The interest of Peruvians in finding insurance for used vehicles increased almost 8 times in the last year, according to a report by Quálitas.
And it is that between January and April of last year there were 699 average searches per month about the used car policy, which increased to 3,004 for the four-month period from May to August 2021. Meanwhile, for the period from September 2021 to February 2022, the monthly demand for this insurance product rose to 5,411.
Rodolfo Garciageneral manager of Quálitas, explained that the trend is leaning towards used vehicles, because there is little stock of new cars due to logistical problems to bring units to different countries.
“Many people used to change their vehicles every few years. But right now some are still out of mistrust in the political and economic environment they decide not to. And those who do decide to do so cannot find the unit they want because there is a low stock; this makes one have to retain the used vehicle and the need to insure it begins, ”he explained.
He added that in Peru around 23% to 25% of vehicles have insurance; therefore, they see used cars as a potential opportunity to broaden the base.
General interest
A general level, Lima concentrates almost 70% of the demand for vehicle insurance. García explained that this is due to the importance of the city, as it is the capital and concentrates a greater number of vehicles than the rest of the cities.
In detail, in the districts of Surco, La Molina and San Isidro the greatest interest in insurance policies is registered, representing 8.9%, 8.5% and 8%, respectively. Followed by San Borja, Miraflores, Lince, San Martín de Porres and Los Olivos.
Meanwhile, at the regional level, although with a lower percentage, the second city with the greatest interest in these products is Arequipa, representing 4.5% of national demand. Followed by Piura, Trujillo, Huancayo and Ica.
Post-pandemic trend
The Executive He explained that with the first restrictions of the pandemic, the demand was reduced due to “believing that insurance is not needed”, due to the lower use of these due to the quarantine. The trend that with the release of activities was increasing. Thus, in 2021 the sector grew compared to 2020, but has not yet reached pre-pandemic levels.
Also, another trend since the arrival of the COVID-19 was related to the increase in delivery service in both businesses and supermarkets. “Many motorcycles came to the market to meet the demand of customers who did not want to leave their homes,” she said.
Most contracted insurance
The most contracted vehicle insurance is for light units 0 km, pick-ups and trucks. However, new unit sales are expected to decline in 2022 with fewer vehicles sold than the previous year, which will make it possible to boost the pre-owned market, according to a report by the Quálitas company.
Source: Larepublica
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
