Tips to Get a Low-Cost Mexican Auto Insurance Policy

Tips to Get a Low-Cost Mexican Auto Insurance Policy

Do you live in the U.S. or Canada? Do you cross Mexican borders more often? Are you well aware of Mexican laws? Well, you must know that your auto insurance from your home country won’t cover you within Mexican borders. I know that’s quite a bad thing and can increase the burden on your pockets as you’d have to purchase separate auto insurance for Mexico. But you don’t have another option to go for; as a result, you have to end up buying separate Mexican auto insurance for your car.

If you are concerned about the additional expense of paying for deductibles. Don’t worry; in the following article, we will see some tips for getting low-cost Mexican auto insurance. So, if you also want to save on your Mexican auto insurance, make sure to scroll till the end.

Is it Necessary to Have Mexican Auto Insurance? 

Yes, it is. Having Mexican auto insurance is mandatory for all drivers who drive their cars on Mexican roads more or less often. You can be sent to jail if you are found without Mexican auto insurance during a car accident. Non-Mexican drivers are asked to show their auto insurance as proof that they have enough funds to pay for the damage caused by them. In other words, having liability coverage is the main thing the Mexican authorities ask for. Moreover, your American or Canadian car insurance is not recognized within the Mexican borders. In case you’re found driving without Mexican auto insurance, get ready to face detainment. As a result, buying Mexican auto insurance is the only option.

Tips To Save Money on Mexican Auto Insurance

You already have car insurance on your vehicle. However, you still need to get one more if you are planning to drive to Mexico or visit it more often by crossing the borders while driving a car. You can’t ignore the laws of carrying Mexican auto insurance to drive on its roads. But you can cut down on some of the cost of deductibles on car insurance. Here are some tips for getting a low-cost Mexican auto insurance policy:

  1. Compare different insurance policies: Comparing the cost and the benefits of other insurance policies can help you save a lot of money. The rates for different insurance plans vary from one company to another. Insurers calculate car insurance rates based on factors like age, driving history, and location, but they weigh these factors differently. So, if you spend some time comparing various insurance companies,
  1. Increase your deductibles: Increasing your deductible can help you save money on your premiums. However, you would need to have enough funds in the event of a claim. In simple words, deductibles are the upfront amount that you have to pay when making a claim and aren’t covered by the insurers. For example, if your repair bill is $3000, you must pay $1000 out of pocket, and the remaining $2000 will be paid by the insurer once you have paid the $1000.
  1. Compare the cost of insurance before purchasing a new car: All auto insurance companies set the price of the premiums based on your vehicle. If you are planning to get a new car, make sure it comes with additional features that reduce the risk of personal injuries and car theft. The reason for doing so is that almost all insurance companies tend to offer more discounts on cars that tend to be more safe. Hence, comparing the cost of insurance for different vehicles can help you get low-cost Mexican auto insurance.
  1. Avoid getting optional coverage on an older car: If you own an older car that isn’t worth even 10 times less than the insurance premium, make sure to avoid getting collision or comprehensive coverage on your car. Collision coverage protects you against financial loss if your vehicle collides with another vehicle or object or if it flips over. Whereas comprehensive coverage reimburses you in the event of car theft, damage by storms, vandalism, or by hitting an animal. So, now you can decide whether your clunker car needs that protection or not. The amount you would pay as deductibles or premiums for both of these coverage can be used to get a new car by making a down payment and will also help you get a low-cost Mexican auto insurance policy. 
  1. Claim discounts from your insurance provider: You can take advantage of your good driving and credit history to get discounts on your Mexican auto insurance. If you have never violated traffic rules and have never been in any accidents, you can get a significant discount on car insurance. Moreover, a good credit history helps you get a cheap insurance policy. Making re-payments of credit card bills on time and using them below the given limit can help you improve your credit history. So if you already have that, that’s good news because you can easily claim discounts on purchasing an auto insurance policy from insurance providers.

Conclusion:

Driving is one of the best pleasures that one can get while driving on Mexican roads while watching the natural beauty and the side view of Mexico. But, the Mexican government needs their outside travelers to carry separate Mexican auto insurance in order to drive across the southern borders. This can increase the burden on your pockets but wait! You don’t need to cancel your driving trip to Mexico. We have discussed all the methods that can help you get low-cost Mexican auto insurance.

Comparing the rates of different insurance companies seems quite daunting as it requires a lot of time and attention. So why don’t you consider us? SmartGringo is one of the best sites that helps its visitors to help them customize their insurance policy on their own levels of coverage and choose their deductibles as per their budget and needs.

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