Are you planning a trip down to Mexico? Whether it is for a relaxing vacation or a business trip, you have to get valid Mexican auto insurance as part of your trip preparations. A good insurance policy helps you be prepared for the unexpected and stay conformed to the local laws and regulations.
One way to gauge an insurer is to check its rating. Check an insurer's rating and who issued it before you buy.
Buying Mexican Auto Insurance
Mexican federal law requires vehicles on federal roads and bridges to carry third-party liability insurance (Ley de Caminos, Puentes y Autotransporte Federal, art. 63 Bis). The legal requirement does not erase the fact of why you need insurance in the first place. You need auto insurance to:
- Cover costs of any damage or treatment costs for any injuries caused by an accident
- Cover any legal expenses and seek legal assistance in case of an accident
- Get additional assistance like towing assistance and repairs in case of a breakdown or accident
- Get theft protection, round the clock service, and more
You need auto insurance to cover all kinds of liability and make sure you are not left stranded in a foreign country when taking a road trip. As it stands, no amount of planning can be enough to tackle all kinds of unforeseen incidents. Insurance is like a strong safety net that helps you in case of such emergencies. But you only get to have the benefits you want if you manage to select the right policy with the right trustable and authentic insurance vendor.
Baja Bound's FAQ says US and Canadian insurance is not considered proof of financial responsibility under Mexican law, so you will want a Mexican policy. But finding out whether a vendor is indeed authentic can be a difficult task when you are researching from outside the country. You need to consider various factors like:
- The actual coverage provided
- The premium cost and terms
- The duration of the policy
- Customizable options
- The financial stability of the insurer
- The level of support provided, and in which language
How Easy It Is To Make A Claim
Besides these common inquiries, you will also have to look into whether the insurance provider is licensed. Also, have a look at the Mexican auto insurance ratings to test the waters. Ask how a claim is filed: Baja Bound's FAQ says claims on its policies must be filed in Mexico before returning to the US, by calling the number on the face of the policy.
Third-party liability is what federal law requires on federal roads (art. 63 Bis), and it is the least amount of coverage. It can be insufficient when you are in an actual emergency. So you will have to look into how well the insurer can provide additional services and whether your premium cost justifies the services provided.
Before you buy, check that the policy document spells out details such as:
- Valid name and address of the concerned parties
- Proper description of the asset insured
- Risk descriptions
- Amount insured, coverage duration
- Insurance premiums cost
- Any agreed-upon clauses between the parties
- Exclusions and limits in coverages
- Terms and form for premium payment
- Any details regarding intermediaries
- Policy revision terms
- Choice of jurisdiction clause
That said, buy Mexican insurance before landing in the country to avoid any hassles. Check out your options now.
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