Since the beginning of September, new rules have been in force for contracting automotive insurance throughout Brazil. And the good news is that these new rules can help lower the price of your car insurance.
It is a set of new rules and modalities established by SUSEP (Superintendency of Private Insurance) in circular number 639, published on August 13 in the Official Gazette of the Union.
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The purpose of the changes is to simplify the insurance contracting process, which may reduce the policy value according to the services chosen by the client. However, neither Susep nor Fenseg (National Federation of General Insurance) estimate how much customers will be able to save.
The new rules allow a true relaxation of insurance policies. It is now possible to further customize the services offered, making each contract more suited to the needs of each consumer. The goal this change is to increase the adhesion of circulating vehicles that are still uninsured.
It is currently estimated that 49.1 million cars circulating in Brazil are uninsured. This number corresponds to about 67% of our fleet with up to ten years of manufacture.
One of the main changes is that the insurance may be linked to the driver, not the car. Thus, every car that the insured drives will be covered by the policy. And it would work as with any hiring of streaming (Netflix) or even electronic toll payment (Sem Parar).
The contracting party sets a premium value in the price range of the vehicles it usually uses. This change can benefit app drivers as well as people who tend to rent vehicles. Coverage for damages caused to third parties is also valid when the protection is linked to the driver, and therefore can also be used for rented vehicles.
Another novelty is the authorization to market damage coverage (hull) covering different risks, allowing partial coverage. For example, the policy may only cover the front of the vehicle, mirrors and windows, not the entire car.
The customer too you can choose separately the coverage risk you want to contract: robbery/theft, collision, fire, among others. Until today, all these coverages were offered in a package.
In case of total loss, the consumer may establish a partial value to be indemnified, that is, different from the full value of the vehicle. In practice, he can contract an indemnity of 70% of the value of the property, for example. And that would undoubtedly be a good mechanism to substantially reduce the value of insurance.
The new rules also allow the use of used parts (provided that the technical requirements present in Contran are observed). New parts, original or not, national or imported, must meet the manufacturer’s technical specifications.
The intention of the changes is to provide more autonomy to the consumer and make auto insurance more accessible and beneficial to everyone. However, experts are cautiously seeing the benefits of this flexibility.
According to Dorival de Sousa, vice president of Fenacor (National Federation of Insurance Brokers), the measures may lead consumers to misinterpret what was contracted and give rise to a considerable increase in lawsuits between insurers and customers.
“The contracting party can adopt, for example, only coverage against fire and not collision coverage, but if an accident occurs that causes the fire, the insurer can claim that it will not cover it”, says Souza.
The executive also claims that he understands that the objective is to reduce the cost, but that partial insurance is not necessarily the best for the consumer. “Maybe offering policies for a specific period of time or for a specific situation is the best alternative to reduce the cost of automotive insurance in Brazil.”
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