Mexico Insurance for GMAC Financed Vehicles

If your car is financed or leased through GMAC and you plan to drive to mainland Mexico, you will need to purchase Mexican auto insurance with special coverage amounts which GMAC requires

GMAC, the auto finance company, requires that all financed vehicles get a permission letter from GMAC to take the financed vehicle to mainland Mexico. All auto finance companies require their customers to send proof of Mexican auto insurance before the finance company will allow the vehicle to enter Mexico, but GMAC is especially picky about what type of Mexican insurance is needed.

GMAC will reject any Mexican auto insurance policy that does not meet the specific GMAC coverage requirements

Our website offers many Mexican insurance policies that are compliant with the GMAC insurance coverage requirements

Before purchasing any old Mexican insurance policy, you need to know what the GMAC Mexico insurance requirements are. Our website offers many Mexico insurance policies that fulfill the GMAC insurance coverage requirements. In fact, our online quoting system specifically asks if your vehicle is financed through GMAC. If you answer 'yes' that your finance company is GMAC, then our online quoting system will only present you with Mexico insurance quotes that GMAC will accept. Below is a list of the current GMAC Mexico insurance coverage requirements as of October 2009. Please check with GMAC to make sure they have not changed any of their rules.

GMAC Mexico Insurance Coverage Requirements

  • A minimum of $100,000 worth of third party liability insurance. NOTE: GMAC states that they require $50,000 for physical damage liability and $50,000 for bodily injury liability. This means you need a total of $100,000 worth of third party liability insurance. Many customers assume that GMAC only needs $50,000 of liability total, but this is wrong. You need a TOTAL of $100,000. If you do not have a total liability amount of $100,000, GMAC will reject your Mexican insurance policy.
  • Fixed Deductibles of no higher than $500 for physical damage and $1,000 for theft. NOTE: you should get a Mexico insurance policy that has fixed deductibles in these amounts. Percentage based deductibles will be rejected by GMAC.
  • You must insure your vehicle for no less than what you owe on the balance to GMAC. If you owe $30,000 on your loan with GMAC, you can not insure your vehicle for less than $30,000 on your Mexican insurance policy. GMAC will reject Mexican insurance policies that state the insured value of the vehicle as less than the balance owed on the GMAC loan.

Why do you you need to get GMAC to approve of your Mexican insurance policy?

If you are driving your vehicle to mainland Mexico (besides Rocky Point or San Carlos in northern Sonora), Mexico requires you to get a temporary vehicle import permit on your car. If your vehicle is financed, then the Mexican authorities require a permission letter from your lienholder to take the car to Mexico before the Mexican authorities will issue the vehicle import permit. For this reason, you will need to get a permission letter from GMAC to take your car to Mexico. GMAC will not give you the permission letter unless you present GMAC with proof of Mexican insurance that meets their GMAC specific Mexico insurance coverage limits.

If you make the mistake of purchasing just any old Mexican insurance policy that does not meet the GMAC requirements, GMAC will reject your Mexican insurance and they will not give you the permission letter until you buy a new GMAC compliant Mexican insurance policy. This can be a frustrating waste of your time and money (we have heard of some Mexican insurance agents who will not refund customers for the policy that GMAC did not accept). So we do everything we can do to make sure our customers purchase the correct GMAC compliant Mexican insurance policy the first time around. Again, our website specifically asks if your vehicle is financed with GMAC, and if so, our online quoting system will only provide you with Mexican insurance policies that GMAC will accept.

If you have any questions about GMAC compliant Mexican insurance, we recommend calling our office so our licensed insurance agents can make sure you purchase a policy that GMAC will accept. 800-485-4075

As of October 2009, GMAC is the only finance company we are aware of that requires these special limits. However, many of our customers choose to purchase Mexican insurance with these higher limits even if they are not financing with GMAC because they appreciate the higher Mexico insurance coverage limits.


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