Mexican Insurance Deductibles

Mexican Insurance Deductibles

The mexinsurance deductibles under the Qualitas Tourist Automobile insurance program:

Mexican Insurance Deductibles

Standard Automobile and Passenger Truck/Van

  • Comprehensive (Risk 1): 5% or $1,000 whichever is greater
  • Collision (Risk 2): 2% or $500 whichever is greater
  • Liability, Legal and Roadside (Risks 3-5):  Zero deductible

An example to apply mexican insurance deductibles of a mexinsurance claim that involves the total loss of a car.

For example, a 2008 Chevy Silverado Stolen in a restaurant parking lot in Guadalajara. The customer purchased “Complete Coverage” with the value of truck set at $20,000.

In this case, the total Loss is $20,000. Therefore, the deductible is $1,000. As a result, the insurance company will pay the client (or lienholder if the client was making payments) $19,000.

Uninsured Motorist

Another example of an uninsured motorist claim. The same Silverado is involved in an accident in Mexico and a Mexican Insurance claim is filed. The details of the accident are that the Silverado was rear-ended at the border crossing by someone who took off. The Silverado did not want to leave their place in line, so they called Qualitas to file their claim. And adjuster met the client in line, took pictures and filed the claim. Because the vehicle was driveable he/she proceeded to return to the U.S., collected the adjuster’s information and they agreed to settle after estimates can be procured and reviewed. The mexican insurance deductibles in this case is outlined below.

Repairs in the United States?

The damage results in $4,000. The deductible is 2% or $500 in this case $500 is great so the insurance company will offer to repair the vehicle in Mexico, or pay the client $3,500 to have the repairs managed on his own in the U.S.

Mexican Insurance Deductibles for:

RV “Motorhome”:  

  • Comprehensive, total theft (Risk 1) 5% or $1,000 whichever is greater
  • Collision (Risk 2) 5% or $1,000 whichever is greater
  • Liability and Legal (Risks 3-5): Zero Deductibles

mexinsurannce policy infographic