for each of them.

If you’re ready to get it, be prepared with key documents, like your vehicle registration and your ID. Once you have those, you can get the SOAT insurance through any of the following ways:

• Through an online purchase. Many insurance providers let you buy online through their website or other digital platforms. The country’s financial institution also heavily supports an easy purchase process, so you can easily transfer money from your bank.
• In-person. Insurance agencies and brokers may also have a physical location. In this case, make sure to bring the original copy of any required document.
• Through fintech apps. You may be able to renew and pay using an app, just like how you’d transfer money to a different user.

What SOAT is going to cost you will differ based on different factors, like vehicle type, number of cylinders, and more. It is also only good for one year, so make sure to renew before it expires.

Not having an updated insurance is breaking the law. And as a consequence, you will be exposing yourself to the following:

Without this mandatory insurance, the conditions are heavily against you. It’s just easier and cheaper to comply. Having an expired SOAT is the same as not having one at all. It carries the same consequences too.

The importance of SOAT can’t be understated, especially in situations where a quick medical response can make a difference for the person being treated. That’s why the Colombian government forces compliance by imposing heavy penalties for those who don’t get one for their vehicle.

If you’re working as a driver, you should take this even more seriously. Spending more time on the road means there’s a higher chance of an accident. And since you need a car to earn, you can’t afford to have it immobilized. Making sure that you have this mandatory insurance protects you, your livelihood, and your peace of mind while working.