Acquiring auto insurance is almost an obligation. In fact, in 15 states of the republic, it is.
In those who don't, having auto insurance is a good investment. Especially given the increase in the percentage of thefts and vehicle accidents.
Protecting your investment, your assets and, most importantly, your physical integrity and that of your family is the most important. That is why it is necessary to have good car insurance.
Why is it necessary to purchase auto insurance?
Nearly 30 million cars circulate every day throughout the country, a figure that grows by 5.8% every year.
And even, there are places where growth is more accelerated.
For example, in the Metropolitan Zone of Mexico City, the vehicle fleet doubled in just 10 years.
That's right, in 10 years, the number of vehicles of the ZMCM went from 3.7 million vehicles to 9.5 million between 2005 and 2015.
Given the increase in vehicles in circulation, there is also an increase in accidents, often fatal.
According to the Pan American Health Organization, during 2012, Mexico ranked seventh worldwide in traffic accident deaths.
During 2017, 367,789 traffic accidents occurred in the country according to the National Institute of Statistics and Geography (INEGI).
In addition, Condusef reports that 70% of vehicles do not have auto insurance, while the cost of injuries, disability, and death due to accidents reaches $ 120 billion pesos each year.
If these statistics do not convince you to have auto insurance, maybe the following does:
On average, an accident costs the responsible $ 24,000 pesos. Auto insurance, on the other hand, can cost you as little as only $ 2,000 pesos a year.
And if you don't convince yourself, maybe the laws that make auto insurance mandatory finally do.
Where is it mandatory to have auto insurance?
Since 2014, the gradual obligatory nature of the Vehicle Civil Liability Insurance was established, which covers the transit of vehicles through the national territory and that causes damage to third parties in their property, bodily injury, temporary and / or permanent disabilities or death.
All insurers that have auto insurance cover this concept.
Therefore, as of 2019, no matter the model or the value of your vehicle, your car must have insurance.
In case of not having it, the owner of the vehicle can become a creditor of fines of between 20 and 40 UMAs (between $ 1,612 and $ 3,224 pesos).
Entities where it is mandatory to have auto insurance
What is CONDUSEF and what does it have to do with insurers?
CONDUSEF stands for the National Commission for the Protection and Defense of Users of Financial Services.
The Condusef is the institution in charge of giving guidance, attention and receiving the claims of the users of financial services. That is, banks, AFORES, investment companies, and insurance companies, among other products in Mexico.
When a user of any financial service endorsed by the authority has a complaint, he can receive the Condusef to follow up and determine if a sanction is necessary.
As part of the Condusef, the Bureau of Financial Entities groups different information about various sectors. Among them are insurers.
In the Bureau, users can compare all insurers operating in Mexico on issues such as:
• Your offer of financial products (with a listing of operations included)
• See in detail claims, controversies, percentage of resolutions favorable to the user and average response time
• User service performance index
• Sanctions and amount thereof
• Compliance with Condusef records
• If they have financial education programs
• And the evaluation of Condusef to the product of the insurers
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