Standard Mexico Auto Insurance Program Comparison Chart
Purchasing the standard Mexico auto insurance policy package is an economical way to cover your vehicle in Mexico. While it does not afford the same coverage as the extended policy, it does provide the basics, and can be accepted by finance companies with the proper coverage. However, each standard package is a little different in the coverage it provides. To ensure you purchase the correct coverage you need, we have provided a comparison of each program side-by-side below.
Mexpro Standard Coverage Comparison
|A.M. BEST Ranking||Parent Company A+||Parent Company A+||Parent Company A-||A-|
|US Parent Company||ACE-INA Holdings Inc.||ACE-INA Holdings Inc.||Great American Insurance Group||N/A|
|Section I (collision, turnover, glass breakage, natural phenomena∗)||Up to the value appearing on the Declarations page, not to exceed Market Value (Subject to deductible)|
|Section II (theft, fire)||Up to the value appearing on the Declarations page, not to exceed Market Value (Subject to deductible)|
|Fixed Deductible Option||Optional|
|Collision Deductible Waiver When third party at fault||NO|
|Coverage for Third Party Liability||Up to $500,000 CSL|
|Medical Payments||$10,000 / $50,000||$2,000 / $10,000||$10,000 / $50,000||$5,000 / $25,000|
|Medical Payments when damaged by an Uninsured Motorist||$10,000 / $50,000||$2,000 / $10,000||$10,000 / $50,000||$5,000 / $25,000|
|Physical Damage to car when damaged by an Uninsured Motorist||Up to the value appearing on the Declarations page, not to exceed Market Value (Subject to deductible)|
|Legal Assist/Bail Bond||Will cover up to Liability limit||$30,000||Will cover up to Liability limit||$30,000|
|Roadside Assistance||MexVisit® Travel Assistance Included||ACE Platinum Assist||MexVisit® Travel Assistance Included||YES|
|Increased US Labor Rates (for US Repair)||NO|
∗ GNP includes natural phenomena as a Section II Peril increasing the deductible to $1,000 for losses related to flood, hurricane, etc.
∗∗ Motorcycle policies DO NOT include medical payments for any driver or passenger.
New Liability Laws Necessitate High Limits
Market Value is equal to the Private Party Value as determined by Kelly Blue Book
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One of the benefits of the standard Mexico insurance policy is its flexibility. For example, when it comes to the deductible, you can purchase a percentage deductible that keeps your premium low, but requires a higher out of pocket cost in the event of an accident. Or, you can purchase a fixed deductible that increases your premium, but requires a lower out of pocket cost in the event of an accident.
Another example is liability limits, while the extended package automatically comes with $300,000 CSL for liability, the standard policy allows you to purchase lower limits. It is important to understand that the laws in Mexico have changed and that we recommend no lower than $300,000 CSL in liability, and strongly encourage that you consider the $500,000 option.
Get a quote online now and see how affordable the standard Mexico insurance policy can be.