Mexican Insurance February 09, 2005, 11:13:38 pm Yahoo Message Number: 50603Hi! I have a question for those folks more knowledgible than I, about Mexican RV insurance. In 'Mexican Automobile Insurance' by David Eidell, Mr. Eidell states "Collision coverage premiums are based solely on the declared worth of the coach, but take note, the company will pay but rock bottom (blue book minimum) for a loss".Lets say someone has an LD that they are pretty sure would sell for $48,000. Lets say further that the NADA appraised retail value is $40,000, and the NADA wholesale value is $30,000. Does the above statement by Mr. Eidell mean the insurance company will only pay up to $30,000 in the unfortunate event of a total loss? And that this person should only buy collision coverage for that amount because the extra $80 for coverage up to $50,000 would be wasted? That the way I read it. An american company in the US would have no such restrictions and would pay whatever it takes to repair or replace the coach, according to my insurance agent.Thank you-thank you to anyone who wants to give an opinion on this.TJ
Re: [Life With A Lazy Daze RV] Mexican Insurance Reply #1 – February 10, 2005, 12:32:49 pm Yahoo Message Number: 50610I've travelled Mex for 25 yrs. or so, fortunately never have had a accident, David Eidell, who has been passing out Mex. info for years, his experience and knowledge of Mex and Mex Laws and Customs in my opinion, is second to none, any opinion he says or writes, I would believe, Mex insurance policies are full of fine print, disclaimers etc. Policies often state any repairs to be done inside Mex., to me that is suspect, your US carrier will often keep your collision in force some distance into Mex., check with your US carrier, obviously, you must obtain a seperate Mex Libility Policy, if D. Eidell states a Mex collision policy pays only actual value, I would bet it refers to, as you stated, some figure much lower than what LD's fetch on the open merket, Lewis and Lewis Insurance, a broker in Los Angeles, is a major player in Mex. Ins, they may give you a more exact answer
Re: [Life With A Lazy Daze RV] Mexican Insurance Reply #2 – February 10, 2005, 12:46:43 pm Yahoo Message Number: 50613Let me start by saying that I don't buy collision insurance from my Mexican insurance agency. So, I haven't had to deal with these questions. I may have to figure it out though as my current company will not write for RVs after this year. What I have now, is a rider on my US policy that covers collision in Mexico as well as the US as long as I carry Mexican liability insurance. If you can find this, I think it is preferable because your replacement values will be the same whether in the US or Mexico. Not to say it wouldn't be a bit of a paperwork hassle as you will need police reports and possible other paperwork from Mexico. Still, why pay for a 2nd collision policy if you don't have to.If that is not an option, then I would ask these questions to the Mexican insurance company and get their answers in writing. It should say right on the policy what would be paid in case of the vehicle being totaled. These companies all have offices and a corporate presence in the US and in that sense are under many US laws against misrepresentation. There will be ways to slide out of it just like US insurance companies do, so pay close attention to what kind of documentation you will need to prove a claim and what calls you must make. I think all insurance companies are extortionists and about as honest as Al Capone so I never have much expectation of actually getting paid what they say I will; but I have to pay and I'll do my best to hold their feet to the fire if I ever have a claim. All that is just money and paperwork, for me the important part is the liability insurance and the legal representation that says they'll send their boy to my side and that he will fight to keep me out of jail. For that, I pay more than the cheapest rate around as I have heard from others that Lewis and Lewis is pretty good at this.Jonna, in Punta Perula, Jaliscowindy today, but sunny and warm. There are about 12 sailboats anchored behind the point in our bay waiting out the rough seas. I should have realized this little weather pattern was coming in when I saw so many run in and anchor yesterday.
Re: [Life With A Lazy Daze RV] Mexican Insurance Reply #3 – February 10, 2005, 12:53:40 pm Yahoo Message Number: 50615Quoteyour US carrier will often keep your collision in force some distance into Mex., check with your US carrier, obviously, you must obtain a seperate Mex Libility Policy, if D. Eidell states a Mex collision policy pays only actual value, I would bet it refers to, as you stated, some figure much lower than what LD's fetch on the open merket, Lewis and Lewis Insurance, a broker in Los Angeles, is a major player in Mex. Ins, they may give you a more exact answer Hi Thank you for your prompt answer. Yes, unfortunately, my US RV insurance company only covers collision 75 miles south of the border. I have several quotes, one of which is from Lewis & Lewis. I will, per your suggestion, ask them specifically about the amount of coverage needed for my specific LD. Strange though, is that coverage for the 16 days I need, and for a full year, are about the same premium. TJ
Re: [Life With A Lazy Daze RV] Mexican Insurance Reply #4 – February 10, 2005, 01:10:57 pm Yahoo Message Number: 50617QuoteAll that is just money and paperwork, for me the important part is the liability insurance and the legal representation that says they'll send their boy to my side and that he will fight to keep me out of jail. For that, I pay more than the cheapest rate around as I have heard from others that Lewis and Lewis is pretty good at this.Jonna, in Punta Perula, Jalisco Thanks Jonna Lewis & Lewis is looking pretty good. As you say, its slightly higher, but its for a year, and the legal reprsentation is basic, not an add-on, and quite a few people on this site recommend them. I think when my present RV insurance expires (Allstate, a company I have used for everything forever, and have allways been satisfied with) , I will look for RV insurance that will provide collision coverage into Mexico. Have a great day! TJ Red 23.5 TK, Whidbey Island, Wa , Sunny and about 55 degrees
Re: [Life With A Lazy Daze RV] Mexican Insurance Reply #5 – February 10, 2005, 06:37:37 pm Yahoo Message Number: 50619To Bajarat51, a little follow-upHi I contacted Lewis & Lewis agent and asked specifically what the coverage would be on my specific year and model LD. They said "current market value of your vehicle (mid blue book value)". This means if you have a certain year and length LD, low milage, well cared for, and with thousands of dollars worth of extra equipment, you will receive, in the event of total loss, the same amount that a piece of rolling junk of equivalent year and length will bring its owner. So if you have a several year old, very nice LD worth a lot more than bluebook, dont pay for extra collision insurance thnking you will receive actual value. Save your money. Pay only for collision insurance up to bluebook. (I'm talking Mexican insurance here). TJ
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Topic: Mexican Insurance (Read 4 times)
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