Insurance in Mexico

Homeowners Insurance

If you own a home or a condo in Mexico, it is wise to get homeowners insurance. Homeowners insurance is relatively affordable in many areas of Mexico. As in the U.S., rates will vary depending on region.

Homeowners insurance in Mexico is virtually the same as homeowners insurance in the states. A basic policy will provide financial protection in case of damage to your home and belongings and liability coverage in case someone is injured on your property or if you cause damages to someone else's property. This policy is sold as a package and includes Earthquake and Hurricane coverage with some exceptions.

Homeowners insurance in Mexico has recently entered the electronic age. As other insurance products embraced the convenience of automation, Mexico homeowners insurance has remained stuck in the practice of manual processing. Through the use of the latest technology and electronics, a homeowner can now get a Mexico homeowners insurance quote, bind coverage, and print proof of Mexico homeowners insurance in a matter of minutes.

Mexico Homeowners Insurance typically Policy Covers:

- Includes Hurricane Coverage and Earthquake Insurance!
- Fire and Extended Coverage
- Fire and Extended Coverage for Contents
- Theft and/or Breaking & Entering
- Volcanic Eruption, Lightning, and Explosion
- Smoke Damage and Soot Damage
- Natural Flood and Water Damage Caused By Pipelines
- Accidental Glass Breakage
- Civil Liability
- Electronic Equipment and Appliances
- Debris Removal
- Extraordinary Expenses
- Legal Assistance
- Rental Liability

Mexico Title Insurance

Title insurance is very important when purchasing property in Mexico. Jus t as in the U.S., it is important to consider all potential issues related to land rights and ownership. Many Mexican home buyers and investors believe that the Fideicomiso is sufficient to ensure a secure transaction. This is not always the case.
A Fideicomiso (Living Trust) does not take the place of or remove the need for Mexican Title Insurance. (A Fideicomiso can be dissolved in the event of Fraud, Errors and Omissions and certain Gov't and Ejido claims.) When purchasing Title Insurance in Mexico, be sure to read the master policy carefully and watch for exclusions.

Some title insurance companies insure only the Fideicomiso (Living Trust) and exclude fraud, gov't and Ejido claims, even developer liens. When purchasing title insurance in Mexico it is important to verify that the policy is on the land and not only the Fideicomiso.

The Importance of Mexican Title Insurance

In the U.S., title insurance is part of almost every real estate transaction, large or small. If title insurance in the U.S. is a wise choice, it is even more important when considering a purchase in a foreign country, including Mexico. Investment in Mexican real estate raises several distinct risks additional to those risks found in the United States.

When considering a real estate transaction in a country with unfamiliar laws, customs and language, it is very important to secure the services of an expert in Mexican Title Insurance.

Although the public notary (notario público) is a skilled, licensed professional who manages the closing process in Mexico. Regardless, there is some misunderstanding as to his or her role as a guarantor of good title.

The title history searched by the notario’s office generally goes no further than the last few transactions. The Mexican Supreme Court has stated that title defects in the remote chain of title survive and take priority over any current search produced by either the notary or personnel in the public registry.

Obtaining Mexican Title Insurance is highly recommended when purchasing a home or land in Mexico. If you have questions related to Mexican Title Insurance, we encourage you to reach out to one of our listed and preferred Mexico Title Insurance partners.

Insurance in Latin America

Just as it is in your country of origin, it is extremely important to select and purchase quality homeowners insurance in Latin America. Additionally, when making a real estate purchase in Latin America, it is wise to select a quality Latin American title insurance provider.

Mexico, Panama and Costa Rica are no different than the rest of the world when it comes to the need for quality homeowners and title insurance. Natural disasters such as hurricanes or floods are no stranger to the U.S. These natural events are certainly no stranger to Latin America. Additionally, land disputes are often found in Latin America just as in any other country. In those cases, having a sound Latin American title insurance policy is extremely important.

Latin American Home Investment is committed to providing Americans and Canadians with the most relevant and useful real estate purchase and home loan information. With that in mind, we are careful to promote only the best lenders, developers and insurance providers in Mexico, Panama, Cost Rica and the rest of Latin America.

We highly encourage you to reach out to our selected homeowners and title insurance providers. You can also feel free to submit your questions through our Latin American Insurance Information Form.

Latin American Insurance Information Form

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