How Secure is your Mexico Auto Insurance?

Last Updated: February 11, 2010 by

Did you know that there are less than 20 insurance companies in all of Mexico who offer Tourist Auto Insurance Coverage?

As many people are aware, U.S. and Canadian insurance companies cannot legally provide Mexico Liability Insurance coverage. Therefore, there are a handful of Mexican Insurers who distribute "Tourist Auto" policies, which provide coverage for U.S. and Canadian registered vehicles while in Mexico. The coverage can vary widely among Mexico insurers...some policies closely resemble U.S. style insurance, while others have numerous exclusions not typically found in U.S. policies.

Besides carefully checking the coverage offered by your Mexico insurance provider, when buying any insurance coverage, it is important to check the A.M. Best rating of the company you are purchasing from. A.M. Best rates insurance companies based on a number of factors, including financial stability.

When buying your coverage from Mexico insurers, it is important that you check the specific A.M. Best Rating, reserves, and the local environment for that insurer. For instance, A.M. Best has not rated three large Mexico tourist auto insurers. You should never buy your coverage from unrated insurers in the U.S., let alone Mexico!

At a time when many businesses are seeing stock valuations decrease and may be struggling financially, it is more important than ever you make sure you are buying your Mexico insurance coverage from financially stable, A.M. Best Rated insurers.

There are many websites that offer information and quotes for Mexican auto insurance. These sites allow you to research, compare coverage and pricing, and even purchase your policy. Waiting to buy your policy and purchasing insurance at one of the stands at the border may not allow time for research and ensure that you are buying from a rated insurer prior to your trip.

For your protection, only sells insurance for companies who have received a "secure" rating from A.M. Best. Click here to learn more about the insurers represents.