Affirme Insurance Auto Insurance: everything you need to know
Choosing the right auto insurance is one of the most difficult tasks for drivers around the world and Mexico is no exception.
This choice is vital because if you choose well, it can save you and save you a lot of money. But if you choose wrong, you can lose out and with a lot of headaches.
That is why, to help you make this fundamental decision, in GUROS we are building a mega guide with all the information of auto insurers in Mexico. The idea is that you can know the different options available for your car, pickup or motorcycle, with objective and transparent information.
In order to choose between different auto insurance options, you must think about multiple factors: price, coverage, payment methods, and some other factors that greatly affect your experience when it comes to insurance for your car. [.
Consequently, it is important to know issues such as the level of service level and the coverage offered. Additionally, we must know the valuations before the Condusef and the Financial Entities Bureau. Finally, for the most knowledgeable users of insurance, it is even possible to review the financial information made public by insurers. The above will allow us to know if the insurance company you choose will cover your needs for auto insurance .
For all the above, at GUROS we want to help you find all that information and much more in this guide on auto insurance from Seguros Afirme.
we want to help you find all that information and much more in this guide on auto insurance from Seguros Afirme.
1. Insurance Auto Insurance Affirm
1.1 Types of vehicles for which Afirme Seguros offers auto insurance
First of all, with Afirme Seguros you can find auto insurance to cover the following types of vehicles:
Public service urban buses
1.2 Uses of vehicles insured by Afirme Seguros
1.3 Packages and Coverages of the auto insurance of Afirme Seguros
Here are the Afirme Insurance packages for auto insurance. They are actually the 3 most frequently offered packages on the market, albeit with a quirk. In the case of Afirme car insurance, there are specific restrictions based on the age of the car you want to insure.
That is, the packages and restrictions of each package according to the age of the vehicle are the following:
Wide: cars with a maximum age of 10 years.
Limited: maximum age 15 years.
Civil Liability: with a maximum age of 20 years.
Here is a table with which you can compare the coverage included in each package:
If you have doubts about the differences between the most common packages of the market, in the GUROS Blog we have an article that it will help to have all the necessary information.
Qualification of the compulsory insurance of Seguros Affirme
8. 36 (Position 12 of 23 insurance companies evaluated)
Affirme Insurance specifies that its Standardized Basic Insurance is only for cars. The foregoing implies that it does not cover motorcycles, public transport, taxis or cargo vehicles. However, for these uses, Afirme offers specific special services. Finally, it is important to mention that this product only covers the basic requirements of Compulsory Civil Liability Insurance at the national level.
1.4 Deductibles and insured sums of the auto insurance of Afirme Seguros
In the different Afirme Seguros auto insurance coverage packages you can find the following deductibles and insured amounts.
1.5 General conditions of Afirme Seguros auto insurance
Before contracting insurance with any insurer, we recommend that you first read the general conditions. In the case of resident car insurance from Afirme Seguros, you can see the general conditions here .
1.6 Afirme Seguros auto insurance quote for 10 best selling vehicles
For this mega guide of insurers, at GUROS we want to replicate the experience you will find when you are online, and include the costs of each insurer with the 10 best-selling models in Mexico during 2018.
However, in the case of Afirme Seguros it was only possible for us to obtain quotes for the coverage that we present below. Notwithstanding the foregoing, we make the quotation using the Postal Code 06600 , from Colonia Juárez in Mexico City as a reference. Additionally, models were always quoted 2017 to facilitate comparison .
Here are the results for the price of auto insurance Insurance Affirm:
1.7 Affirme Seguros accident and road assistance telephone number
In case you need to report a claim and your auto insurance is with Afirme Seguros, you can call the following numbers according to your location within the Mexican Republic.
From Mexico City: 4763 3050
Monterrey: 8318 3874
From the interior of the Republic: 01 800 704 4763
Likewise, we invite you to read the Car accident guide that we have written in GUROS. This will be very helpful to minimize the damage suffered in the event of an accident.
1.8 Other insurance and coverage offered by Seguros Afirme
Within the same automobile branch, Seguros Afirme also has products for vehicles intended for passenger transport, whether public or private:
Public service urban buses
It also includes a supplement to the contracted policy, called 'Consequential Losses', which covers you in the event that the compensation received for total loss or theft is less than the cost of another car on credit.
Outside the automobile industry, Afirme also offers the following insurance:
Civil Liability and Professional Risks
Maritime and Transport
Earthquake and other catastrophic risks
In total, before the Registry of Insurance Adhesion Contracts (RECAS) of the Condusef, Affirme has 28 types of contracts in all branches (8 of which are for automobiles).
2.Affirme Insurance Information
2.1 General Information
Afirme Seguros was born in 2017 as one more branch of Afirme Grupo Financiero. It currently has a template of 200 collaborators and more than 1,000 agents nationwide.
Some information about the insurer:
Countries where it operates
Afirme is a company focused on service in Mexico. Although its general offices are in Monterrey, Nuevo León, the insurer has a presence in the main cities of the Republic. However, it focuses mainly on the north and center of the country.
Number of clients and / or volume of premiums (total business)
According to Solvency and Financial Condition Report 2017 insurance Affirm, during 2017 had 955, 549 insured clients in all lines of business.
In the automobile section, the number of customers was 306 , 997 during the same 2017.
Ranking in the Mexican insurance sector
At the close of 2018, Afirme Seguros occupied the position 22 among all 84 insurance companies measured by the Association Mexicana de Instituciones de Seguros (AMIS). This implies that it managed to catch the 0. 96% of the insurance market in Mexico.
The Solvency and Financial Condition Report specifies that in 2017, the Automobile branch was the one with the highest growth. This is confirmed in the statistical data of the AMIS, which places Affirme in the position 12 of 33 in insurance companies in this field, with 1. 77% From the market.
2.2 Affirme financial information Insurance
According to the reports and documents presented to the general public, the main financial indicators of Afirme are:
Combined index of Afirme Seguros
First of all, it is important to observe the Combined Index (also known as the Combined Ratio or Combined Technical Ratio), the main indicator of the insurer's results.
In your Solvency and Financial Condition Report, Insurance Affirme displays a Combined Index of 88. 39% in all branches. For the specific case of the automobile industry, the technical ratio is 94. 51%, which places it as one of the insurers with the worst and best margin sector operating.
Turnover, cost per claims and loss ratio of Seguros Afirme
In 2017, Seguros Afirme issued premiums in all lines for a total of $ 4, 633 millions of pesos.
If we focus specifically on the automotive industry, the total turnover was $ 1, 821 millions of pesos. Despite the growth, the loss ratio of the branch remains at $ 1, 046 million pesos, which places the loss ratio on premiums at 57%.
The loss ratio, according to figures from the Solvency Report and Financial Condition of the AMIS, is of 53. 84% in all branches. This is largely due to the good result in the automobile industry, where the loss ratio reached 60. 01%, one of the best in the sector.
Financial valuation of Afirme Seguros
According to the evaluation of the rating agency Standard & Poor's, Seguros Afirme has a credit quality rating of «mxA» and «mxA-2» on the national long and short-term scale.
2.3 Information on the quality of care for Affirme Insurance
It is important to remember that you should not only take into account the cost of auto insurance and the financial health of the insurer in question. Additionally, we must observe the quality of care to the insured according to the state in question.
For this reason, and to offer you the most complete information, at GUROS we take into account different sources from official bodies to review the quality of service to users of each of the insurers we work with.
For Afirme Seguros, the results are detailed below:
User Service Performance Index (Condusef)
During 2017, Afirme Seguros had an average rating of 9. 24 in the IDATU, with what occupies the place 12 of 79 insurance.
Claims before the Condusef
In the period from January to December of 2017, before the Condusef 257 claims in the automobile branch against Seguros Affirme. Mainly due to: refusal to pay compensation, non-compliance with the repair time of the affected property, non-compliance with the time for payment of compensation and denial or lack of attention to a cancellation request.
Claims submitted on total claims attended
In 2017, Afirme Seguros served a total of 116, 787 claims, almost 2.5% of the total in the country.
By taking into account these data and contrasting them with the 257 claims, the claims / claims ratio in 2017 was 0. 22%.
Sanctions imposed on Seguros Affirme
However, despite the 260 claims , none of these claims was worthy of a sanction by the Condusef.
Average valuation of Affirme Insurance adjusters
Affirme adjusters have a poor rating, scoring only 2.7 out of 10; This rating is recorded from 7 assessed adjusters.
It is worth mentioning that the general average between the 26 insurers with at least one report is 4.2.
2.4 Added values of Afirme Seguros
Being one more branch of the general business, several of the added values of Seguros Afirme are integrated into existing products of Grupo Financiero Afirme.
Here are the most relevant ones:
A single policy can group two or more cars
Insurance policy Civil Liability in the United States and Canada free (only in participating States)
Monthly, quarterly, semi-annual or cash payment options
Affirm cardholder promotions
Mobile application: finally, it is worth mentioning that Seguros Afirme has a mobile application for iOS and Android in which it allows the user to quote the insurance auto, life, home or SME; check policy status and receipts and report claims from your smartphone.