The Basics Of Mexican Car Insurance Coverage And Deductibles
One of the things that affect how much you will pay for Mexican car insurance coverage is the amount of your deductible. The deductible is the portion of the bill that has to come out of your pocket. The insurer won’t process your claim if you don’t pay the deductible. The general rule of thumb is that the lower the deductible is, the more expensive your Mexican insurance rates will be. However, in Mexico, you also have to decide between fixed and variable deductibles. Learn more about Mexican insurance rates below.
What is a fixed deductible?
Most people prefer to have Mexican car insurance coverage that has clear deductibles. In other words, they like to know how much they will have to pay upon filing a claim. If you fall into that camp, you will want online Mexican insurance rates with a fixed deductible. You will know right from the start how much you’ll have to pay. Then, if you are involved in an accident, you’ll know precisely how much you’ll owe.
What is a variable deductible?
As you may have guessed, a variable deductible varies depending on a few things. The main thing that affects the amount of the deductible you’ll owe is the value of your car. Unfortunately, you won’t have a clear idea about how much you’ll have to pay until you go to file your claim. So you may be in for an unpleasant surprise. The main reason people opt for variable deductibles is that they usually result in lower premiums. Online Mexican car insurance coverage is cheap, to begin with, so why not just choose a policy with a fixed deductible?
Mexican car insurance coverage – Owe a reasonable amount in the event of an accident
Like most people, you should be able to enjoy your vacation in Mexico without getting into an accident at all. If you are involved in one, your Mexican car insurance coverage will make it, so you only have to pay a small amount. It will be cheaper than paying for the other driver’s medical and repair bills. With that in mind, check Mexican insurance rates before heading south of the border.