When we talk about a SOAP and vehicle insurance, we often receive the same question: Are they not the same? Reality tells us otherwise, although they belong to the same item, we are not talking about the same product. That is why in this post we will analyze the main differences between vehicle insurance and SOAP.
Insurance that will protect victims in the event of a traffic accident
Compulsory Personal Accident Insurance (SOAP) is, as its name says, insurance that will protect victims in the event of a traffic accident, whether it is injury or death. Vehicle passengers receive the same medical care, as they are backed by the policy that supports the vehicle.
The SOAP covers medical expenses (surgical, pharmaceutical and hospital), permanent disability, death, funeral expenses and transportation costs of the victims, all in different amounts. If you want to know the amounts that apply to the coverage, you can see them here .
In this way, SOAP is focused exclusively on the care of traffic accident victims
On the other hand, vehicle insurance is a policy that covers, in addition to passenger damage , the damage that has occurred to your vehicle. That is, it takes action in all types of accidents: robberies, fires and any other damage suffered by your vehicle, including total loss due to damage or theft. Can you imagine your car being stolen and the insurer will return the value of the car so you can buy another one? That’s what it’s all about, being protected first!
The coverage offered by vehicle insurance depends on the company and the price, since there are different categories. In the same way, the SOAP in Chile has similar prices in the different insurers but the difference is in the additional benefits that the insurers offer for you to choose (draws, discounts, etc.).
Products that complement each other
It is not that one replaces the other, but two products that complement each other for the protection of passengers and the vehicle, and both are necessary. SOAP protects those that matter to you and allows you to comply with the law, and private insurance protects your investment and prevents you from losing your vehicle.
By entering here you can compare the different SOAPs of different companies with the Ophelia SOAP comparator. And soon you can also compare the vehicle insurance offered by different insurers.