It’s relatively well known that Mexico does not accept foreign auto insurance as valid. When traveling to or through Mexico, you must carry Mexico auto insurance in order to drive legally. But say you’re coming back from your trip and plan on going back in a few months. Can you simply keep your Mexico car insurance policy? Can you put it on hold?
The answer is complicated, as it’s both yes and no. You can keep your Mexico car insurance as long as you pay for it, but you may not want to. Just as Mexico doesn’t recognized U.S. car insurance policies as valid, the same is true in reverse. If you bring your vehicle back to the U.S. with a Mexico car insurance policy, you will still need an American car insurance policy in order to drive legally. While many coverages between the two policies are similar, neither will protect you or your vehicle while in the other country.
When you’re traveling or vacationing in Mexico, most Mexico car insurance policies will only last the length of your stay. Mexico auto insurance providers are unlikely to continue to insure the vehicle once it has crossed the border into the U.S. due to the high risk. If you wish to visit Mexico again after leaving, you will likely have to purchase another auto insurance policy.
How Often Do You Pay Mexico Auto Insurance Premiums?
If you’re visiting or vacationing in Mexico, you will likely pay for Mexico car insurance per day. This is relatively inexpensive, although this insurance also takes into account your driving record, the value of your vehicle and other factors. On average, visitors can pay as low as $5 a day for Mexico car insurance.
Who Can Buy Mexico Auto Insurance?
As in America, drivers in Mexico must meet certain requirements. You must have certain documents and information. Drivers must be at least 21 to insure a vehicle in Mexico. You will need:
Mexico requires a certain amount of car insurance for all drivers, including vacationers and visitors. Anyone planning to drive in Mexico must carry at least $300,000 in liability coverage to protect other people on the road in case you cause bodily injury or property damage while operating the insured vehicle.
Liability insurance isn’t the only coverage offered by Mexico insurance providers, however. You can purchase the same type of coverages as on your personal American car insurance policy. This includes:
- Comprehensive Coverage*: Comprehensive coverage provides compensation for damages to the insured vehicle due to fire, wind, hail, falling objects, lightning, theft and vandalism.
- Collision Coverage*: Collision coverage provides compensation for damages to the insured vehicle due to collision with another vehicle or object.
- Uninsured/Underinsured Motorist Coverage: This coverage provides compensation in accidents involving a driver not carrying insurance.
- Medical Payments: Medical payments helps with the medical expenses of the driver and their passengers after an accident.
- Roadside Assistance: Roadside assistance can help with expenses related to trip interruptions, such as changing a flat tire, running out of glass, towing and more.
*You can only purchase comprehensive and collision coverage in Mexico auto insurance if you have the coverage on your American insurance policy. Uninsured motorist coverage is also crucial, as there are many uninsured drivers in Mexico. Before travelling, make sure to double check your American auto insurance policy and purchase a comprehensive Mexico auto insurance policy to guarantee your vehicle is protected.