There are numerous differences between US, Canadian, and Mexican Insurance policies. Mexico practice of law dictates that only companies who are certified and allowed 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 insurer before you leave on vacation. Car Insurance for Mexico at Mexican Insurance Store 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 insurers with the best reputation for paying claims fairly tend to be rated companies. (Its also safer to buy from a Global Insurer) Claims for Property Damage to 3rd parties are finalized on an actual cash value basis, guided by Mexico practice of law. Review Kelly Blue Book in the US for accurate Mexico vehicle valuations.
All claims must be placed South of the Border for insurance coverage to apply. Mexican Auto Insurance at Mexican Insurance Store, coverage, liability limits, and claims paying ability vary greatly between different Mexican auto Insurance companies. You should inquire as to whether Legal Assistance, Bail Bond, or Roadside Assistance for no extra cost? 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 coverage allow you to repair your damaged vehicle in the US or Canada, as well as Mexico? Are you purchasing a snail mail paper policy from a neighborhood agent? or an electronic easily verified policy? Is the broker offering un-rated insurance company policies? This information will help you tremendously in the unfortunate event of an auto accident
Most Mexico policies do not cover Vandalism or Partial Theft, but coverage may be included by with the better programs. Car Insurance for Mexico at Mexican Insurance Store is written on a named perils basis and Full Coverage includes Physical Damage to your vehicle. 100s of US brokers, filling station, towing companies and offer coverage at the border, but how many agents specialize in Car Insurance for Mexico at Mexican Insurance Store and nothing else? Half a dozen ?
For knowledgeable Mexican Insurance Information look directly for agents who do not sell Mexico policies as a sideline, but as a specialty. Numerous agents sell un-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 Car Insurance for Mexico at Mexican Insurance Store from a financially secure insurer.
You’ll benefit by buying coverage with an experienced specialist. Everyone is always happy and thinks they got a GREAT deal, until they have an accident!