QCOSTARICA — As you pay (or paid) your 2024 Marchamo, you may have noticed a charge for ¢25,031 (for a passenger vehicle) for the Seguro Obligatorio Automotor (SOA) – Mandatory Automobile Insurance.
But, what does it really cover? And is the ¢6 million colones coverage paid with the Machamo enough?
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The first question is easier to answer, while the second, given the increase in number of traffic accidents, a change to the coverage provided by the national insurer, the Instituto Nacional de Seguros (INS), not so easy.
One of the proponents of more coverage is Tomás Soley, head of the Superintendencia General de Seguros de Costa Rica (Sugese) – General Insurance Superintendence.
Currently, the coverage of the SOA is of little use, as not enough, when the injuries from a traffic accident are very serious and in the end, they can no longer be treated by the INS trauma center and patients have to go to the Caja (Caja Costarricense de Seguro Social – CCSS) for continued medical care.
“This impacts the public health system, which is already saturated. Since 2010, coverage has remained at ¢6 million, except for the period 2012-2015 when even lower differentiated coverage was in force for motorcycles and mopeds. The reality then is not the same as today, so it is recommended to increase coverage gradually,” Soley said.
The INS does provide additional coverage, an additional ¢6 million colones, at an additional cost of ¢7,140 per year, to those who pay the Marchamo online directly on the INS website.
The mandatory automobile insurance represents on average 20% of the total Marchamo, the other 67% is the vehicle property tax and the rest goes to the Consejo de Seguridad Vial (Cosevi), the Consejo de Transporte Público (CTP), among others.
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The Marchamo is due payable not later than December 31 of each year and can be paid at any financial institution, at any INS office or INS authorized agent and INS online. On January 1, drivers in vehicles circulating without the Marchamo are exposed to fines and/or seizure of license plates and/or vehicle.
In addition, the amount of the Marchamo will begin to accrue late payment fees and interest.
For vehicles without the vehicular inspection,to avoid late fees and interest, the Marchamo can be paid at any INS office, however, the sticker will not be issued, in effect the vehicle cannot circulate until the vehicle passes inspection.
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