Check Mexican Insurance Company Ratings Before Buying Car Insurance for Mexico!

You should never just buy Mexican insurance online without doing your homework. While it’s way better to buy Mexican insurance online than at the border, you still need to take a few small precautions. One very important step to take is to check each car insurance for Mexico companies ratings with organizations like A.M. Best and Standard & Poor’s. Those ratings reflect the financial stability of the Mexican car insurance insurance company. Financial stability is important. If you buy Mexican car insurance at mexicaninsurancestore.com from a provider that is on unstable financial footing, you might be out of luck if you need to file a claim. Checking providers’ ratings is easy thanks to the Internet. Learn more about this process below.

Advertised Ratings

In general, Mexican insurance companies that advertise their ratings with Standard & Poor’s and A.M. Best are in pretty good shape. After all, the only providers that will willingly advertise their ratings are the ones that have great ratings. As you browse online, keep your eyes peeled for the A.M. Best and Standard & Poor’s badges on Mexican insurance providers’ websites. If the provider has a great rating, it should be proudly displayed right on its main webpage. If you’re unable to find information about a provider’s ratings, it could be because the company is not telling you everything.  After all a good majority of the Car Insurance for Mexico companies policies especially sold at the border have NO Rating. Thats right, they are UNRATED.

Hidden Ratings

Mexican car insurance providers that aren’t forthcoming with their ratings with Standard & Poor’s and A.M. Best often have something to hide. They don’t want travelers to see their  ratings or lack of any rating, so they keep them quiet. You can still sometimes track them down yourself, but you should take the fact that they’re hidden as evidence that something is amiss. After all, there are plenty of Mexican insurance companies that willingly put their ratings right on their websites. Why should you waste your time with a company that tries to keep important information like this from you?

Be a Savvy Mexican Insurance Shopper

It’s not worth it to buy Mexican car insurance from a company that has poor ratings. Who knows whether they can pay the next claim? Even if you’re able to save a little money, it could end up costing you dearly in the long run. You need to plan for any eventuality. If you’re involved in an accident, you’re going to need to file a claim. If your insurance comes from a company that has bad ratings or even worse NO RATING, you could be in for a rude awakening when you file that claim. Keep that in mind and act accordingly. Mexico is the last place you want to purchase just a piece of paper.