The Federal Road, Bridge and Highway Transport Law stipulates that driving without auto insurance that guarantees damages to third parties could result in a fine of 20 to 40 days of the minimum wage. That is, the motorist could pay more than 203.13 dollars this year. It should also be noted that in half of the country, it is mandatory to have a policy, and each state has its regulations and amounts of penalties for not acquiring insurance. For example, in Mexico City, the sanction can reach more than 152.35 dollars, in Nuevo León the sum to be compensated is around 81.25 dollars.
But car insurance not only avoids fines and problems with the law, but it is also the best way to invest to solve any future incident. And it is that a road collision that causes the death of someone could cost up to two hundred million dollars, and people who are admitted to a hospital could borrow with amounts greater than their salary. This is according to the Mexican Association of Insurance Institutions (AMIS).
What Do You Need To Purchase Auto Insurance?
Most insurance companies require the following hiring requirements:
- Current driver’s license.
- Private car of national or resident origin. If it is a pickup, it must not exceed 3.5 tons.
- Details of the contracting party: full name, age, RFC, date of birth, the gender of the driver, email, address, telephone and age.
- Car features year, model, brand, version, VIN, license plates.
The payment method can be annual or split monthly, quarterly or semi-annually. Many companies offer interest-free payments. Also, insurance settlement can be made with credit cards, debit cards, bank transfers or at any convenience store.
The Comparator for Insurance contributor offers personalized assistance for any questions you may have in hiring the vehicle policy. Once you have the vehicle insurance, it is necessary to know the terms and conditions of the contract so as not to have any problem when calling the insurance in case of an emergency.
So Where Is Car Insurance Contracted?
Each insurance company has an online quote, although if you want the process to be as fast and straightforward as possible, online comparators are the best tools for getting a policy.
Some big auto insurance companies show in less than a minute the prices, benefits, sums insured, hiring forms of several panel companies.