What is behind the compulsory insurance for foreigners traveling by car to Chile?
Road traffic poses for many reasons a social hazard, so it is acceptable for policies to be implemented in each country road safety that imposecertain mandatory measures, such as example hiring auto insurance such as Compulsory Personal Accident Insurance Caused by Motor Vehicles with Foreign License Plates or SOAPEX
Making it mandatory to purchase an automobile insurance policy is to fulfill the social function of protecting victims of road accidents, who are mostly vulnerable users as is the case of foreigners who want to travel by car to Chile
What are the objectives of compulsory insurance for foreigners traveling by car to Chile?
The goal of compulsory insurance such as SOAPEX is to provide safety to people, seeking to preserve their lives, maintain their health and protect the integrity of their assets.
Compulsory insurance is also complemented by the efficiency of public health systems, because they provide a safer and more reliable environment by relying on the fact that procurement is based on a comprehensive overhaul of the conditions of the car and the user.
Chile is among the countries in Latin America with the highest automotive circulation, and also has a traffic accident rate that reports more than 40,000 injured annually. This has led to the introduction in Chilean legislation of the mandatory insurance for foreigners seeking to travel by car to Chile
Mandatory insurance for foreigners travelling by car to Chile
The SOAPEX is a compulsory liability insurance for road traffic that came into force in 2013, projecting that it will help reduce the economic resources allocated by the State to meet the high number of deaths and injuries that occur annually on Chilean streets and roads.
This goal of reducing consequences from road accidents has been ennamed Vision Zero. This is part of one of the axes of a policy of road safety aimed at protecting victims.
Under this road safety policy axis, it is also envisaged that as long as this goal is achieved, it is necessary to adequately address the consequences of these road accidents.
Hence SOAPEX was created in Chile in order to achieve this Zero Vision, considering itself essential for victims of road traffic accidents to receive a speedy and effective compensation in exchange for an affordable cost.
What are the characteristics of compulsory insurance for foreigners traveling by car to Chile?
These insurances work at maximum limits and are independent of the degree of guilt of the person responsible for the road accident, having liability coverage for third parties who go or not inside the vehicle, even in some cases they may cover property damage caused during the accident. These coverages also include medical expenses with a limit under the law.
Chilean legislation has provided with this provision to ensure coverage of a minimum risk, and has therefore been extended to foreigners arriving in Chile in particular order.
In Chile, there are no want to have uninsured vehicles or vehicles circulating with expired policies, and much less that drivers abandon victims of damage that their vehicle may have caused.
In view of the desire to focus attention on the victim this compulsory insurance does not provide for the payment of compensation determining the culpability or victim status of the user. It is sufficient to prove the occurrence of the accident so that the insurance company insels the victim in correspondence with medical and hospital expenses.
In short, this compulsory insurance provides coverage for risk of death, disabling and non-disabling injuries suffered by anyone affected during an accident where the insured car is involved.
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