How To Choose Reliable Mexico Auto Insurance Online - Canadian Traveler Car Insurance Review!
March 4, 2009 by amabq · Leave a Comment
US and Canadian travelers take extra care in choosing an insurance company at home, but fail to protect themselves adequately while driving in Mexico on vacation or business. This is understandable because Mexico insurance coverage can be confusing.
In Mexico Napoleonic Law is applied and practiced, so it is vital that you have protection against the real risk of being “Detained” if you do damage either property damage or bodily injury to third parties in an accident. Every US and Canadian car insurance excludes “Liability” coverage in Mexico and most domestic insurers will not pay for physical damage to your vehicle while you are motoring South of the Border.
In order to help secure a reliable Mexican Auto Insurance policy, smart travelers begin by reviewing the financial strength, rating, and claims paying ability of their Mexico Car insurance carrier as a first step and then compare online coverage and rates that meet their needs as a second step.
Buying insurance from a independently evaluated “A” rated company who provides solid “liability limits” with broad features and quality benefits is the preferred method to buy car insurance for Mexico. The technique discussed is not realistic if you buy coverage at one of the sellers who congrigate near the border, still over the past few years it is getting easier to buy broader coverage that can be comprehended and bought at less expense (fees) if you buy over the internet.
At the very least, explore carriers with an “A” rating or higher (As ranked by A.M. Best, or S and P ) who are admitted and accredited to sell Mexico car policies.
If an internet site does not show on the opening page that the insurance company they represent is “A Rated” (this includes Mexico domiciled Insurance Companies), 9 times out of ten they are selling insurance from un-rated or non-rated insurance companies.
A.M. Best (ambest.com) and Standard and Poor’s (who rate global, foreign, and domestic insurers) are considered to be the industry standard rating agencies in the insurance marketplace. In fact, many insurance companies do business with other insurance companies and the minimum standard for most insurers is an “A” rating.
When shopping for Auto Insurance for Mexico, motorists should ask themselves. Can I buy coverage from an insurer who has an “A” Rating for financial strength and claims paying ability or am I being asked by an agent or broker who runs a website or local agency to accept and purchase coverage from an unrated insurer who may pay the agent more commission in order to peddle their coverage?
(Keep in mind, annual written premium or the size of an insurance company as a measure of strength or claims paying ability is a questionable measure of fitness. The answer to this question when an broker might not wish to reveal the true nature of your risk could be to say “Why they are the 1st , 2nd, 3rd largest insurer in (any country).
First look at the insurance company rating ( “A” is Standard), next the policy limit and features, and finally the price. Exploring this Car Insurance for Mexico buying process will assist you in measuring, learning and comparing quotes on a clear equal basis and assist you in getting what you pay for should you ever be unfortunate and have a car accident in Mexico.
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