Car insurance: How many types are there?

The emotion of having our own car is indescribable, we want to show it off and take it everywhere, to work, to the supermarket and sometimes even to the tortillas, although it is not always the most appropriate, but we forget the most important thing, great power always carries a great responsibility.

We say this because usually, we do not take into account that when buying or having a car, we must insure it for our protection and that of our environment, because in every kilometer that we advance we run the risk of having a mishap; In addition, having an insurance policy is mandatory and not being insured can cost you a fine that ranges from $1,500.00 to $6,000.00.

For this reason and although you did not ask for it, we explain in detail everything you need to know about car insurance that currently exists for the moment you have to choose one.

1. Civil Liability

Take into account that this insurance is the most basic and only covers damages caused to third parties during an accident, that is, it will not cover the losses caused to your car, nor the physical damages that you suffer or your companions suffer, no matter what. You are a responsible driver and you did not cause the accident.

2. Limited coverage

According to data from the National Commission for the Protection and Defense of Users and Financial Services (Condusef), limited coverage insurance is the most common in Mexico, as it offers all the coverage of civil liability insurance.

In addition, it offers us to cover the medical expenses of the insured and their companions at the time of the accident, as well as ambulance services, hospitalization and expenses for funeral services in the event of death.

This insurance also covers car theft and depending on the case, it can replace the unit or grant a high percentage corresponding to the commercial value of the car that will depend on the agency with which you have the insurance.

3. Broad Coverage

One of the most complete car insurances for your car in the event of an accident fully covers physical or material damage to the vehicles involved in the accident, as well as their companions.

In addition to total theft and roadside assistance, this insurance has coverage for damages by third parties without insurance, substitute car and even an extension of civil liability; this means that, even if you drive a different car than the one registered in your policy, you still have the benefits contracted in your insurance.

4. Coverage Plus

To provide greater protection to users, some car insurers offer coverage with high-level extensions, among which we can find:

Legal assistance extension

This provides greater legal protection in the event of a process against you and in most cases, you have the support of private and specialized lawyers. That is, you will not have to worry about anything in this regard.

Extended support services

This coverage must include a towing service for moving your car, medical assistance, lodging expenses and a spare car while the damaged one is being repaired. Sounds good, right?

Loss of the car due to material damage

In case of an accident and the insurer estimates that the repairs of the car exceed 75% of the commercial value, a total loss is declared. With an extension of this type, the insurer must pay between 80% and 100% of the value of the car.

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