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Christian Burn of Grand Baymen – Best Places In The World To Retire User Account
San Pedro Ambergris Caye Golf Carts Parked In Street. – Best Places In The World To Retire – International LivingAs a Canadian, I can only compare the cost of car insurance in Belize to the prices in Canada. In Canada I was paying about US $1,500 per year to insure a car and that was not as a young driver. The car was a sedan, nothing like a fancy sports car.
 
Here in Belize, I pay $65 per year to insure my golf cart. Expats drive golf carts here in Ambergris Caye, which makes everything related to getting around in your own vehicle very inexpensive. 
Saira Mahabir of Century 21 Belize – Best Places In The World To Retire User Account
Cars in parking lot of Belize International Airport – Best Places In The World To Retire – International LivingFor private vehicles in Belize that are brand new up to approximately 5 years old, you would usually pay US $750 for a fully comprehensive insurance. Fully comprehensive insurance is when the insurance company covers 100% of everything.   The insurance company does the checks to see if the car will be covered with a fully comprehensive insurance or not.
 
After the car is five years old, you can no longer get fully comprehensive insurance coverage, but you can get third party insurance. Third party insurance covers less than comprehensive insurance and would cost only around $150 to $200 per year. Under this insurance, the insurance company will not cover your vehicle but they will cover the other person’s vehicle. You can only get this insurance for cars that are not new.
 
(Cars in parking lot of Belize International Airport, pictured.)
Howard Oldham of Tropic Real Estate – Best Places In The World To Retire User Account
Downtown Belize City Arial View – Best Places In The World To Retire – International LivingIn Belize, it is required by law to have third-party car insurance. If you have an accident and you’re your fault, third party insurance will pay for the damage to the other guy’s property that you caused, and nothing for you.  That’s why its cheap.
 
If you buy a brand new car, you can get full comprehensive coverage (liability, collision; everything) at around Belize $200 (US $100) a month, but it covers everything. It may sound expensive but it gets cheaper every year you have the car, because the value of the car goes down every year. For example, if you have a 5 year old car, automobile insurance will cost you around Belize $200 (US $100) a year. It gets really inexpensive. 
 
(Pictured: Downtown Belize City arial view.)
Mark Leonard of Paradise Found Belize Real Estate and Development – Best Places In The World To Retire User Account
Man riding an ATV in Belize – Best Places In The World To Retire – International LivingCar insurance in Belize is around US $150 a year for a mid-sized vehicle (commercial vehicles and trucks are a few dollars more), but the insurance doesn’t cover damage to your own car.  For example, if you self-destruct your own car then you pretty much eat the cost to fix or replace it.  So the insurance covers, if you’re in an accident, costs to cover the other people in the accident. Chasing down the other party or their insurance company can be a little bit of a pain. It’s a little hard to keep up with these people because the insurance companies hate to part with money.   
 
So once again, the car insurance covers liability, collision, and damage to another person’s vehicle. It doesn’t cover your vehicle. If you cause an accident, you are on the hook for the damage to your car. In a few instances that we’ve had, a car hit us and we couldn’t figure out who hit it, so we had to pay to get it fixed. If you are on a public road, it is different than if you are on a private parking lot. Private parking lots aren’t covered. Insurance is a little sketchy here, and is designed more to cover the major incidents. 
 
(Pictured is another good way to get around in Belize other than in a sedan.) 
Apolo Caliz of Boris Mannsfeld & Associates – Best Places In The World To Retire User Account
ferry wiht cars and trucks Belize – Best Places In The World To Retire – International LivingIn my opinion, insurance is very affordable in Belize. The cost will depend on what type of car you have and how long you will have the insurance available. A typical cost would be somewhere around US $225 / year for comprehensive Insurance, which would be one of the cheaper insurance costs that would cover majority of an insurance policy. If you wanted full coverage, it would cost you around US $350 per year. 

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