I often find that confusion lingers over the application and definition of two different types of Liability Limits, even among insurance salesmen with a great deal of experience. I often see agents advising buyers to avoid of Split Limits, as if there is something to fear after the deal is made.
In actuality, this fear scheme i... Read more
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There is a HUGE difference regarding Mexican Auto Insurance policies and the kinds of electronic policies found across the World Wide Web.
When policies produced on paper are issued, they are usually the product of a traditional method used by people selling insurance. These salesmen usually reside in smaller local offices and send the policies to Mexico through mail. In other words, the agent fills out all the paperwork manually, goes to the post office and mails your policy to Mexico. Many agents in order to minimize costs, don't mail anything until they can send 5 or 6 policies at one time. So your policy may be delayed for a few days. Then there is getting through customs and to Mexico City to one of the major insurers there. Once received, the policies are then processed and entered one at a time into a database connected to a master computer. Suppose the insurance company hasn't received proof of your policy yet and you have an accident? Even worse, it is a weekend and most of the insurance agency offices are closed. In the United States, there is a law called the English Common Law. However, in Mexico, they follow a law founded on the principles of the Napoleonic Code. So, in Mexico, you are viewed more as guilty unless and until you can prove you are innocent.A car accident is considered a felony and the police will jail you unless you can show them your valid Mexican insurance card or pay whatever they say are the damages by cash or check right then and there. Unfortunately, the policies of the United States and Canada are not honored in Mexico. The importance of your insurer to confirm your coverage in a quick manner is vital, as the Mexican police will hold you and possibly confiscate your vehicle until you provide evidence that you can pay for any damages they say you have caused. Electronically generated policies are made available to insurance company claims personnel 24 hours a day and can be downloaded into their verification systems in minutes. This allows for quicker response & verification time while you are on the road.
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Remember, the right charterboat insurance policy for you is one that insures both your boat and charterboat business.
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