The all risk insurance is a protection package that covers the most serious accidents such as Total Theft of the insured unit or property damage caused by fire, acts of vandalism; even falling objects. So drivers no longer have to worry about spending on repairs or sending their car to an unknown workshop.
According to the Mexican Association of Insurance Institutions (AMIS), less than the Mexican vehicle fleet is insured, despite the fact that in recent years, in different entities of the Mexican Republic, mandatory insurance has been established and that a high accident rate is experienced. vials.
Both the institutions in charge of road safety and the organizations that work with financial services to respond to road accidents agree that although government authorities are responsible for acting in favor of vehicle improvement, drivers must also participate.
One way to do it is by purchasing car insurance, but not only in order to meet a requirement but also as a way to plan viable responses in the event of an accident; which contemplate economic and human resources.
The National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) explains that insurance must function as investments; so the people who insure their vehicles are supported. As part of contracting, it is necessary for users to identify their needs and the offer of the insurance sector.
What does the All Risk Insurance Cover?
When talking about all-risk insurance, it is important to make clear what its scope is, although it does provide a high level of protection, it also has limitations; which can be covered with other coverages.
The risks that can be covered are:
- Stole.
- Vandalism.
- Fire.
- Shock
- capsize
- Rain
- floods
- Fires
- explosions
- Attempted robbery or assault
- personal attacks
- earthquakes
- hurricanes
- tornadoes
- tire damage
- crystal damage
- Falling objects.
- Damage that an animal causes to your car.
- A civil disorder (such as a riot that damages or destroys your car).
What does the All Risk Insurance not Cover?
This is not exclusive to this insurance, we know that all coverages have their exceptions, in the case of All Risk Insurance the exclusions are:
- Failures or damage of mechanical origin
- Damage caused intentionally
- Damages due to normal deterioration or passage of time
- Driving under the influence of alcohol or any other drug
What Coverage is Considered in this Type of Insurance?
The risks that all-risk insurance can cover have been mentioned before, but in this section the types of coverage that are included in this protection package are shared.
- Civil and voluntary liability. It covers property damage and injuries generated to third parties. In the case of the so-called "voluntary liability" the insurance acts as a complement, it is usually used when there are compensations that are higher than those established.
- Material damage. The previous coverage only covers damage caused to other vehicles, in this case those that the insured unit can register are covered.
- Legal defense. It is a coverage that allows the driver to have professional advice on legal issues so that he is able to face the processes and procedures in said area; which are consequences of an accident.
- Driver insurance. Covers the driver for death or disability due to a traffic accident.
- Theft or total loss. Gives attention to situations of theft or declaration of total loss of the insured unit.
- Travel assistance. It contemplates a set of services and attentions to solve the breakdowns that the insured car presents.
Where to Look for All Risk Insurance in Mexico?
Insurance companies work to create the right coverages or protection packages to meet the needs of their customers. Proof of their effort is the all-risk insurance, since it is presented as an option with a broad level of protection and with the possibility of adapting to the particularities of the people who hire them.
To select an insurer, it is advisable to take into account those that are registered with the National Insurance and Bonds Commission ( CNSF ). Here is a list where it is possible to look for an insurance that can provide help, even in the most serious claims.
- GNP insurer.
- Insurer Affirm.
- ANA insurer.
- Zurich Insurer.
- AXA Insurer.
- The Eagle Insurer.
- Mapfre insurer.
- Qualitas insurer.
- Inbursa insurer.
- Banorte Insurer.
- Sura Insurer .
- La Latino Insurer.
- AIG Insurer
- Insurer El Potosí.
- ABA Insurer.
Who Needs All Risk Insurance?
To talk about the viability of a certain type of protection in a person's life, it is necessary to consider all the factors that interfere, such as needs and characteristics. In the case of all-risk insurance, it can be said that it is suitable for all types of drivers because everyone, by the simple fact of traveling on the road, is vulnerable to suffering an accident.
As part of the environment of the insurance sector, it is identified that companies that are dedicated to car rental should consider taking out insurance policies in a position to support drivers in the face of the greatest number of emergency scenarios on road trips, since they are responsible to ensure security for their customers.
However, it is also seen how important it is for motorists who drive their own car to consider all-risk insurance among their priorities because they are likely to be involved in a complicated situation where their assets are affected to the point of losing them.
So, it can be said that insurance that covers all types of risks is viable for all drivers, since until now it is not possible to affirm that a person is immune to any accident or that they can only suffer certain emergencies. Ideally, motorists should have resources at different levels.
How much does an Insurance with All Risk Coverage cost?
The price of all-risk insurance is determined based on the characteristics of the driver or the contracting party and the features of the vehicle. For this reason, when applying for an insurance policy, the insurance company requests personal data. So as such it is not possible to provide an exact figure, it is advisable to make a quote.