Tuesday, January 25

Some Frequently Asked Questions About Mexican Auto Insurance

We know that Mexican auto insurance is compulsory if you drive your vehicle in its boundaries. The Mexican law holds out of the country drivers financially liable for any damages if they get involved in an accident. To meet these financial liabilities, either you got to have Mexican auto insurance or enough cash. The expense can reach as high as 30 million dollars considering physical injuries. This shows that the cheapest way is to have a well valued Mexican auto insurance quote from reputed insurance providers. 

So, the first question which is “do we really need Mexican auto insurance?” is now clarified. Let’s go through some other doubts people face regularly. 

Even if my Canadian auto insurance offers 75-mile coverage in Mexico, do I still need it?

Yes, you do. Whatever the case may be, the Mexican law doesn’t hold any US or Canadian auto insurance valid in their boundaries. No matter if they provide coverage in the Mexican boundaries, it doesn’t hold suitable for their law. It won’t be legally obligated to pay for damages you cause in an accident. If any driver wants to show proof of liability for any injury or physical damage, he must have Mexican auto insurance. 

What is the difference between different Mexican auto insurance quotes?

Contradictory to what many believe, all Mexican auto insurance quotes are not the same. Some providers are well established and have enough experience to treat their customers professionally. While some of them have just entered the insurance industry and do not have a very well organized claim process. Although the latter will offer you cheaper policies, the former is more trustworthy. Also, the type of plans every company offers is different. It makes every insurance provider distinct in the market. 

What features to look for in an insurance provider?

It’s about creating the right balance between premium and trustworthy claim process. If you fall for very cheap policies, most probably the company is not that experienced to handle a large customer base. On the other hand, if you want trustworthy services, the premium to be paid will be a little higher. So, the Mexican auto insurance companies are in plenty but not so easy to rank one over the other. The company that promises premiums on the lower side and have a considerable established claim in process, go for it. 

What is partial and full coverage? What will be the steps in case of partial theft or damage?

There are cases where the vehicle is partially damaged or partially stolen. In this case, the evaluation of damage or theft is done by the company based on prior terms and conditions. Mostly, the compensation is given for the market value of whatever has been damaged/stolen. In case the part totally replaced, the entire charges will be redeemed. If it needs some repair, the insurance company will communicate with the repairing agency to evaluate the cost. If the vehicle is wholly damaged or entirely stolen, you just need to pay from deductibles and the market value of the car will be compensated. 

Even if you drive multiple vehicles in Mexico, some policies provide a discount for an overall package to cover all of them. You need to recognize your own situation, medical, capacity, coverage features and convenience in the training process to reach a conclusion of selecting a policy. Each of these factors is either directly or inversely proportional to the cost of Mexican auto insurance.

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