10 tricks to find the cheapest car insurance
Many people don’t insure their car because they can’t find cheap auto insurance .
However they ignore that, by not insuring their vehicle, they can incur much larger expenses.
In addition, according to the laws in Mexico, car insurance is already mandatory to drive on federal roads.
That is why we want to provide you with 10 tricks to find the cheapest car insurance in Mexico.
HOW TO GET CHEAP CAR INSURANCE
Finding cheap auto insurance isn’t that easy, but it’s definitely not complicated.
You just have to follow a series of tips and advice, and, above all, be very disciplined.
In this way, you will be able to find cheap auto insurance, with high standards of quality and service.
1. Pay attention to the calendar
One of the first things is to check when your current policy expires (if you already have it).
This is important because keeping it in mind will give you a certain advantage when negotiating with your current insurer (we will see it later).
For example, if you had an automatic renewal and you overdid it, it would be best to wait another year and avoid penalties.
However, if you don’t have any insurance and this is your first time, you don’t need to check the calendar.
2. Try to cancel the insurance
Even if you don’t want to change insurance, you could still try to cancel your insurance.
Usually, insurers will not want to see you go and will offer you different benefits.
One of them, obviously, is usually to lower the cost of the policy or offer better coverage at a lower price.
Although it is important to consider that this is also risky. If you have been with your insurer for many years, you could lose benefits, especially if they are benefits that in another insurer would be very complicated or time consuming to obtain again.
However, as we mentioned before, you must consider the calendar to make this attempt in advance, prior to the renewal.
You should know how far in advance you need to give notice that you do not want the renewal.
3. Renew the policy
Another option is to try to renew the policy, but do it in advance.
Once again, you must pay attention to the calendar and start the negotiation process in advance.
You could see if your insurer offers you a good deal, and if not, you will have time to negotiate with another.
To obtain a good discount on the renewal of the policy, several aspects must be taken into account, such as:
- car accident rate
- registered address
- Claims during the previous policy
4. Choose the best coverage for your needs
If you have followed the GUROS blog , this will be a concept you know well: always evaluate your most important needs first.
To find the best price on your auto insurance, the first thing is to calmly think about what coverage you need the most.
In addition to the coverage , selecting the payment methods that are most convenient for you and evaluating getting a level of service that meets your expectations are important. This will help you not only determine the price of auto insurance , but the value that you can give it.
If you assess what your needs are, you can…
5. Know what you are looking for
Once you have well evaluated the needs of your car, you will be able to know what you are looking for.
And by knowing what you’re looking for, you’ll know which insurance features are really valuable for cheap auto insurance.
In the same way, you will identify the features that are really just straw and will not bring any benefit.
6. Compare insurers
One of the main principles when looking for cheap auto insurance, or anything cheap really.
Comparing prices is the basis for users’ freedom to find the best price for any product.
As such, it is one of the fundamental principles promoted by entities in favor of users such as Profeco and Condusef .
We recommend that you compare at least three insurers, and we remind you that at GUROS we work with six of the best insurers in Mexico, to which you can compare on issues such as price, coverage, payment methods and more factors.
In addition, you have at your disposal our guide to insurance companies that offer car insurance in Mexico.
In the guide, you will discover more in-depth information about insurers, such as price, financial details and level of care.
We reiterate, one of the most important things to find a good price, of whatever it is, is to compare.
7. Know what insurance companies offer
Once you have done the task of knowing your needs and comparing the prices of the insurers, you will also be able to get to know their offers in depth and choose the one that most convinces you, suits you and fits your pocket.
A cheap car insurance is not the one that costs the least, but the one that offers the best value for your money.
To determine that, you need to know what is included in the insurance or product you want to hire.
Once again, we invite you to review the different articles that we have on the GUROS blog.
In it, you will be able to know the meaning of different insurance terms and know which ones to look for.
If you have special needs, remember that at GUROS we have advisers who can help you without obligation.
8. Try a high deductible, equal to cheap car insurance
This, at best, is advice that can generate controversy.
Although it is true that acquiring a high deductible can reduce the cost of the policy, in case of an accident you will have to pay a higher amount.
Therefore, you should think very carefully before deciding if this is the right option for you.
If you feel safe, have never had an accident and already have vast experience driving, it could be a good idea.
You’d also want to research the incidence of accidents in your state and take that into account when making this decision.
Although it is true that you will still have protection for your car, you will probably drive with a little more pressure.
9. Divide into installments
Finally, another piece of advice that might seem very obvious, but you should not ignore it.
Check what the insurer’s payment methods are. They are usually annual, semi-annual, quarterly or monthly.
Obviously, if you make the annual payment, you will find the cheapest price, and depending on how many installments you choose, the total cost of your auto insurance policy will go up a little.
Usually, the increase will not be as high and it will be easier for you to cover the insurance premiums.
There are even insurers that offer to divide the cost of the policy into months without interest.
In those cases, it is when you find better value for your insurance, by covering the cost of an annuity in months.
10. Always drive defensively
Finally, the best advice we can give you is to always drive defensively.
The fewer claims a car has, the less tempted insurers will be to increase the cost of the policy.
Therefore, it is very important to always follow traffic regulations and drive defensively.
By minimizing the mishaps you suffer, the greater the chances of getting cheap car insurance.
WHY IS IT NECESSARY TO INSURE YOUR CAR?
In Mexico, the cost of car insurance varies, on average, between $2,500 and $40,000 pesos per year.
These prices vary according to the protection and coverage package for each car, based on factors such as accident rate, address where the insurance was registered and personal data of the policy holder.
Although it may be a high variation, if we take into account that the average crash in Mexico costs the responsible driver $24,000 pesos, it is no longer such a high cost.
And it makes more sense to buy auto insurance if you look at the average cost on the top 10 best-selling vehicles.
In our Insurance Guide, you can review the cost of insurance on the 10 best-selling cars of 2017.
There, you will see that, in general, comprehensive coverage rarely exceeds $15,000 pesos.
Therefore, it is very important to invest in auto insurance, which protects your assets.
IS IT MANDATORY TO TAKE OUT AUTO INSURANCE?
This question is valid, and has an answer that falls into gray areas:
Auto insurance is mandatory in 15 of the 32 entities of the Mexican Republic.
Mexico City, State of Mexico, Baja California, Chihuahua, Sinaloa, Jalisco, Nayarit, Morelos, Querétaro, San Luis Potosí, Nuevo León, Tabasco, Tamaulipas, Veracruz and Yucatán have some law or regulation that establishes the obligation to have a Car insurance.
In all these entities, the law is complied with when contracting a Civil Liability or Basic Coverage policy.
In addition to this, throughout the country, Civil Liability coverage is mandatory to circulate on federal roads.
As we said at the beginning, cheap car insurance is not the same as car insurance at the best price.
At Guros , our goal will always be for you to find the best insurance for your car, at the best price, enter now .