There is only one company in Costa Rica that is authorized to sell insurance. It is called the INS �Instituto Nacional de Seguros�, which is a government monopoly. If you wish to be covered by any foreign company, you must hire your insurance off-shore and have them cover you in Costa Rica.
Information about INS:
* INS sells insurance over the counter in offices that you can find in many places in the country. You can also buy through an agent and probably get a better deal because you get better advice and help with the red tape if you ever have a claim. Additionally, they will also do any paperwork and errands for you in all insurance matters, while as if you hire directly with INS you have to do all of it yourself.
* The value of your insured items is normally determined by you, using actual cash value. They normally don�t send appraisers, so you can normally determine the value on how much you really want to pay.
* All rates are in Colones. Currency devaluation gives you an advantage there because they normally charge the same amount for the complete year. Nevertheless, you should check periodically to revise rates.
* All policies have deductibles are non-negotiable and are fixed by the INS. They are normally an average of 20% deductible.
* Insurance binders are inexistent. You have to complete and sign all applications. Normally the item must be inspected and the premium has to be paid in order for insurance to become effective.
* INS is one of the largest and most solid insurance companies in Latin America. It reinsures internationally, avoiding the risk for themselves.
* Types of insurance you can obtain as follows:
Understanding Home
This Insurance offers a novelty package of coverages, oriented towards home owners. It offers protection not only for the home itself, but also the posibility to hire coverage options such as personal accidents, work risk for domestic helpers and ocassional workers, Civil Responsibility. At the end, the price for the total package is lower than if you took them all separately. Free Additional Benefits: If you take the whole package of coverages for more than �5 million, you obtain free INS HOME ASSISTANCE, coverage in remotion of ruble, Rent Expenses, Coverage for private property in transit, personal items, belonging to visitors in the residence, coverage for glass breakage (windows, doors, domes)
Safe Home 2000
This is a product created for homes, which offers coverage for fire, tremor, earthquake, huricanes, flooding, slidings, natural convulsions, plane and tree falling, cars crashing into the property, among others such as Rent Expenses, Rent Loses, Riots, Civil Commotion. You also obtain free Home Assistance.
INS Medical
International and Regional Plans
With this insurance, you can receive the best medical atention anywhere around the world and at the most competitive prices of the market. You can chose among two plans: The International Plan and the Regional Plan. They both sell in U.S. Dollars. If you take the International Plan you will have a yearly medical coverage for up to US$2 million anywhere in the world. If you take the Regional Plan you will have coverage for up to US$200 thousand a year in Costa Rica and Central America. Can be purchased as Individual or Collective Modality.
Glass Rupture Insurance
If you own a comercial office located in a centric place and exposed to vandalism or accidents that involve glass or mirrors, we recommend this insurance. It protects against losses for breakage, crashing or cracking of crystal, glass, mirrors and signs. The mirrors or glasses can be on counters. urns, windows or doors. No deductible is involved.
Fire Insurance
Fires always leave great losses. Fire insurance cover all risks related to fire. Additionally it cobres tremors, earthquakes, flooding, slidings and even damages created by falling of planes, airplanes and antenas.
Theft Insurance
The INS theft insurance gives you the opportunity to protect and recover your investment in case of theft. It covers loss of assets, as web as damages caused to the home or office during the burglary.
Accident Insurance
This insurance cobres any unexpected expenses derived from accidents. They offer two options:
Leveled Amount Basic Accident Insurance
Growing Amount Basic Accident Insurance
Unemployment Protection Insurance
This insurance protects workers in case they are fired without labor responsabilities, offering economical support by paying the average monthly salary. It can only be taken by tose who receive their monthly salary through the BAC San Jose Salary Deposit System. To hire it you must do it through BAC San Jose. INS is expecting other banks to join too.
Student Insurance
If you have children in school, high-school, college or nursery, or maybe you study yourself, this insurance will offer all the protection you ned. Even better, any student can have the insurance, no matter what age. It covers for accidents occuring in the study place or particular life, 24 hous a day, 365 days a year. ue ocurran en el centro de ense�anza o en la vida particular, pero eso no es todo pues la protecci�n se da las 24 horas del d�a, los 365 d�as del a�o en todo el territorio nacional.
Home Labor Risk Insurance
This insurance covers permanent domectic workers and ocassional domestic workers. The anual pay is of �17,660.00.
Teenager Labor Risk Insurance
Directed to the population between 15 and 18 years of age who wok independently. This insurance covers the worker in case of accident or desease that are caused or a consequence of the work he does. Yearly payments are �2.809.00 for half time and �5.351.00 for full time workers.
Car Insurance
There are different types of coverages for car insurance that go from basic insurance to vandalism. The annual payments vary according to the amount the car is insured for.
Credit Protection Insurance
If, for any reason, you lose your job, the monthly payments of your loans and credit cards will not be an isue. The INS will pay your debts if you have a Credit Protection Insurance or a Credit Card Insurance. You can take these when you obtain a loan or a credit card. If you lose your job, the INS will make your monthly payments automatically.
Travel Insurance
This cobres from medical expenses to incapacity and even death. There are different modalities: Aeroseguro, Viajero in colones, Viajero in dollars, Viajero with Assistance.
Life Insurance
These can be hired in Dollars or Colones and in Different Modalities. Options are: Basic, Universal, Global, Collective, Etc.
Credit Card and Debit Card Insurance
They give you protection in case of theft or fraud with your credit or debit cards.
For Companies
INS Medical Expense Insurance
Same as the Individual One Explained before.
Comercial Theft Insurance
Same as Regular Theft Insurance, but oriented to comercial businesses.
Labor Risk Insurance
You can have this Insurance Policy in two different modalities: Temporary (For construction, production, seasonal, sports and recreation and other types of temporary hiring) and Permanent (General/Mandatory, Single Worker, Home Workers, Teenager and Agriculture � Individual or Collective).
Electronic Equipment Insurance
The INS offers this insurance in order to cover laptops, desktops, photocopiers, phone centrals, cellular phones and even specialized medical equipment.
Produce Insurance
The Agriculture Insurance allows you to recover a big part of expenses incurred in plantations ruined. It offers the posibility to cover your obligations with bank institutions so that you don�t have to compromise your assets.
Boat/Embarcation Insurance
Also known as transportation insurance and offers protection for water embarcations. This insurance is designed to protect you against loses incured as consequence of an accident or in case of Civil Responsability originated by the use, property or maintenance of your ship.
For additional information, you can contact us and we�ll send an agent to you or you can go into the INS website: www.ins.go.cr . Unfortunately, the website is in Spanish only.