Whenever you get behind the wheel of a car in Costa Rica, you are legally obligated to have minimum automobile insurance coverage. This coverage is required by law and it protects both you and other drivers on the road. What is the mandatory car insurance in Costa Rica? And what are the requirements? Let’s take a look.
What is the mandatory car insurance in Costa Rica?
In Costa Rica, drivers must carry mandatory car insurance in order to legally operate a vehicle on the road. The minimum coverage required is $10,000 per person, $30,000 per accident, and $5,000 for property damage. In addition to this basic requirement, each driver must also purchase an additional liability insurance policy that covers them for any damages they may cause to others while driving.
What is covered under the mandatory car insurance in Costa Rica?
In Costa Rica, mandatory car insurance is required for all drivers. The minimum coverage level is $50,000 per person, with a $100,000 total limit. In addition, you must also have liability insurance for the vehicle you are driving. This coverage will cover any legal costs and/or damages that may be caused to other drivers or pedestrians while you are driving your car.
Who is required to have the mandatory car insurance in Costa Rica?
In Costa Rica, all drivers are required to maintain mandatory car insurance. The minimum requirement is $10,000 in liability insurance per Individuals, $50,000 in liability insurance per Motorcycle and Motor Vehicle Association (AMVIC), and $20,000 in property damage liability insurance. These coverage amounts are subject to change, so be sure to verify the specific requirements for your state or province.
If you do not have the mandatory car insurance in Costa Rica, you will be fined between COP$5,000-COP$25,000. If you have an accident that causes serious injuries or death, you may also be subject to jail time and a fine. Make sure you have the proper coverage before hitting the road in Costa Rica!
How much does the mandatory car insurance cost in Costa Rica?
Costa Rica has mandatory car insurance, meaning that all drivers are required to have coverage. This policy is mandatory for all drivers, regardless of the vehicle they drive. The cost of this policy will depend on the type of vehicle you drive and your location in Costa Rica.
The Costcosa car insurance quote tool can help you estimate your monthly car insurance bill in Costa Rica. The quote tool uses data from rates from major insurers in Costa Rica to estimate your monthly premium cost. The table below shows the average cost of car insurance in different areas of Costa Rica:
Area Average Monthly Premium Cost Pacific Coast $210 Guápiles $176 Central Valley $204 San José $243 Northern Valley $221
Your premium may be higher or lower depending on your location and the type of vehicle you drive. The Costcosa quote tool can help you get a ballpark estimate of your monthly car insurance bill in Costa Rica.
What if I don’t have the mandatory car insurance in Costa Rica?
If you do not have the mandatory car insurance in Costa Rica, you may be subject to fines and/or jail time. In general, the laws of Costa Rica state that everyone must have a minimum level of car insurance in order to drive on the roads. If you are found without this insurance, you could be fined anywhere from $100-$1,000 or face up to six months in prison.
Conclusion
If you are a driver in Costa Rica, you should be aware of the mandatory car insurance that applies to all drivers. This type of insurance protects the owner of a vehicle from financial losses if someone is injured or killed as a result of the driver’s negligence. In order to qualify for this type of coverage, you will need to carry proof of liability insurance and your vehicle must meet certain safety requirements. If you have any questions about whether or not your vehicle meets these requirements, speak with your insurance agent.
