We bought our bikes in Bolivia and had the Bolivian SOAT insurance that came with it
When we crossed into Peru (about 9 months ago) they wouldn't accept the SOAT insurance so we claimed to have "international" insurance ... where we just pulled out a random document from our backpack that was actually our Allianz flight insurance document. Since they couldn't read English they bought it and let us through.
I even said "Look here, deductible" and pointed to where there was a large dollar amount written somewhere on our flight insurance doc.
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