Learn the difference between “Full” Coverage and “Liability Only” Mexican Auto Insurance.
“Liability Only” Mexican Auto Insurance: “Liability Only” Coverage meets the minimum liability requirements of the Mexican government. It means Legal liability deemed to be caused by you for injuries or death of persons (bodily injury) not in your vehicle, property damage deemed to have been caused by your vehicle, and medical expenses for you or other persons within your vehicle caused by a covered loss.
“Full” Coverage Mexican Car Insurance : “FULL” Coverage means”Liability Only” Coverage and in addition, coverage for Physical Damage to your vehicle and Total Theft of your vehicle. It protects your vehicle for total theft, collision, turnover, fire, lightning, explosion, and meteorological phenomenon such as windstorms, cyclones, hurricanes and earthquakes. Partial theft and acts of vandalism are excluded except by purchasing Broader Coverage. Towing expenses are covered in order to move the vehicle to a place designated by the company for repairs.
Tip Number 1: If you drive an older car, you might save money by purchasing “Liability Only” Protection.
Check with your U.S. Insurance Provider to find out if they provide any protection for your vehicle within Mexico. Just be careful as most exclude Physical Damage & Theft, and some include it for only a few miles along the border areas into Mexico.
Tip Number 2: If your vehicle has some value, it’s a good idea to purchase “Full Coverage”. Keep in mind however that Mexico Insurers require that you have valid “Full Coverage” on your US or Canada policy in order for you to be eligible to purchase “Full Coverage” while driving in Mexico.
Some Full Coverage Packages include coverage for partial vandalism and also increased medical payments coverage if you are injured by an uninsured motorist. It is usually worth the small increase in premium to get these two options.
Want to know the 7 Things your auto insurance company should give you but doesnt?
Do you think you have the best auto insurance coverage just because youre with a big name company?
News flash, youre probably getting less coverage than you think.
But first lets talk about accident statistics in the U.S.
The Facts:
There are about 3 million car-related injuries a year
2 million permanent injuries
40,000 deaths in the U.S. each year
About 40% of car accident fatalities are related to drinking and driving.
30% to speeding
33% from a car going off the road
Car accidents are currently the number one killer of people ages 1 to 37.
About 1 in 30 young drivers will be injured in an accident each year.
Young drivers are four times more likely to die in car accidents.
much more prone to speed
drive recklessly
not wear their seat belts
and drink and drive
There are Approximately 6.4 million accidents each year
Approximately 40,000 people die in auto accidents each year.
You may ask yourself what are the odds of me getting into an accident?
There were 48,366 Transportation accidents in 2002.
One year odds of You getting in an accident are 1 in 5,953.
Lifetime odds of You getting in an accident are 1 in 77. Are you the 1 in 77 to get into an accident this year?
Did you know?
Midnight to 3 a.m. on Saturdays and Sundays proved to be the deadliest 3-hour periods throughout 2003?
In 2004 there was a total of 38,253 Fatal Crashes.
Over 26,756 Driver crash victims
10,304 Passenger Victims
4,641 Pedestrian Victims
725 Pedacyclist Victims
Lets move on to Insurance Coverage.
Here are the 7 things your auto insurance company should give you but doesnt!
1. Full replacement cost paid if your new car is totaled in the first year at no additional cost.
2. Towing and roadside assistance included with your policy at no additional charge and no reimbursement required.
3. Bilingual insurance representatives available 24 hours a day 7 days a week to provide policy service or take claim reports.
4. Extension of your policy coverage and limits when driving in Mexico within 100 miles of the U.S. Border.
5. Discounted rates for qualified members of certain occupational groups.
6. Temporary coverage for student children home on holidays at no additional charge.
7. Waiver of collision deductibles if both parties involved in an accident are customers of the same company.