Mexican Insurance Liability Costs In Mexico
Traveling to Mexico is an exciting event as it offers the tourist so much. You can laze around on the beautiful beaches, go hiking, view all the ancient buildings, or simply relax.
Prior to going on a trip to Mexico, it is imperative that you become familiar with the legal requirements within the country. Many people go to Mexico expecting it to have the same laws as those in the US or Canada. Their laws are very different and if you find yourself in a legal bind, you need to know your rights.
Comparison Between Mexican Insurance Liability Costs in US and Mexico
Mexican Insurance Liability Costs are lower in Mexico than in the US. Mexico has no punitive damages, but actual damages. This implies that if you are involved in a vehicle accident while driving on Mexican roads, you will not get as much financial assistance and your chances of being reimbursed for damages are lower than in Canada or the US.
Vehicle accidents could result in a range of damages claims. This makes it vital for you to have suitable Mexico insurance liability limits, with add-ons. If you are involved in a car accident, you may be liable for actual damages, which are the damages caused to the other person’s car, their medical expenses and lost wages. You may also be required to pay Mexican insurance liability costs for dependents, which can be similar to damages for pain and suffering. It is not often requested in Mexican courts, but it could amount significant total damages. The judges in Mexican courts are at liberty to stipulate other Mexican insurance liability costs they may deem appropriate. This is usually dependent on the facts related to your particular case.
Types of Mexico Insurance Liability Limits
There are normally two types of liability costs in Mexico. These are either civil or criminal liability. In civil liability cases there is a limit on what can be claimed, which is set by the court. In the event that maximum benefits are being looked for, this will not be the route to follow. In criminal liability cases, the damages claimed are not subject to the limits that are set in civil liability cases. In this event, it is possible to handle the case yourself.
In Mexico, a person has the option to claim for damage to their property, damage to their vehicle, funeral expenses, medical expenses, moral damages and compensation for dependents in an at-fault fatality.
This is why Mexican insurance liability costs can be significant. Although your liability exposure will be lower than if you were involved in a similar accident in the US, you should ensure that you have adequate Mexico insurance cover to help you in the event of a damages claim against you. You can purchase Mexico insurance quite easily online. You can obtain it at the border post, but if you choose to buy it online, you will have sufficient time to compare what is available, the costs and the benefits. You can click here to purchase your Mexico insurance policy and check your potential exposure to significant Mexican insurance liability costs per State.
It is advisable that you opt for some of the additions to the basic policy, such as medical assistance, legal assistance and bail bond assistance. You may need to hire an attorney if you are fault and if you do not have this option available to you, you could spend several nights in a jail cell.
It is important that you are fully aware of your legal rights in Mexico and potential Mexican insurance liability costs before you go on your trip.