Lessons From An Insurance Agent On Why To Buy Mexican Car Insurance Before Your Trip
Because of the different legal systems there are some major coverage differences between United States and Mexican car insurance policies
. 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.
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.
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.
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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