In the country, upon canceling the Right of Circulation or Marchamo you automatically acquire Compulsory Automobile Insurance (SOA), which aims to insure people who are injured after a traffic accident. It protects both drivers, passengers and pedestrians. That is, it is insurance that contributes to saving lives.

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The SOA is established in Traffic Law Number 9078 and contemplates a series of advantages for those who require it.

What does SOA cover?

• Medical, surgical, hospital, pharmaceutical and rehabilitation assistance.
• Prostheses and medical devices.
• Compensation for temporary or permanent disability or death, according to the Traffic Law.
• Transfer expenses as established by law.
• Lodging and food payments when the injured person must go to a place outside their residence to rehabilitate.
• Costs of the funeral and transportation of the body, according to legal regulations.

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It is important to know that the SOA covers up to six million colones; Therefore, said amount is exhausted when the benefits provided to the affected person exceed that cost.

Step by step to activate it

The way to make this insurance effective is through a simple procedure. The first thing is to inform the insurer about the traffic accident, which must be done within ten business days after the accident occurred.

SOA coverage will be provided by the doctors of the insurers that offer this product, or by those that the victim hires as an injured person and even by the Costa Rican Social Security Fund (CCSS) if it provides the care.

If at the time of declaring the accident or processing the claim, information is hidden, false data is provided, as well as any act, circumstance, attempted fraud or false testimony, the SOA will be void when determined by the judicial authority.

(arda savasciogullari/Shutterstock)

Who establishes the SOA?

Premium rates will be determined by each of the insurers that market this product and must be authorized by the General Insurance Superintendence (Sugese). Like any other insurance, it is subject to maximum coverage amounts.

It is necessary to know that…

There are big differences between Mandatory Automobile Insurance (SOA), which is paid each year with the Marchamo payment, and voluntary vehicle insurance that can be purchased on your own with the insurance company of the insured’s choice.

Another important difference is that the SOA covers people, not material goods. On the other hand, voluntary vehicle insurance, in addition to providing coverage to people, also protects material assets.

For

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2023-12-14 06:09:56
#SOA #insurance #difference #accident