Insurance in Costa Rica: Everything You Need to Know About Home, Auto, Liability & Medical Coverage

[@jimmyyong2257]

Very good information thanks

[@CostaRicaLaw]

Thank you for taking the time to watch the video and commenting.

[@mares3841]

Thank you.

[@CostaRicaLaw]

Thank you or watching

[@febsign6110]

That was great info Roger and this is why I like to get residency so I can get onto a medical plan. Question I have is if a non resident buys a car could he get auto coverage ? Thanks

[@CostaRicaLaw]

Hi Thank you for your feedback. That is a great question about auto insurance for non-residents. I just ran the question by Juan the insurance agent and he indicates that on auto insurance you do not need to have residency. You can insure the vehicle with your passport information.

[@AllenCohen-j6d]

Thanks for the excellent and concise discussion. One question I have for you or Juan is this: in the U.s., when one submits a substantial claim under auto insurance or home insurance, it's typical to see an increase in rates for subsequent years because the covered party is now considered a higher risk. Is that the case in C.R.?

[@CostaRicaLaw]

Hi and thank you for watching. That is a great question so I had to reach out to Juan for the answer. He indicates that it works similar in Costa Rica. That the more claims you make on the policy then they will raise the premiums for you. Here is his exact response for you " It depends on the amount compensated for the event compared to what you have paid in premiums since you became a customer, whether your premium increases or not."

[@AllenCohen-j6d]

@@CostaRicaLaw Thanks for following up. That makes perfect sense. Anything else would be surprising because without a penalty, bad drivers would have little motivation to drive better.

[@puravida5683]

I've owned a beachfront property in Guanacaste for 16 years. Without homeowners insurance. Instead, I merely created a self administered fund to cover repairs, appliances etc. And, eliminated the middle man. Anyone who has ever initiated a insurance claim, will have a shocking experience.

[@CostaRicaLaw]

Thank you for sharing your approach about going without insurance and creating your own fund.