The Costa Rican Insurance Superintendency on Monday reported new prices motorists must pay for mandatory vehicle circulation permits, known as marchamos, for next year.
On average, this year’s prices are 12.4 percent higher than those approved for 2013, officials said at a press conference at the National Insurance Institute (INS) in San José.
Vehicle owners must pay ₡20,856 ($42), which is ₡3,482 ($7) more than last year, while motorcycle owners can choose from two types of coverage.
Those wanting ₡6 million ($12,000) coverage must pay ₡80,924 ($162), which is ₡2,777 ($5) more than they paid in 2012.
For ₡3.5 million ($7,000) coverage, motorcycle owners must pay ₡61,306 ($122), or ₡593 ($1.50) more than last year.
Representatives of motorcyclists joined INS Executive President Guillermo Constenla at the press conference in saying, “This year’s prices are fair.”
Last year, hundreds of bikers protested what they called an “excessive” hike. Those protests ended in a stalemate when Constenla refused to budge on the issue.
An estimated 1.2 million motorists must pay the circulation permit this year, according to the INS.
The deadline to pay the marchamo is Dec. 31. Those failing to pay by that deadline could be fined ₡47,000 ($94).
