Main Insurance and Policies Offered in Colombia in 2024

Insurance and policies in Colombia

In the dynamic world of insurance in Colombia, the variety of options available to protect yourself, your family and your assets has grown considerably.

In 2024, insurance and policies have evolved to offer a wide range of coverages that adapt to the changing needs of consumers.

This article explores the main insurances and policies offered in Colombia, with a focus on those that are most relevant for people between 30 and 65 years of age.

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Health Insurance

What is Health Insurance?

Health insurance is a contract between the insured and an insurance company that covers medical, hospital and drug expenses.

This type of insurance is essential to protect against the unexpected costs of illness and accidents.

Benefits and Coverage

Health insurance in Colombia generally provides coverage for medical consultations, hospitalization, surgeries, medications and specialized treatments.

Some policies also include additional benefits such as dental care and wellness services.

Costs and Suppliers

The cost of health insurance varies depending on the coverage and the insurer.

Companies such as Sura, Colsanitas and Coomeva are some of the main suppliers in the country.

Prices can range from COP 100,000 per month to several million, depending on the plan chosen.

Life Insurance

What is Life Insurance?

Life insurance is a contract that guarantees a payment to the insured’s beneficiaries in the event of his or her death.

This insurance provides financial peace of mind to families and is essential for estate planning.

Types of Life Insurance

  • Term Life Insurance: Provides coverage for a specific period of time.
  • Permanent Life Insurance: Provides lifetime coverage and may include a savings component.

Benefits and Coverage

The coverage includes a sum insured that is paid to the beneficiaries.

Some life insurance policies may also include additional benefits such as advances for critical illness and waivers of premiums in the event of disability.

Costs and Suppliers

The cost of life insurance depends on factors such as age, health status and amount of coverage.

Insurers such as Allianz, MetLife and Mapfre offer various options in the Colombian market.

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Travel Insurance

What is Travel Insurance?

Travel insurance provides coverage during travel, both domestic and international.

Covers aspects such as trip cancellation, lost luggage and medical expenses abroad.

Benefits and Coverage

This insurance can cover medical emergencies, repatriation, legal assistance, and baggage problems.

It is especially useful for frequent travelers and those traveling for work or pleasure.

Costs and Suppliers

The cost varies according to the duration of the trip and the destination. Insurers such as Assist Card, AXA and World Nomads are known for offering comprehensive travel insurance. Prices can range from COP 50,000 to COP 500,000 per trip, depending on the coverage.

Third Party Insurance

What is Third Party Insurance?

Third party insurance is mandatory for vehicle owners in Colombia and covers damages to third parties in case of an accident.

It does not cover damage to the insured’s own vehicle.

Benefits and Coverage

Covers third party property damage, bodily injury and, in some cases, legal expenses.

It is essential to protect against financial liabilities arising from traffic accidents.

Costs and Suppliers

The cost of third party insurance depends on the type of vehicle and its use.

Companies such as Liberty Seguros, HDI Seguros and Seguros Bolivar are some of the options in the market.

Prices tend to be more affordable, with annual premiums varying according to vehicle and driver history.

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Lease Insurance

What is Lease Insurance?

Lease insurance protects owners of rented property against non-payment of rent and possible damage to the property.

It is a crucial tool for homeowners and commercial property owners.

Benefits and Coverage

Covers the payment of rents in case of default by the lessee, as well as damages to the leased property.

Some policies also include legal assistance for the eviction process.

Costs and Suppliers

The cost varies according to the rental value and the location of the property.

Insurers such as Seguros Mundial, Sura and El Libertador offer these policies.

Prices can be between 1% and 5% of the monthly lease value.


Insurance and policies in Colombia have evolved to adapt to the specific needs of consumers, especially those in the 30 to 65 age range.

From health and life insurance to travel and lease insurance, there is a wide range of options available to protect against various risks.

It is important to compare the different options and choose the one that best suits your needs and budget.