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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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Bumpy Road for Mexican Auto Insurers
Insurers business being down some 80% seems to verify many Nomads recent observations of empty campgrounds, hotels and surf spots...
http://www.signonsandiego.com/news/2010/mar/13/bumpy-road-me...
Some points I found interesting. And, as always, it's the medias fault:
"... As do hotels, restaurants and other tourist-dependent businesses in Baja California that have been hurt by the decline, the insurance sellers on
the north side blame bad publicity from a rash of drug-related violence in Tijuana, high gasoline prices, economic woes in the United States and new
federal travel regulations that kicked in last year, which they say made an already bad situation worse."
"... former Baja California road-trippers and spring-break revelers have opted to stay home or go elsewhere in the wake of drug-related border
violence, more travel regulations, higher gas prices and a tight U.S. economy, businesses that sell auto insurance policies for travel to Mexico are
struggling.
"... it’s about 80 percent down, compared to how it used to be,” said Fred Knechel, business manager of Baja 4 Less Mexican Auto Insurance Services in
San Ysidro"
"... this time, there doesn’t seem to be a recovery in the near future. This is definitely long-term,”
... "Everyone is hurting with no one crossing,” said Jason Wells, executive director of the San Ysidro Chamber of Commerce. They have pretty much lost
all their clientele. It is very bad for them right now.”
..."one steadfast part of his clientele is the Mexican-born traveler who drives home to visit family. They are not spooked at all,” Nordahl said,
whose company does the bulk of its business online. “Things have slowed down (for them) a little bit, but that is just due to the economy, the price
of gas. None of them are concerned about the violence or anything, because they can cut through the hype.”
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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the price of gas?
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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Obviously, trips and traffic are down. However, I do recall that not too long ago, BajaGeoff posted that business was improving. Jeff Nordahl of
MexAdventure was also quoted in the article Both MexAdventure and BajaBound sell primarily, if not exclusively online providing very user-friendly
interface. I'm thinking that the guy in the article who has ten San Diego locations is also being victimized by having an outdated business model.
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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Liar, liar, pants on fire
| Quote: | Originally posted by Woooosh
..."one steadfast part of his clientele is the [B]Mexican-born traveler who drives home to visit family[/B]. They are not spooked at all,” Nordahl
said, whose company does the bulk of its business online. “Things have slowed down (for them) a little bit, but that is just due to the economy, the
price of gas. None of them are concerned about the violence or anything, because they can cut through the hype.” |
These travelers don't buy insurance.
Like, maybe, one-in-a-million. 
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arrowhead
Banned
Posts: 912
Registered: 5-5-2009
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Yeah, well those Mexican auto insurers down by the border have always been creaming the market. Their markup on a policy is ridiculous compared to
what you can get from somebody away from the border. Just look at this comparison of two identical policies, liability only for $50,000. Same car,
same additional accident benefits, i.e. bail bond, roadside service, plane tickets if stranded, rental car, legal representation, etc. Both A+ rated
insurance companies:
Broker #1 a sponsor of a well know Baja-related message board
Broker #2 100 miles from the border
7 day = #1 $76.30............#2 $41.36
6 month = #1 $237.45..........#2 $131.16
1 year = #1 $324.43..........#2 140.53
The entire difference just lines the pockets of the broker.
No soy por ni contra apatía.
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
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Actually wondering, exactly who broker # 2 was. You would certainly be doing a service to this community if you revealed it.
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sancho
Ultra Nomad
Posts: 2524
Registered: 10-6-2004
Location: OC So Cal
Member Is Offline
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A couple GREAT points posted, 'those travellers
don't buy Mex Ins for trips back home'. Probably
not politocally correct though. Also the point
about the paltry $50,000 csl liability limit on
policies sold at the border. Casual tourists
don't know what Mex Ins they are buying.
I would say a full 90% of my friends will not drive
into Mex, so the point in the article about business
being down 80% would seem to be right on.
I guess it means more room for us
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KASHEYDOG
Senior Nomad
Posts: 649
Registered: 2-21-2007
Location: CARLSBAD,CA 619-990-0270
Member Is Offline
Mood: SO MANY TACOS, SO LITTLE TIME... Gotta Go, See ya there.... 
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I get my annual policy through "Costco.com". Ive enclosed a web address for your review. Executive members get a special discount. Call me if you need
help Dick Kashey 619 224 0808 in O.B. : )
http://www.costco.com/Browse/Productgroup.aspx?ec=BC-EC12628...
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KASHEYDOG
Senior Nomad
Posts: 649
Registered: 2-21-2007
Location: CARLSBAD,CA 619-990-0270
Member Is Offline
Mood: SO MANY TACOS, SO LITTLE TIME... Gotta Go, See ya there....
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Try this one too
https://www.bonitawest.com/Costco/frm_Home.asp
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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Thanks for that link. I have used the Bonita West company for on-line policies before. CostCo members log-on with their club card # and get a 35%
discount... plus I can gripe to CostCo for some leverage if something ever goes wrong on a claim.
I insured a 2007 SUV with full coverage for $193/year. Used a $20K vehicle valuation with $500 deductible and maxed out the options for Liability
and Medical expenses. Includes Legal assistance and Travel assistance:
Base premium - $240
IVA - 26
Policy Fee - 30
Costco Discount - ($104)
Total Premium - $193
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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BajaGeoff
Super Nomad
Posts: 1727
Registered: 1-11-2006
Location: San Diego and Campo Lopez
Member Is Offline
Mood: Heading To Baja!!!
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Arrowhead,
I am not sure if you are referring to Baja Bound as broker #1, but if so, your numbers are way off.
Our 50K liability-only policies break down at the following prices:
7 days = $39.28
6 months = $112.05
annual = $146.46
This is through HDI Seguros (formerly GE Seguros).
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lasalinagary
Newbie
Posts: 7
Registered: 8-28-2009
Location: La Salina
Member Is Offline
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Thanks for the info on Costco. Just went to Bonita West and insured my vehicle full coverage for a full year, $32000 value for $329.00. that was way
better than any others that I have done.
One caveat, they only insure cars from border states. My friend from Iowa was not eligible for coverage, and I had to buy a Costco card issued in the
US, they did not accept my Mexico issued Costco card.
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monoloco
Elite Nomad
Posts: 6667
Registered: 7-13-2009
Location: Pescadero BCS
Member Is Offline
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Oregon is not a border state and Costco insured us.
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Ken Cooke
Elite Nomad
Posts: 8963
Registered: 2-9-2004
Location: Riverside, CA
Member Is Offline
Mood: Pole Line Road postponed due to injury
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Baja Grande 2011 is a "Go"
The word on the street is Baja Grande 2011 (April 2011) is a "Go". Nothing is going to keep our Jeeps out of Mexico next Spring.
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Hooker33
Junior Nomad
Posts: 65
Registered: 6-23-2008
Location: Camano Is. WA
Member Is Offline
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Costco Mexican Insurance
Just logged on to the listed Costco Insurance web-site. The Mexican Insurance is not available to Washington residents. I guess I'll have to stick
to Vagabundos unless someone has a better alternative for us.
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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| Quote: | Originally posted by Woooosh
Thanks for that link. I have used the Bonita West company for on-line policies before. CostCo members log-on with their club card # and get a 35%
discount... plus I can gripe to CostCo for some leverage if something ever goes wrong on a claim.
I insured a 2007 SUV with full coverage for $193/year. Used a $20K vehicle valuation with $500 deductible and maxed out the options for Liability
and Medical expenses. Includes Legal assistance and Travel assistance:
Base premium - $240
IVA - 26
Policy Fee - 30
Costco Discount - ($104)
Total Premium - $193 |
looks like i'm gonna need to get a costco card! sorry Geoff! 1/2 price....
[Edited on 3-27-2010 by woody in ob]
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Pacifico
Super Nomad
Posts: 1299
Registered: 5-26-2008
Member Is Offline
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I just bought an annual insurance policy through Bonita West (full coverage and limited territory) for $375.00! This is based on $41k value, 100k
liability. My Costco discount was $125.23.
This is a great deal in my opinion for an annual policy. 
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irenemm
Senior Nomad
Posts: 623
Registered: 7-16-2009
Location: vicente guerrero, baja
Member Is Offline
Mood: relaxed
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the U.S. Insurance is really cheaper than anyone also. We paid 1/2 of any quote from anyone else. havve had it for 5 years mow. home owners. Not if
your house is old. they won't cover it
car great
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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bonita west doubles the medical coverage to $20k per incident $4k per person than i got previously. lets hope we never need it....
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Bichito
Junior Nomad
Posts: 29
Registered: 1-12-2012
Location: San Clemente or Points South
Member Is Offline
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Do people still feel the same way about Costco > Bonita West > Qualitas (or Mapfre)??
Apples to apples with coverage amounts it's pricing out very low for an annual policy (even with my Sentri discount elsewhere). It's no deal if the
service is terrible and there isn't follow-up when you need it... I'm OK if the adjuster only speaks Spanish.
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