New Liability Insurance Coverages from State to State

I received this from MEXPRO today about the new Liability Coverages.
Posted on February 7, 2013 by roxanna
In many of our posts we have stated that the actual new maximum liability limit in the event of death depends on how the state law alters the federal law. Below is an estimated state by state breakdown of the new maximum compensation limits in the event an insured causes a negligent fatality. The source is ABA Seguros, and the exchange rate used in the conversions of pesos to dollars is 12.69 MXP:1 USD.

In looking at the state by state breakdown, it is easy to see why we urge with our friends and customers to purchase at least $300,000 in liability coverage, and to seriously consider the $500,000 limit. For more information about these limits, our conversion, or the calculation please contact us today.

MEXICO LIABILITY LAW CHANGE
ESTIMATED MAXIMUM COMPENSATION AMOUNT FOR DECEASED BY STATE
AS OF DECEMBER 2012
--------------State Previous Maximum----------------------New Maximum
---------------------Limit in USD---------------------------Limit in USD
------------------(1 USD: 12.69 MXP)--------------------(1 USD: 12.69 MXP)
Aguas Caliente--------------------To be determined by Judge

Baja California--------$17,927.82----------------------------$122,793.54

Chiapas---------------------------To be determined by Judge

Chihuahua------------$21,483.51-----------------------------$147,147.36

Colima----------------$3,398.61------------------------------$23,278.17

Durango---------------$3,398.61------------------------------$23,278.17

Estado de México------$3,585.57------------------------------N/A

Guerrero---------------$14,342.29-----------------------------$98,234.83

Hidalgo-----------------------------To be determined by Judge

Jalisco-----------------$17,421.63-----------------------------$119,326.24

Morelos----------------$129,147.30----------------------------N/A

Nayarit-----------------$30,497.78-----------------------------$208,888.89

Oaxaca-----------------$11,033.85-----------------------------$69,834.52

Puebla------------------$5,586.76------------------------------N/A

Quintana Roo------------$3,398.61-----------------------------$23,278.17

San Luis Potosí----------$13,594.45----------------------------$93,112.69

Sinaloa------------------$13,594.45----------------------------$93,112.69

Sonora------------------------------To be determined by Judge

Tabasco-----------------$6,797.23-----------------------------N/A

Tamaulipas---------------$14,735.22---------------------------N/A

Tlaxcala------------------$5,121.20----------------------------N/A

Veracruz---------------------------To be determined by Judge

Zacatecas----------------$3,398.61----------------------------$23,278.17

These States went from $40,663.70 to $278,518: Campeche, Coahuila, Guanajuato, Michoacan, Queretero, Yucatan.

These states went from $42,967.03 to $ 294,294: Baja California Sur and DF.

John, I posted under another thread, that some insurance companies in Mexico are charging based on states driven in......If you revisit my thread/post, you will find, that MAYPHRE, has covered me in Mexico, 300k liability, and not played coverage/liability games!

Why muddy the water? JUST ASKIN? All to save 38 pesos

Jim W wrote:John, I posted under another thread, that some insurance companies in Mexico are charging based on states driven in......If you revisit my thread/post, you will find, that MAYPHRE, has covered me in Mexico, 300k liability, and not played coverage/liability games!

Why muddy the water? JUST ASKIN? All to save 38 pesos

Don't know what you mean. I'm getting insurance quotes from Parker. They want to go with 150 K liability. I asked them for a quote with 300 K liability. Already got a quote from Jesus Tejada with 300 K liability.

Don't know what you mean save 38 pesos. I would rather pay for more coverage and be fully covered. I'm not one of the cheapos who live in Ajijic, you should know that.

If you have been insured with MAPFRE for 300 K for the past few years, you were overinsured. Correct spelling MAPFRE.

John Your mental state is starting to concern me.....Please search our board thread.......you stated last week you were leaving Parker, and the rates I posted....were better than theirs, furthermore I have been paying for what I consider to be proper coverage. I am paying $301.00 annual coverage for a F150 Supercrew, V8, loaded, sunroof, BUM warmer...(you might like...LMAO)leather. 30k liability....plus all the normal comprehensive coverage!

So WTF....who cares about your research......check out Nevada Bob, Nogales

Jim W wrote:John Your mental state is starting to concern me.....Please search our board thread.......you stated last week you were leaving Parker, and the rates I posted....were better than theirs, furthermore I have been paying for what I consider to be proper coverage. I am paying $301.00 annual coverage for a F150 Supercrew, V8, loaded, sunroof, BUM warmer...(you might like...LMAO)leather. 30k liability....plus all the normal comprehensive coverage!

So WTF....who cares about your research......check out Nevada Bob, Nogales

I'll keep ya'll informed with rates and coverages. I think a lot of these insurance companies and agents want to take advantage of the Gringos with the new higher liabilty coverage.

I am a numbers guy and it doesn't compute, the Jalisco traffic regulations specify insurance in the amount of 6,000 days wage which if it is the old is roughly 60 pesos a day and if new 65 pesos a day so would be either $360,000 or $390,000 pesos which isn't anything like USD $17,421.63 or $119,326.24 listed.

[quote="joec"]OMG!!! That's SO MUCH less than I'm paying with Parker Insurance for a company based in England. So much for Parker and we all know how much you liked them on the ALLIANZ deal.

Jim - Thanks for posting.[/quote

As I said John/Joec, I am concerned about your mental state.......LOL


BTW John/Joec, you made the above post on Feb. 7th

[quote="Jim W"]

joec wrote:OMG!!! That's SO MUCH less than I'm paying with Parker Insurance for a company based in England. So much for Parker and we all know how much you liked them on the ALLIANZ deal.

Jim - Thanks for posting.[/quote

As I said John/Joec, I am concerned about your mental state.......LOL


BTW John/Joec, you made the above post on Feb. 7th

Jim - This is what I was thinking when I made that post to clarify. You are paying $ 300. for a $ 10,000 value Ford truck.

I'm paying $ 250. for a 1998 Explorer Eddie Bauer worth $ 5,000.

That's why it seemed like you were paying less on comparative values.