Car insurance is protection that is contracted through a policy so that in case of any incident that
happens to your car, you are financially supported and protected.
Insurance protects your patrimony from accidents that may occur; it is a financial safeguard to
any vehicle owner or driver and can be extremely useful and necessary to have a policy with full
coverage.
A proper policy should cover at least 85% of the total of the insured goods, contemplating, of
course, material damages, total or partial robberies, accidents, and civil responsibility with
respect to material, physical, or even lethal damages to third parties.
This is extremely important because, depending on the circumstances of time, place, and manner,
in case of being responsible for these damages and/or injuries to occupants or third parties
derived from such accident and not having this support, we could face more serious
consequences, including those of a criminal nature.
We may be very responsible drivers, but it is not difficult to imagine a situation where we are
driving our car, and an unforeseen event happens to us and we don't have insurance. We may not
be the one who caused it, but we could be the one who is financially responsible for it.
According to official information, there are more than 47 million motor vehicles registered in
Mexico, making us all exposed to accidental events.
Would you be prepared to speak to the police and negotiate your way through a tricky situation
or possibly face a heavy expense and perhaps end up in debt?
Also, consider that in the case of robbery, if you do not have insurance you could lose part of
your patrimony, a car accident may require the repair of damages, with insurance you would
only have the responsibility of assuming the deductible for damages caused.
If in the accident there are third parties involved, they may need medical care and in case of
severe injury, there could be a criminal proceeding. Insurance provides you with legal and
medical assistance in case you need it.
In Mexico having a car accident often is considered a criminal act and the parties involved in the
accident are treated as such… criminals. Auto insurance is the best way of putting a line of
protection between you and the authorities, as well as protecting your family, your assets, third
parties, and property.
I also highly recommend having a “Legal Policy” that covers the legal acts that are often
required to “facilitate” action from the insurer. This is a policy that you can purchase covering
car insurance, renters’ insurance, and commercial property, as well as it protects us as the
proprietor of a home that we are renting to a third party.
In the case of renters insurance, the policy protects the owner from lack of payment, damages,
and the entire eviction process which can be lengthy and expensive.
The costs for Legal Insurance are nominal in comparison to the cost/benefit, policies range from
as little as USD 25.00 for the year for cars, and for Renter’s Legal insurance the “renter must pay
for the policy which has a cost of 25% of one month’s rent…so no cost to the owner.
Better safe than sorry…
Best regards,
Angel.
Thank you all for your questions this week. For more specific information on Inmtec Legal
Services™, Inmtec Title Services™, Inmtec Insurance™, Estate Planning, Asset Protection, and
AfterLife™ Medical Advocacy by Inmtec™, please contact Angel Marin Díaz
at info@inmtec.net, 415 121 9005 or www.inmtec.net.
*AfterLife™ Medical Advocacy is a national program available exclusively through Inmtec™
that sees to the professional production of all the documents needed to oversee issues such as
medical advocacy, pre- and post-death planning, the care and transport of physical remains, and
all issues regarding probate and emergency contact communication with friends and family for
the peaceful transition of assets.
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