Basic Auto Insurance

Auto Insurance

Data show that the main reason why Mexico is not insured is, in general, the perception that it is very expensive

However, you should know that there are cheaper protection alternatives for your pocket, one of them is the Basic standardized auto insurance. We tell you what this insurance is about and we show you an evaluation that Made the Conduce seeking that insurers not only offer you this product but do so under the mark in law

What is Basic Auto Insurance?

Auto Insurance

It is an insurance that offers you the coverage for civil liability, that is, for damages caused to third parties in their property or persons. This financial product belongs to the family of standardized basic insurance (death, personal accident, medical expenses and health) that insurers must offer by law.


  • You are protected from civil liability for damages to third parties up to a maximum of 250 thousand pesos.
  • Does not cover damage to occupants of the vehicle itself.
  • Only applicable for private vehicles. Does not include motorcycles, public transportation, freight or taxis.
  • Generally, it is cheaper insurance.

How was the assessment of standardized automobile insurance carried out?

In last year, conduct requested information from the 35 insurers that have authorized the automobile product, of which 23 provided and were evaluated, while 12 said they did not handle and/or market the product.

Subsequently, of the 23 institutions evaluated, only seven submitted the complete documentation, and the remaining 16 showed one or more omissions to the documentation.

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What documents were evaluated?

Auto Insurance

insurance institutions did not enter the assessment, because they did not market and/or handle standardized basic automobile insurance product, did not deliver the required information or sold their auto insurance portfolio.

What was detected in the evaluation?

Auto Insurance

In the application, they regularly do not comply with the format of the Single Insurance Circular, mainly in what concerns to emphasize that it is a basic standardized insurance.

As for the cover of the policy, it was generally observed that the data of the operation are not indicated, so it was not possible to verify compliance with the provision.

Within the General Conditions, it was found that the letter is not at 12 points and in bold, which makes it difficult for the user to identify the causes for which the insurer is not responsible (exclusions).

There are institutions that on their website do not have enough information about standardized basic insurance, which complicates the dissemination of the product among users. Of the 23 institutions, only six publish the General Conditions digitally.

Why is it important to you?

Auto Insurance

With this type of evaluations, greater transparency is sought in the financial products that exist in the market. Financial institutions must comply with established standards to foster greater equity among institutions. It is important that you know how various financial products such as standardized basic insurance (in this case the automobile) work and which institutions or insurers comply with the regulations.

Evaluation findings

  • Despite the preparation of official formats, institutions do not use them or do not comply with the established ones.
  • Non-compliance with a normative component implied a zero rating in the document (application, policy, general conditions, civil liability, receipt, and the web).
  • Most insurance institutions do not disseminate or market the product, which makes it difficult to include and develop a culture of prevention among the population.
  • There are institutions that promote the product with a different name than the basic standardized insurance, which confuses the user and breaches the standard.
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