Does your car have insurance? No? Well, from now on you will need to insure it if you want to hit the road.
Last week the House of Representatives approved amendments to the Law on Roads, Bridges and Federal Motor Carrier that makes it mandatory for all vehicles traveling on toll roads, federal roads and bridges to have insurance for third party liability.
So if you live in a state where insurance is not mandatory (it is in Yucatán), you will need to obtain insurance coverage to drive on a federal highway.
Juan Carlos Muñoz Márquez, president of the Transport Committee of the Chamber of Deputies, said in an interview that since it was previously approved by the Senate, the amendment only requires enactment by the President to take effect immediately.
Federal Police vehicles on the Mérida – Cancún Highway
The amendments establish penalties and fines of between 20 and 40 days of minimum wage to those driving without an insurance policy that covers third parties for damages arising from an accident. The fine would be waived if the motorist obtains insurance within 45 days.
Regular inspections will be conducted by the Federal Police. Proof of insurance may be required by the Ministry of Public Security, via the Federal Police, through inspections on roads or when a Traffic Regulation is violated.
Car Insurance to be mandatory
Currently 32 companies sell this type of insurance, although the number will grow because of greater demand. The insurance companies will supply a wider variety of these products, and therefore, premium insurance prices are expected to decrease.
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