Expats, you need to get health, car, boat, property insurance !? Insurance Broker just like in Canada, based in Puerto Vallarta.
Insurance policy in Mexico vs Offshore policies. A comparative analysis of the advantages of insurance policy regulated in Mexico by the CNSF versus an offshore policy.
To fully understand the differences between a policy regulated by the Mexican government’s federal insurance department, the National Insurance and Bonding Commission (CNSF), which is permanently advised by consultants from the United States and Europe, and an offshore policy, i.e. a policy not admitted in Mexico. It is essential to first understand the regulatory framework that governs each. A CNSF- regulated policy in Mexico is subject to the rules set by the Mexican regulatory authority, while an offshore policy operates under the scope of less stringent regulations in foreign jurisdictions. At Novamar, we provide guidance on the main benefits of selecting a regulated policy in Mexico. Corporate Office is based in Puerto Vallarta
The policy provides the following legal protection: CNSF-regulated policies provide comprehensive legal protection under Mexican law, facilitating dispute resolution through institutions such as CONDUSEF. In contrast, offshore policies are not subject to the jurisdiction of the Mexican legal system, which consequently restricts the legal recourse available to the insured.
Thinking about costs or unforeseen things like lost luggage or travel delays while on the road is always concerning. Even if you have medical insurance at home it might not always cover you abroad which is why companies like Novamar exist. Start using travel insurance when traveling long term and it was well worth the money. Whether you are traveling short-term, long term, or if you are a digital nomad it is always important to make sure you are covered in some capacity. Novamar is our go to all travel insurance. It is affordable and has all the coverage you need for travel and other insurances.
You need Insurance from Novamar Insurance México
Tourist Auto: https://www.novamarinsurance.com.mx/insurance-services/mexico-auto-insurance/tourist-auto/promovisionpv
Resident Auto: https://www.novamarinsurance.com.mx/insurance-services/mexico-auto-insurance/resident-auto/promovisionpv
Homeowners: https://www.novamarinsurance.com.mx/insurance-services/homeowners-insurance-mexico/promovisionpv
Boat Liability: https://www.novamarinsurance.com.mx/insurance-services/boat-and-yacht/boat-liability-coverage/promovisionpv
Travel: https://www.novamarinsurance.com.mx/insurance-services/travel/mexico-travel-insurance-covid-coverage/promovisionpv
Financial security: Insurers operating within the Mexican regulatory framework are required to adhere to rigorous financial standards, thereby ensuring their ability to meet their obligations to policyholders. The risk of an insurer becoming insolvent is higher in the case of offshore policies, which are subject to less rigorous regulatory frameworks and there is no protection for the insured in the event of bankruptcy of these companies.
Man at the table fills in the form of insurance.
Fraud prevention and tax compliance: The minimal regulatory oversight that characterizes offshore policies makes them more susceptible to fraud. In addition, failure to declare such policies to the relevant Mexican authorities may result in adverse tax consequences for the policyholder, including possible penalties.
In conclusion, it can be stated that the selection of a CNSF regulated policy in Mexico ensures greater financial security, comprehensive legal protection, and a policy tailored to the local healthcare system while mitigating the risks associated with offshore options. Should you require further guidance, we are at your disposal. Please do not hesitate to contact our Producer Executive from Travel Department of Novamar Insurance Mexico for your Mexican Health Insurance quotation.
If you plan to travel to Mexico for a short or an extended stay, or you’re planning to make Mexico your new home, you should consider insurance. Novamar is a premier Mexican insurance brokerage firm, that specializes in personal and commercial lines of insurance for Americans and Canadians and the expat communities in Mexico. We partner with the best insurance companies in Mexico to offer comprehensive insurance solutions according to your unique needs. Whether you require medical, homeowners, boat, or automobile insurance, Novamar Insurance Mexico is the right Mexican insurance brokerage firm for you.
We are a premier Mexican insurance brokerage firm, that specializes in personal and commercial lines of insurance for Americans and Canadians and the expat communities in Mexico. We partner with the best insurance companies in Mexico to offer comprehensive insurance solutions according to your unique needs. Whether you require medical, homeowners, boat, or automobile insurance, Novamar Insurance Mexico is the right Mexican insurance brokerage firm for you.
Thinking about medical costs or unforeseen things like lost luggage or travel delays while on the road is always concerning. Even if you have medical insurance at home it might not always cover you abroad which is why companies like Novamar exist. Start using travel insurance when traveling long term and it was well worth the money. Whether you are traveling short-term, long term, or if you are a digital nomad it is always important to make sure you are covered in some capacity. Novamar is our go to all travel insurance. It is affordable and has all the coverage you need for travel.
Get Your Quote Now
Tourist Auto: https://www.novamarinsurance.com.mx/insurance-services/mexico-auto-insurance/tourist-auto/promovisionpv
Resident Auto: https://www.novamarinsurance.com.mx/insurance-services/mexico-auto-insurance/resident-auto/promovisionpv
Homeowners: https://www.novamarinsurance.com.mx/insurance-services/homeowners-insurance-mexico/promovisionpv
Boat Liability: https://www.novamarinsurance.com.mx/insurance-services/boat-and-yacht/boat-liability-coverage/promovisionpv
Travel: https://www.novamarinsurance.com.mx/insurance-services/travel/mexico-travel-insurance-covid-coverage/promovisionpv
Novamar Insurance México is based in Puerto Vallarta
Medical Attention Services Puerto Vallarta https://promovisionpv.com/medical-attention-sevices-puerto-vallarta/
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