Mexico Home Insurance vs. US Home Insurance: What’s the BIG Difference?

 If you are an American living in Mexico and want to buy a house there, you must know how Mexico home insurance is different from home insurance in the US. Both provide some fundamental protections to your home, but they have some big differences as well.

Knowing these differences can help you choose the best insurance for your new home and make sure it is well-protected. Keep reading to find out what those differences are and why they are important.

Coverage for natural disasters and liability

There are fewer differences than you may think. Catastrophic coverage like Hurricane & Earthquake coverage is optional and can be included in your policy upon request. If you want to include additional coverage for Hurricane & Earthquake damage, you will need to add this additional coverage for a premium on your policy.

Liability coverage is also where US and Mexico home insurance policies do not differ. Liability protection comes as standard in most US policies and covers you if someone is injured on your property and this is the same on Mexico home & condo insurance policies. Always review the exclusions on your policy to fully understand what is included & not included with respect to coverage that is most important to you.

Premium calculation

Insurance premiums are also calculated differently in both countries. In the US, premiums are largely based on the home’s age, location, and the policyholder’s credit score. In Mexico, factors like the home’s replacement cost, coverage selections & the distance your property is from any body of water, play a factor.

Get your Mexico home insurance quote today!

If you are an expat looking to insure your home in Mexico and want a policy that gives you the best protection, West Coast Global Insurance Services can help you find such a policy. They are a US-based agency working with some of the top-rated Mexican insurance companies, and they can help you compare different policies to find one that perfectly matches your needs and budget. Click this link for a free quote or visit www.westcoastri.com to learn more about Mexico insurance online.     

 

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