Why buy Mexico Car Insurance?
The answer is simple. Would you drive your vehicle in the US without car insurance? Of course not! Often people's car is their second biggest asset behind their home. Leaving your car uninsured jeopardizes, not only your car, but your other assets as well. Furthermore, it's against the law not to carry car insurance. What does this have to do with Mexico car insurance? US policies generally limit their coverage to the US and Canada, but EXCLUDE Mexico. Meaning you have no coverage in Mexico, unless you purchase a specific Mexico Insurance policy to cover you. In addition, similarly to the US, Mexican authorities require that US plated vehicles carry liability insurance underwritten by a Mexican insurance company. In short, it's the law.
In other words, you need Mexico car insurance for the same reason you need car insurance here in the US i.e. to protect yourself and to follow the law.
Many times people purchase Mexico car insurance because their finance companies require it. This is because finance companies understand the risks described above. Through their experience, companies like GMAC and Ford Motor Credit Corp. have developed coverage requirements related to Mexico Car Insurance. Obviously they require coverage for Physical Damage and Theft, but in addition, they require at least $100,000 CSL in liability insurance and fixed deductibles. If your vehicle is financed, be sure to find out whether or not your finance company has similar requirements. This can save you a lot of time and headache down the road.
What kinds of coverage options are available in Mexico?
There are many coverage options in the Mexico insurance market. Some of these options include:
Coverage automatically included (Limit Depends on your Selection)
- Liability - Coverage available up to $300,000 (CSL)
- Medical Payments – Coverage available up to $25,000 CSL
- Legal Assistance – Coverage available up to $25,000
- Roadside Assistance
Optional Coverage
- Physical Damage/Total Theft – Available on all policies with physical damage coverage
- Partial Theft/Vandalism – Only Available on extended policies
What types of vehicles are eligible for coverage?
Mexico insurance coverage is not only available for cars, but also for the following vehicle types:
- Car/Truck/Van/SUV
- Motorcycles
- RVs and Travel Trailers
What company underwrites the Mexico car insurance coverage?
In order to ensure you get the best price and coverage possible, there are several companies you can choose from. Each is either A rated according to AM Best, or is the Mexican Subsidiary of an A rated Insurance Company. Company Availability varies by state, but may include one of the following?
- ACE Seguros, SA
- Genworth/HDI Seguros
- Grupo Nacional Provincial
Get a quote online today!
If you do not feel comfortable purchasing online, would like more information, or prefer to talk to a real person please call the Mexico Insurance Professionals at 1-877-774-2868.
