Mexican Auto Insurance Online from McCormick Insurance Solutions
Why Do I Need Mexican Auto Insurance?
Under Mexican law, motorists are required to have insurance, or “proof of financial responsibility”, in the event of an accident, even if you did not cause it. As a foreigner traveling in Mexico, the only way of demonstrating this financial responsibility is to have enough cash on hand to cover damages, or to have a policy from a Mexican auto insurance company. Having a Mexico insurance policy also greatly reduces the chances that you will face jail time and limits the financial burden you might come by after an accident.
Will my U.S. or Canadian insurance cover me in Mexico?
Regardless of what your domestic auto insurance provider may tell you, policies from U.S. and all other non-Mexican insurance companies are not considered “proof of financial responsibility” and will not be recognized by Mexican authorities. While a few major U.S. insurance companies may cover damages to your own vehicle in Mexico up to a small distance south of the border, they can not provide coverage for damages to third parties. This is why any vehicle traveling into Mexico should carry at least a liability policy from a Mexican insurance company.
What is a “liability only” Mexican insurance policy and what does it cover?
Liability is the obligation to pay money to parties other than yourself or occupants of your vehicle for damages you may cause while driving. A “liability only” Mexican auto insurance policy covers for damages to other vehicles or property in an accident as well as costs for bodily injuries which you might cause to other parties.
What is a “full coverage” Mexican insurance policy?
A full coverage Mexico insurance policy covers your vehicle for physical damage, total loss and theft, as well as providing the liability component described above. In addition, some policies also offer coverage for partial theft of parts and coverage for vandalism. It is recommended to use Kelley Blue Book to determine the most accurate market value of your vehicle when buying a full coverage policy.