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Purchase of insurance in Mexico remains low as compared to other developed countries and as result consumers contribute a small part of the gross domestic product. Since the last ten years, Mexican insurance market has shown steady growth and development. There are about 64 insurance companies are doing business in Mexico.

In 1999, insurance premiums had accounted value 77566 million pesos which is about $8.5 billion. Life insurance plans in Mexico includes Term insurance, Universal insurance and Whole life insurance. Firstly, term life insurance offers basic life protection for a certain period of time. Universal life insurance provides more benefits as it guarantees the possibility of withdrawals as well as income tax revenue. Whole life insurance plans offers complete and reliable protection to policy holders.

Health and medical insurance in Mexico cover expenses up to $50, 0000 dollar per year which is renewable every year. Medical insurance covers all medical defects like birth or premature defects. If you travel in Mexico, you will need to be properly insured for you health, car or RV etc. Some US and Canadian health insurance provide medical coverage in Mexico but not all so insuring your vehicle in Mexico is essential. If you require any medical attention, then Mexico will not be paid in full for this. Mexican auto insurance companies are ACE Seguros, Genworth Seguros, Mapfre Tepeyac.

To drive in Mexico, minimum required auto insurance coverage is civil liability insurance. This insurance protects you when you cause bodily injury or property damage to third parties. If you do not have auto insurance in Mexico and you have an accident while driving in Mexico then you can be put into jail. Mexico auto insurance includes fire, theft of the vehicle, collision, glass breakage, property damage, legal help, medical expenses or travel assistance. Mexico authorities do not accept Canadian or US insurance policy. Liability coverage is the minimum coverage of Mexico insurance you should carry. In case of an accident, Mexico insurance policy will prevent you from criminal action whether you are at fault or not. Your Mexican auto insurance policy covers road side assistance also.

Mexican insurance companies provide Mexico auto insurance by Mexico National Insurance Commission for cars, RVs and Travel trailers, Motorcycles, Power boats or Jet Skis. Liability in Mexico is determined by civil law and purchasing liability insurance from Mexico insurers will not respond to claims or suits against you in US for an incident which occurs in Mexico. There are various rates, coverage and deductibles among Mexican automobile insurance companies. When you are want to purchase any type of insurance in Mexico, you should analyze a number of issues like are the US broker and Mexico insurer has sound financial position? What is the difference between both the insurance companies and does the insurance agent have experience in Mexicans market?

Mexico is a gorgeous country and many people love to come Mexico over again and again Mexico is not a safe place for tourists so you should consider purchasing travel insurance for Mexico You should require special auto insurance in Mexico, so auto liability insurance is a good idea. Any unexpected situation can arise during your vacations in Mexico.

Travel insurance plans for Mexico vacations include coverage of trip cancellation due to sickness, injury or any problem. It provides protection against additional expenses, in case of burglary or reimbursement for medical expenses incurred overseas. Mexico home insurance policies are similar to policies offered in U.S. These policies include coverage of repair or replace your home and its contents in case of any loss or damage.

Some Mexican companies offer All Risk policies and other offers Named Peril policies with some deductibles. Coinsurance in Mexico is a share in the penalty loss applied after the deductibles. One of the world's largest brokerages named Jim and his wife Andrea who works in the personal Mexico unit and would travel to Mexico to meet colleagues at largest Mexican insurance companies. Mexico insurance professionals has a dedicated staffs of 15 licensed agents provides both commercial and personal insurance for Mexico.

Major life insurance companies in Mexico are GNP insurance, BBVA Ban comer insurance, MetLife Mexico life insurance, Argos insurance, ING commercial America insurance etc. The leading non-life insurance companies are Qualitas insurance, Inbursa insurance, Zurich life insurance and GNP insurance. Among various types of insurance companies, life insurance is doing well in Mexico.