Rated or Un-Rated Mexico Auto Insurance – Car Insurance Online Review!
There are numerous differences between US, Canadian and Mexico automobile Insurance policies. Mexico practice of law dictates that only companies who are certified and allowed within Mexico can provide “liability” coverage for bodily injury or property damage you are deemed to have done 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) Take a minute and check with your US or Canadian insurance company before you leave on vacation. 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 you cause to others are settled on an “actual cash value” basis, guided by Insurance Law. Review Kelly Blue Book in the US for accurate Mexico vehicle valuations.
All claims must be placed in Mexico for insurance coverage to apply. Mexican Car Insurance rates, coverages, and claims paying ability vary greatly among Mexican insurers. It’s OK to ask questions such as, does the insurer include Legal Assist, Bail Bond, and Roadside Assistance and is it included in the rate? Are large claims processed in the US, making it easier on the insured so that you do not need to make extra visits back to Mexico to complete legal claims issues? Does your insurer allow repair of your vehicle in the US or Canada, not simply Mexico? Are you purchasing a snail mail paper policy from a neighborhood agent? or an electronic easily verified policy? Is the agent selling policies from un-rated insurance companies? This knowledge will help you greatly in the event of a car accident
Most Mexican Car Insurance policies do not cover Vandalism or Partial Theft, but coverage may be included by with the better programs. Insurance for Mexico is sold on a “named perils” basis. “Full Coverage” includes collision coverage for your car. 100s of US brokers, filling station*, towing companies and offer coverage at the border, but how many agents specialize in Mexican Auto Insurance and ONLY Insurance for Mexico? Maybe 6 ?
For knowledgeable Car Insurance for Mexico information look directly for agents who do not sell Mexico policies as a sideline, but as a specialty. Numerous agents sell car insurance from non-rated insurers who generally pay higher commissions? The only way they can afford to pay higher commissions is by limiting what is covered, or by reducing or trying to skimp on claims.
As the economy proceeds in a state of uncertainty, it might be most important to get good value for your money by buying a Mexico Auto Insurance policy from a financially secure insurer.
You’ll benefit by buying coverage with an experienced specialist. Remember, we’re always satisfied and we always believe we have found a fantastic policy, until we have a loss!
