Mexico is famous for its waterways with boats playing a crucial role in transportation, fishing and leisure. But this country also has stringent rules and regulations which need to be followed; both for owning a boat there as well as bringing a boat to this country. One such very important rule makes it mandatory for boat owners to have Mexican boat insurance for their boats, yachts etc.
Need for a boat insurance in Mexico
Mexico with its sunny weather, picture perfect sunsets and optimum water temperature, is an ideal destination for holidays and vacations. Bringing a boat along adds an extra edge to the vacation. But there are certain constraints that must be adhered to, some of which are
All boats entering, docking or navigating in Mexican waters are required to have a third party Mexican boat insurance
No US registered boat insurance is not valid here as Mexico recognizes boat insurance issued by insurance companies only registered here
How to get boat insurance in Mexico
The best way to get Mexican boat insurance is to shop online right from the comfort of your homes. Insurance policies offered by different insurance companies can be reviewed and compared and the best policy can be selected on the basis of your budget and requirement.
Different types of coverage available
Generally there are three different types of Mexican boat insurance coverage provided by the insurance companies in Mexico. They are:
a) Full coverage insurance for trailer able boats: This type of insurance offers full coverage to boats that are designed to be towed behind an insured vehicle and can again be of three types:
Insurance providing complete coverage to the hull and machinery of a boat covers all types of physical damage incurred by the boat, medical expenses that are needed by the passengers as well as indemnity or protection from damages caused to third parties in the accident. This policy generally covers trailers when they are in the water, in storage and also when they are being towed or carried on land.
Mexican boat insurance policy for boats in the water provides coverage for damages caused to third parties in cases of accidents happening in the waters. This is the only policy which prevents boats from being confiscated by police in the case of an accident. The absence of this policy can also lead to the police taking the owner of the boat in police custody
Insurance policy giving full coverage to the trailers when they are being towed on land ensures that theft, physical damages or any other liability incurred by the boat when on the road, is taken care off. This policy is only valid if the trailer is registered as a towed unit in the Mexican auto insurance policy taken out for the towing vehicle.
b) Liability Mexican boat insurance for boats on the water covers all damages caused to third parties in case of an accident occurring in the waters. This is again a very important policy to have, the absence of which can result in your boat getting confiscated and can also land you in jail.
c) Hull coverage insurance for boats while in the water and on land offers full coverage for any physical damage occurring to the hull of a boat either in water or on land.
Mexican boat insurance offers coverage to boats of different types like trailers, powerboats, sailboats, yachts and other personal watercraft like Jet Skis, Sea-Doos, Wave runners, etc, Cavorting with your own boat, sport fishing, jet-skiing etc. In the waters of Mexico can only be fun provided all safety precautions are taken to prevent any damage from happening to life and property. One of the best ways to take care in case these eventualities do happen is to get a Mexican boat insurance issued by a Mexican registered insurance provider so that you are able to enjoy your vacation with a peaceful mind and have lots of fun in the process.
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