It’s always a good idea to invest in property insurance if you have a home or watercraft in Mexico. Having insurance on your Mexico property will help protect you in case of unexpected
Mexico Property Insurance
Mexico property insurance policies are not like those found in the U.S. and Canada because the terminology used and types of coverage offered are usually significantly different. Therefore, you can’t expect a standard policy to contain the same types of eligible coverage criteria in a Mexican property insurance policy that you may find in an American policy. As a solution for this difference, there are insurance companies in the U.S. that specialize in Mexican insurance law and policy-making. These specialty companies collaborate with the Mexican insurance companies to underwrite policies that are recognizable to Americans while still maintaining the legal validation of Mexico.
Unless you speak great Spanish and have no problem dealing with your insurance terms in Spanish, it will be best to have your policy prepared at one of these specialty insurance companies in the U.S. Having a familiar policy format for your Mexico property insurance may prove to be ingenious if you ever must file a claim in an already tense situation.
Check what’s included on standard policies
Moreover, US-led policies may have coverage options (for instance, third-party liability cover) that may not be found in the standard coverage for the Mexican insurance company. So, you may have to pay extra premiums for items that automatically would come in the standard policy with the specialist U.S.-based company.
Depending on what you want you plan to cover with regards to your Mexico property insurance, may be the determining factor for using a direct Mexican insurance company or one of the specialty insurance companies in the U.S.