Here’s how to validate if your vehicle has a 50% discount on Soat

Here’s how to validate if your vehicle has a 50% discount on Soat

The price of Soat insurance has increased by 11.7 percent since January of this year. According to Article 42 of the National Traffic Act, the SOAT must be processed by every person who owns a vehicle and must be renewed every year and pedestrians, passengers or drivers are insured in the event of an accident or physical damage.

However from the 17.6 million of the vehicles in Colombia, only 9.3 million have the Soataccording to Deiby Vargas, an insurance analyst at the Sura company.

Also Read: Motorcycle Soat sales grow 104% since the rebate came into effect

Similarly, 6.4 million of the total number of motorcycles do not have a Soat, these are the ones with the most accidents.

In order to facilitate the obtaining of the mandatory document, the government has issued Decree 2497 of 2022 in which it establishes a 50% discount to certain vehicles so that they receive the compulsory insurance. These are:

– Taxiing
– Buses and shuttle buses
– Motorcars 5 passengers
– Motorcycles, tricycles and quadricycles
– Urban minibuses for public service
– Motorcycles with a cylinder capacity equal to or less than 200 cc
– Minibuses of the intermunicipal public service

The category code on the property card allows drivers to validate whether the discount set by the government applies to their vehicle. These are the beneficiaries of the discount:

– 100
– 110
– 120
– 150

Source: El heraldo