Is the new auto liability limit of $1,000,000 mandatory? I'm told no.

I asked Claude Bellon for a quote (he gave excellent response time) and while it was slightly lower than Parker had given me, it had only $1,500,000 liability while Parker was at $3,000,000.

I asked if this was OK and Claude replied:

"The law requires a minimum of a $1’500,000 pesos. You can get the double, to cover additional damages. But with the 1.5 you are by law,A-OK"

Anyone think differently?

I was told $3,000,000 for the state of Jalisco by both Parker and by Actinver.

So, I presume that in this state it is three million.

Why save a few dollars and risk not having enough to pay for damages?

I'm with you Flamingo.....I've had 300,000 USD liability coverage(far exceeds pesos 3,000,000) since moving here in 2005. We are truly talking nickel dime cost difference. Full coverage, including the liability insurance, with a $500.00 USD deductible on my 2011 Ford Escape is $335.00 USD this year for annual single payment policy.

Oh and the law only recently increased to $3,000,000 pesos. I was called in mid February to come in and pay an additional premium to increase my coverage to $300,000 US. (which is more, of course, than 3 million pesos) I think my old coverage was only about $200,000 US; I don't remember.

My Broker was/is Parker

MexicoPete wrote:Oh and the law only recently increased to $3,000,000 pesos. I was called in mid February to come in and pay an additional premium to increase my coverage to $300,000 US. (which is more, of course, than 3 million pesos) I think my old coverage was only about $200,000 US; I don't remember.

My Broker was/is Parker

Pete, Parker burnt me on Medical Insurance, they failed to fight for right, Thru Spencer, fought and prevailed against insurance company......cancelled everything I had thru Parker......must admit they are a great choice though, they take your money with a smile......just wait till you have a tough claim!

Jim W wrote:I'm with you Flamingo.....I've had 300,000 USD liability coverage(far exceeds pesos 3,000,000) since moving here in 2005. We are truly talking nickel dime cost difference. Full coverage, including the liability insurance, with a $500.00 USD deductible on my 2011 Ford Escape is $335.00 USD this year for annual single payment policy.

The difference in cost for me was $500mxn

My agent is Jesus Tejeda. He came to my place on Saturday to give me my new policy and told me that he had included the new 1,000,000 peso liability coverage in it, which is now law, for all of his customers upon renewal. The increase in the lability and the decrease in comprehensive for the value of my vehicle and I actually paid less than last year.