The Mexican Tourist Auto Insurance Policy
What is covered? What is not covered?
Contrary to the more broad coverage of a standard US auto policy, a Mexican auto insurance policy is a "named peril" policy. More simply stated - exactly what is described as covered is specifically all that is covered - no more, no less. Policyholders should read their policy's Specification of Risk clauses.
WHAT IS COVERED
There are 6 primary risks covered by a Mexican auto insurance policy:
Risk 1. Collision, Upset, and Glass Breakage with a deductible of 2% of amount insured with a $100 deductible minimum.
Risk 2. Fire and Total Theft of the vehicle with a deductible of 5% of amount insured with a $200 deductible minimum.
Risk 3. Property Damage Liability (for the amount coverage is purchased).
Risk 4. Bodily Injury Liability (insured vehicle occupants are excluded).
Risk 5. Medical Expenses (coverage is limited to insured vehicle occupants).
Risk 6. Legal Service and Road Assistance
The above 6 risks of primary coverage are only a listing of some of the coverage available in a Mexican Tourist Insurance Policy. It should not be construed as an exact description of coverage for every policyholder, as that may vary from policy to policy depending on the eligibility of the vehicle, and the desires of the insured.
WHAT IS NOT COVERED
It is as important to know what is not covered, as it is to know what is covered. Keep in mind that a Mexican Tourist Auto Insurance Policy is a "named peril" policy, therefore, it is correct to presume that what is NOT described as covered means exactly that - NOT covered.
Pilferage - Theft of personal items (purse, camera, car radio, clothing, suitcases, etc.) from the insured vehicle.
Loss of wages - Employment absence due to accident.
(NOTE: The "glass breakage" described under Risk 1, provides coverage only in case of glass breakage resulting from an auto accident or fire, not as a result of any act of vandalism or pilferage.)
Although the purpose of buying Mexican auto insurance is to comply with Mexican financial responsibility laws while traveling in Mexico, it must be realized that it is not a "travel" policy. It is
strictly an automobile insurance policy with very clear and specific limitations to what it covers. And remember - if it's not specifically mentioned as covered - it is not covered.
ALL CLAIMS NEED TO BE REPORTED IN MEXICO!!!!