Car insurance has new rules to get cheaper

You Car insurance in Brazil should be cheap. At least that’s what the Superintendent of Private Insurance (SUSEP) offers, which published new rules and norms to facilitate these actions (and which became effective this September). Due to changes in law, insurers can sell plans with coverage or partial indemnity as well as customized options for customers.

Although the agency does not indicate an expectation of an increase in membership, it does state that only 16% of fleets in the country had insurance coverage in 2019 – compared to 80% in the United States, for example. Taking into account vehicles up to ten years, the index rises by 33%. But Susep says that, in the first half of this year, more than 17 million reais was collected in premiums (6.8% more than in 2020).

With the new rules, Interested parties will be able to contract insurance without the exact identification of the vehicle, thereby opening up the possibility of coverage for application drivers and shared, rented or subscription cars. For example, it would also be possible to choose specific coverage such as headlights and windows only. In order to make the prices cheaper, it would also be possible to define partial compensation for the total loss.

With regard to privatization, New circular makes contract of civil liability coverage (known as third-party insurance) optionalAlso helps. On the other hand, there is also the possibility of packages with mandatory maintenance in the referencing network of the insurance company, as well as the use of used parts and components – previously valid for Seguro Popular – certified.

Finally, It will be possible to combine different types of coverage like theft, robbery, collision and fire. But the changes in the law also provide to do away with the prohibition of deductible charges for force majeure damages such as fire, lightning strike, explosion.