purchasing a car

[Scotty]

Hi-
I'm new to this site, and I'm planning to be living in Costa Rica for the next year, beginning in June.  I've been following many of the various forums and searching websites, and buying a car seems pretty straight forward.  HI've seen almost nothing on insurance though... how is insurance for a car purchased?  I know that there is a single insurance provider in Costa Rica (legal monopoly), but at what stage in the car buying process does one acquire insurance, how is it priced, etc.?
thanks!
scotty

[Russ]

Hi Scotty, welcome aboard!

Yes the INS provides all insurance.  The mandatory insurance is paid annually and covers your personal liability (injuries to persons you strike) for up to 1.5 million colones.  ($3000) 

Obviously some people are comfortable with this and some are not, it depends on your assets in your name and your vehicle.   You can get collision and additional liability insurance from any INS agent.  If you purchase from a reputable agency, you can often get an agent that they work with to come straight to the lot, so you get the insurance right away.

I don't have good information as to the amounts, but I have priced new cars and the insurance that the bank makes you get can be as low as $100 for an economy car.  A ballpark figure could be $50 to $250 per month depending on how much collision coverage you got, the make and year of the car, and also the additional liability.