The cost of maintaining a vehicle includes car insurance as one of the most important expenses. We tell you how much they cost
According to dealer salespeople, every time a customer asks about a unit, whether it’s 0 km or used, the key query is how much the patent will cost me per month and how much car insurance is quoted .
Maintaining a vehicle in Argentina has become a problem for many families, since basic expenses such as patents, services and car insurance add up to a hefty monthly cost , to which must be added fuel, garage and washing, among others.
It is important to keep in mind that the expenses will depend on the type of vehicle , since according to its value, the patent valuations, mechanical attention and, especially, car insurance will be released.
On the other hand, when applying for car insurance, there are many variables that will modify the final price , such as the model of the vehicle, the type of use it will have and the place (it varies by province ) and the coverage that is chosen, among other factors.
The law establishes the hiring of civil liability insurance, better known as third-party insurance, and it is the one that provides coverage against physical and material damage caused to other people, transported or not, as a result of a traffic accident. Then there are intermediate options up to “all risk”.
We tell you the car insurance quotes according to the reference values of small, medium, and large cars or trucks in Argentina.
small car insurance
Car insurance: the smallest start at $3,600 for a third party.
If you are going to hire car insurance and do not want to spend, you can choose one of the cheapest, which only includes civil liability .
In this case, considering the cheapest 0km car on the market, which are both the Fiat Mobi and the Toyota Etios, with a value of $2,058,500 and $2,059,000 each, car insurance that only covers civil liability averages 2,400 pesos per month .
Now, in the case of choosing a third party basis , which includes theft, fire and total destruction of the unit, the value of car insurance with this average valuation rises to 3,600 pesos .
Continuing with the most complete insurance coverage for cars, always within the cheapest values of 0 km, a complete third for a car that averages $2 million, with added hail, glass, locks and wheels, rises to $4,600 ; while a full all risk, rises to $8,000 on average .
The calculations are for a 0 km vehicle based in the City of Buenos Aires, which may vary according to the insurer and place, although the key is the vehicle’s price .
Medium car insurance
Car insurance: a medium, above $4,000.
In the case of having a medium vehicle, those that were not reached by the internal tax have a price in Argentina of $3,400,000.
The rest exceed the average $4,000,000. Some models in this segment are the Chevrolet Cruze, Toyota Corolla, Nissan Sentra; and some SUVs from the most equipped guys like Jeep Renegade, Chevrolet Tracker, among others.
Taking these average values of $3.5 million as a reference, civil liability remains at $2,400 , while for a basic third party the price rises to 4,400 pesos.
In the case of choosing a complete third party , the value of car insurance amounts to approximately $6,400 , while the all-risk benefit can already reach up to 12,000 pesos.
Insurance for large cars or pick ups
Car insurance: pickups and SUVs, with higher cost.
In a step above in prices, large cars appear (there are few models, such as Toyota Camry) and in value they are matched with one of the best-selling vehicles in Argentina, which are medium trucks and medium SUVs.
The case of medium pick ups there are multiple versions: with automatic or manual gearbox; 4×2 or 4×4 drive; single cabin or double cabin.
In the case of choosing an intermediate version, whose value averages $6 million (double cabins start at $4,100,000 and go up to $8,000,000), as well as an intermediate SUV (Jeep Compass, Toyota RAV4), the values of the car insurance starts with Civil Liability coverage at $2,100 ; a third base at $5,200; a full third at $8,100 and an all risk that can reach 16,000 pesos.
It is key to keep in mind that car insurance will depend on the cost of the unit, so these prices are indicators of how much another model can cost, as long as it is quoted in the same parameter.
When defining the hiring of car insurance, it is important to get advice on what it covers and what it does not, because when using it, there may be surprises. In principle, Civil Liability does not have “fine print”. Damages that may be caused by the car to other people or their property (house, car, business, etc.) are covered.
Auto Insurance: From liability to lockouts, there’s plenty to choose from.
Another option that is one step higher is the third with theft, fire and total destruction , which in some cases can also be partial. You also have to check if it covers the theft of wheels; partial damage under cover of total theft; coverage of a percentage of the total value of the vehicle if it is stolen and then recovered with damage.
In the event of an accident, auto insurance coverage applies to the driver and occupants of the vehicle (up to the number of seat belts that the car originally comes with).
The insurance can also contemplate crystals , which must be checked. These can be sides, windows, windshield and roof glass (when applicable), as many times as necessary; Lock; Replacement and installation of the lock if it is forced or broken during an accident, as many times as necessary; And partial flood damage.
In case of contracting coverage with car insurance excess, the entire value that exceeds the excess is covered in case of partial damage to the car.
The deductible or deductible is the amount that the insured is responsible for each new event or damage that warrants repairing your vehicle. For example, if the cost of the arrangement is $45,000 and the deductible is $20,000, the coverage is for the remaining $25,000. Therefore, the higher the franchise, the lower the cost per month (you can choose the one you prefer).
Data to take into account
As we said, car insurance in Argentina is mandatory, including all types of vehicles, even coupled or semi-coupled.
In the event of an accident, the insurance automatically covers the affected person as long as the event occurs within the validity of the contracted insurance policy. However, this claim may not be filed more than two years after the accident.
Car insurance: today they can be contracted online.
As for compulsory car insurance against third parties. Annual extension is established and it does not cover damage to the vehicle itself. This coverage covers emergent damage, non-pecuniary damage and loss of profit caused to third parties and does not include material damage caused to the vehicle itself.
If I want extended coverage, I can contract 4 other types of coverage among car insurance:
- Covers damages caused to third parties.
- In addition to damages to third parties, it covers total theft, total fire and total destruction of the vehicle due to an accident.
- In addition to damages to third parties, it includes total and/or partial theft, total and/or partial fire and total destruction of the vehicle due to fire or accident.
- In addition to damages to third parties, it covers total and/or partial theft, total and/or partial fire and total and/or partial destruction (according to excess) of a vehicle due to fire or accident.
How to choose the best insurance
The most suitable coverage depends on several factors: where you usually drive your vehicle, how old it is, where you keep it, etc. The promoters of each company will advise you in this regard.
On the other hand, the law cannot oblige you to choose a particular insurer, because it would violate your freedom of choice as a consumer. Consequently, you can hire any entity that is authorized to operate in the field.
The papers that are needed to contract a compulsory insurance against third parties are:
- Prove identity and demonstrate possession of the vehicle with DNI, green card and vehicle title. You must also prove your address, through a service or tax in your name.
- Before extending the policy, the company will require compliance with the mandatory technical review or carry out an inspection of the vehicle to ensure that it is in regulatory safety conditions in the event that you have not done that technical review the previous year.
- Once the data has been accredited and the forms completed, read all the clauses of the contract carefully and sign the documentation. Check that the contract and policy data match.
In exchange, the insurer will deliver a copy of the contract and the policy, which must always be in the glove compartment of the car.
Car insurance payment
Auto insurance is paid a month in advance and the payment date runs from the same day it is contracted. Assuming it does on the 15th, your payment due date will probably be the same day. If you did not pay on time, you will not have any coverage, that is why it is essential that car insurance is up to date.
Auto insurance is a contract between two parties: the insurer and the insured. By this contract, the company is obliged to assume a payment commitment in the event of any eventuality that occurs and the person is obliged to pay the fee within the term agreed by the insurer.
Car insurance: in the event of a crash, you have to ask for the data.
It is important to be informed about car insurance coverage and also about what to do in case of a traffic accident.
You have to go through such a situation. You should know that all participants in a traffic accident are required by law to:
- stop immediately;
- Provide the data of your driver’s license and compulsory insurance to the other party and to the intervening authority (If these are not present, you must attach these data by effectively adhering them to the damaged vehicle);
- Report the fact to the authority;
- Appear and testify before the court when summoned.
For their part, the authorities are obliged to organize an emergency. Assistance system, providing, requiring and coordinating the necessary assistance through means of communication, transportation and assistance.
On the other hand, in the event of an accident, if you are the owner of the vehicle, you are always responsible if there are damages to third parties even if you were not driving, and any type of car insurance must respond.
Another important topic when talking about car insurance is knowing what to do if the crash is against a vehicle that did not have insurance. In this case it is important to act quickly. Some suggestions:
- Make the police report within 48 hours of the event.
- If you know where the vehicle whose driver hit you was insured, go to the company to take the accident report. If they answer that the payment is not due due to lack of coverage, that written response will serve as evidence for a possible lawsuit against that person.
- Send a document letter to the person who hit you, instructing him to repair the damage caused, under penalty of initiating legal action.
- If you do not obtain a satisfactory response to the summons, you can initiate a civil lawsuit, demanding compensation for damages.
In the event that the person who hit one does not stop, you should try to visualize the license plate of the vehicle that hit you. With the patent number, you can start the process, request a report on the ownership of the vehicle and thus know the name of the owner of the vehicle and initiate legal action with the corresponding auto insurance.
The same procedure can also be done expressly: Request a report on the automotive domain urgently and from there request assistance from car insurance.