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Old 02-02-2013, 05:21 PM   #12751
Bato
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Drop off wallet
chastity belt...
starting to look like astronauts
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Old 02-02-2013, 06:09 PM   #12752
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My sympathy to the victms and their families

And Pemex ground zero is starting to look like a "duck"
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Old 02-02-2013, 10:14 PM   #12753
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Important!

The federal government here made a change last week regarding the amount paid out to families of victims of motor vehicle accidents. They increased the amount. Make sure you have sufficient liability coverage to make sure you are fully protected in case someone is killed in an accident and you are deemed responsible.

Under the old liability law, you would be on the hook for about 750 days of the minimum salary (that is how fines are calculated here based on dias multiplied by salario minimo) it has now been increased to 5,000 days of the salario minimo.

Make damn sure your insurance reflects this change and that you have sufficient coverage and don't expect existing policies to cover you.



The math gets fuzzy based on maximum payouts that could be awarded. If you are responsible for an accident that kills 4 people and each earns far more than the minimum salary, that is how they calculate the top end of what you should carry for complete coverage.

MikeMike screwed with this post 02-02-2013 at 10:41 PM
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Old 02-02-2013, 10:26 PM   #12754
slowoldguy
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$300,000 per person. Hmmm. Kinda makes those $50,000 liability policies through Mexadventure or Sanborn's kinda useless. I don't remember any limits higher than $300k available.
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Old 02-02-2013, 10:39 PM   #12755
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Remember, the law has set up to 4 times the minimum salary as the high end limit. That means if the victim was earning far more than the minimum salary, you are on the hook to pay up to 4 times the minimum salary multiplied by the number of days at 5,000.

I think that Sanborns and a few others will be updating the policies or have already done so.
Call and ask if you are not sure.
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Old 02-02-2013, 10:50 PM   #12756
slowoldguy
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Simply put (for those of us who can't read or do third grade math and are headed south next week) anybody know wtf we buy for "complete coverage" and from whom? I looked at both Sanborn's and Mexadventure. I don't see diddly in the online sites about these new limits or changes.

And yeah. For those who bought the yearly policies, better check.
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slowoldguy screwed with this post 02-03-2013 at 03:54 AM
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Old 02-02-2013, 11:05 PM   #12757
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Send them an email, they should have let anyone who carries their policies know about the change.
Nobody should be carrying less than $1,500,000 pesos in liability coverage as that will cover you for the maximum that can now be awarded for an accident where you are responsible for the death of one person who earns at least 4 times the daily minimum wage plus additional expenses the court adds in.

The insane thing is that so many Mexican drivers don't carry insurance to begin with. Including a lot of Mexican motorcyclists. Go to a Harley rally or Mazatlan's bike week and take a little poll for yourself. A lot of riders have zero coverage along with unpaid registrations.

The change means the insurance companies will make a load of profits from those carrying insurance who buy the updated coverage (like me), most guilty parties will try to make a run for it and just take off from the accident scene (like most truck and bus accidents), and those who are caught will pay a few hundred thousand pesos in bribes to the Ministerio Publico investigators in order to be absolved of wrong doing.

Call me cynical if you want.
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Old 02-03-2013, 03:46 AM   #12758
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Well $300,000 dollars (3.78 million pesos) looks to be "safe enough" if I am doing my math right. But only if it is greater than 1.5 million pesos per person .

$500,000 in aggregate would be better, but it is the "per person" that needs to get up there. 1.5 million pesos ($118K US dollars) will blow through the $100K pp limits on the $300K policy sold online even before considering the PD.

I will be calling around. This is a manageable risk. Insure around it.

Edit: The online quote and buy page for mexadventure only has $300K per accident $100K per person coverage which does not cover the high wage earner scenario mikemike mentions. Additionally, it appears these policies are "combined limits" which apparently means that PD comes out of the same liability pot.

I have sent an email asking for a phone consult and will report.

For those interested, here's a link to another forum discussing the same thing.

http://www.rv.net/forum/index.cfm/fu...print/true.cfm
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Old 02-03-2013, 07:00 AM   #12759
gwhis778
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Month in mexico.

I'ev been followiing this thread for quite sometime (many others too) and it has been feeding my lust for mexico. With that being said i plan on hitting the road south from wichita,ks on or around feb 10th. I am putting the feelers out for ideas and with the hopes of meeting some people from the advrider site. to show me their own little slice of the land.
i have a month or so and have no set agenda other than relax and explore. Show me what you got.

thanks
Greg
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Old 02-03-2013, 07:17 AM   #12760
MikeMike
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Greg, try contacting Nailit2em from this forum.
Let me know if you need a pdf file ride guide for down here where I live, if you want a free copy, just send me a PM with your email.
You are going to enjoy Mexico!
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Old 02-03-2013, 09:00 AM   #12761
slowoldguy
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Haven't nearly finished my "due diligence" but Lewis and Lewis has an option for purchasing $500,000 "excess" liability coverage for $1.10 a day on a short-term policy and it appears their base policy is "combined single limit" (a phrase that I am admittedly not familiar with but that "suggests" to me $300K per person /$300K per accident but I will verify).

Right now, from the on-line sources, that appears to be the best coverage I can find. Full coverage including UIM on a bike less than $10K in value for 8 days coverage with $500K excess will be @ $108. In-line with Premium coverage at mexadventure with much lower limits and coverage ($111 with 100/300 and no UIM and $8K declared value).

Any Lewis and Lewis stories?
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Old 02-03-2013, 09:37 AM   #12762
gwhis778
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Name on paperwork

On my documents the name is all the same except for my passport which has my middle name spelled out. Will this really be a problem. Help
greg
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Old 02-03-2013, 10:06 AM   #12763
tricepilot
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You'll be fine, unless your name is Harry Balls
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Old 02-03-2013, 10:26 AM   #12764
gwhis778
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What about schwetty balls?
thanks
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Old 02-03-2013, 10:28 AM   #12765
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