Reasons To Have Mexican Car Insurance
Reasons To Have Mexican Car Insurance
Reasons To Have Mexican Car Insurance[[Because of the different legal systems there are some major coverage differences between United States and Mexican car insurance policies||Everybody is well aware that there are differences between the legal systems of the United States and Mexico. These differences have created the need for differences between the United Stated and Mexican car insurance policies. ||Different legal systems between the two countries have created differences between the United States and Mexican car insurance polices.||There are differences between the United States and Mexican car insurance, and most of these differences were created by the different legal systems that the two countries have.]]. I will outline some the the coverage differences by type of insurance. Please, do not confuse this with a complete list as there and far too many "minor" differences to list.
[[First of all, let's talk about Liability Insurance. Civil Law, as defined by statute, determines liability coverage in Mexico. This can be really good or really bad depending on your point of view. Because of this system there is almost never a claim made for pain and suffering or emotional distress. The great majority of claims are paid under "Property Damage to Others" and "Bodily Injury," these losses are settled on an actual cash value (acv) basis, and are dictated by law.
||The first coverage that I will talk about is Liability insurance. Liability coverage in Mexico is determined by civil law and defined by statute. Now some people think that this is really good and others think that this is really bad, it's just a matter of opinion. The result of this is that it is very rare to have a claim made for pain and suffering or emotional distress. Most claims are paid under "Property Damage to Others" coverage and the "Bodily Injury" coverage. All of these losses are settled on an actual cash value or acv approach as is dictated by law. ||Now the very first coverage that will be addressed is Liability insurance. Unlike the United States, Mexican civil law, which is defined by statute and not case history is what determines liability. Some people think that this is great and others hate it; you can decide for yourself whether or not you like it. Under Mexican statute there is not redress for pain and suffering or emotional distress and therefore no liability for it. That means that claims are usually paid under the "Property Damage to Others" coverage or the "Bodily Injury" coverage, and all of these claims are adjusted on an actual cash value (acv) basis. ||The great majority of Liability claims are paid under "Property Damage to Others" and not "Bodily Injury," these losses are settled on an acutual cash value basis as is dictatated by Mexican statute. This is becuase in Mexico civil law and not case law determines liability coverage. Because of this system there is almost never a claime made for pain and suffering or emotional distress. ]]
[[Mexico is not nearly as litigious a society as is the US and because of this it is rare to have a claim in excess of one hundred thousand dollars. Property Damage to others can approach this limit, but it is rare to have a Bodily Injury claim that reaches this limit. By the way, this is completely contrary to the way that claims are settled in the United States.||By the way, this is completely opposite to the way that claims are handled in the United States, but Mexico is not nearly as litigious as we are. It is rare to see a claim above $100,000. Property damage claims can approach this limit, but very rarely do you see a Bodily Injury claim this high. ||It is generally assumed (and assumed correctly) that Mexico does not have as many court cases and attorneys as the United States. Indeed it is uncommon to have a claim in excess of $100,000. Sometimes, with a very expensive car, Property Damage to Others claims will get near this limit, but it is not at all common to have a Bodily Injury claim that comes close to the $100,000 number. ||In Mexico it is rare to have a claim in excess of one hundred thousand dollars, sometimes Property Damage to Others can approach this limit, but Bodily Injury claims rarely reach this limit. This is a complete contrast to the way that claims are settled in the United States, but that is probably because Mexico is not nearly as litigious a society as is the United States.]]
[[Now what I am about to say may seem obvious to some, but not to others: Liability insurance purchased from a Mexican Insurer will not cover any law suits against you in the United States, it will only cover law suits brought against you in Mexico. Therefore, if you are sued, in the United States, for an accident that occurred in Mexico, there will be no coverage under your Mexican policy.||Some will find this next piece obvious, and others not so much: The insurance purchased from a Mexican Insurer will not cover a case brought against you in the United States. It will only provide protection for cases brought against you in Mexico. If you have an accident in Mexico and are sued in the United States for that accident you will have no coverage under your Mexican policy.||If you have an "incident" in Mexico and a case is brought against you in the United States there will be no coverage for that claim under your Mexican insurance policy. Now, that might be obvious to some and not to others, but a liability insurance policy purchased from a Mexican insurer will only cover claims brought against you in Mexico. ||The liability insurance that you purchase from a Mexican insurer will not provide coverage for you for a claim brought against you in the United States, it will only cover you in Mexico. Therefore if you have an accident in Mexico it will cover you for any law suit brought against you in Mexico, but not for a suite brought against you in the United States. ]]
Secondly, lets take a look at car insurance. There can be quite a big difference in rates, coverages, limits, and deductibles between the various Mexican Insurance companies so lets take a look at some of the things that you should pay attention to. You will want a combined single limit coverage, some insurance companies will reduce the amount payable with the use of split limits. The standard used on a Mexican car policy is a combined single limit of one hundred thousand dollars. Stay away from split limits. Another very important coverage is Legal Aid and Travel Assistance, sometimes these are listed as as additional coverages, but they are essential. Without both of these coverages you will be paying your own legal expenses until liability is determined.
[[The Mexican car policy has exclusions for Vandalism and Partial Theft. Whereas United States policies are generally "all risk" policies Mexican policies are "named perils" policies. These policies provided coverage for collision, fire, total theft, some natural occurrences, and other perils. In the United States we are accustomed to a fixed deductible, however Mexican car polices will often have a deductible as a percentage of the value of the car insured.
||Lastly, a Mexican car policy excludes both Vandalism and Partial Theft. In the United States policies are generally "all risk" policies, but Mexican policies are "named perils" policies. These policies provide coverage for collision, fire, total theft, some natural occurrences, and other perils. In the United States we are used to a fixed deductible, but Mexican car polices will often have a deductible as a percentage of the value of the car insured.||The last thing is that a Mexican car policy has exclusions for both Vandalism and Partial Theft, but in the United States policies are generally "all risk" policies. Not so in Mexico, because Mexican policies are "named perils" policies. These policies provided coverage for collision, fire, total theft, some natural occurrences, and other perils. In the United States almost all insurance companies use a fixed deductible, but in Mexico insurance companies will often have a deductible as a percentage of the value of the car insured.||The last thing is that a Mexican car insurance policy has exclusions for Vandalism and Partial Theft. In the United States policies are generally "all risk" policies, but this is not so in Mexico. Mexican insurance policies are "named perils" policies. These policies provided coverage for collision, fire, total theft, some natural occurrences, and other perils. In the United States all insurance companies will use a fixed deductible. In Mexico insurance companies will often have a deductible as a percentage of the value of the car insured, this is called a variable deductible. ||The Mexican car insurance policy has exclusions for both Vandalism and Partial Theft, and whereas the United States policies are generally "all risk" policies Mexican car insurance policies are "named perils" policies. Mexican car insurance will provide coverage for collision, fire, total theft, some natural occurrences, and many other perils. In the United States, insurance companies will use a fixed deductible, but Mexican car insurance polices will often have a deductible as a percentage of the value of the car insured., this is referred to as a variable deductible. ]]
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