This page contains information from different sources whose main purpose is to help our clients be better informed. This information is subject to change and we suggest that you read the general conditions directly from the links provided by each insurer for the latest information. BestMex.com assumes no responsibility for any errors or omissions in the content of this page. The information contained on this site is provided “as is” without guarantees of completeness, accuracy, usefulness or timeliness, and the general conditions of each insurer must be taken as the official text..
If at the time of quoting, you want the best coverage available for your vehicle which is commonly known as ‘Comprehensive Coverage’ (coverage that includes physical damage and total theft for your vehicle), you will need to enter the current ‘ACV’ value (also known as current market value or commercial value) of your vehicle. If you are unsure of your vehicle’s ACV, we recommend using the vehicle value websites mentioned in the insurers’ general conditions to determine the current value for your vehicle such as:
When using these websites to determine the value of your vehicle, we recommend first reading the insurers’ conditions or using the highest value you find in these guides. It is better to insure your vehicle with excess value than to underinsure it.
If when starting the quote on our website, you select a value greater than zero $0 for the value of the vehicle, our system will add Collision (property damage) and Total Theft coverage for the insured vehicle. This value will be the maximum limit to be paid for said coverage, taking into account that insurers pay the current commercial value, as indicated in the general conditions of the insurer of your choice.
Please take into account that the value that you must put on your vehicle is NOT the balance that you owe to your finance company or the bank with which you have your loan for said vehicle, nor is it the entire balance of the debt that you have with the financial or the bank. Generally the value of your vehicle is what you can expect when you sell it or put it down when you purchase a new vehicle. In the event of a total loss claim in Mexico, insurance companies in Mexico will use what is explained in the general conditions indicated below:
Adequate Value
Terms and Conditions of each insurer in reference to commercial value
MAPFRE Insurance Company
Commercial Value
This corresponds to the high value or “Suggested Retail Value” (the sales value that, according to the Kelly Blue Book publication, is used as a starting point in a negotiation. This value takes into account the dealer’s expenses and specific vehicle conditions may be considered and applied to it) from the Kelly Blue Book Co. publication, at the time of the Claim. If this publication is not available, the “Retail Value” will be based on the NADA Guide, Official Older Used Car Guide, at the time of the Claim.
Qualitas Insurance Company
Commercial Value
Shall be determined upon the occurrence of the sinister pursuant to the value called “Average Trade In” of the NADA Guides (Official Older Used Car Guide) and in case this specialized Guide does not contemplate the Insured Vehicle, the Commercial Value shall be determined upon the occurrence of the sinister pursuant to the Kelley Blue Book Guide, Auto Market Report published by the Kelley Blue Book Co. of California, USA, under the value called “Fair Market Range”.
In the event no specialized Guide accepted by the Company considers the insured vehicle, the parties may use the prices determined by the market’s offer and demand on the date of the accident.
HDI Seguros Insurance Company
Commercial Value
It will be determined at the time of the Incident in accordance with the “Average Price Paid” value indicated in the J.D. Power Guide