The Extension of the Vehicle Regularization Program in Mexico: Implications and Importance of Insurance

The extension to three more months of the regularization program for used vehicles by presidential decree and at a low cost, does not indicate anything other than that the Mexican custom has been the same, leaving things to the last minute, affirmed Miguel Ángel Rodríguez Sosa.

The insurance expert said that this implies in the same way, that this lack of interest in doing things, affects that the attention that obtaining voluntarily and for the same type of insurance should not be given that offers that peace of mind in the event of an event caused or suffered by and in your vehicular property.

However, it must be considered that while the competent authorities do not basically seek in this matter of “chocolate cars”, that responsibility that by granting the citizen a franchise so to speak to legalize the stay in the country of their motor unit, be accompanied by the obligation to take out vehicle insurance.

“He ventures to think that this simple fact implies that the interested party is less motivated to regularize his chocolate car, this due to ignorance of vehicle insurance products, or thinking that they are onerous or only for wealthy people,” he said.

And this is not the case, -he added- since vehicle insurance can be paid on a monthly, quarterly, semi-annual or annual basis, even charged to a type of debit or credit card with a collection notice or direct debit payment.

As an example of a vehicle cost, a sedan car only damages to third parties in national territory with extended insurance for the neighboring country to the north fluctuates between three thousand eight hundred in a single payment and for the whole year, for vehicles.

“In broad coverage there it will depend on the model and type of unit, but with the same payment benefits already indicated,” Rodríguez Sosa stated.