Auto insurance in Nicaragua works reasonably well notwithstanding a few particularities. Nothing is standardized between the five local Nicaraguan insurance companies. Even the most common makes (Toyota) should be individually quoted to obtain the best rates.
Fleet discounts are offered by most Nicaraguan underwriters and begin with a minimum of five (5) vehicles insured under one policy. Brands such as Ford, Volkswagen, BMW, Mercedes and Renault are penalized by the Nicaraguan insurance companies with higher deductibles.
Nicaraguan auto insurance available includes:
- Car Crash – NicaraguaLiability coverage
- Rental Coverage
- Extraterritorial coverage*
- Medical payments for occupants
*Extraterritorial coverage is used when a person drives an insured vehicle to another country such as Costa Rica or Honduras.
** Robbery coverage in Nicaragua only covers total robbery of the vehicle. Therefore it does not provide coverage stolen hub-caps, radios, or fog lamps.