New auto insurance requirements in Mexico

From January 1, 2019, all cars traveling on federal roads and bridges are required to have civil liability insurance, which is known as damages to third parties, otherwise, they will be subject to fines ranging from 2,000 to 4,100 pesos.

The provision arose from the reform of the Law of Roads, Bridges and Federal Motor Carrier, approved in April 2013, which establishes that all owners of motor vehicles must have civil liability insurance to cover the damages caused to third parties property or persons.

The obligation came into force on September 23, 2014, and initially the contracting of liability insurance would be a commitment of the owner of the car and verification of compliance would be by the Ministry of Public Security (SSPF), through the Federal Police.

At its start, the measure was applied for 2011 and later models, with a billing value of more than $186 thousand pesos; and as of January 2015, it was the vehicles from 2008 onwards; for 2016, the obligation was applied for 2005 and subsequent models; in 2017, from 2000 models and 2019 all cars must have this coverage.

The measure aims to protect victims of traffic accidents, which are the second cause of death in Mexico for the population between 5 and 34 years old, according to figures from the Mexican Association of Insurance Institutions (AMIS).

On average, every day there are a thousand road accidents that leave 44 dead and 369 injured; thus, at the national level, 15,886 fatalities and 134,815 injured are reported annually.

According to Quálitas, the legislation establishes that compulsory insurance for driving on federal highways must have a minimum insured amount of $100,000 pesos for people and $50,000 for the property.

In the market, this type of insurance starts at $700 pesos a year.

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