Mexican Insurance Policy Considerations: Choosing Reliable Companies

Mexican insurance,Mexican auto insurance,Mexico insurance

Mexican Insurance Driving Adventures In Baja California

Mexican Insurance Policy Considerations: Choosing Reliable Companies

In order to secure a good quality Mexican Insurance, savvy travelers begin by reviewing the financial strength , and claims paying ability of a few Mexican insurance carriers as a first step, and then comparing online coverage and rates that meet their needs as a second step.

As Mexico practices Napoleonic law, it is vital that you protect yourself from the possibility of being “jailed” in the event you are found at fault in an auto accident. All US and Canada auto insurance policies have territorial exclusions for “Liability” coverage in Mexico and most domestic insurers do not cover collision for your vehicle within Mexico.

Purchasing Mexico Auto Insurance by Mexican Insurance Store from an independently rated insurance company who combines adequate “liability” limits, with value oriented features and benefits is the goal when purchasing insurance for Mexico. This method is nearly impossible to apply if you buy coverage at one of the border sellers, however over the past few years it is getting easier to research a policy that can be understood, and can be purchased less expensively, if you purchase coverage online over the internet. Look for Mexico Insurance specialists.

In fact, the best Mexican Insurance deals are now online.

At a minimum, look for Mexican Insurance companies with an “A” rating or higher in the United States who are admitted and authorized to sell Mexico insurance. If any website doesn’t show right on the opening page that their Mexican  insurance company is “A” Rated by A.M. Best in the US (this includes Mexico Insurance Companies), then you can bet that the website is selling  Mexico insurance from an un-rated or non-rated insurance company. A.M. Best and Standard and Poor’s (who rate global, foreign, and domestic insurers) are considered to be the industry standard rating agencies within the worldwide insurance marketplace.

In fact, many insurance companies do business with other insurance companies (Reinsurance) and the minimum standard for all but a very few insurers is an A.M. Best’s Rating of “A” as a MINIMUM. When purchasing any type of Mexican insurance, buyers should ask themselves a few questions such as:

Can I buy Mexico insurance coverage from an insurer who has an “A” Rating for financial strength and claims paying ability or am I being asked by an agent or a broker who runs a small website or a local neighborhood agency to accept and purchase coverage from an unrated Mexican insurance company who in turn may pay the agent more commission in order to peddle bare bones coverage? (Keep in mind, annual written premium or the size of any insurance company as a measure of strength or claims paying ability is a questionable measure of fitness.) The usual response to this question when an agent does not wish to reveal the true nature of your risk is to say “Why they are the first, second, third etc. largest insurer in (any country).”

First look at the Mexico insurance company rating ( “A” is Standard ), next the Mexican insurance policy limit and features, and finally the price.

Using this professional Mexico insurance purchasing method will help you evaluate and compare rate quotes on a clear apples to apples basis that will help you get what you pay for should you ever be involved in a car accident or have a loss in Mexico.

Mexico Auto Insurance by Mexican Insurance Store sells A or A+ independently rated Mexican insurance and each Mexico insurance policy comes with Roadside Assistance at no additional cost to you.

 

 

{ 1 comment… read it below or add one }

Leroy Barribeau July 19, 2013 at 5:45 pm

Before signing up with my Mexican insurance company, I did some research to help me find the best options. And yes, I did sign up with a company with an A rating.

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