There are numerous differences between US, Canadian and Mexico automobile Insurance policies. Mexico law states that insurers who are licensed and recognized by Mexico authorities are allowed to provide “liability” insurance covering you against bodily injury or property damage you might do to others. The Republic of Mexico has no policy that dictates insurers to be tested and ranked to evaluate finances or claims paying ability

Your US or Canadian policy may extend physical damage coverage within past the US border for a limited number of miles. (Most do not) Please check with your insurance agent before you leave home. Car Insurance for Mexico is sold a la carte, with numerous unrated insurers limiting coverage in order to appear to reduce price, as there is no “standard” policy coverage.

It should not be surprising, that the insurance companies with the best reputation for paying claims fairly tend to be rated companies. Claims for Property Damage to 3rd parties are finalized on an “actual cash value” basis, guided by Mexico practice of law. Check Kelly Blue Book or N.A.D.A. Guide (nada.com) for correct ACV values

All claims must be placed in Mexico for insurance coverage to apply. Mexican Auto Insurance rates, coverages, limits, deductibles and claims handling vary among Mexican insurers. You should ask questions such as, does the car insurance policy include Legal Assistance, Bail Bond, Roadside Assistance as part of a package? Are the more serious claims handled in the United States, saving you the time, frustration, and expense of traveling multiple times to Mexico to fullfill your legal obligations? Does your carrier allow repair your car, pick-up, RV or SUV in the US or in Canada, and not just Mexico? Are you buying a postal service paper policy from a local broker,or an electronic internet immediately verified policy?  Is the agent selling policies from un-rated insurance companies? This knowledge will assist you enormously in the regrettable event of an accident

Most Mexico Car Insurance policies do not cover Vandalism or Partial Theft, but coverage may be included by with the better programs. Car Insurance for Mexico is offered on a “named perils” format. “Full Coverage” includes Damage to your automobile. Hundreds of US insurance brokers, gas station outlets, towing companies etc. offer policies at the border, but you should ask yourself how many agents specialize in Mexico Auto Insurance exclusively? Half a dozen ?

For knowledgeable Mexican Car Insurance information look directly for agents who do not sell Mexico policies as a sideline, but as a specialty. You might be interested to know that many agents sell car insurance from non-rated insurance companies who then pay them larger commission? There is only one way they can afford to pay higher commissions and that is by restricting the policy wording or limiting claims payments..

As the economy proceeds in a state of uncertainty, it might be most important to get good value for your money by buying a Mexican Insurance policy from a financially secure insurer.

You’ll benefit by buying coverage with an experienced specialist. Remember, everybody is always pleased and believes they found a fantastic deal till they have a claim!

 

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