Whenever you’ve planned to make a trip to Mexico, you’ve surely had the chance to receive a truckload full of advices telling you to purchase a Mexican Auto Insurance, if you are to drive in Mexico.
Most people have a very wrong presumption that driving in Mexican Insurance, regardless of the how and from where it was bought will be enough to secure you against any kind of accident that may take place. However, that is not true. I know it isn’t, and you know it isn’t. What is true is the fact that the extent to which you will be backed by insurance depends solely on the terms and conditions of the insurance company and not on your decision to purchase one.
The internet lets you to verify, if what you need in insurance is present in your company’s policies and make the right purchase choice. Some things you should look for in a Mexican Auto Insurance to get the most out of your investment are listed below.
- Look for a website with Surplus Line Broker certificate:
A surplus or excess line broker certificate is given to brokers who have direct agreement with the Mexican insurance firms and is certified to sell international insurance coverage within the U.S. It is a sign that all information on these sites is correct and reliable.
- Look for the Insurance Coverage:
After finding a genuine website that markets Mexican insurances, fill in your firm quote and look for the coverage that the various policies provide. According to your need and situation, select the policy that suits you best.
- Check if they provide Legal Services and Road Assistance:
This is one of the heftiest amounts that you have to incur in case of traffic accidents in Mexico and you should not buy an insurance that does not cover these costs. These cover all those costs such as court cost, attorney fees, or bond payments and towing costs, blowouts, locksmith professionalsthat might cost you a fortune otherwise.
- See if it allows you to repair your vehicle in your home country:
Most Mexican insurances only pay for repairs within Mexican borders or pay according to Mexican labor rates, which are lower than American rates. In that case, you might need to leave your vehicle behind or pay for the repairs from your own pocket. Go for an insurance that lets you repair your vehicle in the country of your choice and avoid the hassle.
- See if it provides Airplane tickets home:
In case of total theft of your vehicle, see if the policy has provision for buying you plane tickets to home. Check the number of plane tickets it will provide for, usually being 4 or more for you and the passengers of your vehicle.
- Check the Obligation Limits:
Verify the amount that the policy will cover for damages created to third parties. While $50,000 is said to be the minimum considerable amount in the Mexican market, some companies can draw it out to $300,000. It might cost a bit higher annually, but will save you thousands in case of major damages to third parties.
- Check the Medical Evacuation and Clinical Payment Provisions:
See what amount of the clinical payments, in case of injuries, the policy will cover for you and your passengers. $2,000 per person is the least to be considered, but you will find that many policies provide much greater limits. Also, check the provisions of medical evacuations during serious illnesses or life-threatening situations.
- Calculate your Deductibles:
Mexican Auto insurances have two deductibles: Physical; starting at $500, and Theft; starting at $1000. The higher your vehicle is valued at, the more your deductibles. However, you have an option of choosing fixed deductibles, which are locked at $500. As there are some companies who might charge over $25,000 in deductibles, it is essential to calculate your deductibles to prevent extra expenses.
Once you’re done going through the listed policy terms, compare the various policies and its offers to choose the real Mexican Insurance that you actually need. Purchase it, print it, pack it, and you are ready to drive to Mexico leaving all the stress locked up at home.