Car Insurance in Mexico and what you need to be aware of-
All drivers, whether in their own vehicles or in a rented one must have car insurance in Mexico from a liability insurance company licensed by the Mexican government.
Laws on car insurance in Mexico-
Because Mexico and the US are land neighbors, many Americans have the mistaken belief that their US-based comprehensive insurance is enough to cover them. No matter how comprehensive their coverage is, liability coverage from a US company will not be accepted in Mexico. The rationale for this law is that in case of an accident, a US-based company may not provide coverage in foreign countries, so at minimum car insurance in Mexico must be from a company approved and accredited in Mexico.
In fact, most US insurance companies will cover those insured with them a few miles beyond the Mexican border for a limited period, but that is simply not good enough. Moreover, aside from liability car insurance in Mexico, it is recommended that any visitor in Mexico should have collision damage and personal injury to cover damages to their own persons and their vehicle. Liability insurance only covers personal injury and property damage to the other party.
Choosing a company for car insurance in Mexico-
It is also recommended that any type of car insurance in Mexico should be acquired from a reputable insurance company. Just like in the US, there should be due consideration given in choosing an insurance provider to ensure that if and when the time comes everything is in order. Getting insurance from just any insurance company on either side of the border can lead to problem later on.
Getting your car insurance in Mexico at the last minute – such as at the border – can have consequences for your temporary import permit if your vehicle is under mortgage in the US. You will not be given one if you have no proof of insurance before crossing across the border, and to get that you need a letter of authorization from your insurer. Arranging for car insurance in Mexico ahead of time can save you time and avoid inconvenience.
Car insurance in Mexico you should have-
It was mentioned earlier that liability coverage is required by law, but this is the minimum. Liability coverage is mandated to protect the rights of the other party, and to avoid personal injury claims. However, liability insurance will not cover expenses associated with the injury of the driver at fault and passengers in the vehicle, or the property damage to the vehicle itself.
If the car insurance in Mexico is limited, a visitor may be liable for thousands in medical bills and car damages, and could be facing additional costs for legal fees. A good insurance policy with comprehensive coverage will provide legal and administrative assistance in case of an accident. It would avoid many complications, as well as keep your credit card and bank balance from getting involved. Most services in Mexico are lower than in the US, but serious accidents can run that figure up pretty high. It makes more sense to invest in complete car insurance in Mexico for peace of mind when on vacation, or even when relocating to the country
Renting a vehicle and car insurance in Mexico-
If you are renting a vehicle, liability insurance is included in your rental fee so you are covered. However, it can get expensive to get the other types of insurance that you may need in case of an accident, both to purchase it and not having it. A car rental company can charge the entire cost of the rental to your credit card if you do not have a collision damage waiver, and medical bills for personal injury can run up a hefty bill even in Mexico.
Choosing car insurance in Mexico; online-
When choosing where to get car insurance in Mexico, it would be a good idea to do your research ahead of time. Online insurance websites that pools reputable insurance providers on both sides of the border offers affordable and excellent car insurance in Mexico. It is possible to get a customized package that takes into consideration the nature of your trip, the length of your stay, and the amount of optional coverage you want to keep your premiums low. You can get quotes and assistance in the comfort of your own home even before you start packing for your trip, click here!
The importance of car insurance in Mexico-
It is easy to overlook the importance of car insurance in Mexico in the excitement of the prospect of a nice vacation or a strategic relocation. But it is one of the things that need to be looked into just like when in the US or any country of origin. No one knows when an accident will happen, and even if it is not your fault you will still have to contend with the costs of such an accident which falls beyond the cap of the other driver’s insurance.
Mexico is a great place to visit and to relocate to. It has a warm climate, great people and low medical costs that make it an attractive destination for many Americans who have fixed incomes. However, it should be remembered that a lack of judicious preparation for any eventuality can make turn the dream trip into a nightmare. It does not take a lot to make sure that you have coverage for anything that may happen for the duration of your excursion into Mexico. A little time spent on research and consideration in choosing the right insurance company to provide you with this type of coverage can save you a lot of money and trouble in the future. It is extremely important that the acquisition of complete care insurance in Mexico is made a priority before anything else, West Coast Global Insurance Services, is here to help!