What Impacts The Mexican Auto Insurance Cost?

What Impacts The Mexican Auto Insurance Cost?

Whether you are a Mexican or a foreigner trying to take a simple road trip to Mexico, anyone who wants to ride their car on Mexican roads needs Mexican auto insurance. Mexican laws mandate that you must carry proper auto insurance that is valid and is provided by a Mexican government authorized insurance provider.

Otherwise, you will not be able to secure a permit to enter the Mexican roadways or the waterways with your vehicle, be it an automobile or a watercraft. And be well informed that most often, your existing insurance will not be able to extend coverage for your vehicle while in Mexico, and they may not be considered valid by the Mexican authorities as well. So, you will eventually buy insurance one way or the other at the border.

What Is The Cost Of Auto Insurance In Mexico?

Buying at the last minute will hurt your purse and end up giving you an insurance product that may not be worth the money you spend on it. And it goes without saying that you get auto insurance for a purpose and not just for the sake of getting the permit. So take time to research and find the best Mexican auto insurance product that fits your requirements well ahead of your trip.

So, where do you start your research? Well, obviously, the first question that comes to your mind would be the cost of the insurance. On average, Mexican auto insurance could cost anywhere from $2 to $40. This figure could vary a lot depending on the coverage, optional services, and other features you may choose. As per the government mandate, you only need liability coverage. But if you need additional coverage, the insurance cost could go higher. Some of the additional or optional coverage provided include:

  • Theft protection
  • Vandalism protection
  • Collision
  • Gap coverage
  • You can also seek special services such as
  • legal assistance in case of an accident,
  • Towing assistance
  • Optional to transport vehicle to home country and get it repaired there

Along with the coverage, the cost of the insurance may also be decided based on the following factors:

  • Age of the vehicle,
  • Make and model of the vehicle
  • Liability limit
  • Duration of the trip
  • Trip destinations

So, make sure you get the relevant details ready while you seek quotes from various Mexican auto insurance providers. You may also have to supply more information such as your name, identification number, license number, any existing policy information and so on.

Get Mexican Auto Insurance Quotes

Get quotes from different providers and choose the one that best fits your needs. Also, ensure you work with only top-rated genuine insurance providers to avoid any troubles later. Take due diligence by seeking customer testimonials, proper referrals, or guidance from review sites to choose the best insurance provider. One more aspect of insurance policies you may have considered would be the language support provided. See if the provider can ensure 24/7 customer support in the language of your preference to avoid miscommunications later on.

This is when SmartGringo helps you out. We help you get quotes from reputed insurance providers so that you are well prepared for your dream journey into Mexico.