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The Financial Superintendency announced that the rate for the mandatory traffic accident insurance, SOAT, will have a reduction of the 0.98% by 2021.
The reduction comes due to the low circulation of vehicles in the first half of the year and the measures that were imposed by the COVID-19 coronavirus pandemic.
Luis Felipe Lota, director of the National Road Safety Agency, spoke about the reduction in the value of SOAT: “Between January 1 and November 30, 2020, 4,700 people lost their lives in road accidents, 1,795 less than in 2019”.
With the announcement, the owners of a new family vehicle with an engine between 1,500 cubic centimeters and 2,500 will go from paying 8.85 daily minimum wages (258,900) of SOAT to tax 8.77 daily minimum wages.
Since the minimum wage will rise 3.5% by 2021, the value of the insurance would be 265,542 pesos, without including the charges made by the Runt and the National Government for the Integral Social Security system.
Several drivers assured that the reduction is very short and that it is not in line with the economic crisis that caused the COVID-19 coronavirus pandemic. Others celebrated the price cut.
“The truth it seems very little to meWell, the expenses this year have been enough and the SOAT at this moment is too high. It is a price that must be analyzed well, ”said Jorge Bautista, a motorcyclist.
“It’s very cool, I like very much and even more so after the terrible situation we are experiencing due to the pandemic ”, said Rosalba Guzmán, the host.
It is important to emphasize that this adjustment in the SOAT rate does not modify the coverage or the amounts defined by law for compulsory insurance, that is, medical, surgical, pharmaceutical and hospital expenses continue to be up to 800 daily minimum wages.
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