How to Choose a Strong Mexican Auto Insurance Company

Mexico applies Napoleonic law and it is critical that you protect yourself from the possibility of being "confined" in case you are determined to be at fault in an automobile accident.

Every US and Canadian auto insurance policy has territorial exclusions for "Liability" coverage in Mexico and most domestic insurers will not pay for physical damage to your vehicle within Mexico. In order to help guarantee a best quality Mexican Insurance policy, astute travelers start out by examining the financial strength, valuation, and claims handling ability of their Mexico auto insurer as a beginning step and then compare internet coverage and rates that meet their needs as a 2nd step.

Buying insurance from a ranked company who provides sufficient "liability" limits with valued features and benefits is the goal when buying insurance for Mexico. The technique discussed is unrealistic if you purchase coverage at one of the border venders, still over the past few yrs it is beginning to get easier to buy a policy that can be interpreted and can be bought less expensively if you buy insurance coverage online over the World Wide Web. At a minimum, look for an insurance company with an "A" ranking or higher in the USA who are admitted and accredited to sell Mexico auto insurance. If any internet site does not show on the opening page that the insurance company they represent is "A" rated by A.M. Best in the US (this includes Mexico domiciled Insurance Companies), then you can count that the website is selling insurance from an un-rated or non-rated insurance company. A.M. Best, and Standard and Poor's (who independently evaluate and grade global, foreign, and domestic insurers) are regarded as the industry standard rating authorities in the insurance market.

In fact, many insurance companies do business with other insurance companies and the lowest standard for the past 20 years is an A.M. Best's Rating of "A" at a MINIMUM. When buying any type of Mexican insurance online or otherwise, purchasers should ask themselves a few questions. 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 does not wish to reveal the true scope of your risk might be to say "Why they are the first , second, third etc largest insurer in (any country).

First ask what the insurance company rating is ( "A" is a minimum standard), next evaluate the policy limit and benefits, and then check on the price. Applying this Mexico insurance buying technique will help you measure and compare rate quotations on a clear oranges to oranges basis and assist you in getting what you pay for should you ever be entangled in a car accident or have a claim