Thursday, 26 November 2020
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Have you paid yours yet? 2.4% of vehicle owners have already paid their Marchamo

QCOSTARICA - According to the Instituto Nacional de Seguros (INS), in charge of collecing the annual circular permit, the Marchamo, only 2.4% of the owners of vehicles paid theirs during the first week of collection. The INS press office said that up to Monday, October...

2021 Marchamo collection is on!

QCOSTARICA - At 2:00 pm this Monday, the owners of more than 2.5 million registered vehicles were able to consult and pay the 2021 Marchamo, however, in the first hours of service, the system faced instability due to excess of users. The Instituto Nacional de...

Ministry of Finance publishes update of list of tax value of vehicles

QCOSTARICA - The Ministerio de Hacienda (Ministry of Finance) published the updated list of the tax value of vehicles used in the calculation of the collection of the 2021 Marchamo. The list was published in 5 documents in the official newsletter La Gaceta. The changes approved...

Hacienda and INS run to apply reduction in 2021 Marchamo

QCOSTARICA - The Ministerio de Hacienda (Treasury) is in the process of updating the information that allows the reduction in the payment of the 2021 Marchamo, for those vehicles that do not exceed the value of ¢15 million colones, and that the INS can...

Mandatorry vehicle insurance (SOA) will drop 6.1% on average

QCOSTARICA - The mandatory vehicle insurance - Seguro Obligatorio de los Vehículos (SOA), one of the components that are part of the Marchamo, will have an average reduction of 6.1% for 2021. The General Superintendency of Insurance (Sugese) confirmed the reduction this Tuesday, based on...

Yes, it was possible! INS now offers tourists low rate travel insurance

(QCOSTARICA) After a week of criticism from many sectors, State insurer, the Instituto Nacional de Seguros (INS), announced this Friday the new rates that will govern travel insurance for international tourists visiting the country. The rate is calculated on the age of the traveler and...

MEIC validated foreign travel insurance for first reopening flight passengers

(QCOSTARICA) The Ministry of Economy, Industry and Commerce (MEIC) authorized the use of travel policies, issued by international insurers, on the first reopening flight of Juan Santamaría International Airport, despite the fact that a government decree has not yet authorized them. La Nacion reports that...

Expensive insurance policy and COVID-19 test increase the cost of traveling to Costa Rica

(QCOSTARICA) Costa Rica has become a much more expensive destination for foreign tourists starting August 1, when the country reopens its air borders. The cost of travel to Costa Rica has become more expensive due to the requirement that international tourists, starting this Saturday, must...

INS Will Cover Covid-19 Patients Infected On The Job

One of the concerns of many, voiced on social networks and water coolers around the country, is what happens if the get the virus, the coronavirus covid-19, while at work. The Instituto Nacional de Seguros (INS) - the state insurer - has stated salaried employees...

INS launches preventive campaign aimed at motorcyclists

Under the name "Prevention is not fashion, it is a way of life" (La prevención no es moda, es una forma de vivir), together with the State insurer, the Instituto Nacional de Seguros (INS), the Costa Rican Social Security Fund - the Caja -...

A Costly Practice!

Rico's TICO BULL - Vehicle owners who usually pay for Marchamo (annual circulation permit) well in advance usually remove the sticker from the current year for the new one. Recently, the Policia de Transito (Traffic Police) confirmed that doing so, you may be exposed to...

It’s Marchamo Time!

The mandatory Marchamo - annual vehicular circulation permit - for 2020 for the 1,560,343 registered vehicles in the country is now available for purchase. And keeping with tradition, the cost is higher over last year. The Superintendencia General de Seguros (Sugese) - General Superintendence of Insurance...

Fire claims see growth in Costa Rica

Claims on fire policies in Costa Rica jumped 77% to ¢27.7 billion colones (US$45.8 million dollars) in 2018, despite premiums in fire and associated lines decreasing 2.8%, according to insuraance regulator Superintendencia General de Seguros (Sugese). Sugese reported written premiums for all general insurance lines...

Why does INS have a policy for drunk drivers?

Rico's TICO BULL - Yes, the State insurer, the Instituto Nacional de Seguros (INS), has an insurance product for its customers (insured) who drive under the influence of alcohol - that is drive drunk. The produce, called “extra prima del 20%”, is an insurance policy...

A Brand New Rig Pays Only ¢44,702 in Marchamo. Not Fake. For Real.

Rico's TICO BULL - This may come as a shock to some of you, but not to us who have been in Costa Rica for the long-term and have seen it all. Nothing much can surprise us anymore. It's Marchamo time. A bit late this...

Marchamo, Cash or Zero Interest Financing, What Is The Best?

For some the 2019 Marchamo is a small amount, less than ¢100,000 colones, whiel for others it top ¢500,000, ¢1,000,000 or a lot more. Yes, the amount is relative, yet the decision to finance or use cash can be the same. Every year, by not...

2019 Marchamo On Sale Starting Today!

Updated (3:35 pm) the link to the Marchamo consulting page. Owners of more than 2.5 million vehicles can, starting today, at 7:00 am, check the amount owed on the 2019 Marchamo and make payment. The Instituto Nacional de Seguros (INS) - State insurer - made the...

INS caves, requests increase in mandatory insurance for vehicles

The national insurer (INS) caved in, withdrew its lawsuit against the insurance superintendent, the Superintendencia General de Seguros (Sugese), for the mandatory insurance (SOSA) rate for vehicles, and decided to request an increase. The Instituto Nacional de Seguros (INS) had made the business decision to keep...

Uncertainty surrounds payment of the Marchamo

November is here, but the 2019 Marchamo is not ready, as has been the custom, because of the clash between the Instituto Nacional de Seguros (INS) and the Superintendencia General de Seguros (Sugese) - Insurance Superintendency. Even resolving this issues today, it could still take...

ICE Workers Strike illegal for affecting essential services; National strike continues

On Monday, two separate courts declared strikes illegal at the Instituto Costarricense de Electricidad (ICE) and the Instituto Nacional de Seguros (INS). In the case of ICE (the State electricity and telecom), labor judge, Yadir Jiménez, of the Primer Circuito Judicial de San José (First...

The 2018 Marchamo Explained (Q&A)

This is the last week of the week for more the owners of more than 1.3 million vehicles on the road to pay the Marchamo, the annual circulation permit. The deadline for payment is December 31, that is to day vehicles on the road without...

INS Willing To Invest US$500 Million to Build Roads

The Costa Rica state insurer, the Instituto Costarricense de Seguros (INS), says it could be willing to invest up to US$500 million in road construction projects that already have their pre-design and studies ready. The INS said they would only be interested in projects designated...

INS To Invest US$12 Million In Vehicle Evaluation Centers

The state insurer, the Instituto Nacional de Seguros (INS) says it plans to invest just over US$12 million in the construction of nine workshops in different areas of the country to review and evaluate insured vehicle for repairs. The cost of the nine workshops, called...

Costa Rica Insurance Spending Growing, Reaches Average of Latin America

Annual average per capita expenditure on compulsory and voluntary insurance policies grew from US$140 in 2009 to US$246 in 2016, approaching the Latin American average, which stands at US$250. In addition to an increase in the supply of insurance that came after the end of...

Costa Rica’s State Insurer Loses Market Share

For the first time since the opening of the insurance market in 2010, the State insurer, the Instituto Nacional de Seguros (INS), has lost its dominance in the health insurance segment, which is now led by Pan American Life Insurance. Pan American Life took 40%...

INS Announces Expansion To Trauma Hospital

Q COSTA RICA - The increase in demand and the possibility of diversifying the insurance business, the State insurer Instituto Nacional de Seguros (INS), announced a second tower to the Hospital del Trauma (Trauma Hospital). The plan was recently approved by the INS Board of...

Autonomous Agencies Increase Their 2017 ‘Propaganda’ Spending

Q COSTA RICA NEWS - Eleven autonomous government agencies (state agencies) including RECOPE (see hike in gasoline prices) and Acueductos y Alcantarillados (AyA), aja Costarricense de Seguro Social (CCSS), Patronato Nacional de la Infancia (PANI), Instituto Nacional de Seguros (INS), Superintendencia de Telecomunicaciones (Sutel), and...

It’s MARCHAMO Time!

(QCOSTARICA) It's that time of year again. It snuck up quickly this year, November 1, when the following year's Marchamo becomes known. Starting this morning, the INS website publishes the cost of the 2017 Marchamo - the annual circulation permit for every registered vehicle in...

Don’t Just Accept It, File For A Reduction

QCOSTARICA - If you are like one of the many, the 'fiscal' (tax) value of your vehicle has increased or feel that it is too high, you can file for a reduction. Although the review is made in San Jose, the request can be filed...

2016 Marchamo With Delays

QCOSTARICA - Every year, at the beginning of November, drivers learn the cost and are able to pay for the following year's Marchamo. Last year, the 2015 Marchamo went on sale on November 10. This year, it was to have been on November 16....

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