Yes, you do. It’s the law.
(But don’t worry— we make it easy.)
Mexican law requires boats and watercraft to have liability insurance provided by a company based in the country that owns those waters.
First, the good news…
Getting legally required insurance for your watercraft while it is IN the water in Mexico is easy. You only need to purchase liability for your boat in Mexico. Theft and collision coverage that boaters already have will cover their boat no matter where they go. The liability portion, however, must be provided by a company with a domicile in the country that owns those waters.
Now for the bad news…
Even with liability your boat may not be completely protected. When your boat is NOT in the water (for example, when it is being towed), your watercraft insurance is not valid. Therefore, you need two policies: a liability policy for when your boat is in Mexican waters and insurance on your watercraft when it is out of the water in Mexico.
But not to worry…
MexInsurance® is ready to get you covered, on and off the water, and eating fresh fish tacos in no-time! The solution is simple. All you need to do is add your trailer and boat to your auto or RV policy. Our online quote system will prompt you to include that information. You won’t even have to go looking.
Sailboats Powerboats Yachts Recreational Watercraft (i.e. jet skis)
Daily Policies start at $3.50/day. Annual policies start at $110/year.
Over a month or so I had many questions for Charles. He got back with me the same day and always answered all my questions. By the time we bought our policy I felt confident that this is a very good company. I spoke with him on the phone once, extremely professional. Highly recommend by me.
Requiring liability insurance allows Mexico to protect its citizens. Liability coverage pays for the other driver’s expenses if you cause a collision. So, if you cause an accident in Mexico, you will be responsible (AKA liable) for all the damage inflicted to both the people involved and the property involved. Requiring visitors to purchase insurance ensures that visitors have the ability to cover costs that may arise if they are in an accident. Liability does not, however, cover your expenses or losses.
Some people use boat and yacht interchangeably. When it comes to insurance, agents use “boats” to describe vessels up to 26 feet L.O.A. and “yachts” to describe vessels 27 feet L.O.A. and longer.
There are two basic types of boat insurance—“agreed value” and “actual cash value.” How depreciation is handled is what sets them apart. An “agreed value” policy covers the boat based on its value when the policy was written. While it can cost more up front, there is no depreciation for a total loss of the boat (some partial losses may be depreciated). “Actual cash value” policies cost less up front, but factor in depreciation. In other words, the policy will only pay up to the actual cash value of the boat at the time it is declared a total or partial loss. Eventually, as your boat ages, your insurer will likely insist on an actual cash value policy—and if often gives a substantial savings.
There are a few ways to reduce your boat insurance costs. For example, if your boating is restricted by seasons and your boat is in storage during the winter, you can get deductions for winter layup. Many insurers offer discounts for good driving records and for anyone who has completed boater education classes. Finally, it usually costs less to be insured in fresh water versus salt, so be sure to discuss where you boat with your agent. You may earn extra savings by bundling your coverage with the same company that insures your home and/or car.
When you purchase a policy through MexInsurance®, you can travel confidently knowing that if you have a problem, it’s no problem… we have got you covered.
Need help with a claim? Reach out to a licensed Mexico insurance representative or customer service agent at our office in the United States. (Contact information can be found in the “Contact Us” tab above.)
Your agent is available to personally handle and escalate your case so that you get the attention you deserve.
“Insurance that’s good enough for your mom.”
—Charles Lundy, Founder & CEO
You only have to talk with Charles a few minutes to realize what’s most important to him…his son. As a single-dad, overly familiar with animated movies and math homework, he’s put his heart and soul into connecting with his son and giving him the best experiences childhood has to offer.
It’s with that same compassion and care that Charles developed MexInsurance®. And it’s with that same commitment to offering only the best products with the most reliable Mexican underwriters, that his team of insurance specialists is able to confidently provide customers with a quality experience and a quality product.
When you ask Charles what sets MexInsurance.com apart from competitors, he explains, “It’s insurance that’s good enough for you to buy for your mom.”
Charles means it when he says he wants every customer to get the same service and quality coverage that he would buy for his own family. He wants every customer (and especially their sweet mothers) to have insurance they can really count on if it’s needed.
With a corporate background in IT at several Fortune 100 companies, Charles was able to develop a seamless and extraordinarily secure online process for purchasing insurance.
Without the overhead of brick and mortar, MexInsurance.com is able to offer more quality at a more affordable price. Added features such bilingual assistance and access to a live service team come with every Mexican watercraft insurance policy.
MexInsurance.com is an exclusive broker of online Mexican watercraft insurance. We offer custom insurance solutions from Chubb, one of the top boat and yacht insurance companies in Mexico. We are bonded in the border states of CA, AZ, TX, and also NV.
Our bilingual team is eager and available to assist you with all your Mexican boat and yacht insurance needs so you can travel with confidence.