One of the things you will notice upon first arrival in Montevideo (or Uruguay in general) is that the traffic here is a little more chaotic than most European, North American or Australasian cities. Prior to arriving here I had read several warnings about the traffic laws and the varying levels adherence to those laws.
I am pleased to say that whilst the traffic here is less than organised and the laws appear to be used as guidelines; I have seen very few incidents, very little road rage and no accidents. With that in mind I set out to purchase a motorcycle, one of the first things I though it wise to find out about was insurance.
Insurance in Uruguay is optional and from speaking to people it would appear most people with motor bikes do not have any insurance. That said, there has been an increase of people making legal claims following accidents – in the same way as would happen in the USA or Europe. This has led to more people considering insurance.
Given that I was planning to purchase a slightly larger (relatively) and more expensive (relatively) motorcycle I decided insurance for me was a must – not only to protect me in the event of hitting someone but also to protect me and the bike in the event of someone hitting us with no insurance. There are two primary types of insurance available to me as a tourist with a full UK motorcyle licence (unlimited and over the age of 21):
- Con robbo (Third Party Fire and Theft) – this covers damage to a third party; person or vehicle and costs associated with it. The insurance is designed for those people that are driving low value vehicles who are trying to keep insurance costs down – if you have an accident that is your fault then you and your vehicle will not be covered for damage but any third party will be. Your vehicle will also be covered in the event of theft or fire damage (under certain circumstances). Clearly this is the cheaper of the two options.
- Con todo (Fully Comprehensive) – if you are involved in an accident that is your fault then you and your vehicle are covered for damages in addition to covering the third pary (person or vehicle) for damages, as with option 1 this coverages also protects you from fire and theft.
As a broad outline of the pricing I was quoted US $600 per annum for ‘con todo’ insurance or US $250 per annum for ‘con robbo’ insurance of a brand new Keeway Cruiser 250cc motorcyle (see here) valued at US $3600 and kept in a garage overnight. This is based on a 26 year old male rider with no previous motor bike insurance, never having owned a motorcycle and living in Punta Carretas, Montevideo. The only caveat on this quotation was that cancellation within the 1st 6 month period would mean I owe 70% of the premiums, the premiums are payable monthly or upfront.
These quotations were obtained from an agent recommended to me by the motorbike vendor; if you require these details please register and post a comment on this thread – I will email the details to you.
Note: This post is intended to provide information and guidelines only; it is believed to be correct at the time of writing, however the author makes no guarantee of the accuracy and accepts no responsibility for actions taken as a result of this information. The author recommends readers contact an authorised insurance agent in Uruguay to clarify details for their personal circumstances prior to commencing any agreement.