Mexican Boat Liability Insurance Frequently Asked Questions

by West Coast Global Insurance West Coast Global Insurance

Let's face it: Mexican boat liability insurance isn't as widely talked about as Mexican car insurance. That is why we are here to answer any questions you may have about buying Mexican boat liability insurance.

Q1. Do I need to buy Mexican boat liability insurance?

Yes. Liability insurance is legally required for any watercraft cruising or sailing in the Mexican waters. Liability coverage protects you from any lawsuits and out-of-pocket expenses if your boat causes damage to other watercraft, docks, marinas, or people. And, because your U.S. insurance will not be valid in Mexico, you must have Mexican boat liability insurance underwritten by Mexican insurance providers.

Q2. What is covered by Mexican boat liability insurance?

Mexican boat liability insurance is similar to Mexican car insurance in many ways. There are two types of policies available: Liability-Only and Hull & Liability Coverage or Full Coverage. Mexican liability insurance covers the losses and costs of third-party injuries in the event of a boating accident in which you are at fault, as well as any legal fees involved. As the name suggests, a full-coverage insurance policy offers complete coverage against theft, vandalism, fire, and even catastrophic events like intense tropical storms and hurricanes.

Q3. Is it okay for anyone to drive my insured boat?

Most Mexican insurance providers require that the driver be listed on the insurance policy and carry a valid captains license for navigating vessels. If you do not comply with these requirements, you may be unable to enjoy the benefits of your insurance policy, due to the simple fact that anyone navigating your vessel in Mexico is required by underwriting to be approved. Failure to receive proper underwriting approval will likely void your policy benefits depending what the claim is that was submitted for loss.

Q4. How much does Mexican boat liability insurance cost?

Mexican boat liability insurance is not very expensive and should not be overlooked based on several factors. These factors include, the term (how many days the coverage is required to be placed in force), the speed of the vessel, and other factors such as the age, size and type of your boat (whether it is a jet ski, yacht, sailboat, or powerboat).

If you would like to learn more about Mexican boat liability insurance, consult with a reputable insurance agency like West Coast Global Insurance Services. Get a quote & apply today. Click here to start a secure quote online.