Tips From An Insurance Agent: Buy Mexican Car Insurance Before You Travel To Mexico
Tips From An Insurance Agent: Buy Mexican Car Insurance Before You Travel To Mexico
Different legal systems between the two countries have created differences between the United States and Mexican car insurance polices.. 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.
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.
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.
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.
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.
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