Hello Client,
I have some updates for you.
This is a newsletter directly from me. If you don’t want to hear from me, please click here, and you will only receive “Operation Email,” like policy documents and renewal notices.
Insurance Rates and Renewals
Chubb increased rates last year, but as a consolation, enhanced towing to include “across the border” into the United States with a new limit of $1,000. The other carriers will not cross the border; their limit is $300 for towing a covered vehicle.
Qualitas recognized the peso-dollar valuation provided them with a natural rate increase and refused further increases. To make their program more attractive, they added:
- a Baja-Sonora discount
- Set fixed deductibles to compete with Chubb’s platinum product
- Partial theft and Vandalism to all policies
Mapfre held rates steady due to the peso-dollar valuation that automatically increased their rate.
The 2023 Insurance Company Rankings
All three Mexican auto insurance companies competing on the Mexinsurance® platform remained strong in 2023. Especially Qualitas, who not only dominated market share and sales growth to become the #1 company but also kept their loss ratio profitable. See the full report here.
The Vehicle Theft Statistics in Mexico
We released the final version of the 2023 vehicle theft statistics report from AMIS and posted the summary and results here.
Off Road – Baja 250 – San Felipe
If you’re heading down to Baja this weekend for the races, don’t forget to call, cruise by or go online to get your insurance. Please remember off-roading is at your own risk, and always list your towed units even if you don’t want coverage for them. You can log in here.
Anonymous Feedback Request
To create a world-class experience in person and online, we need constant feedback from all of you. Please complete our brief survey – it’s anonymous. (click here)
Respectfully,
Charles Lundy
Phone. 619.691.7747 x103
Email: charles@mexinsurance.com