Whether or not you’re driving to Mexico to benefit from the stunning vistas of Los Cabos, eat your manner round Mexico Metropolis or discover the markets and nightlife of Tijuana, it’s essential to have Mexican automobile insurance coverage earlier than you get behind the wheel there.
Here’s what it is advisable find out about Mexican automobile insurance coverage.
Mexican automobile insurance coverage necessities
Mexican regulation requires all drivers, together with U.S. vacationers who plan to drive within the nation, to have legal responsibility protection. The minimal necessities are:
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100,000 Mexican pesos (round $5,000) for bodily damage and demise legal responsibility protection.
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50,000 Mexican pesos (round $2,500) for property legal responsibility injury.
Should you’re caught driving in Mexico with out the minimal required protection, you possibly can face jail time and hefty fines. When you get a Mexican automobile insurance coverage coverage, be certain your insurance coverage documentation is with you always to show you’re coated.
You’ll nonetheless must get Mexican legal responsibility insurance coverage even when your present insurer provides some protection when you’re driving in Mexico. Some U.S. insurers, like USAA, supply restricted protection in Mexico in the event you’re inside a sure distance of the border. However this protection often solely contains restricted injury insurance coverage, which received’t cowl you as much as Mexico’s authorized necessities.
How a lot automobile insurance coverage you must have in Mexico
Mexican legal responsibility automobile insurance coverage necessities are low. FinanceGrabber recommends contemplating greater limits for larger monetary safety within the occasion of an accident, similar to you’ll together with your legal responsibility insurance coverage within the U.S. Medical payments and automobile repairs after a crash could be extremely costly, and in the event you’re at fault, you’ll be held financially accountable.
Many insurers in Mexico advocate legal responsibility insurance coverage with at the very least a $300,000 mixed single restrict to cowl you for third-party property injury, bodily damage and demise. Nonetheless, yow will discover insurance policies providing as much as $1 million in legal responsibility protection.
🤓Nerdy Tip
As a basic rule, you’ll need sufficient legal responsibility insurance coverage to cowl your web price. That’s equal to the worth of all of your money, investments and belongings you personal, minus your debt. It’s possible you’ll not want greater legal responsibility limits if in case you have a low web price, since there’s much less incentive for a lawsuit from the opposite driver after an accident.
Sorts of Mexican auto insurance coverage protection
Whereas there are many dependable insurers in Mexico, the most secure guess for vacationers is to buy Mexican insurance coverage by means of a U.S. insurer or agent. That manner you’ll keep away from potential scams or miscommunication.
Beneath are a few of the widespread kinds of automobile insurance coverage in Mexico.
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Legal responsibility insurance coverage is required in Mexico to drive legally. It covers property injury and accidents it’s possible you’ll trigger others in an at-fault accident. Many Mexican insurers advocate legal responsibility insurance coverage beginning at a mixed single restrict of $300,000.
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Bail and authorized help protection pays to your bail and authorized charges in the event you’re detained after being discovered at fault in a crash.
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Bodily injury protection covers your automobile as much as its precise money worth for injury ensuing from occasions reminiscent of a crash, riot or pure catastrophe. In case your U.S. coverage already contains collision and complete protection, and your insurer provides restricted protection in Mexico, it’s possible you’ll not want bodily injury protection. Examine together with your insurer to make sure.
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Medical funds protection helps pay to deal with your and your passengers’ accidents after an accident.
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Whole theft protection covers your automobile as much as its precise money worth in case it’s stolen.
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Partial theft and vandalism protection pays for the worth of stolen or vandalized objects that have been completely hooked up to your automobile, like tires or a radio.
The way to get short-term automobile insurance coverage for a Mexico journey
Some main U.S. insurers supply short-term Mexican insurance policy by means of companions in Mexico. These plans can cowl drivers for someday to a 12 months, so vacationers can insure their automobile for a weekend or summer time vacation with out paying for protection they don’t want. Should you plan to drive out and in of Mexico a number of occasions a 12 months, you’ll possible desire a yearlong coverage, because the day by day value of insuring your automobile might be cheaper the longer you insure it.
Listed here are some massive insurers that provide Mexican automobile insurance coverage by partnering with insurers throughout the border:
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American Household by means of Worldwide Insurance coverage Group.
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Geico by means of Worldwide Insurance coverage Group.
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Liberty Mutual by means of MexPro.
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Progressive by means of MexPro
To buy Mexican automobile insurance coverage, name your agent or insurance coverage firm earlier than your journey to see if they will join you with a dependable Mexican insurance coverage firm. If they can’t assist, contact different U.S. insurers to arrange your Mexican automobile insurance coverage coverage.
Rental automobile insurance coverage in Mexico
If highway journeys aren’t your factor, you would possibly choose to lease a automobile when you arrive in Mexico.
Essentially the most simple approach to get protection to your rental could be to purchase Mexican automobile insurance coverage from the automobile rental firm.
Should you plan to say no the rental firm’s automobile insurance coverage and as an alternative depend on the protection offered by your bank card, you’ll nonetheless must buy Mexican legal responsibility automobile insurance coverage. Bank card insurance coverage advantages usually solely cowl injury to the rental automobile, not any injury it’s possible you’ll trigger to others or their property. You should definitely affirm together with your bank card firm that there aren’t any restrictions on Mexican automobile leases.