By San José, Costa Rica — Costa Rica’s National Insurance Institute (INS) has reported a substantial surge in vehicle theft claims during the first half of 2025. The institution disbursed ₡1.235 billion ($2.2 million USD) to compensate owners of 123 stolen vehicles, all insured under the INS Autos policy’s comprehensive theft coverage (Coverage F).
This represents a notable increase compared to the ₡1.127 billion paid out for the same period in 2024. The INS also processed 80 claims for partial thefts, targeting components like radios and rims, totaling ₡274 million ($500,000 USD). In total, 2024 saw 300 incidents resulting in ₡2 billion in payouts.
To shed light on the legal complexities surrounding INS vehicle theft claims, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
Vehicle theft claims with the INS (Instituto Nacional de Seguros) can be intricate, requiring meticulous documentation. It’s crucial to file a police report immediately and notify the INS promptly. Beyond the obvious documentation like ownership and insurance policy details, evidence supporting the circumstances of the theft can significantly strengthen the claim. This might include security camera footage, witness testimonies, or even photos of the location where the vehicle was last seen. Don’t hesitate to seek legal counsel to navigate this process efficiently and ensure your rights are protected.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on meticulous documentation and prompt action is invaluable advice for anyone facing the unfortunate circumstance of vehicle theft. Gathering supporting evidence, as he suggests, can indeed make a significant difference in the claims process. A proactive approach, combined with legal counsel if needed, empowers vehicle owners to navigate this complex situation effectively. We thank Lic. Larry Hans Arroyo Vargas for sharing his expert perspective with TicosLand.com readers.
The rising cost of vehicle theft is impacting insurance premiums. For example, the annual premium for Coverage F on a vehicle valued at ₡12 million is currently ₡9,094 plus value-added tax (IVA). INS offers additional coverage options like Deductible Indemnification (IDD), Deductible Indemnification Plus (IDP), and Deductible Exemption (N), which allow insured individuals to receive up to 100% of the insured value.
Policyholders also have the option to choose a fixed deductible instead of a percentage-based one, potentially saving money in the long run. INS covers repair costs if a stolen vehicle is recovered damaged. If a vehicle is recovered after the claim has been paid, ownership transfers to INS.
The INS Autos policy encompasses a range of coverages, including:
This increase in vehicle thefts highlights the growing need for comprehensive auto insurance in Costa Rica. The INS continues to offer various coverage options to protect vehicle owners from financial losses due to theft and other incidents. As vehicle theft trends evolve, it’s crucial for car owners to review their insurance policies and ensure adequate coverage.
The rising trend in vehicle theft is a cause for concern in Costa Rica. The authorities are likely to intensify efforts to combat these crimes and improve vehicle security. Meanwhile, drivers are encouraged to take precautions to protect their vehicles, such as using anti-theft devices and parking in secure locations.
This escalating trend also underscores the importance of comprehensive insurance coverage. As theft rates increase, having a robust insurance policy provides essential financial protection for vehicle owners in Costa Rica. By understanding the available coverage options and choosing the right policy, drivers can mitigate the financial risks associated with vehicle theft.
For further information, visit the nearest office of INS
About INS:
The National Insurance Institute (INS) is a Costa Rican state-owned insurance company offering a wide range of insurance products, including auto, home, health, and life insurance. INS plays a crucial role in Costa Rica’s insurance market, providing coverage to a significant portion of the population and contributing to the country’s social security system.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest standards of integrity while championing innovative approaches to legal practice. Serving a diverse clientele, the firm’s commitment to empowering society extends beyond its legal work through proactive initiatives that demystify complex legal concepts and promote broader access to justice. This dedication to fostering a legally literate public reflects Bufete de Costa Rica’s profound belief in a just and informed society.
