Check that the underwriter is licensed with Mexico's national insurance regulator, the CNSF — an unlicensed policy does not satisfy the legal requirement no matter what you paid for it.
When purchasing Mexican auto insurance, it’s worth understanding what insurance company ratings tell you. At SmartGringo, we partner with top-rated providers like Chubb and HDI to ensure you receive the highest level of protection for your vehicle in Mexico.
What Insurance Ratings Measure
Mexican auto insurance ratings are an agency’s opinion of an insurer’s financial strength: its ability to pay the claims it owes. Check who issued the rating and when.
What a Rating Does and Doesn’t Tell You
- Financial Strength: This is what a rating measures.
- Claims Handling: Ratings do not measure how fast or how well claims are handled. Read the policy terms and look for customer reviews.
- Customer Service: Also not measured by a rating. Check the support channels and languages the broker and insurer offer.
How SmartGringo Can Help
SmartGringo explains Mexican insurance options and links you to Baja Bound, the broker that quotes and sells them. Baja Bound's about page and auto page name HDI Seguros and Chubb Seguros as its insurers; check each insurer’s current rating yourself before you buy, and read the policy Baja Bound issues for what is covered.
Tips for Choosing the Right Auto Insurance Provider:
- Research Ratings: Always check the ratings of an insurance provider before purchasing a policy. Look for companies with strong financial ratings from trusted agencies.
- Compare Policies: While cost is important, don’t compromise on the quality of coverage. Ensure that the provider offers adequate liability limits, roadside assistance, and comprehensive coverage.
- Check Customer Reviews: In addition to ratings, consider customer reviews for insight into the insurer’s service quality and responsiveness.
Weighing a Lower Rating
A lower rating means the rating agency has less confidence in the insurer’s ability to meet its obligations. Weigh that against any upfront saving before you buy. It’s better to invest in coverage from a top-rated provider to ensure peace of mind.
Get a Quote from a Top-Rated Provider
Get a quote from Baja Bound online today, compare the limits on offer, and drive in Mexico with a policy you have read. SmartGringo earns a commission on the referral and does not sell or guarantee any coverage.
Driving down this month? Get a Mexican car insurance quote.