I just wanted to relate another story about the demand for Mexican car insurance, and why it is that you need to comprehend what it is that you are paying for.
It some time ago I sold a motorcycle insurance policy to Bob for his new motorcycle. He wanted to make sure that he had ‘full coverage’ insurance. I wrote a policy that included both comprehensive and collision coverages, and a medical payments limit of five thousand dollars, with additional coverage of twenty-five thousand dollars in uninsured motorist coverage. The medical payments limit was the highest that I could write for Bob.
About nine months after the purchase of the insurance Bob had an accident. He laid his bike down in front of an approaching truck. Bob walked away from the accident with minor injuries, but his girlfriend, on the back of the bike, suffered dangerous injuries that required many months of hospitalization, and many surgeries. The approaching truck was uninsured at the time of the accident. Bob came to me after the accident wanting all of her medical payments to be covered by his insurance. I let him know that his medical payments coverages would pay him five thousand dollars, which was the policy limit, and that he had and additional coverage available under uninsured motorist of up to twenty-five thousand dollars.. Lamentably, her injuries far surmounted her available coverages. Bob was upset that not all of her expenseswould be covered.
I asked Bob: Up to what limit he expected the insurance to pay for her medical expenses? His answer was: Whatever is billed, into the millions of dollars. My answer to him was that he needed a health insurance policy not a property insurance policy in order to cover those type of expenses.
What does this have to do with Mexican car insurance? Bob didn’t comprehend what he needed or even what he had, and when most people travel to Mexico they don’t have any idea what Mexican car insurance covers and what isn’t covered. You don’t have to be like everybody else. Find out what it is that you are paying money for, and don’t end up like Bob.
