Hurricane Coverage - Reasons to Not Self Insure   

 If you are considering relocating to Mexico, the most common question about living in the country deals with the risk of hurricanes and natural disasters. Many people self-insure their homes in Mexico when considering this possibility, but this practice may not be as safe as it seems.

Self-insuring your Home or Condo in Mexico against hurricane damage is risky. Here are a few reasons why:

  • If your home is damaged or destroyed and it is not insured, you will be responsible for rebuilding it completely on your own. The cost of Mexico Home Insurance is a cost that you build into your annual home expenses. Your goal is to mitigate risk and transfer the financial responsibility to the insurance carrier. Insurance companies also have access to specialized resources, such as claims adjusters and contractors, that can help make the repair process go more smoothly.
  • Self-insuring leaves you vulnerable to lawsuits if someone is injured on your property.
  • Insurance provides coverage for more than just weather events — it also covers fire, theft, and glass breakage, to name a few additional coverage.

So essentially, by self-insuring your property in Mexico against hurricane damage, you are increasing the risk of losing money in the event of a hurricane because now you have no backup plan! Take the time to consider the reasons we discussed in this blog before deciding on self-insuring as your plan against hurricane damage.

Get Your Mexican Home Insurance Quote Today

A hurricane is one of nature’s most powerful natural disasters. Winds as high as 220 miles per hour and flooding from rain can quickly cause thousands to hundreds of thousands of dollars in damage to your home, especially if it is the center of impact of a hurricane or strong tropical storm.  At West Coast Global Insurance Services, we can help you find the best Mexican Home and Condo Insurance policy to include hurricane coverage to meet your insurance needs and budget. Visit their website to learn more and to receive an estimate today!

Comments

Post a Comment

Popular posts from this blog

Driving in Mexico: Do You Really Need Full Coverage?

If you want to drive in Mexico, you should know that liability insurance is legally required for all drivers. It covers property damage or injuries you might accidentally cause to a third party while you are on the road. But liability insurance alone does not protect your own car from damage or theft, nor does it cover your passenger injuries. This is where full coverage Mexico auto insurance can be very important. It gives you extra protection by covering more than just the legal minimums. What does full coverage usually include? When you choose a full coverage policy from an agency like West Coast Global Insurance Services, here’s what you will probably get with your insurance:  ● Property damage and total theft coverage will cover the costs to repair your car after a crash or replace it if it is stolen. ● Medical expenses for occupants will cover doctor bills or hospital costs if you or your passengers get injured in an accident. ● Third-party liability has higher coverag...
Read more

How to Choose the Right Mexico Auto Insurance Provider?

 If you are planning to cross into Mexico by car, you must get the right Mexico auto insurance . Your U.S. auto insurance does not satisfy Mexican insurance law requirements. Even if your U.S. policy claims to include “international” coverage, it still will not be accepted as valid liability insurance in Mexico. The only way to drive legally in Mexico is to carry liability insurance from a company licensed in Mexico. Without it, you could face serious legal and financial problems if you get in an accident. [U.S. auto insurance policies do not meet Mexican legal requirements. Even if your policy mentions international coverage, it is not accepted as valid liability insurance in Mexico. To drive legally, you must carry liability coverage issued by an insurance company licensed in Mexico.] Once you know you need Mexican insurance, step 2 is deciding what level of coverage is best for your travel plans. Some travelers feel comfortable with basic liability insurance. This covers the ...
Read more

A Simple Guide to Insuring Your Yacht or Sailboat in Mexico: Step – by - Step

If you are taking your yacht or sailboat to Mexico, you need to have proper Mexico boat liability insurance . But how do you buy the right policy? Continue reading to learn everything more about what coverage you need in Mexico. West Coast Global Insurance Services provides an online quote and apply rater page to make securing coverage easy. The online form is quick and easy to complete. West Coast Global Insurance Services makes the entire process of buying Mexico insurance online easy and straightforward. Visit their online boat and yacht insurance application page and fill in basic details about your boat, like the hull material, country of registration, value, and engine type. You’ll also need to decide how you plan to use your yacht or sailboat. Will it be for personal cruising, or do you plan to charter it out for guests? From there, you’ll choose your navigation zones — the areas in Mexico where you’ll be sailing. If you’ll be spending time south of 30.5 degrees North during h...
Read more