ABA Seguros Extended Coverage
ABA SEGUROS, S. A.
Plus Package (Optional Endorsement)
ABA Seguros Extended/Upgraded Mexican Insurance Endorsement
The ABA Seguros Plus extended or upgraded optional auto insurance endorsement offers top quality of coverage, high limits, GAP & great customer service.
When shown as covered on the face sheet of the policy, and upon payment of the corresponding premium, this endorsement modifies coverage and limits as follows:
Increased Limits for Civil Liability for Property Damage and for Bodily Injury to Third Parties
The Combined Single Limit for Property Damage Liability/Bodily Injury Liability limit is increased to US $500,000.
Increased Medical Expenses for Occupants of the Insured Vehicle
The limit for Medical Expenses is increased to US $15,000 per person, US $75,000 per accident.
Guaranteed Bond and Legal Assistance
The company legal representative will post bond or deposit the guarantee before the Agent of the Public Ministry Office and/or Penal Judge up to US $300,000 to obtain the provisional release of the Driver, and/or the release of the covered vehicle and to guarantee the repair of the damaged third party property.
Increased Cost of Repair
With prior agreement of the Company, the Insured may proceed to repair the vehicle outside Mexico. Instead of Mexican labor rates, the Company will require at least two estimates and will pay the actual labor costs incurred in the USA or Canada, not to exceed $ 100 per hour for any type of vehicle (only if covered for collision and upon payment of the corresponding premium). Vehicles will be considered a total loss at the option of the Company.
Deductibles for collision and total theft are fixed at US $500 and US $1000 respectively for all vehicle types, except for ATVs and UTVs, which carry a deductible of $2,000
Theft of parts and accessories that are permanently attached to the insured vehicle, excluding video and sound reproducing equipment, personal property, or objects contained in the vehicle. This coverage is subject to the fixed deductible of US $500 for theft.
Intentional and malicious damage to or destruction of the insured vehicle. This coverage is subject to a fixed deductible of US $500.
Deductible Waiver in Accidents with Third Parties at Fault.
If the insured is involved in an accident in which an uninsured third party is at fault as determined by the corresponding Mexican legal authorities, and damage is sustained to the insured vehicle, the company will pay for damages to the insured vehicle and waive the corresponding deductible.
In case of total theft or loss of the insured vehicle with a loan or lease on the vehicle, the company will pay the unpaid net balance of the loan or lease, even if the Actual Cash Value of the vehicle is less than the loan or lease amount. In no event shall The Company’s liability under this clause exceed the Actual Cash Value of the vehicle multiplied by 1.15. This coverage applies ONLY when the insured amount of the vehicle as listed on the declarations page is equal to or greater than the Actual Cash Value of the vehicle
The Insured, however, must fully cooperate with the Company in order to retain the corresponding right of recovery against the third party responsible for the accident.
Coverage Details – ABA Seguros – Extended
Section 1 (Collision):
This includes coverage for collision, overturning, glass breakage, and is subject to the deductible.
Section 2 (Theft):
This coverage includes total theft of the vehicle. Note that partial theft coverage is not available in Mexico unless you purchase an extended coverage option.
The Extended policy has a more comprehensive coverage package than that of the standard policy. While coverage varies by carrier it typically provides coverage for vandalism, partial theft, US Labor Rates, and much more.
This policy provides coverage for vandalism and is subject to a $500 USD deductible.
This policy provides coverage for partial theft and is subject to a $500 USD deductible.
Deductibles: $500 for collision and $1,000 for total theft. Additional Extended Coverage: Deductibles: $500 for partial theft and vandalism. ATVs and UTVs carry a deductible of $2,000
Regardless of the policy you choose you can have your vehicle repaired in the US. However, the labor rate will vary based on the policy you purchase. Standard coverage will pay a labor rate equal to the going Mexican labor rate. The extended coverage will have an increased labor rate.
US Labor Rate:
The policy will pay a higher rate per hour for the labor rate on your repairs rather than the lower Mexican labor rates.
The rates will be increased to $100 USD per hour regardless of the type of vehicle.
Uninsured Motorist Deductible Waiver:
If you are involved in an accident in which an uninsured third party is at fault as determined by the legal authorities, and you sustain damage to your vehicle, the insurer will pay for damages to your vehicle and waive your deductible.
3rd Party Liability:
In the event of an accident, this coverage protects you from bodily injury or property damages to third parties. This does not provide coverage to passengers inside the insured vehicle. We recommend purchasing the highest limits you can afford, but no less than $500,000 CSL.
This policy will provide up an amount equal to the liability limit in legal assistance for a covered loss in the event you need bail bonds or legal assistance.
This policy will pay medical expenses as a result of a covered vehicle accident of $15,000 USD per person / $75,000 USD per accident. Coverage is afforded to the driver and occupants in the vehicle at the time of the accident.
The underwriter provides a basic level of roadside assistance, for a more comprehensive package, please purchase the extended travel assistance options.
This policy includes the extended roadside assistance package which includes limited medical evacuation for certain situations; please see the terms and conditions for more detail.
This policy includes the extended travel assistance package which includes travel assistance for certain situations; please see the terms and conditions for more detail.
This policy includes the extended travel assistance package which provides a rental car for certain situations; please see the terms and conditions for more detail.
In case of total theft or loss of the insured vehicle and there is a loan or lease on the vehicle, the company will pay the unpaid net balance of the loan or lease, even if the Actual Cash Value of the vehicle is less than the loan or lease amount. In no event shall The Company’s liability under this clause exceed the Actual Cash Value of the vehicle multiplied by 1.15. This coverage applies ONLY when the insured amount of the vehicle as listed on the declarations page is equal to or greater than the Actual Cash Value of the vehicle.
Policy Terms and Conditions:
As always, review the Terms & Conditions of your policy before purchasing.