Auto Insurance Azteca Insurance: everything you need to know
Do not let the satisfaction of owning a vehicle be tarnished by something unforeseen. Although you cannot control everything that happens around you, you can prevent your car from always traveling the streets with the support and security you need.
To achieve this, the best alternative is to have insurance for your car. A car insurance gives you financial, legal and even medical certainty, in case you need it.
As support, at Guros we wanted to provide you with the stuff. That is why we created a guide with the most important information of all the insurers that offer auto insurance in the insurance market in Mexico.
This is a guide where you will know prices, coverage and details of the different options, so that your choice is the best.
Remember that when choosing your auto insurance , not only the cost matters. We must also consider that all your needs are covered, and the risks that concern you most are covered. And obviously, that all this is in line with your budget.
This time we are going to introduce you to Seguros Azteca's auto insurance. This company belongs to Grupo Salinas but is relatively young, with little more than a decade in the insurance market. However, it is increasingly gaining ground thanks to its attractive offer and its presence throughout the national territory.
1. Azteca Auto Insurance
1.1 Types of vehicles for which Seguros Azteca offers its auto insurance
First of all, we present the vehicles for which you can take out auto insurance with this insurance:
In other words, Seguros Azteca's auto insurance does not cover trucks, tractors or any other vehicle other than those shown in the previous list.
1.2 Vehicle uses covered by Seguros Azteca's auto insurance
Second, and if you are thinking of taking out this auto insurance, it is important that you take into account that your car must be for private use.
Additionally, it cannot be older than 30 years. In the case of pickups, it cannot have more than 2 ½ tons of cargo capacity and it cannot have more than 21 years of antiguaty.
1.3 Packages and coverage of the auto insurance of Azteca Insurance
Third, you should know that their packages are divided into Comprehensive, Limited and Civil Liability coverage plans.
For a more specific comparison between different insurers, the Guros team decided to develop a table listing the protection and coverage included in the packages that insurers have in common:
Rating of the compulsory insurance of Seguros Azteca
Rating N / A (No place in the ranking of 24 insurance companies evaluated)
No rating was found linked to the public information of the Bureau of Financial Institutions, where you can consult the measurement that evaluates financial entities and takes as a reference the number of Claims and Controversies received, as well as the Sanctions applied by the Condusef.
Despite offering the Compulsory Civil Liability Insurance , Seguros Azteca does not have enough elements to lead us to an updated evaluation of its services in this plan.
1.4 Deductibles and insured amounts of Seguros Azteca auto insurance
In addition to the above, it is important that you know the insured amounts and the deductible that you must cover in the event of a claim.
Seguros Azteca's auto insurance includes the following insured sums and deductibles in the main coverages it offers:
1.5 General conditions of the auto insurance of Seguros Azteca
Before hiring, it is very important that you take time to read the general conditions of this insurance.
In this document you will find as much detail as you need to know before hiring your auto insurance with Seguros Azteca. You can consult all the necessary information by clicking on the following link .
1.6 Insurance quote from Seguros Azteca for the 10 best-selling vehicles
How to choose the best option with the best cost-benefit? To help you resolve that question, this guide will help you facilitate the process of buying the correct insurance for your car.
Guros shows you the price of the 10 best-selling vehicles in Mexico , for which we use as a reference the Postal Code 06600 in Mexico City.
1.7 Seguros Azteca accident and road assistance telephone number
In the event of a claim, if you have your auto insurance with Seguros Azteca, the numbers to communicate it and wait for the assistance of an adjuster are the following:
CDMX and Metropolitan Area 15 20 98 54
Lada free of charge 800 810 6771
1.8 Other insurance and coverage offered by Seguros Azteca
Seguros Azteca has a wide range of products. That is why we took on the task of giving you a brief x-ray of the different insurance products that they offer:
2. Information about Seguros Azteca
2.1 General Information
Seguros Azteca began operations in Mexico in 2004. It is part of Grupo Financiero Azteca. According to its own description, it is a company with a “renewed vision of a traditional business.”
Since its inception, Seguros Azteca has had the robust distribution network of the financial group to which it belongs. This has allowed enormous growth, fundamentally taking advantage of the protection needs of other products it markets. This is how it has taken advantage of the Banco Azteca network, its Afore, as well as various credit options under the Grupo Elektra seal. This has allowed Seguros Azteca to reach a segment of the population that has been ignored by the insurance industry.
Some information about the insurer:
Countries where it operates
Seguros Azteca operates throughout the Mexican Republic and also offers coverage in the United States.
Because it belongs to Grupo Financiero Azteca, Seguros Azteca has the backing of one of the largest business groups in the country.
Number of clients and / or volume of premiums (total business )
Based on the calculations of the Mexican Association of Insurance Institutions ( AMIS ), during 2017, Seguros Azteca had operations for a $ 2 total, 357 millions of pesos.
Of that total premiums, $ 113 million pesos correspond to the insurance of a automobiles.
Ranking in the Mexican insurance sector
The previous numbers place Azteca in the place 30 of 83 in the global ranking of insurers in Mexico, with 0 . 35% of the national market.
Specifically in the automobile industry, occupies the place 25 of 32, with the 0. 11% of market share.
2.2 Financial information of Seguros Azteca
The main financial indicators of the insurer are the following:
Combined technical ratio of Seguros Azteca
As of the fourth quarter of 2017, Seguros Azteca had a Combined Index in the automobile sector of 87%, which places it with one of the best technical results in the insurance sector.
Turnover, cost per claims and loss ratio of Seguros Azteca
Taking into account the public data of the Mexican Association of Insurance Institutions, Azteca reported at the close of 2017 a raise of $ 2, 357 million pesos for the total of all premiums issued.
According to said AMIS data, for the automobile branch, Seguros Azteca billed a total of $ 113 millions of pesos. Additionally, you earned a total of $ 67. 3 million pesos in claims. In other words, Seguros Azteca has a loss ratio of 59. 58% of premiums at the close of 2017.
Financial valuation of Seguros Azteca
According to the rating agency Moody's de México , Regarding its long-term rating, Seguros Azteca obtained the note:
Ba1 stable outlook
The last update released by the agency dates from April of 2016.
2.3 Information on the quality of care of Seguros Azteca
In order to objectively measure the quality of care in claims of each of the insurers, in Guros we decided to resort to different official bodies to evaluate the service, claims and even sanctions to the insurers themselves .
Here we share the data of Seguros Azteca:
User Service Performance Index (Condusef)
Seguros Azteca had a rating of 8. 95 (on a scale from 0 to 10) in the Index of Performance of Attention to Users of the Condusef (IDATU) of the accumulated of 2017, reaching the position 15 of 83 of which there is a record.
Claims before the Condusef
In the first quarter of 2018, Azteca se located in the place 20 of 79, about claims before Condusef in the Automobile Damages branch, with 69 claims, with a favorable resolution of 19.4%.
Claims submitted on the total of claims attended
In the same first quarter of 2018, Insurance Azteca has a volume of 3, 483 claims and 30 claims for claims filed with the Condusef.
Regarding the ranking of insurers with the most claims, it is located in the place 19 of 28, with 0.6% of the total cases before the National Commission for the Protection and Defense of Users Financial Services.
Sanctions imposed on Seguros Azteca
Unlike other cases, and taking as a reference the portal of the Bureau of Financial Entities, during 2017 to Seguros Azteca I do not know sanctions were applied, therefore there is no evidence of any fine. Identical situation to the first semester of 2018.
Average valuation to Insurance adjusters Aztec
Here one of the most important points of the users and taking as a reference data from the National Commission for the Protection and Defense of Users of Financial Services, in its last average table of the evaluation of the adjusters , Seguros Azteca obtains the third worst rating, with a score of 2.0 ( on a scale from 0 to 10) and far from the average of 4.2.
2.4 Added values of Seguros Azteca
This point aims to mark some advantages compared to the average information of other insurers.
We know that competition in the insurance market is strong and each option presents its best offers, so we present the added values of Seguros Azteca for auto insurance that you can find:
Support of Quálitas and Ana Seguros
Multiple forms of payment: cash, debit or credit cards
Banco Azteca Credit (prior authorization)
Partial payments charged to an account at Banco Azteca
Hiring at any Banco Azteca branch the 365 days of the year
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