Car Insurance

[Mikeh]

Time to buy it. Did a search and came up with a Nicaliving thread that was somewhat outdated. One fellow on the thread, Mark, said a guy from his insurance company, Iniser, showed up and advocated on his behalf with the cops.

http://www.nicaliving.com/node/13934

Ideally, I'd like a national insurer that would show up as Mark's did to prevent the cops from charging me with Driving Under the Influence of a Foreign Passport, and / or confiscating the car. And also to be reasonable about settling claims.

Pero aqui es Nicaragua, and my impression is that car insurers here exist only to pay damages.

Does anyone have any real-world experience and recommendations?

[acc724]

im with BAC,,it and iniser are probably the 2 big ones..if u get in a accident..call them..and they will send someone out to investagate the accident..always have a cell phone with a camera in it..and take ure own photos..the more the better

[JackMcG]

Does anyone have any real-world experience and recommendations?

Recommedations.. yeah Mike.... here's some of mine...walk, bike, take buses and taxis and use a chauffeur but don't drive....after your first accident you will regret ever driving here.....

But then, that's just me!

[acc724]

Recommedations.. yeah Mike.... here's some of mine...walk, bike, take buses and taxis and use a chauffeur but don't drive....after your first accident you will regret ever driving here.....

But then, that's just me!

i have lived in guate,.hondurus,el salvador..and here since 98 and i have always had a truck..if im going to panama city some times i take the bus..i personally wouldnt live down here with out one..i like the freedom of being able to do what i want when i want..and i dont like chicken busses

[Mikeh]

i have lived in guate,.hondurus,el salvador..and here since 98 and i have always had a truck..if im going to panama city some times i take the bus..i personally wouldnt live down here with out one..i like the freedom of being able to do what i want when i want..and i dont like chicken busses

I agree.

I hope this thread doesn't get side-tracked into a discussion of private vs. public transport. I would be grateful if all of us who post on it would focus on the original topic ... the ins and outs of buying car insurance in Nicaragua.

[acc724]

I agree.

I hope this thread doesn't get side-tracked into a discussion of private vs. public transport. I would be grateful if all of us who post on it would focus on the original topic ... the ins and outs of buying car insurance in Nicaragua.

there are a couple of companies that sell it..most of the banks sell..all the big companies are probabley about the same..i use Bac..for my carrier..i also use BAC as my bank..so i can do everything in one stop..casa pellis owns Bac..the ins and outs..go to a insurance company and buy it..there all probably the same

[catahoula fan]

Mike, we use Seguros America in Jinotepe. A one year policy with collision coverage and other driver coverage is running us $54 per year. They are great to work with and we have used them for years...they even called us this last time to say our insurance was running out!

They are located right across from the children's park in Jinotepe, good luck!
2-274-4200

[Mikeh]

Mike, we use Seguros America in Jinotepe. A one year policy with collision coverage and other driver coverage is running us $54 per year. They are great to work with and we have used them for years...they even called us this last time to say our insurance was running out!

They are located right across from the children's park in Jinotepe, good luck!
2-274-4200

Thanks Melissa.

[Daddy-YO]

I respond, reluctantly. I recently re-up'ed my insurance with Seguros America, not because I wanted to, but because the law requires it. I don't believe it's worth diddly-squat. They camp out in the BAC complex, whereever. I don't expect it covers anything. It costs, end of story. In a traffic 'situation' I must defend my sorry-ass self, lo que sea. Insurance companies worldwide exist for one reason, their own enrichment. And in a country where actuarial statistics are non-existant, fuggetaboutit bubba.

Such are my beliefs. I would love to read all testimonials to the contrary.

[cookshow]

You said a mouthful Daddy Yo: And in a country where actuarial statistics are non-existant, fuggetaboutit bubba.

Not saying it can't work, maybe it does, but what do you expect for $50 a year, other than proof you have insurance.

I am sure there are some more expensive options (judging by the large numbers of LUXURY cars) moving around MGA. Same the World over, you get what you pay for.

Here the $50 a year insurance would be fine, a White Man driving on the Main might want to study his options.

[Dr. Demento]

I agree.

I hope this thread doesn't get side-tracked into a discussion of private vs. public transport. I would be grateful if all of us who post on it would focus on the original topic ... the ins and outs of buying car insurance in Nicaragua.

and you didn't give me a coffee alert! ok, mum's the word no thread hijacking....

how about a mounted camcorder in the car to tape the accident. police cars got 'em. might be good for gringos to have proof of how the accident really occured...

[cookshow]

Thing is, how it happened don't matter. Better than a camera is an action certificate.

Laws don't matter much when no one has to follow them, call it a trickle down effect.

[Danpolley]

im with BAC,,it and iniser are probably the 2 big ones..if u get in a accident..call them..and they will send someone out to investagate the accident..always have a cell phone with a camera in it..and take ure own photos..the more the better

Very true, a friend was in an accident and called me before they took him to the hospital. I arrived at the accident and did my best CSI photo shoot. Different angles, photo of the empty beer cans on the floorboard of the other car, etc. I had the best shoots enlarged and he and his lawyer took them to court, the judge was very impressed and even waved the photos in the face of the other guy, telling him to shut up, he had the truth right here (meaning the photos).

[Just Plain John Wayne]

Very true, a friend was in an accident and called me before they took him to the hospital. I arrived at the accident and did my best CSI photo shoot. Different angles, photo of the empty beer cans on the floorboard of the other car, etc. I had the best shoots enlarged and he and his lawyer took them to court, the judge was very impressed and even waved the photos in the face of the other guy, telling him to shut up, he had the truth right here (meaning the photos).

Totally excelent advise Guy's where Lead Floats and Cork Sinks...

[el duende grande]

I`ve had Iniser for 4 years but can`t vouch for them because I`ve never had a claim. The legion of idiots on the roads have all managed to not hit me yet. If you have the minimum coverage required by law, you are essentially self-insured-- keep an extra 10-50k in the bank for contingency. If you get insurance that will actually pay for a wreck, be prepared for sticker shock--per dollar of coverage, insurance here is more pricey than in smalltown US. And for good reason!

My wife has been sitting with a relative in the pubic hospital in Esteli for the last week--they whole family is astounded by the number of traffic accident victims that are being hauled in. The big tear-jerker was the little girl who was in the hospital and her dad was hit and killed by a drunk driver on the was to sit with her. The pregnant mom had to come in and explain to the girl why daddy wasn`t coming to the hospital.

[Mikeh]

I`ve had Iniser for 4 years but can`t vouch for them because I`ve never had a claim. The legion of idiots on the roads have all managed to not hit me yet. If you have the minimum coverage required by law, you are essentially self-insured-- keep an extra 10-50k in the bank for contingency. If you get insurance that will actually pay for a wreck, be prepared for sticker shock--per dollar of coverage, insurance here is more pricey than in smalltown US. And for good reason!<br>
<br>
My wife has been sitting with a relative in the pubic hospital in Esteli for the last week--they whole family is astounded by the number of traffic accident victims that are being hauled in. The big tear-jerker was the little girl who was in the hospital and her dad was hit and killed by a drunk driver on the was to sit with her. The pregnant mom had to come in and explain to the girl why daddy wasn`t coming to the hospital.

I took the car for a spin last year with a Nicaraguan friend who turned out to be the worst backseat driver in the world. When I finally told him to STFU he replied "You don't understand. When a Nicaraguan gets behind the wheel of a car he doesn't care whether he lives or dies."<br><br>Here you can get 2 types of car insurance: the basic legal minimum and "full-coverage". I took the full coverage even though it costs me about $450 per year for a car whose market value is maybe $5,500. Here's why:

If you have the basic minimum and you get into an accident, even if it is not your fault, the police often confiscate your car for months until everything gets sorted out, which will involve a huge amount of wasted time and stress. With full coverage, they wait till the insurer's adjuster shows up to take a report and then let you drive away.

As well, if you have an accident that is clearly the other guy's fault, nonetheless the police will assume that you at fault for the crime of Driving Under the Influence of Being a Gringo. The only solution is to negotiate an outrageously high payoff to the moron who caused the accident. But if you have full-cover, the arsehole will have the take on the entire might of the insurance company, and good luck to him.

Also, full-cover here means exactly what it means, and it is no-fault.

Can you actually collect from a Nicaraguan insurance company? With basic coverage the answer is no, with full-cover it depends on the company.

I finally decided to go with car insurance from my bank, Bancentro, rather than Seguros for several reasons. They now have adjusters and estimators assigned to just about every branch, which means their network covers just about the entire country.

Secondly, according to their customers whom I've spoken with, they do pay out on full coverage, and promptly.

Thirdly, they did the inspection curbside outside the local branch here in Jinotepe, whereas Seguros required me to drive to Managua to do the inspection.

Fourthly, they actually agreed to negotiate with me and eventually charged me less than the estimate I got from Seguros.

[off2paradise]

Excellent informative post Mikeh.

[Just Plain John Wayne]

Excellent informative post Mikeh.

I think so too..

Well done...