Nov 8, 2011, 8:11 PM
Post #7 of 9
Although Mexico is less 'sue-happy', $50,000 seems to be a bit low for my comfort. I just today got a 6-month policy and chose $300,000 CSL (Combined Single Limit) Liability. I would not get less than $100,000 but that's just me. I would also remind you that some quotes cover only "Total Theft" which does not protect one, in Mexico, from such things as vandalism and partial theft. I personally always make sure I have coverage for the latter, which is sometimes referred to as the "Elite Package".
And this is also 'just me', but I would go online and get a couple of more quotes..... say from Lewis & Lewis and San Xavier.... just to make sure Jesus Tejada's quote was not out of line. There is sometimes quite a bit of difference between quotes and the online process is very easy. Both of these brokers have been in business for a very long time and one should be able to trust their products and reputation.
Also, some (all?) companies use 'ranges' for the car valuation, such that a $ quote is the same within that range. For example one range might be $15,001 to $20,000 so that you will get the same $ quote whether you value your car at $15,200 or $19,750. Now it is NOT this valuation that the insurance company will use in case of total theft. But for sure if you put only $15,200 on your policy (thinking you might be saving money on the policy) and your car would have actually been 'worth' more (say, $18500), you can bet you won't get more than $15,200. So put the highest valuation 'within the range' while not going over the actual Blue Book value of your vehicle. Also it is smart to have some documentation (proof) of the exact model and options on your vehicle and maybe even some pictures of said. Because without this, and in the event of total theft, you will have nothing to keep the insurance company 'honest' when they start valuing your vehicle. Obviously it would be important to keep this 'documentation' somewhere other than in the glove compartment of the (now stolen) vehicle :>)