Mexico Insurance March 2012 Newsletter
The Mexpro.com Mexico Insurance March 2012 Newsletter is here just in time for Spring Break. Below is one of the many articles included in our newsletter.
Things to Know Before You Head to Mexico
If you plan to load up the car and head to Mexico for some R&R, the question is to insure or not to insure. Or is that even a question?
I recently spoke to a former co-worker which triggered a funny story. She told me of her son, a freshman in college at the time, who did what many will do over the next several weeks. He and his buddies pooled together some money and decided to take a trip to Brownsville, Texas for Spring Break. Part of their plan was to go to Mexico to find some previously undiscovered adventure. In order to "save" money, they chose not to purchase Mexico insurance...
That choice proved disastrous as he ended up rear-ending another driver. In a somewhat fortunate turn of events he didn't cause a lot of damage to the other vehicle, but nearly totaled his own. Did he end up "saving" money? Well, no. Here's what happened.
He payed the people he hit roughly $400, payed-off the cops to avoid jail (Estimate: $100), and payed to have his vehicle towed back to the border (Estimate $250). Once he finally did return from Mexico, the costs weren't over. He rented a U-Haul and trailer to tow his vehicle back to New Mexico. I don't know what the cost of a U-Haul was when this occurred, but I just moved and paid north of $500 bucks to move my family 250 miles. So, we are already over $1250 before the car is repaired. Had he only bought a liability policy, he at least would have had the liability, legal assistance, and towing covered. For a few more bucks, he could have had his vehicle fixed.
So why buy Mexico Insurance? Two simple reasons:
1. Have you ever spent time in a Mexican jail? While many Mexican states now require insurance, in other states you must show the ability to pay for any damage you cause. Often that means jail time while things are sorted out and you scrap together the money. Remember, even liability-only coverage provides you with the required financial responsibility, and legal assistance to keep you out of jail.
2. To protect your assets or even liabilities! If your financed vehicle gets totaled you are still on the hook for the loan and without a car.
In short, avoid the headaches of self-insuring, buy Mexico insurance. For more information about Mexico insurance, visit our website today at www.Mexpro.com.