How to Get Low-Cost Mexican Auto Insurance?

How to Get Low-Cost Mexican Auto Insurance?

An unexpected event can severely impact your pockets while driving your car across the Mexican border. If you also love to ride, crossing the Mexican borders, whether for leisure or business, you must know that your home insurance will not cover you in such a case. Having Mexican auto insurance is necessary to drive in Mexico without being concerned about unexpected financial stress. If your budget doesn’t allow you to get an insurance policy for your car to drive in Mexico, don’t worry. You don’t need to cancel your plan to get auto insurance. Instead, you can opt for low-cost Mexican auto insurance. The following article will look at getting a low-cost Mexican auto insurance policy.

Why do you need Mexican auto insurance?

In most of the states of Mexico, having auto insurance is mandatory for all drivers to drive their cars on the roads of Mexico. However, while crossing the borders, the Mexican authorities will not ask you. But suppose somehow you get into an accident while driving in Mexico. In that case, the Mexican authorities will not recognize your existing home auto insurance, and you will be sent to jail. Your existing auto insurance will not be able to cover you in such a case. So, to be safe from financial stress, it’s good to have Mexican auto insurance.

What are the factors that may influence the cost of your insurance?

There are several factors that can affect the cost of your insurance policy. Here are some:

  • The duration of your stay in Mexico may affect the premium cost of your car insurance. The longer you stay, the longer your Mexican auto insurance will be active and cost you more. So, if you intend to drive in Mexico only occasionally, one-day auto insurance will suffice. However, having a year-long active auto insurance policy might suit you and be cost-effective if you drive more often in Mexico.
  • Your car’s value may affect your insurance policy’s premium cost. The cost of the premium for your Mexican auto insurance policy will depend on your car’s age, make, and model. The value of your car also decides the amount the insurer will have to pay after filing a claim in the event of total theft or vandalism.
  • Your driving record affects the cost of deductibles you must pay to the insurer. Suppose you pose a negative record of your driving history. And had gotten many tickets and wrecks. In that case, the insurer will charge more deductibles from you to address the cost risk you pose to the insurer. 
  •  How much coverage you buy also decides the premium cost of your insurance policy. If you only buy the most basic coverage for your car, you might pay less for the deductibles. But remember that buying more coverage at higher limits can help you by providing more protection in case of an accident.

Tips to Get low-cost Mexican auto insurance

The relationship between the United States and Mexico is close. Despite that, an individual must have separate auto insurance for Mexico. We have already mentioned that Mexican authorities don’t recognize the insurance from your home country. The difference between the jurisdiction systems of both countries makes an individual buy two separate auto insurance policies. This puts more weight on the pockets of individuals who live in states like Del Rio, Brownsville, Laredo, and McAllen, Texas, which are very close to the borders of Mexico. So, here at SmartGringo, we have shared some tips to help you get low-cost Mexican auto insurance.

  • While buying temporary Mexican auto insurance, compare the different insurance policy plans provided by the insurance provider that fits your needs. And make sure to cut down on the cost of the coverage you don’t need while keeping your risk tolerance and your family’s needs in mind and get just the coverage that you need.
  • If you are planning to visit Mexico for a short period, opt for short-term auto insurance, which generally ranges from one day to six months.
  • Check the age of your car. If you own an old car, then make sure to avoid buying comprehensive coverage. In that case, you can go for only collision coverage. Collision coverage will reimburse you for the damage caused to your car due to the collision. Because paying higher deductibles for an old car might not be worth it.

Conclusion:

Having auto insurance for Mexico will protect you in many ways. But, no one wants to spend their money on separate expensive policies. But as you know, having Mexican auto insurance is a must to drive safely on Mexican roads. So, to help you on saving, we do offer low-cost Mexican auto insurance for your trip to Mexico; get a quote today here at SmartGringo, backed by Baja Bound. We will help you customize your insurance policy according to your needs and will find the most appropriate policy.

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