Boat Liability Insurance for Mexico 2021

 Liability coverage for all types of insurance in Mexico has become significantly more crucial due to recent changes in Mexican law. Plan to explore the waters of our neighbour to the south this year with your boat or watercraft? You must buy Mexican boat liability insurance — it is often necessary at marinas in Mexico before you can moor or launch a boat.

What Does a Mexican Boat Liability Insurance Cover?

Your liability exposure in Mexican territorial waters is not covered by the boat insurance policy you purchased in the U.S. or Canada. If you plan to navigate your boat in Mexican waterways, ports, or marinas, you must carry boat liability insurance underwritten by a Mexican insurance company.

Mexican boat liability insurance covers civil liability for third-party property damage and/or physical injury — i.e., damage to other vessels, docks, or marinas as well as injuries to other people caused by your boat. A comprehensive Boat Insurance policy will also cover your boat or yacht in the event of hurricanes and violent tropical storms in Mexico (Be sure to confirm the coverage is included if you are navigating your boat or yacht in Mexican waters during hurricane season). Furthermore, adding a good “emergency assistance plan” will cover all the costs of boat towing services and on-water assistance if your boat breaks down while on the water.

Always go over the list of inclusions and exclusions to get a clear picture of what your Mexican boat insurance covers.

Why Do I Need Mexican Boat Liability Insurance?

Any watercraft navigating in Mexican waterways must carry Mexican boat liability insurance to cover potential third-party damages or injuries. This is because Mexican law requires you to produce proof of financial responsibility if you are involved in a boating accident in Mexico, just as you must if you are involved in a car accident.

Keep in mind that any commercial watercraft or watercraft for hire — whether for public transportation of sea freight/persons or wholesale/retail delivery — are all excluded from boat insurance coverage. Boats cannot be insured if they are racing or competing in any way, including support vehicles for drag boat racing.

If you are looking for the best Mexican insurance for your needs, reach out to West Coast Global Insurance Services today. Please fill out their Online Mexico Watercraft Application to get a quote for the best Mexico boat insurance policy for your needs.

 

 

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