Auto Insurance

jeanmarie

New member
Mar 24, 2004
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My husband recently purchased a car (small Honda sedan- not sure of exact model) in Santo Domingo and as of yet it is not covered by insurance. My husband will be going to the DR next week to trasnfer the car to his name and get it insured. Can ayone offer any tidbits of info regarding auto insurance? My basic questions are:

1) Is separate coverage offered for collision and liability as it is in the US?

2) Are premiums quoted on an annual basis? Is there such thing as installment payments of premiums?

3) Are there reputable vs non-reputable compnies? Any recommendations? (though my husband is from Paraiso, Barahona, the car will be used mostly in Sto Domingo, operated his cousin).

4) Anyone got a ballpark for what we might pay?

5) What question should I ask that I didn't? What should we beware/be wary of?

Thanks so much...

Jean Marie
 

canadian bob

Bronze
Jan 16, 2002
641
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Please search the Archives re- this. Virtually all the answers to your questions will be found. Unless the car is new, you will only be able to get "Third Party Liability" which you MUST have. Canadian Bob.
 

rellosk

Silver
Mar 18, 2002
4,169
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canadian bob said:
Please search the Archives re- this. Virtually all the answers to your questions will be found. Unless the car is new, you will only be able to get "Third Party Liability" which you MUST have. Canadian Bob.
You can't get collision insurance on a used car?
 

GringoCArlos

Retired Ussername
Jan 9, 2002
1,416
40
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The insurance companies won't offer collision insurance on a car that is more than about 6 years old.

Also, the amounts of liability coverage they offer in the DR are much less than in other countries (ESPECIALLY the U.S.). Unless the vehicle is owned by a company which also insures their business premises (and can pick up an additional blanket liability policy for millions of pesos more), the maximum coverages seem to be about RD$400,000 for liability.

My insurance broker once told me that if you cause an accident in the DR which takes someone's life, the value of a life to the carrier was about RD$500,000, and there had not been awards much over this amount from lawsuits.

The insurance companies La Colonial and Progreso have both been good to me, and neither one has batted an eye when I have had choques. They authorized the repairs immediately in the amounts that I had been quoted in.

You can pay one premium annually, or quarterly, or in monthly installments usually. They will normally give you a discount if you have had no claims for the previous year, but no multi-vehicle discounts are offered.

If you have been a bad driver in another country (and have many "points" racked up from violations), don't worry, because you get to start over here in the DR with a clean slate on infractions.

If you insure a vehicle valued at RD$300,000 with full coverage, it will cost about US$600 to US$850 per year. I think it is best to go through an insurance brokerage, because they deal with all of the insurance carriers, and the broker knows which carriers are good, and which carriers are dirty skunks to their clients.
 

canadian bob

Bronze
Jan 16, 2002
641
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Collision coverage.

rellosk said:
You can't get collision insurance on a used car?

That is my experience with insurance on the north coast (PP). Because of the demonic increase in traffic, dominated by 'motoconchos' carrying everything from a coffin (presumably empty) to a 6 tier wedding cake, I have cut back drastically on trips from Costambar to P. Plata.
Santiago seems to have less motoconchos but a lot more 'publicos. My Moca-made all-round heavy duty bumpers have proven their worth!! Canadian Bob.