Know the limits of your auto insurance

When hiring policy, you need to know which one offers the insurance of your car and what type of protection given to the time of an accident, as this can help you make better use of your investment.

In the words of Hector Rode, vice president of Product and Marketing Executive of AXA Insurance, "the person who hires an insurance policy has to know what this product offers and how it protects the time of an accident, it is vital to a proper functioning of the same. "

For example, one of the common questions is whether the policy covers damage to third parties when the driver was driving while intoxicated or under the influence of any drugs. Whether it is an offense or crime, the insurer is obligated to provide its services, the executive said.

"In regard to the policies of Axa, the damage is covered and the amount of it," says Rode, "however, does not absolve the criminal liability or be the person who is driving under the influence of drugs or alcohol and if it goes speeding, we respond to the economic cost of the loss, "he adds.

For its part the National Commission for the Protection and Defense of Users of Financial Services (Condusef) notes that although the insurer says that's OK cover the costs of damage caused in this case, keep in mind that all insurance companies have exclusions own conditions so please read well your contract.

If you want to clear this or other questions, noting some of the exclusions that some insurers have in their contracts, according to the Mexican Association of Insurance Institutions (AMIS) and the Condusef.

1. The policy does not cover damage or caused when the driver is not licensed or license.

2. When the wrecked vehicle does not have characteristics that appear on the face of the policy and are those that distinguish the car insured.

3. Not cover damage covered by the wear and tear of car parts.

4. Does not cover breakage of side mirrors, taillights, fog or glazing other than those originally installed by the manufacturer.

5. If you provide false information when engaging the insurance policy may be invalid and if you have an accident the insurance will not protect you.

According to the Amis, about 22 million cars circulating in the country, of which 50% are insured. Although "people who buy a policy, only half know in detail the types of coverage that provides insurance and what are the exclusions," says the Condusef.

For this reason, the recommendation is that before signing the insurance contract provided by the insurer, rather read what you sign and if in doubt ask your advisor.

With information from: cnnexpansion.com