What is Auto Insurance?

What is Auto Insurance?

Auto insurance is a protection that is acquired with an insurance company to guarantee economic coverage of the damages and injuries to which one is exposed while driving or owning a vehicle.

The damages with the greatest impact are generally those caused to third parties, either to their property or people, which can cause legal obligations and even penalties that can land the driver responsible for the accident or the owner of the vehicle in jail. 

The insurance coverage that protects this is called liability and is mandatory throughout the country for those traveling on federal roads and bridges and in various states.

However, the penetration of auto insurance by the end of 2018 was only around 30%, which represents that these policies are the second best-selling in Mexico, afterlife. Some of the advantages of ensuring the car are:

Economic protection for the owner and/or driver of the car in the event of their liability in an accident that causes injury to people or damage to their property.

Decrease in loss due to damage to your own vehicle.

Legal defense in case of lawsuits as a result of a car accident, including payment of bonds and other fines.

It is responsible for compliance with the laws regarding compensation for injuries or death of third parties.

It significantly reduces financial losses due to partial or total theft of your car.

Avoid fines for non-compliance with the Laws of the Traffic Regulations.

It covers the medical and funeral expenses of the occupants of the car itself.

Indemnify the beneficiaries of the driver in the event of his death.

For more information about these car insurance policies, you can read the detailed article about The best car insurance 2022 and How car insurance works. We also offer you the opportunity to obtain the plans you need by entering the Auto Insurance Quote.