CAR RENTAL INSURANCE
Everything you need to know
Rental car insurance might mean the difference between the trip of your dreams and a financial nightmare. It’s important to plan for the unexpected, especially when driving a strange car around unfamiliar places.
You may think that choosing the right policy can be overwhelming—there are so many options to choose from and a multitude of different suppliers....not with us! TICO TRIPS makes it very easy! We have certified suppliers and have negotiated to make things easy for you. Just decide how worry-free you want to travel!
Plus, there are other great added values and benefits that our suppliers give our customers, which you will not get when booking directly or through other websites.
THIRD PARTY LIABILITY INSURANCE
This is the big question everybody has: What is a Third Party and why is this insurance always mandatory?
A Third party is anything and everything that is outside of your rental car (a person, animal object or building) that is involved in any event with it. It may be an accident or any other situation. Costa Rican Law mandates that a Third Party's recovery or reconstruction is provided for by you, if you should inflict any damage upon them or it.
This is why Third Party Liability Insurance in Costa Rica is mandatory for all rentals and rental car agencies. It provides limited liability coverage and financial responsibility for incidents involving third parties. In every TICO TRIPS quote, this liability insurance is included. No exceptions.
What happens when there are damages to a third party? This liability insurance covers up to USD $20,000 per event. IF AND WHEN the event (accident) leads to permanent injury or death of a third party not traveling in the rental car, this insurance will cover up to USD$100,000 per accident. TICO TRIPS customers have ZERO deductible.
BASIC CAR PROTECTION (CDW)
TICO TRIPS providers offer our clients professional coverage at reasonable and competitive rates with no hidden fees.
This BASIC car insurance (CDW) waives the client’s financial responsibility in the event of a collision, roll-over, or other damages made to the rental car.
According to our providers terms and conditions:
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Basic car insurance provides coverage for accidents, turnover and partial or total theft of the vehicle or it's parts. This does not include personal belongings left inside the vehicle.
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The Basic car insurance deductible or excess amount is USD $1,000. (+ tax)
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Road assistance will always be provided (24/7) by calling the car rental agency directly or Tico Trips. In case it is required for the car rental agency to provide a service through this assistance (towing, ambulance, gasoline, new tires, among others) a surcharge will apply depending on your location.
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BASIC Road Assistance does not include changing of flat tires, or protection against vandalism.
What happens in the event of a collision, rollover, or damage to the vehicle? The car rental agency representative will help you call the traffic police and insurance agent, as well as any medical services required. Please make sure to call them first. They will also help you with filing the respective claim. Incident processing will include the vehicle’s appraisal, damage and downtime reports, repair reports, legal fees and others.
EXTENDED (FULL) PROTECTION
With the EXTENDED (FULL) PROTECTION your concerns for safety and security are covered. This insurance is a comprehensive coverage that guarantees your needs are taken care of.
A rental agreement with FULL PROTECTION :
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Waives the deductible (or excess) from the BASIC car insurance. Having a ZERO deductible means you will be fully protected if anything happens to the rental car or to any third parties.
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Your Third Party Liability coverage will increase to USD $2,000,000. In case of an accident, all damages to third parties (vehicles and people) will be waived and you pay nothing.
The FULL PROTECTION ensures that your time in Costa Rica will be spent with peace of mind. No matter what happens on the road.
This includes:
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FREE Nation-wide 24/7 roadside assistance, including tow truck service.
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Vandalism damages to the car ARE COVERED. This includes the tires, windshields and windows.
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EXTENDED Road Assistance does not include changing of flat tires.
EXCLUSIONS
Clients who do not follow the following rules and regulations regarding car rental coverage will lose their coverage benefits. Be aware that the insurance purchased will not apply under the following circumstances:
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Failure to report an incident (collision or damages) to the car rental agency and TICO TRIPS immediately after the event occurs.
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If the driver is under the influence of drugs or alcohol at the time of the event.
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If the driver is not authorized or inscribed as an additional driver in the rental agreement and damages occur.
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Any damages incurred while driving on unauthorized terrain or not officially recognized roads. This includes rivers, lakes, beaches, mangroves, flooded roads, or “off-road” conditions.
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Failure to provide the traffic report done by the traffic police and the accident report by the insurance inspector to the rental agency
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Violation of Costa Rica’s Traffic Laws.
Avoid this last circumstance by calling the car rental agency immediately after any incident occurs. Please remember to ask the car rental agency to provide their emergency service numbers when you are signing your rental agreement.
PENALTIES AND FINES
Clients are subject to penalties by the car rental agency under the following circumstances:
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Smoking inside the vehicle (from USD $250 + tax).
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Excessive soiling of the vehicle’s interior (from USD $100 + tax).
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Loss of vehicle’s documents (from USD $100 + tax).
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Loss of vehicle’s license plates (from USD $100 + tax).
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Loss of vehicle’s ignition/door keys (from USD $100 + tax to USD $500 + tax).
All Traffic fines made to the vehicle during the customer’s rental period are full responsibility of the renter and must be paid in a bank or at the car rental agency’s counter prior to closing the rental agreement or leaving the country. Failure to report any traffic tickets may result in an additional fine plus the ticket’s amount.
WHY A GUARANTEE DEPOSIT?
Car rental agencies have cars for rent, which are their main assets for business. They cost money. And for a agreed rate, they are renting it out to you. They are trusting that you will return it in the same condition it was delivered, minus the normal tear and wear from use. The cars are insured, which means that the insurance company will pay for any damages. But all insurances have deductibles, which is a part of the cost that is not covered by the insurance policy itself. So, the car agency must be sure that YOU, the person responsible for the vehicle during the time of your rental, have means of paying this deductible in case there is a damage done to the vehicle. Why? Because it needs to be in top-notch condition for the next customer who uses it.
Now, when you book directly with a car rental agency, a USD$1,000 - $1,500 + rental value guarantee deposit is required for all vehicle rental agreements, to cover the rental payment, guarantee deposit, any incidentals added to the rental and refueling costs, just in case. But renting through TICO TRIPS, this deposit is lowered to only USD $500 - $750, depending on the car category. Why? Because this is a benefit awarded to OUR customers. They trust you because we are referring you.
Clients can make the deposit with their valid Visa, Mastercard, Discovery, or American Express credit card. Debit cards or cash deposits are not accepted.
Upon return of the vehicle THE CAR RENTAL AGENCY will submit an electronic request to it's bank, to release the deposit. The funds will be available back in your account's credit, depending on your bank’s processing time. It can normally take between 10-14 working days.
FREQUENTLY ASKED QUESTIONS
WHAT IF I WANT TO USE MY CREDIT CARD'S CDW INSURANCE?
First and foremost: All TICO TRIPS quotes with discounted rates already include CDW protection. If you want to decline this CDW protection, we invite you to book with the provider directly at their normal website rate. Special conditions, such as the low deposit, zero deductible for Third Party's Liability insurance and free additional drivers will not apply when you book with them directly. These are all conditions given exclusively to TICO TRIPS preferential customers.
WHAT SHOULD I DO IF I HAVE AN ACCIDENT?
In the event you have an accident in Costa Rica, make sure you follow these important steps:
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Call 911 and report the incident immediately. The emergency contact number for police, ambulance, fire, or any other emergency in Costa Rica is 911. Explain to the dispatcher that you’ve had an accident. A traffic police officer or “tráfico” will be dispatched to your location. Make sure to let them know if you require medical assistance.
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Do not move the vehicle: You should not change any aspect of the accident scene until authorized by the traffic police. This is for insurance purposes under Costa Rican law. Do not move your car from where the accident occurred, even if it is in the middle of traffic. Most of Costa Rica insurance agents will need to photograph the scene to determine who is responsible.
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Call the car rental agency hotline immediately, provided at the time of rental. Report the incident to the attending agent.
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Alert other drivers of any danger. Place the red emergency triangle on the road about 15 feet before the scene of the accident. This will alert other drivers of possible danger.
If you opted to use your credit card’s LDW coverage and complied with the required conditions:
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Work with your car rental agent during the claim process. We will provide you with the necessary documents for your insurance carrier when you make a claim. Make sure you read the terms and conditions carefully beforehand to understand what’s covered and what isn’t.
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Make sure to sign the claim so that the car rental agency can assist with the credit card provider’s processing requirements.
