Mexico is, without a doubt, one of the countries where the vehicle fleet has been increasing more and more, so insuring the car is of the utmost importance.
Data from INEGI reveal that, between 1980 and 2020, the year of the pandemic, the number of vehicles duly registered and in circulation in Mexico multiplied more than eight times.
Thus, until a couple of years ago, the Mexican car fleet was 50.3 million light and heavy vehicles.
In this context, it is clear that the vehicle fleet will continue to grow, which, among other things, could cause various mishaps for motorists, which, consequently, would generate unforeseen expenses, economic imbalance and legal problems that will have to be faced.
Given this, the need to have good car insurance is increasingly latent, since, by insuring your car, you also guarantee your investment, your safety, your assets and the responsibility of those who travel with you.
That is why it is very important that, before insuring your car, you analyze the sum insured and the coverage you are contracting. Here are some points:
- Invoice Value: Generally, they are granted for the first 12 months from the invoice date of your vehicle.
- Agreed Value: This value is agreed at the beginning of the insurance contract and is respected throughout the term. If you choose this option, you must do a market analysis to confirm that the insurer is giving your vehicle an adequate value.
- Commercial Value: Unlike the agreed value, this is NOT a fixed sum insured, since, in the event of an accident, the insurer will take as the sum insured what is established in the EBC GUIDE (In most cases) and this value depreciates monthly to month
How important is the insurer you choose when it comes to insuring your car?
Once you have selected your coverage and reviewed the sum insured for your vehicle, another important factor is the insurance company you will choose, since the SERVICE that you will have at the time of an accident:
- Provider network in agreement. (Agencies, multi-brand workshops, cranes).
- Network of adjusters.
- Branches nationwide.
- Supplier arrival times at the scene of the incident.
Response times in case of compensation.
Taking into account the previous points, you will be able to make the best decision for hiring your policy since the cheapest insurance is not always the best. Remember that there must always be a balance between cost / benefit.
Equinox Insurance and Bond Agent offers you the ideal insurance for your car:
Our Experts will help you choose the insurance that best suits your needs.
We have the best insurers in the market, guaranteeing excellent service, the best terms and conditions, as well as excellent prices and promotions.
We are at your disposal 24/7 and we accompany you in case of any eventuality.
If you want to know more about this topic, we invite you to continue reading on what you should know before insuring your car.