Car insurance is a very important aspect of dealing with on travelling to any country. It deals with any damage dealt to the automobile or in the case of theft or in case the vehicle is lost while travelling to Mexico. Automobile Insurance provides safety against bodily injury or physical damage arising from accidents or its consequences. The specific details of car insurance are different for each country. It is compulsory in many countries to insure your vehicle.
Mexican Car Insurance Policy Coverage
There was a need for a separate car insurance policy in Mexico since the US insurance policy does not cover the automobiles in Mexico. Car insurance policies in Mexico cover property damage to third parties and medical damage that occur only if the involvement of the third party is there. Policies that provide full coverage for theft and physical damage are also available. The duration of the policy can vary from one day to one year. The overall cost of car insurance for one year in Mexico is less than what the policy costs in the United States.
The Need For Mexican Car Insurance
The Mexican authorities do not recognize US insurance policies and hence there is a need to buy Mexican Insurance policies when travelling to Mexico. In the case of an accident in Mexico, the driver that caused the accident is responsible for all the damages and he/she would be liable to civil and criminal liabilities. The amount can up to U.S. $300,000. The Mexican car insurance policy provides some relaxation in terms of possible jail time or the financial load that may occur on you. It is necessary to have “Mexican motor insurance “if you are involved in a car accident, even if there is no fault of yours in the accident.
Liability Coverage In Case Of An Accident
The obligation to pay money in case of an accident to the person suffering the accident is termed as a liability. The damages caused to other properties or vehicles in the case of an accident are covered by the liability component of the insurance. The cost for bodily injuries that may be caused to the parties suffering accidents may be also covered by liability.
In case you cause an accident in Mexico, then after a legal trial, if the court finds you guilty of causing the accident, then you will be responsible for any amount that has to be paid to the party that you caused the accident to. This cost will be determined by the court and may include anything from bodily injuries if there are any and may also include any reimbursements that may include the damages to the car and other properties. Then, under Mexican auto insurance policy, your policy provider will be responsible for the amount that you have to pay. The mexian car insurance tips are important to read when you are looking to buy a car insurance.
The fact that no US car insurance policy is accepted by Mexican authorities gives immense importance to a separate Mexican car insurance policy that covers all financial damages or other liabilities in case of any road accident. This decreases any burden that might be incurred by the person who caused the accident.