Mexico Insurance Products
We offer 2 options for deductibles which apply to coverage for Theft of or damage to your vehicle.
FIXED DEDUCTIBLES: This option is similar to deductibles in the U.S. and Canada. Deductibles are set at $500 for collision and $1000 for theft, regardless of your vehicle value or the amount of damage.
The "FIXED" deductible option is required by most leasing companies and lienholders. By choosing this option your premium will be a little higher but your deductible will remain fixed. This means you will save significant money in the event of a loss (especially on vehicles valued over $25,000) when compared to the Percentage Deductible option
PERCENTAGE DEDUCTIBLES are the standard for Mexican Tourist Auto policies and remain the only option offered by most other agents. While this option reduces the premium by a few dollars, in the event of a claim it will cost you much more. If you choose to insure your vehicle using this option, the deductibles are 2% of the vehicle value for collision and 5% of the vehicle value for theft. But a claim is also subject to a minimum dollar amount. The MINIMUM deductible amount varies with each Mexican Insurer and the type of vehicle (car, SUV, pickup, RV, etc.). Please see the "explain" button on our "quote results page" for the MINIMUM deductible for each of our policy options.