US and Canadian travelers take extra care in choosing an insurance company at home, but fail to protect themselves adequately while driving in Mexico on vacation or business. This is understandable because Mexico insurance coverage can be confusing.

Mexico applies Napoleonic law, so it is critical that you are protected from being “confined” in case you are determined to be responsible in a car accident. Mexico is excluded for damages to others in all United States and Canadian issued “Liability” or “Full Coverage” insurance policies and most do not cover collision to you vehicle (some allow collision coverage near the border areas so check with your agent).

To help find top quality Mexican Auto Insurance protection, astute motorists begin by checking financial $ strength, independent ranking, and loss handling reputation and ability of their potential insurer as a first step and then compare internet features, limits, and rate quotes that satisfy their needs as a 2nd step.

Purchasing insurance from a reliable “A” rated company who provides adequate “liability” limits with value oriented features and benefits is the goal when purchasing insurance for Mexico. The method discussed is nearly impossible if you buy coverage at one of the border sellers (it’s a la carte), however over the past few years it is getting easier to buy a policy that can be understood and can be purchased less expensively online over the internet.

At the very least, explore carriers with an “A” rating or higher (As ranked by A.M. Best, or S and P ) who are admitted and accredited to sell Mexico car policies.

If an internet site does not show on the opening page that the insurance company they represent is “A Rated” (this includes Mexico domiciled Insurance Companies), 9 times out of ten they are selling insurance from un-rated or non-rated insurance companies.

A.M. Best (ambest.com) and Standard and Poor’s (who rate global, foreign, and domestic insurers) are considered to be the industry standard rating agencies in the insurance marketplace. In fact, many insurers share business with other insurance companies (reinsurance) and the minimum rating for the past 2 decades is an A.M. Best’s Rating of “A” .

When purchasing any type of Car Insurance for Mexico, buyers should ask themselves a few questions. Can I buy reliable insurance from a carrier who has a minimum “A” Rating or am I being steered by an agent or broker who runs a website or local independent agency to accept and purchase coverage from an unrated insurer who offers a less reliable program, but who may pay the agent more commission in order that the agent will favor their coverage?

You should understand, the amount of premium a company writes yearly or the size of an insurance company as a measure of fiscal strength or claims paying ability is a very iffy measure of fitness. The answer you sometimes hear when a broker does not wish to reveal or doesn’t understand the true scope of your risk could be ”Why they are the first , second, third etc largest insurer in (any country).

First look at the insurance company rating ( “A” is Standard), next the policy limit and features, and finally the price. Using this Mexican Car Insurance purchasing method will help you evaluate and compare rate quotes on a clear apples to apples basis and help you get what you pay for should you ever be involved in a car accident or have a loss.

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