marina
Newbie
Posts: 4
Registered: 12-17-2012
Member Is Offline
|
|
Extra liability insurance: needed or not?
So I see the price of Mexican car insurance has increased quite a bit. I know I need it but does it make sense to pay the $100-200 extra for increased
liability or just do the regular minimum liability.
|
|
|
Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
Member Is Offline
|
|
In October the REGULAR MINIMUM on Mexico's federal highways was increased to $300,000 U.S. dollars.
|
|
|
mtnpop
Senior Nomad
Posts: 597
Registered: 9-8-2009
Location: Colorado/mulege
Member Is Offline
|
|
I seem to remember that not too long ago Mexico also raised the death benefit to $500,000.
So, what is your peace of mind worth??
If you go with the absolute minimum, then be very careful... We also installed a dash cam to hopefully have a record of any problem..
Common sense is a flower that doesn\'t grow in everyone\'s garden.....
A wise man once spoke nothing.....
Never kick a cow chip on a hot day!!
|
|
|
DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
|
|
How FAST the company responds is important. A billion dollars worth of insurance is worthless until the adjuster shows up and soothes the ministerio
publico. Folks keep forgetting there are THREE entities that must be satisfied with hard cash.
The plaintiff
The Police
The ministerio publico
Until all three are satisfied the accused stays behind bars. No bail before a trial.
A Lot To See And A Lot To Do
|
|
|
sancho
Ultra Nomad
Posts: 2524
Registered: 10-6-2004
Location: OC So Cal
Member Is Offline
|
|
I believe it was Jan 1 of this yr., the amount a Mex Ins MAY
be required to pay out, in the event of a death caused by a
policy holder of their's went up 10 fold, whether or not awards
will be paid in the new amount is not yet clear. Both the San Diego
Mex Ins Brokers, whom people on this board are familiar with
suggest the max libility, $500,000. Different states in Mex have
different amounts, Baja No. is less that Baja Sur, go figure,
even the Mex Ins kiosk at the border at San Ysidro has $500,000
as their standard amount on their daily policies. The SD brokers
can not remember a case that one of their policy holders caused
a death, but the outside chance remains , I can't
imagine the anxiety one would face if one was underinsured
in the event of an accident
|
|
|
J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
Member Is Offline
Mood: Easy Does It
|
|
We just renewed our Mapfre Tepeyac liability this morning .no change from last year. as per my Agent that I have used for over 10 years the new raise
in rates applies To Mexican Citizens only. 
|
|
|
Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
Member Is Offline
|
|
J.P. Sure would like to see a little note from your agent on that one. The law I'm reading says drivers of motor vehicles (on Federal Highways).
[Edited on 12-9-2013 by Osprey]
|
|
|
CortezBlue
Super Nomad
Posts: 2213
Registered: 11-14-2006
Location: Fenix/San Phelipe
Member Is Offline
|
|
| Quote: | Originally posted by marina
So I see the price of Mexican car insurance has increased quite a bit. I know I need it but does it make sense to pay the $100-200 extra for increased
liability or just do the regular minimum liability. |
I use my AMEX car and for $29 per rental they provide Liability insurance. But, you MUST take the collision. as far as I know, the rental car
companies won't let you go without it.
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”
- Albert Einstein
Follow Cortez Blue
www.cortezblue.com
We put the FUNK in disFUNKtion |
|
|
MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
Member Is Offline
Mood: It's a Zip-a-Dee-Doo-Dah Day
|
|
As an extra precaution...............
In the event you run down someone.
Carry a shovel ?
|
|
|
sequoyah
Junior Nomad
Posts: 98
Registered: 11-13-2013
Member Is Offline
|
|
I used the roadside assistance that comes with it just once.
And that alone made it worth it.
Plus, it is a goal of mine to never go to jail, particularly in Mexico.
|
|
|
sancho
Ultra Nomad
Posts: 2524
Registered: 10-6-2004
Location: OC So Cal
Member Is Offline
|
|
| Quote: | Originally posted by Osprey
J.P. Sure would like to see a little note from your agent on that one. The law I'm reading says drivers of motor vehicles (on Federal Highways).
|
I just recieved an email form one of the San Diego Mex Ins
Brokers, they state, the newer liability requirements apply to
anyone in the Republic of Mex, I think the post you are
referring, if I'm reading it correctly, says the rates/price of a policy from Mapfre
hasn't inceased in price from the previous yr., as opposed to
making reference to the new liability regs
|
|
|
![[*]](images/xmbforum/default_icon.gif){kind=icon}
