Mexican Car Insurance and Deductibles!
When it comes to subjects like Mexico auto insurance, most people’s eyes begin to glaze over almost right away. As unexciting as it may be to learn about Mexican insurance at online Mexican Insurance Store, there’s no denying the fact that it is extremely important. Going down to Mexico without a good policy is a recipe for surefire disaster. All it takes is a single fender bender and you could find yourself sitting in a jail cell. Needless to say, the risks are simply too great. Instead of buying car insurance for Mexico in a random, haphazard sort of way though, you really should learn more about what it entails. One important aspect of such coverage you need to explore is the deductible. This article explains a few key points about Mexico auto insurance and deductibles, including fixed deductibles and variable deductibles.
Dont Get Burned by a Variable Deductible
Depending on the value of your vehicle, a variable deductible may be right for you. Generally, a variable deductible equals a certain percentage of the value of a car or a set amount, whichever is higher. If your car is fairly new, in good shape and has a decent blue book value, then your deductible could be prohibitively high. $500 is a standard deductible charged by many car insurance for Mexico policies. With variable deductibles, 2% of the value of a car is usually used. If 2% of the value of your car exceeds $500, then, it is best to go with a fixed deductible.
The Benefits of a Fixed Deductible
Some people turn up their noses at fixed deductibles because they come along with slightly higher premiums. However, the overall cost of Mexican insurance online is so low it is rather silly to balk at the slightly higher expense of splurging for a fixed deductible. If you end up needing to file a claim, you will love knowing precisely how much you will have to pay out of pocket. With a variable deductible, you could be in for a nasty surprise. For peace of mind, a fixed deductible makes all kinds of sense.
Always Read the Fine Print
At the end of the day, it is up to you to decide between a variable deductible and a fixed deductible. Since you will probably choose to buy your coverage online, always make sure to read through all of the information carefully. It is important to know just what youll be getting when you hit the “buy now” button. Preparing for the worst case scenario is vastly preferable to taking a huge gamble. You not only want to avoid jail, but you want to avoid a major repair bill, too, so choose your insurance wisely.