Costa Rica Insurance Market
Have you felt an "urge" to get insured?
Most of our clients in the PASS service get voluntary coverage, some say it is cheaper than back home and some say more expensive.
The following information is basic information on the mandatory and voluntary insurance in Costa Rica. What they cover and some information about costs.
Insurance Market Overview: Characteristics and Companies; SUGESE, State Owned versus Private
When we started our service way back in 2006, the state owned INS was a monopoly in Costa Rica. After the approval of the CAFTA in the 2007 referendum, the insurance market was opened to other companies in 2008. Now there are 5 other companies that compete in the market for auto insurance. ASSA, LAFISE, Qualitas, MAPFRE, and MNK (formerly Oceánica).
The INS (National Insurance Institute) has adapted to the open market very well, maintaining its leadership and competitive advantages in many segments. But in the last 5 years the other insurance providers have become stronger. All providers are regulated by the SUGESE (Insurance Supervisory Board), who approves each individual policy and establishes overall rules.
In general consumers are well protected, policies can be more expensive than in some other countries, but also they are well balanced and insurance companies can’t avoid paying claims because of some fine print slipped into the policy.
All of the companies have networks of providers for auto insurance claims, so usually it is just a matter of finding the closest authorized body shop and having the claim processed by them. The INS still has offices in more areas and the most robust network of providers, but all the companies offer coverage nationwide and their inspectors will attend accidents in even the most remote areas.
Obligatory -- The Marchamo
The annual property tax and obligatory insurance is paid every December. On cars being registered for the first time in Costa Rica it is paid on a prorated basis when the car is imported. If you purchase a vehicle that already has a license plate, then the marchamo should be valid (the sticker and marchamo document).
The insurance covers a minimum amount of liability (close to $13,000 in 2026) for injuries people suffer if your vehicle is in an accident, regardless of who the driver is and whether or not the driver is at fault. They may be occupants of your auto, another vehicle, or pedestrians.
The marchamo is adjusted every year, keep in mind that the actual insurance portion is only about 17%, the rest is taxes and fees. It is charged based on the fiscal value of the vehicle. Lower value vehicles will pay less than $150, while most SUVs would pay $250 – $400. Super luxury vehicles and brand new ones may pay over $1000.
Liability Coverages
These are the first tier coverages, required before you take any other voluntary coverages.
- Medical Liability – Injuries or Death paid on damages established by the courts
- Property Damage Liability – damage to property owned by others.
- Medical for Occupants – injuries to family members and/or occupants of the vehicle, depending on the provider
Additional Coverages -- Click the Icon to Open a Topic
Passengers Plus Medical
medical care for all occupants of the vehicle for any event related to coverages on damage to your vehicle, it can be used at private hospitals or clinics; it may include funeral expenses
Collision
damage to your vehicle if the accident is your fault or the driver at fault is uninsured
Theft
the insured value of the vehicle is paid, or damages to car if recovered;
Additional Risks
natural disasters, vandalism, others.
Legal Fees
attorney fees for court cases related to accidents, theft or disasters
Personal Objects -
only in conjunction with claims on accidents, theft or disasters
Replacement Vehicle / Transportation
covers a rental car while repairs are made to your vehicle
Assistance on the Road
You get roadside assistance 24/7 anywhere in Costa Rica. This will cover your car not starting, running out of gas, a flat tire and a tow truck. The vehicle must be less than 20 years old though. Some premium plans extend the number of times the assistance can be offered within the year.
Main Categories on the Web Site
Buying a Used Car in Costa Rica
Visit here for detailed information on the Used Cars PASS Service, or use our form to Contact Us For More Information
Getting a New Vehicle
You can get help buying a new truck or SUV also, click here New Car Pass Service
Or read the article What Car to Buy and Dealer Procedures for more information on buying a new car in Costa Rica.
Information on Vehicles in Costa Rica
Would you just like to get information on issues like taxes, popular models and driving in Costa Rica?
Visit this Section — General Costa Rica Automotive Info
Testimonials
See what our past clients have written — Testimonials
Ask a Question or Get an Appointment
Pricing and Payment: What are Costs and Forms of Payment
For budgeting, the insurance premiums generally come in at between $60 and $120 per month. Most of our clients pay annually, since you save money that way. The companies charge a small fee for each additional payment you schedule, quarterly or semi-annually for example.
While the value of the vehicle is a factor, newer cars get lower rates. So often the rates are similar even though there is a big difference in the value of the vehicle. There are special rates for new cars and electric cars.
It’s good to pay by credit or debit card, since the brokerage will keep your card on file and you can renew by email. But you may also pay by local bank transfer, if you have an account in Costa Rica.
Coverages -- The Vehicle is Covered Regardless of Driver
In Costa Rica, the insurance will cover the vehicle itself, as opposed insuring a specific driver for that vehicle. It doesn’t matter who drives the car, as long as they have a driver’s license, and are not driving under the influence (DUI). Actually, policies are often quoted with DUI coverage included – just that it extends only to liability and not damage to your car.
Coverage | Insurance Amount | Premium 6 Months |
| Coverage A: Civil Liability for injury and/or death of persons outside the vehicle. | Limit per Person: ¢ 100,000,000 Limit per Accident: ¢ 200,000,000 | ¢ 16,891 |
| Coverage P: Family Medical Plus | ¢ 10,000,000 | ¢ 21,410 |
| Coverage C: Civil Liability for property damage. | ¢ 80,000,000 | ¢ 21,258 |
| Coverage D: Collision and/or rollover. | ¢ 11,200,000 | ¢ 210,745 |
| Coverage F: Theft and/or assault. | ¢ 11,200,000 | ¢ 9,653 |
| Coverage H: Additional Risks. | ¢ 11,200,000 | ¢ 4,141 |
| Coverage E: Legal Fees | ¢ 20,000,000 | ¢ 7,700 |
| Coverage K: Alternate Transport (10 days for car rental while your car is in the body shop) | No fixed limit on coverage, since it is a coverage on services. | ¢ 32,949 |
| Coverage M: Roadside Assistance | No fixed limit on coverage, since it is a coverage on services. | ¢ 6,820 |
| Coverage N: Deducible Exemption. | Applicable on coverage: C | ¢ 7,675 |
| VAT: Value Added Tax | 13% | ¢ 42,953 |
| Discount for no claims history | Experience Factor Discount | – 45% |
| Total Premium 6 months | ¢ 391,475 |
- Account statement showing the withdrawal.
- Withdrawal slip from your bank.
- A printout of a screenshot from your bank log in screen that states your name. The account balance isn’t needed. If you can also provide a screenshot of the transaction for the specific withdrawal that is good.