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If I go to Mexico, will it affect my cost?

There are many factors which can affect your car insurance rates if you are planning to travel into Mexico. It is advisable to you to contact your insurance company to ascertain if their coverage extends past the country's borders or not. There are several companies whose coverage will extend to a specified amount of miles across the border. If not, there are many insurance agencies in Texas or in Mexico who can offer short term coverage to travelers. You will want to make certain of the facts rather than making assumptions. An automobile accident can cause untold amounts of trouble and financial loss whether in the United States or Mexico.

The laws governing the necessity of car insurance in Mexico are similar to those in the United States. The most common factors that will affect the rates you pay for car insurance in Mexico will include the length of your stay, your driver's license record, what sort of car you will be driving, and the part of the country you will be driving too. Unfortunately today, Mexico is seeing an upsurge in violence in some areas of the country due to drug activity. You can expect your insurance premiums to be considerably more expensive in these areas. Other factors in the area of your destination, like congestion, will influence your rates. The length of your stay in Mexico will also influence the rates you will be paying for your car insurance. Generally, the longer you are away from the United States, the higher your insurance premiums will be. However, you can purchase an annual policy from a Mexican car insurance company at a discounted price. Your vehicle information will affect your premiums much in the same manner as it would in the Untied States.

The guidelines for the forms of coverage you are required to carry while in Mexico are identical to the forms you must carry in the United States. The monetary forms of coverage you will be required to have will vary according to your geographic location. You must maintain liability insurance on your vehicle at the very least. Collision insurance will be required if there is an outstanding loan on your vehicle, and comprehensive coverage may be added as a supplement to collision insurance. Bodily injury protection and uninsured motorist coverage will also be available to you as add-ons. Many companies will extend you an offer of additional forms of coverage, such as rental car reimbursement or extended stay coverage. Another important fact to be aware of is if your car has an outstanding loan on it, the company through whom you financed your car must furnish you with a letter stating that the car is allowed to leave the country. You must have this documentation before a Mexican insurance company will extend coverage to you. A bank considers it a high priority to be aware of a vehicle's location as long as they hold the title to the car.


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