Having a car certainly offers certain amenities, but also, some responsibilities. As a driver, it is necessary to be aware of the services that our car requires, besides the payment of the endorsement and tenancy, for example. But also, when we put our hands on the steering wheel, we are taking care of what our car can cause: damage to third parties.
When purchasing a car, you need to consider that the hiring of insurance should be immediate. In this way, you protect what you have just acquired in case someone else damages it or you are the one who caused the damage. Being cautious is not enough to get rid of the latent dangers.
The most common coverages of auto insurance are:
- Civil liability: In the event of an accident you are protected by the damages that you may have caused to third parties in your person or in your property. At least you must hire this coverage.
- Legal Assistance: lawyer, payment of bonds, among others.
- Material Damage: Covers the cost of partial or total damages that your car could suffer.
- Medical expenses: for you and those who go in your car.
- Total theft of the car: The company will pay you the amount you agreed.
Let’s go safely
There is a need to provide road safety for drivers and pedestrians so, with the entry into force of the Traffic Regulations. Motorized vehicles must have a current civil liability insurance policy that protects at least civil liability for damages to third parties in their person and in their assets.
In the case of units providing public transport services for passengers or cargo, it must have a current civil liability insurance policy, which protects civil liability for damages and damages caused by the provision of the service could lead to the users or third parties in their person or property, depending on the mode of transport to which it corresponds and according to what is established in the regulations of the Law. Notwithstanding the sanctions established in this regulation will be sanctioned per the stipulated In the Law and its regulations.
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In the case of not carrying the current policy, the owner of the vehicle will be sanctioned per the following table:
The owner of the private vehicle will have 45 calendar days for the cancellation of the fine when presenting a public liability insurance policy for damages to third parties in terms of the Law, within the stipulated term. Per the fifth Transitory article of the Regulations, all drivers must have such insurance.
As you could see, all vehicles that transit through Mexico City must have civil liability insurance. If you already have some other car insurance, you are already complying with this obligation, so you do not have the need to purchase this new insurance.
But if your vehicle is not insured, you can purchase the Obligatory Vehicle Liability Insurance, which was specially developed to comply with the ordinance. Check the costs directly with the insurers that offer this product and keep the policy in your vehicle.
Automotive Credit Multicorporate
In order that before hiring, you can compare several options available in the market and choose the one that suits you. The Conduce has the Multicorporate Automotive Credit tools.
You can compare the option that gives you a financial institution or even a self-financing company, verify how expensive or cheap it is and decide if you hire or it is better to look for another alternative.
You are going to hire a car credit
Verify total payment, Total Annual Cost (CAT), interest rate, commissions, and insurance cost. Choose a fixed rate credit, this way you will be certain of a number of payments during the life of the credit. Verify the value of auto insurance with various insurers, as well as the cost of financing it with different credit institutions. Do not forget to check your budget before hiring a credit, as this will allow you to identify if you can afford it.