Are you planning a trip down to Mexico? Whether it is for a relaxing vacation or a business trip, you have to get valid Mexican auto insurance as part of your trip preparations. A good insurance policy helps you be prepared for the unexpected and stay conformed to the local laws and regulations.
One of the best ways to know the quality of service provided by an insurer is to check the Mexican auto insurance rating. Several comparison sites and services provide ratings for the various insurers in Mexico and publish their results every year. You should always go with insurers who manage to secure an A rating or above.
Buying Mexican Auto Insurance
As you should know already, it is regulated by Mexican laws that anyone taking a vehicle to the Mexican roads must get insured. Otherwise, you could land in some serious legal issues and may not be able to gain a vehicle permit to enter Mexico. The mandatory insurance requirement does not erase the fact of why you need insurance in the first place. You need proper medical auto insurance to:
- Cover costs of any damage or treatment costs for any injuries caused by an accident
- Cover any legal expenses and seek legal assistance in case of an accident
- Get additional assistance like towing assistance and repairs in case of a breakdown or accident
- Get transport service back to home in case of an emergency
- Get theft protection, round the clock service, and more
You need auto insurance to cover all kinds of liability and make sure you are not left stranded in a foreign country when taking a road trip. As it stands, no amount of planning can be enough to tackle all kinds of unforeseen incidents. Insurance is like a strong safety net that helps you in case of such emergencies. But you only get to have the benefits you want if you manage to select the right policy with the right trustable and authentic insurance vendor.
Your existing insurance will most probably not be considered valid, and you will have to get valid insurance from a Government approved Mexican insurance vendor. But finding out whether a vendor is indeed authentic can be a difficult task when you are researching from outside the country. You need to consider various factors like:
- The actual coverage provided
- The premium cost and terms
- The duration of the policy
- Customizable options
- The financial stability of the insurer
- The level of support provided. You should be able to seek assistance 24/7, all round the clock, and in the language of your preference
How Easy It Is To Make A Claim
Besides these common inquiries, you will also have to look into whether the insurance provider is licensed and conforms to the Mexican civil liability standards and is recognized by the Mexican Judicial System. Also, have a look at the Mexican auto insurance ratings to test the waters.
While Mexican law mandates that you only need auto liability insurance to gain a permit, it is the least amount of coverage. It can be insufficient when you are in an actual emergency. So you will have to look into how well the insurer can provide additional services and whether your premium cost justifies the services provided.
You should also look into the insurance laws and regulations in Mexico to see if your insurer can provide a contract that conforms to all the rules. According to Mexican Insurance Contract Law, a valid contract must include details such as:
- Valid name and address of the concerned parties
- Proper description of the asset insured
- Risk descriptions
- Amount insured, coverage duration
- Insurance premiums cost
- Any agreed-upon clauses between the parties
- Exclusions and limits in coverages
- Terms and form for premium payment
- Any details regarding intermediaries
- Policy revision terms
- Choice of jurisdiction clause
That said, buy Mexican insurance before landing in the country to avoid any hassles. Check out your options now.
