En este momento estás viendo Auto insurance Primero Seguros: everything you need to know

Auto insurance Primero Seguros: everything you need to know

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First Insurance car insurance: everything you need to know

Auto insurance is an essential product, both for regulatory and legal reasons, as well as for the physical safety of your vehicle and its occupants. In addition, it is the best way to drive your car always with the peace of mind that someone will support you if you need it.

Making a good choice about which auto insurance to choose can save you serious financial, legal and even personal and health problems. That is why it is vitally important to choose well.

To achieve this, you must take into account the most important variables and factors that will allow you to feel calm and calm when driving your vehicle.

That is why in Guros we are conforming a mega guide with the most important information of all the insurers that offer auto insurance in Mexico. The intention is to help you make an informed decision based on your needs.

In this guide we will verify the fundamental characteristics of each insurer and their auto insurance. Among the factors analyzed are the types of vehicles, uses, packages, prices and forms of payment. Additionally, we will provide you with all the general and financial information of the insurer. Finally, we will provide you with the level of quality in the attention to its policyholders and the rating of the auto insurance that the Condusef grants to each insurer.

All these factors are essential for you to make the possible decision about auto insurance ideal for your vehicle.

This time we will review the options offered by the company Primero Seguros from Monterrey. This company is the Mexican subsidiary of Am Trust Financial Services, and is specialized in offering automobile and damage insurance.

1. First Insurance Auto Insurance

1.1 Types of vehicles for which Primero Seguros offers auto insurance

First of all, you should know that Primero Seguros auto insurance includes protection for the following vehicles:

  • Cars
  • Pickups
  • Fleet and collective
  • Tractors, Tractors, Trucks and Tanks
  • Motorcycles
  • Trailers
Primero Seguros, seguro de auto

1.2 Uses of vehicles insured by Primero Seguros

Second, you must take into account that Primero Seguros insurance accepts vehicles with use:

  • Private.
  • Commercial.
  • Loading.
  • Public service and / or federal.

1.3 Packages and Coverages of Primero Seguros auto insurance

Like practically all the insurers in this guide, Primero Seguros offers the three most common packages in auto insurance: Comprehensive, Limited and Civil Liability.

We must emphasize that in its Civil Liability and Limited Coverage Package, Primero Seguros offers extra protection to the standard coverage of other insurers. In addition, it has a Comprehensive Plus coverage, which gives more benefits to the insured (for a higher cost).

Finally, it should be mentioned that below the CR coverage, there is the Standardized Basic Insurance. This is the minimum coverage package required by Mexican law so that you can circulate on federal roads.

  • Extensive Plus.
  • Wide.
  • Limited.
  • Civil Liability.
  • Standardized Basic Insurance.

So that you can compare what the most common Primero Seguros packages include, we list this table where you can see the coverage of each one of them.

Primero Seguros, seguro de auto

Qualification of First Insurance of the compulsory insurance

8. 68. Position 12 of 23 insurers

Primero Seguros, seguro de auto

For the qualification of the Compulsory Civil Liability Insurance , Primero Seguros is located in the position 11 of the 23 insurers that offer this mandatory product to circulate on federal roads and highways in Mexico.

1.4 Deductibles and insured amounts of Primero Seguros auto insurance

Primero Seguros, seguro de auto

1.5 General conditions of Primero Seguros auto insurance

In order for you to find the best auto insurance for you, it is important that you have all the necessary information at hand. The best point of reference for each insurer are the general conditions of auto insurance. These allow you to give you a specific idea about the different coverage offered by each insurer. In addition, it will allow you to estimate, before the claim, how your relationship with the insurer may be.

Therefore, we invite you to consult the general conditions of Primero Seguros auto insurance by clicking here.

1.6 First Insurance auto insurance quote for the 10 best-selling vehicles

To make your life easier, at Guros we undertook the task of quoting the cost of Primero Seguros auto insurance for the best-selling vehicles in Mexico.

We take this list of the 07 best-selling models and we enter the Postal Code 06600 of Colonia Juárez in Mexico City as a reference.

Primero Seguros, seguro de auto

1.7 First Insurance claims telephone number

In the event of a claim or if you need road assistance from Primero Seguros, you can dial the telephone number: 000 800 017 06600.

Primero Seguros, seguro de auto

1.8 Other insurance and coverage offered by Primero Seguros

Primero Seguros offers different products, all within the line of damages. The insurance products included are the following

  • House Room
  • SME
  • Business
  • Civil Liability for
    • Companies.
    • Contractor teams.
    • Shows.
    • Workshops and Parking.
  • Industry.
  • Merchandise transports
  • Contractor equipment and machinery rental
  • Bikes.
  • ATV's (fourth cough).
  • Cancellation of wedding or private event.
  • Before the Register of Insurance Adhesion Contracts (RECAS) of the Condusef, Primero Seguros has 24 types of contracts in general in all branches (of which 2 are for automobiles: resident and tourist automobiles)

    2. Information on Primero Seguros

    2.1 General Information

    Primero Seguros is a Mexican company founded in 2008 in the city of Monterrey, Nuevo León, which specializes in auto and damage insurance.

    Primero Seguros, seguro de auto

    Subsidiary of Am Trust Financial Services, which acts as a shareholder and parent company to give it financial strength in its mission of increasing the offer in the Mexican insurance market, with different product options and coverage.

    Some information about the insurer:

    Countries in which it operates

    Primero Seguros operates only in Mexico. However, its shareholder Am Trust Financial Services has operations in 70 country s.

    Primero Seguros, seguro de auto Primero Seguros, seguro de auto

    Number of clients in Mexico and / or volume of premiums

    In your Solvency and Financial Condition Report of 2017, Primero Seguros reports having completed 2017 with 963, 561 insured in all lines of Damage. The vast majority of its policyholders come precisely from auto insurance. Primero Seguros has 848, 848 Insured vehicles at the close of 2017.

    Primero Seguros, seguro de auto

    Regarding Premium Volume, the same report gives a total of $ 636. 3 million pesos in all branches. Specifically for the automobile industry, Primero Seguros has a premium volume of $ 524. 1 million pesos.

    Ranking in the Mexican insurance sector

    Statistics 2017 of the Mexican Association of Insurance Institutions (AMIS) places Primero Seguros in the position 51 of 84 insurance companies, with the 0. 14% of the total market in Mexico. In the automobile industry, it occupies the position 19 of 33, with the 0. 51% market share.

    2.2 Financial information of Primero Seguros

    Ratio Combined technician of Primero Seguros

    The Combined Technical Ratio shows the operating results of each insurer. It is expressed as a percentage, the result of dividing the costs of claims, acquisition and operation over the total premiums managed by the insurer.

    According to the First Insurance Solvency Report, its global Combined Index is 102%. Specifically for the automobile industry, its combined ratio is 110%.

    Billing

    The total billing of Primero Seguros in 2017 was $ 636. 3 million pesos and total claims expenses were $ 321. 8 million pesos.

    Taking into account only the automobile branch, the invoicing for the premiums issued was $ 522. 1 million pesos, and the cost of the accident rate was $ 302. 1 million pesos.

    Accident rate

    Based on the above, we can deduct the loss ratio of Primero Seguros. Globally, its accident rate was 68%, and in the specific section of cars it was 69%. All the above data appear in the Solvency and Financial Condition Report 2008 of Primero Seguros.

    Financial valuation

    Due to the support offered to Primero Seguros by its parent company AmTrust Financial , the Securities Rating Agency Verum granted Primero Seguros the AAA rating / M for its financial strength.

    Primero Seguros, seguro de auto

    2.3 Information on the quality of care provided by Primero Seguros

    The quality of customer service is one of the most fundamental factors to have a good experience with your car insurance.

    In Guros, with the intention that you have the most complete information possible, we take sources from different official bodies to evaluate the quality of the services of attention to the insured of all the insurers that offer insurance of car in Mexico.

    The results of Primero Seguros indicate the following:

    User Service Performance Index (Condusef)

    According to Condusef, Primero Seguros is one of the best 10 Mexican insurance companies in Customer Service, having a rating of 9. 46 in the IDATU 2017, which places it in the position 10 of 79 insurance companies.

    Primero Seguros, seguro de auto Primero Seguros, seguro de auto

    Claims before the Condusef

    During 2017, Primero Seguros only received 23 claims before Condusef of dissatisfied policyholders. The majority were due to refusal to pay compensation and disagreement with the time for payment of compensation.

    Claims submitted on the total of claims attended

    The 23 claims to Primero Seguros came from a total of 19, 561 claims attended in 2017. This places your ratio of claims over total claims handled at 0. 11%.

    Primero Seguros, seguro de auto

    In comparison, other insurers handle the following ratios:

    • Quálitas: 0.3%
    • Mapfre : 0.7%
    • HDI Seguros: 0. 20%

    The Claims Index for each 11 thousand claims , taken with the methodology of the Bureau of Financial Institutions (total claims / total claims) 10, 000 It is 11. 18 claims for each 10 thousand claims.

    Primero Seguros, seguro de auto

    Sanctions imposed on Primero Seguros

    During 2008, the Condusef did not apply any sanction to Primero Seguros in any branch.

    Average valuation to adjusters

    Single 26 insurers have at least one report evaluated on the Condusef adjuster portal. Primero Seguros is not one of them, but you can consult the rest of the information in this link .

    2.4 Added values ​​of Primero Seguros

    • Greater protections in Limited and Civil Liability packages than others insurance companies
    • Payment of 10% additional to the commercial value for material damage in the Amplia Plus package

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