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Auto insurance for Mexico students can cost up to 40% less

35% of the fatalities of a road accident are people between 15 and 29 years old, according to the Mexican Association of Insurance Institutions (AMIS)

Young people are the most expensive sector to insure, specifically in the automotive sector; in fact, 35% of the fatalities of a road accident are people between 15 and 29 years old, according to the Mexican Association of Insurance Institutions (AMIS).

Given this, in Mexico there are more and more drivers under 30 who need auto insurance for their vehicles. In many cases they are students or recent graduates who still lack sufficient income, but are highly vulnerable to both accidents and theft of their cars, so they require cheap and reliable car insurance.

Young people generally do not have the same economic facilities as someone with a stable job and still depend on their parents for heavy expenses.

On the other hand, the segment of the so-called millennialso young people from 25 to 38 years, represents 33% of the total demand for cars in Latin America, matching the traditional segment of buyers between 35 and 44 years, according to Mercado Libre Motors data , digital platform for the commercialization of vehicles.

Young people are looking for more efficient cars in the consumption of gasoline, which have more technology and adapt to their lifestyle, in addition to ensuring that their budget is not unbalanced.

It should be noted that auto insurance is mandatory to circulate through federal routes, as well as in Mexico City and in more than 15 states of the Republic.

In Mexico there are several insurers that have an agreement with educational institutions to provide students with auto insurance at a considerable discount.

Auto insurance for students in Mexico

There are universities that provide agreements with insurers to offer students, graduates and workers who work in them, various benefits to acquire auto insurance. Among the educational institutions that have an agreement with an insurer, are:

 National Autonomous University of Mexico :

Offers special discounts with insurers in agreement, including ANA Seguros, Quálitas, HDI Seguros, GNP Seguros and AXA Seguros. The benefit also applies to UNAM graduates registered in the Alumni Linking Program.

 Universidad Panamericana :

In addition, discount on the purchase of car and truck tires of the Michelin, BFGoodrich and Uniroyal brands paying with cash or card at Astrollantas. Also ask for preferential prices when buying new and pre-owned cars at Chevrolet América Motors.

Universidad del Valle de México :

 Alliance with Mapfre Seguros and Best Insurance that offer to reduce the policy up to 40%, according to the car model. In addition, depending on the type of car and insurance that are sought there are other agreements with entities such as: Inbursa, GNP Seguros, Banorte Seguros with a discount of 40% to 50%; Best Insurance with up to 45% discount; HDI Insurance with discounts of 20% to 40%; Mapfre with up to 35% less for motorcycles.

Recommendations if this is the first time car insurance are contracted:

1. Compare. The most important thing is to make an exhaustive analysis of all your options. For this, you have to rely on online comparators, which will show all the necessary information from all insurers.

2. Review the coverage well. You must keep in mind what is needed and what is not for the car. Remember that by law all cars must have at least Civil Liability coverage.

3. Customer service and attention. Investigate how fast they are to get to the scene of the accident, to answer calls and to service the car or to doubts.

4. Reputation of the insurer. Search reviews, comments, opinions of users of different companies to value their service by voice.

5. Value cost benefit ratio. Ask for help from a family member, friend or even an experienced lawyer when reading the contract to clarify all the terms used, the clauses and the conditions.