Colombia-2021. During June, according to a study carried out by the National Federation of Merchants (Fenalco), in Colombia there was an increase of 4.9% in cars sold compared to the same period in 2019. While, compared to last year, the growth was of 70.7%.
Due to the particularity of the context, many people consider it important to have mobility to avoid the spread of covid-19.
Some decide to change their car for a new 0km, but many others opt for a used one in better condition. If you are thinking of renewing yours, keep this information in mind when hiring your next auto insurance policy.
As reported by the digital broker 123Seguro, auto insurance policies are based on different parameters that insurance companies take into account.
The data requested to obtain a quote for the price of auto insurance are the following:
- Vehicle brand
- Year of elaboration
- Model version
- Vehicle accessories, such as CNG equipment or satellite tracking
- Date of birth (statistically age influences the value of insurance)
- Area of residence (the place where the vehicle is parked when you are not driving, also influences)
What to consider before selecting a new insurance
According to data from the Fenalco study, 111,000 new vehicles have been registered so far this year, which represents a decrease of 4.3% compared to 2019, the year in which more than 116,000 vehicles were registered. Likewise, in relation to the previous year, the increase was 53.5%.
While, according to the Single National Traffic Registry (RUNT), currently in Colombia the vehicle fleet is 16.4 million vehicles, of which 59% are motorcycles, 40% vehicles and 1% machinery.
In this context, the digital broker released a series of tips to take into account when selecting a new insurance policy for your car:
- If you already have insurance and want to change it for a new one, cancel your previous coverage in time to be able to make the change without paying additional.
- Compare the prices.
- Be a good driver. Remember that the more infractions you have in your name, the more harmed you could see yourself when you receive a quote.
- Choose a coverage that fits what you need by receiving advice. It is relevant to take into account all the extras that you could add to your insurance and their particular costs.
- Research current discounts and promotions, such as the benefits of paying in a single installment instead of in installments.