Posts Tagged ‘Mexico insurance’
William Kitto was not traveling for his first time in Mexico when he got into an accident near San Vincente, Mexico while driving his friend’s pick-up.The road conditions were bad due to an incoming rain storm, which left him at the mercy of his friend’s Mexican insurance policy.
Bill and his friend were traveling at 30 MPH hour when they rounded a corner to find a Mexican military truck hurtling towards them partly on their side of the road. Unable to avoid the crash, the two vehicles impacted head-on left, sending personnel scattered down an embankment and Bill and his friend into the cliff wall on the opposite side.
Within moments, the Mexican police arrived and one speeds an bruised Bill away to a location unknown to him or his fellow traveler who is left standing roadside. In Mexico, they practice Napoleonic Law, where there is no ‘innocent until proven guilty’-exactly the opposite.
There’s a good reason why savvy travelers buy Mexico Auto Insurance before leaving home.
Bill finds himself in a Mexican detention cell without any contact and without any knowledge of his fate, mostly because at this point he has no way of knowing whether his friend even carried Mexico Insurance. A long time later, guards return to bring him back to the accident scene where he is at least able to reunite with his friend and his friend’s Mexican automobile insurance policy. But it’s not over yet.
In short, Bill spends 8 days in a Mexican infirmary trying his best to remain injured enough to avoid the inside of a Mexican jail; he’s at the mercy of the local authorities, and ancient technology that makes any chance of getting back to the US seem incredibly remote. There were many times when Bill was unsure if he would ever get out of the mess he was in.
In the long run, Bill does attain his tenuous freedom, but only after paying more than ,000 of his own money, even though his friend’s cheap insurance policy covered some of the damages.
Make sure you carry quality Mexico Auto Insurance in your vehicle, make sure you have enough coverage limit, and put your insurance ID cards inside your WALLET.
It can save you hours, weeks, or even months of potential difficulty!
There are numerous differences between US, Canadian and Mexico automobile Insurance policies. Mexico law mandates that only insurance companies which are licensed and admitted within Mexico can provide “liability” coverage protecting you against damages you could do to others. The Republic of Mexico has no policy that dictates insurers to be tested and ranked to evaluate finances or claims paying ability
Your US or Canadian policy may extend physical damage coverage within past the US border for a limited number of miles. (Most do not) For this reason, its a good idea to check with your US or Canadian broker or insurance company before you leave home. Auto insurance for Mexico coverage is sold bit-by-bit, with more than a few unrated insurers reducing benefits in order to appear to be a good value, as there are no “standard” policies.
It should not be surprising, that the insurance companies with the best reputation for paying claims fairly tend to be rated companies. Claims for Property Damage you cause to others are settled on an “actual cash value” basis, guided by Insurance Law. Review Kelly Blue Book in the US for accurate Mexico vehicle valuations.
All claims must be placed in Mexico for insurance coverage to apply. Mexican Auto Insurance rates, coverages, limits, deductibles and claims handling vary among Mexican insurers. It’s OK to ask questions such as, does the insurer include Legal Assist, Bail Bond, and Roadside Assistance and is it included in the rate? Are major claims handled in the United States, sparing you the frustration, and expense of journeying many times to Mexico to fulfill your judicial responsibilities? Does your carrier allow repair your car, pick-up, RV or SUV in the US or in Canada, and not just Mexico? Are you buying a postal service paper policy from a local broker,or an electronic internet immediately verified policy? Is the agent selling policies from un-rated insurance companies? This information will help you tremendously in the unfortunate event of an auto accident
Most Mexico Insurance policies do not cover Vandalism or Partial Theft, but coverage may be included by with the better programs. Insurance for Mexico is sold on a “named perils” basis. “Full Coverage” includes collision coverage for your car. Hundreds of US insurance brokers, gas station outlets, towing companies etc. offer policies at the border, but you should ask yourself how many agents specialize in Mexico Auto Insurance exclusively? Four or 5 ?
For knowledgeable Mexico Insurance information look directly for agents who do not sell Mexico policies as a sideline, but as a specialty. You might be interested to know that many agents sell car insurance from non-rated insurance companies who then pay them larger commission? The only way they can afford to pay higher commissions is by limiting what is covered, or by reducing or trying to skimp on claims.
As the economy proceeds in a state of uncertainty, it might be most important to get good value for your money by buying a Auto Insurance for Mexico policy from a financially secure insurer.
You’ll benefit by buying coverage with an experienced specialist. Remember, we’re always satisfied and we always believe we have found a fantastic policy, until we have a loss!
US and Canadian travelers take extra care in choosing an insurance company at home, but fail to protect themselves adequately while driving in Mexico on vacation or business. This is understandable because Mexico insurance coverage can be confusing.
In Mexico Napoleonic Law is applied and practiced, so it is vital that you have protection against the real risk of being “Detained” if you do damage either property damage or bodily injury to third parties in an accident. Every US and Canadian car insurance excludes “Liability” coverage in Mexico and most domestic insurers will not pay for physical damage to your vehicle while you are motoring South of the Border.
In order to help guarantee the best quality Car Insurance for Mexico coverage, astute travelers start out by examining the finances, valuation, and claims ability and reputation of their Mexican auto insurer and then compare internet coverage and rates online that meet their needs as a 2nd step.
Purchasing insurance from a reliable “A” rated company who provides adequate “liability” limits with value oriented features and benefits is the goal when purchasing insurance for Mexico. This technique is unrealistic if you purchase coverage at one of the border venders, (it’s take it ot leave it) still it is becoming easier to buy a policy that can be reasonably interpreted and can be bought cheaper if you buy online over the Web.
At the very least, explore carriers with an “A” rating or higher (As ranked by A.M. Best, or S and P ) who are admitted and accredited to sell Mexico car policies.
If an internet site offers Insurance for Mexico and does not show boldly right up front on the opening page that the insurer they are selling is “A Rated” insurance or higher by A.M. Best or Standard and Poor’s then they are probably selling insurance company programs that are NOT rated (this includes Mexico Insurance Companies).
A.M. Best, (ambest.com) and Standard and Poor’s (who independently rate global, foreign, and domestic insurers) are regarded as the expert authorities in the insurance industry. In fact, many insurers share business with other insurance companies (reinsurance) and the minimum rating for the past 2 decades is an A.M. Best’s Rating of “A” .
When buying Mexican Car Insurance coverage, travelers should ask themselves a few questions. Can I buy reliable insurance from a carrier who has a minimum “A” Rating or am I being steered by an agent or broker who runs a website or local independent agency to accept and purchase coverage from an unrated insurer who offers a less reliable program, but who may pay the agent more commission in order that the agent will favor their coverage?
Please remember that yearly written premium is a poor measure of financial strength and a poor measure of the actual ability of any insurer to pay claims. The answer to this question when an broker might not wish to reveal the true nature of your risk could be to say “Why they are the 1st , 2nd, 3rd largest insurer in (any country).
The number one thing is to ask is the A.M. Best Rating of the insurance company (keep shopping if they don’t know what you are asking) then ask for various limits and features and finally ask for a quote to compare pricing. Applying this Mexico Insurance buying technique will help you measure and compare rate quotations on a clear oranges to oranges basis and assist you in getting what you pay for should you ever be entangled in a car accident or have a claim.
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