Mexican car insurance cost is determined by a range of factors that auto insurers take into consideration. These include:
- Length of stay
- Part of country traveling to
- Year, make and model of vehicle
- If hauling any items such as a trailer
- Driver information and driving record
- Desired coverage
This is similar to the criteria used by companies when obtaining policies in the United States, except the length of stay can be used to customize the term of the policy. Usually, the longer a person will be south of the border, the higher the premium will be; however, annual policies may be purchased for a discount.
The destination is factored in for reasons such as congestion and crime rate which may increase the potential of a loss. Vehicle information may impact the rate just as it would in the States; there are certain models which are stolen more often than others and have a higher risk of theft. The type of coverage desired may also affect the rate since it will have more benefits to the policyholder in case of a loss.