Mexican Condo Insurance


Mexico Condo Insurance is a specialized version of the Mexican Homeowners Insurance that covers contents, liability and common elements.

Mexican Condo Insurance
Prior to buying your Mexico Condo Insurance policy:
  • You need to review the insurable value of common elements your condo agreement require you to insure.
  • Condo associations in Mexico are supposed to buy a blanket Mexican Condo Insurance policy that covers the Association's property.
  • Typically, the association is responsible for insuring the building, common elements such as pools, other structures, and the interior walls, alterations, fixtures, etc.
  • BUT some condo association insurance policies cover very little of the fixtures, walls, alterations, etc., leaving you to cover them on your policy along with your personal property and liability.
  • Best practice is to find out what your condo association's commercial policy provides to determine what you need to purchase. It is also a good practice to refer to the association bylaws to make sue the association is buying what they are supposed to buy.

You will need to insure your portion of the condo common elements if the association has not bought adequate coverage. So make sure to buy coverage for this exposure on your unit's Mexico Condo Insurance policy. Don't worry, our Mexican Condo Insurance has been designed to be able to cover your portion of this exposure and our online quoting system has been designed so that you can obtain the level of coverage you need.

Contents Coverage:

In addition to protecting your exposure to the common elements, Mexican Condo Insurance provides All Risk Coverage on your contents, including theft, with the option of replacement cost. Coverage is also available for some of the hard to find perils such as hurricane and earthquake.

Do you rent out your condo?

Most traditional Mexico Condo insurance either exclude Renters Liability altogether, or charge an extra premium for it.

With DriveMex, its No Problem!

We cover rental liability and loss of rents up to the coverage limits or 12 months


Mexico Condo Liability Coverage:

DriveMex are proud to be able to provide coverage for third party lawsuits brought against you for incidents that occur on your premises that is very similar to the coverage you enjoy in the USA or Canada.

Traditional Mexican condo insurance policies either exclude Renters Liability coverage altogether or charge a substantial additional premium for it.

With DriveMex, if you rent out your home or condo, we also include Renter’s Liability coverage at no additional charge.

 

Special Savings: Customers who buy ACE Mexico's Mexican homeowners Insurance will receive an additional 7.5% discount off of your ACE Mexico, Mexican Auto Insurance premiums.


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July 1, 2014
Higher Mexican liability limits required

Increased 3rd party liability for accidents deaths benefits in Mexico, this applies to all people, if they cause a death, so make sure to buy adequate insurance limits on your: Mexican Auto Insurance, Mexican Watercraft Insurance and Mexican Homeowners Insurance.

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