Posted February 7, 2013 by & filed under Mexico.

In many of our posts we have stated that the actual new maximum liability limit in the event of death depends on how the state law alters the federal law. Below is an estimated state by state breakdown of the new maximum compensation limits in the event an insured causes a negligent fatality. The source is ABA Seguros, and the exchange rate used in the conversions of pesos to dollars is 12.69 MXP:1 USD.

In looking at the state by state breakdown, it is easy to see why we urge with our friends and customers to purchase at least $300,000 in liability coverage, and to seriously consider the $500,000 limit. For more information about these limits, our conversion, or the calculation please contact us today.

MEXICO LIABILITY LAW CHANGE
ESTIMATED MAXIMUM COMPENSATION AMOUNT FOR DECEASED BY STATE
AS OF DECEMBER 2012
StatePrevious Maximum
Limit in USD
(1 USD: 12.69 MXP)
New Maximum
Limitin USD
(1 USD: 12.69 MXP)
Aguas Caliente

To be determined by Judge

Baja California

$17,927.82

$122,793.54

Baja California Sur

$42,967.03

$294,294.72

Campeche

$40,663.70

$278,518.52

Chiapas

To be determined by Judge

Chihuahua

$21,483.51

$147,147.36

Coahuila

$40,663.70

$278,518.52

Colima

$3,398.61

$23,278.17

DF

$42,967.03

$294,294.72

Durango

$3,398.61

$23,278.17

Estado de México

$3,585.57

N/A

Guanajuato

$40,663.70

$278,518.52

Guerrero

$14,342.29

$98,234.83

Hidalgo

To be determined by Judge

Jalisco

$17,421.63

$119,326.24

Michoacán

$40,663.70

$278,518.52

Morelos

$129,147.30

N/A

Nayarit

$30,497.78

$208,888.89

Oaxaca

$11,033.85

$69,834.52

Puebla

$5,586.76

N/A

Queretaro

$40,663.70

$278,518.52

Quintana Roo

$3,398.61

$23,278.17

San Luis Potosí

$13,594.45

$93,112.69

Sinaloa

$13,594.45

$93,112.69

Sonora

To be determined by Judge

Tabasco

$6,797.23

N/A

Tamaulipas

$14,735.22

N/A

Tlaxcala

$5,121.20

N/A

Veracruz

To be determined by Judge

Yucatán

$40,663.70

$278,518.52

Zacatecas

$3,398.61

$23,278.17

Source: ABA Seguros
Exchange rate used in calculations: 1 USD: 12:69 MXP

2 Responses to “Mexico Liability Law Change State by State Breakdown”

  1. Al Sjogren

    Your math needs some attention.

    64 Pesos per day * 5000 days = 320,000 Pesos

    320,000 pesos / 12.5 Pesos per Dollar = 25,600 Dollars

    25,600 Dollars is nowhere close to what you publish.

    And I over estimated the minimum wage. The actuals are all lower. Here it is from WikiPedia:
    “The new 2012 labor reform states $7 MXN an hour. Daily minimum wages set annually by law and determined by zone; 62.33 Mexican pesos in Zona A (Baja California, Federal District, State of Mexico, and large cities), 60.57 pesos in Zone B (Sonora, Nuevo León, Tamaulipas, Veracruz, and Jalisco), and 59.08 pesos in Zone C (all other states) Also adjusting those to different jobs.” [47]

    Reply

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