• Costa Rica Real Estate

Marchamo payments begin this week

December 31, 2014

The National Insurance Institute (INS) announced Monday that drivers can now check the agency’s website to find out how much the mandatory vehicle circulation permit, known as the marchamo, will cost.

Also, this year the Insurance Superintendency approved a 9 percent hike for private vehicles and a 24 percent increase for motorcycles.

Vehicle owners will have to pay ₡17,374 ($34.75) for ₡6 million ($12,000) coverage, and motorcycle owners will pay between ₡60,000 ($120) and ₡78,000 ($156), depending on the coverage amount.

The deadline to pay the marchamo is Dec. 31.

An estimated 1.1 million drivers must pay the circulation permit this year, according to Eduardo Fernández, director of the Solidarity Insurance Department at INS. In 2012, some 50,000 auto owners failed to pay the insurance.

To find out much you owe, see the INS website at: http://marchamo.ins-cr.com/Marchamo/Marchamo/Default.aspx

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