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Tips for Buying Mexican Insurance

Tips for Buying Mexican Insurance

We receive many calls from customers who would like to know more about Baja Bound and how we do business. Although choosing an agency is important in case you need assistance with a policy or claim, it may be more important to know how your insurance company works if you have a claim.

Chubb and HDI Seguros work in a tourist friendly manner and offer these features:
  • Repairs may be made in the U.S. or Canada when possible
  • U.S./Canadian repair rates are used, not Mexican repair rates which can be significantly lower
  • Claims may be settled in U.S. dollars
  • U.S. toll free numbers are available to follow up on claims
  • Claims service is available 24 hours a day
Why is it important that repairs and claims may be paid at U.S. and Canadian rates?

No other feature of Mexican insurance is more important than how the insurance company will pay your claim. Other insurance companies may not pay a claim using U.S/Canadian rates like our companies do and may pay you in Mexican pesos and/or at Mexican repair rates. This could mean that you may be required to have your vehicle fixed in Mexico or they may pay you a fraction of the cost of repairing the vehicle in the U.S. and Canada. This may be OK if you live in Mexico, but if you are a visitor and need to get home, this can be inconvenient. If you decide to leave and get your car fixed at home, you may end up paying up to 2/3 of the repair out of your pocket. That does not sound like full coverage to us! Our repairs and claims are settled in the U.S. and Canada whenever possible.

How are claims paid?

Claims are paid in a similar fashion to that of the U.S. Once the claim is filed, all the necessary paperwork will have to be submitted and reviewed. If the vehicle was damaged, a repair shop will be selected and the repair will begin. If the vehicle was stolen and not recovered within a certain period, the insurance company will either pay you if you are the registered owner and/or your lien holder.

Important points to consider if you have a claim:
  • Report the claim in Mexico before leaving. They may need to send out an adjuster.
  • Obtain all necessary police reports before leaving Mexico.
  • If the vehicle was stolen, you will need to report it to multiple authorities. An adjuster can help you with this.
Our underwriters:
chubb

Learn more about Chubb Seguros.

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hdi

Learn more about HDI Seguros.

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