If you are an American planning to drive into Mexico, you will need to have a Mexican car insurance policy. This is because American car insurance is not recognized in Mexico and you might end up landing in trouble.
The good news is that Mexico car insurance is highly affordable. To get the best deal, it is important to know about the factors that determine the cost of your car insurance policy in Mexico. Let’s have a look.
Difference between Mexican and US Car Insurance
Although the US and Mexico are in close proximity, there are separate legal jurisdictions. This is why your US car insurance policy won’t work in Mexico. Even if you reside in Texas, Laredo or other areas closer to the border, you are still required to buy a separate car insurance policy.
What Influences Your Mexico Car Insurance Costs
- The value of your car
The value of your car on the road is in direct relationship to the cost that you have to pay for insuring your vehicle. The factors that determine the worth of your car include its make, model, and age.
- The type of coverage
It goes without saying that the cost of your car insurance is dependent on the type of coverage that you choose for your car. If you choose the lowest levels of liability coverage, you will have to pay less, and vice versa.
However, you must not choose low coverage just because it costs less. Buying more coverage insures you better and provides better protection in case of an accident.
- Your driving record
How clean is your driving record? Have you received a lot of tickets, or have had a lot of wrecks? Well, this might signal your insurer that you are a troublemaker, and therefore, your insurance could cost more.
On the other hand, if you have a clean driving record, you are likely to close a reasonable deal.
- The length of your stay
The cost of your car insurance is also determined by how long you plan to stay in Mexico. The longer you stay, the more you pay. Thus, we will highly recommend you to get insurance only for the number of days you plan to stay.
However, if you visit Mexico frequently, you might want to keep your policy continuously so that you don’t have to buy it now and then.
- The place of your travel
You might not have seen this coming but the cost of your Mexican car insurance is also dependent on the places you visit. If you are planning to visit accident-prone areas like rural Mexico or border cities like Juarez and Tijuana, you are likely to pay more.
The Next Steps
If you are planning a trip to Mexico anytime soon, make sure that you buy appropriate Mexican car insurance keeping your requirements in mind. For more details, contact us today.