Achieving road prevention
In commemoration of Yellow May we want to share with you this educational article so that you know what insurance is for, its meaning, statistical data and more. #YellowMay2025
Where does it come from?
In most countries, the insurance shares the same origin, which begins with the need for companies to take care of their assets that were transported by sea and wanted protection against damage caused by natural eventualities or theft.
Insurance in Mexico
The Federal Consumer Office from Mexico defines insurance as a means of protecting you financially against the risk of losing a good that would be difficult for you to replace. Depending on your objective and/or need, it will be the insurance that suits you best, some examples are life insurance, orphanage insurance, health insurance, home insurance, car insurance, among others.
Unfortunately, talking about car insurance, in Mexico the insurance’s culture it’s low, AMIS (Mexican Association of Insurance Institutions) reports that **there are 55,167,421 cars in circulation nationwide, only 27.2% were insured. **
Although in some cities of Mexico, since January 1, 2019, in 19 cities of the country, all cars, motorbikes, and motor-vehicle owners have covered civil liability insurance to promote a culture of road prevention, unfortunately it has not been possible to increase car insurance to at least 50% a national level.
Here are some reasons why you should purchase vehicle insurance for your company's fleet:
Financial protection: The insurance covers the costs of repair or replacement of the vehicle in case of accident or theft, which can prevent a significant financial loss for the company.
Legal compliance: In Mexico, liability coverage is mandatory for any vehicle traveling on federal highways, which means you must have insurance.
Tax benefits: In some cases, taking out business auto insurance can generate tax benefits for the company.
Improved employee relations: Insurance can motivate employees by providing them with peace of mind and job security.
In summary, taking out auto insurance for your company is an investment that can protect your business from financial risks, comply with legal regulations and provide peace of mind to your company, your employees and third parties involved in the event of an accident.
With Ayvens we want to be the consultant you need, our Full-Service Leasing product includes insurance within your monthly rent, and we explain what to do with your insurance? How does it work? What protects to you?
