How much is Car Insurance for Mexico?

Driving to Mexico soon? Don’t forget to buy car insurance for Mexico!

While Mexican law requires liability coverage for all vehicles, understanding the cost can be tricky. This guide will break down everything you need to know about Mexican car insurance for tourists, including:

·       Why you need Mexican car insurance

·       How much it typically costs

·       Factors affecting the price

·       Where to get Mexican car insurance

Why do I need Mexican Insurance?

Your regular US or Canadian auto insurance is not recognized by Mexican law. In the event of an accident, without the mandatory Mexican Insurance, you could face major consequences:

·       Financial responsibility: if you are at fault, you will be responsible for covering any damage caused to other’s vehicles or property. If there is a death of a third-party, you could face responsibility for indemnification of up to $300,000 US dollars. In addition, you will face fines of up to $1,000 US dollars.

·       Impounded vehicle: Authorities can impound your car until liability is settled.

·       Legal obligations: Dealing with the legal system in Mexico without proper insurance can be stressful and expensive.

How much does Mexican Insurance cost?

The cost of Mexican Car Insurance can vary depending on several factors:

·       Length of your trip: Mexico insurance policies are sold from one day to one year. If you plan to drive south of the border several times a year, you might find a six month or annual policy a better option, long term policies usually have considerable discounts.

·       Type and limits of coverage: Liability only coverage is the cheapest and mandatory coverage. However, physical damage, theft and medical expenses offer protection and peace of mind.

·       Your vehicle’s value: a newer more expensive vehicle will have a higher premium. It is important to know the ACV value of your vehicle and if it is financed the amount you owe to the bank to make sure you are insuring the vehicle for the higher amount of the two.

 Here is an example of Mexican Insurance cost.

Remember this is an estimate. The best way to get an accurate quote for your temporary Mexico insurance is to contact a Sanborn’s Mexico Insurance agent for a personalized quote.

·       Liability Only coverage - Meets the mandatory requirement, Includes legal and roadside assistance.

·       Physical Damage and Theft: In addition to the basic liability, this offers more comprehensive coverage, physical damage, theft, medical expenses for occupants, legal and roadside assistance.

Tips to save on Mexican Car Insurance:

·       Talk to a Sanborn’s Mexico Insurance Agent: they can help you apply discounts for long term and territory policies.

·       Choose your Mexico insurance coverage wisely: Liability coverage is mandatory, but consider physical damage, theft, medical expenses for occupants, and upgrade packages like the Premier Package. These coverages offer protection for your road trip to Mexico.

Where to get Mexican Insurance

There are three main options to purchase Mexican car insurance:

·       Visiting one of the Sanborn’s Mexico Insurance Locations

·       Buying your Mexican Insurance Policy Online.

·       Calling Sanborn’s at 800 222 0158 and one of the experienced and knowledgeable agents will help you buy your policy over the phone, and they will email it to you.

By planning and getting the right Mexican insurance coverage, you can ensure to have a safe, smooth, and enjoyable road trip to Mexico. Now that you know the cost of Mexican Insurance, you can factor this expense into your travel budget and hit the road with peace of mind!