MEXICO INSURANCE FAQs
Most of the Insurance companies are already including the liability coverage for the USA for Mexican registered vehicles. This does not apply for commercial vehicles, as these do require a separate policy.
Normally, the third party would pay for your deductible (assuming they have their own insurance), but this is something the insurer cannot guarantee since this recovery is based upon the collection from the third party.
There are some standard exclusions such as partial theft (tires, mirrors, etc) and vandalism. Also you have to be conscious of the deductible that your policy has for your own damages. These deductibles are sometimes a % of the commercial value of the vehicle or can be a fixed amount (please read your policy carefully).
It’s an absolute exclusion in commercial units and in most tourist auto policies.
You need to be aware of the type of policy you buy, if its full coverage, covers your own physical damage; if its limited coverage it covers the total theft of the unit and all policies include the third party liability and legal assistance which is the basic coverage. In the case of pick up trucks, have to state its use, because if normally carries loads, then it needs to be quoted as a commercial unit.
Unless it’s within the 30 days grace period, the policy needs to be paid.
Yes, you need to have a valid driving license and according to the type of vehicle you drive, meaning that if it’s a commercial vehicle, a truck, a corresponding valid license, has to be in place.
All policies include the third party liability coverage and legal assistance, which could include a bail bond in case of a major accident; medical expenses and other coverage’s (material damage and theft) are optional.
In Mexico, there are several types of auto policies, being the main one, Resident Auto (vehicles registered in Mexico). There are also tourist auto policies, both northbound (Mexican vehicles entering the USA, also known as Non-Resident Auto) and southbound (USA vehicles entering Mexico). Resident auto policies are divided into Trucks –commercial coverage- and private vehicles.