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SOURCE: International Insurance Group, Inc. 1
MexPro.com releases the newly updated increased State by State Liability Limits for Mexico. MexPro, the leading provider of Auto, Homeowners, and Watercraft insurance to Americans and Canadians in Mexico, advises all insurance policyholders to check their Mexico Liability limits to ensure that they have adequate limits to satisfy the new laws.
Flagstaff, AZ (PRWEB) February 07, 2013
The Mexican Government has recently increased substantially the maximum amount that courts can impose for a fatality caused by a negligent driver, homeowner, or watercraft owner in Mexico. The new state limits have generally increased by a factor of 5-7 times the previous limit. “Historically, purchasers of Mexico Insurance have carried limits of $ 50,000 or $ 100,000, which in the past were sufficient to cover most third party liability claims”, states Nate Watson, COO of http://www.mexpro.com parent company International Insurance Group, Inc.. “This new law in Mexico has now put tens of thousands of Americans and Canadians in Mexico at grave risk of currently having inadequate liability limits”, Watson went on to say.
For example, the limit for causing a negligent fatality in Baja California Sur in the past was approximately $ 42,000 USD. That limit has now been increased to $ 286,000 USD. In Jalisco, the limit has increased from roughly $ 17,000 USD to $ 117,000 USD. For a complete list of state limits, visit http://www.mexpro.com. Regardless of the limit which currently appears on MexPro customers declarations pages, MexPro will honor a $ 300,000 liability limit for death liability on all outstanding policies purchased prior to February 4, 2013 until they expire. MexPro advises customers that when purchasing new or renewal policies to use the same level of care as they do when purchasing insurance in the USA or Canada, including purchasing liability limits for Mexico of up to $ 500,000 (or the maximum amount currently available).
MexPro.com is the leading provider of Mexico Auto, RV, Motorcycle, Homeowners, and Watercraft insurance for Americans and Canadians who visit or live in Mexico. For more information, visit http://www.mexpro.com. MexPro also distributes its products via thousands of agents in the USA, Canada, and Mexico via its http://www.mexicoinsuranceonline.com portal for licensed insurance agents.
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