El Águila auto insurance: everything you need to know
Buying insurance for your car goes beyond complying with a legal procedure or paying for your policy. You will really realize if it works or not the moment you need to use it and unfortunately one of these occasions may be an emergency.
Due to lack of care, many people feel disappointed when the insurance does not give them the service they thought they had contracted, but more than bad faith, a common factor that causes these annoyances is ignorance.
So that you know a little more, the general information of the policy such as its validity, its coverages and deductibles, are on the first page, known as «Cover». Then comes a «Specification» section, in which the insurer indicates the coverage that you have contracted in a particular way, as well as the assets that you are protecting, up to what amount and what are its deductibles. Finally, there are the general conditions, which is the compendium of all the coverage offered by the company for insurance.
Reading this entire document, although it may seem cumbersome, allows you to know exactly what you have contracted, what are your rights and what the insurance company's obligations towards you and, if it does not comply with you, then yes, to be able to demand that I do so.
So that you can get to know the different companies better, at GUROS We created a guide that contains the general information of each one of them, as well as the details of their car insurance, so that you can make a better decision.
But also remember, if you have doubts or do not understand the scope of any clause, there is the figure of the insurance agent, who can explain how your policy works and be your financial advisor in the insurance issue.
Trust us, because we are here to help you.
It may interest you: 22 car insurance terms you need to know.
1. El Águila's auto insurance
1.1 Types of vehicles that can be insured in El Águila
The vehicles that you can insure at El Águila Insurance Company are exclusively cars and pickups. This means that motorcycles, buses and trucks (both for private use and for public use) are excluded.
1.2 Uses covered by El Águila auto insurance
These vehicles can only be covered by an El Águila policy if they have private use, that is, vehicles with functions such as taxis and trucks, as well as surveillance and / or patrols are excluded.
1.3 Packages and Coverages of the auto insurance of The Eagle
Seguros El Águila takes a slightly different approach to the traditional packages of the insurance market. In addition to the packages in comprehensive, limited and civil liability coverage, it has an option known as “semi-comprehensive”. This is. basically limited coverage with some additional coverage.
The basic coverage included by Seguros El Águila are:
- Material damage: both due to collisions, overturns and glass breakage, as well as the total loss due to material damage.
- Legal or legal defense.
- Guaranteed deposit.
- Legal assistance: covers defense, legal and medical expenses for occupants. These include the expenses for services of hospitalization, medical care, h nurse's hours, ambulance and funeral expenses.
- Civil Liability: covers damages to third parties in the event of a vehicular accident.
El Águila compulsory insurance rating
4.6 (Place 16 of 23)
If what you are looking for is to have the insurance that the law establishes to be able to circulate in some entities such as Mexico City or federal highways, there is the Obligatory Civil Liability Insurance.
In this regard, the Bureau of Financial Institutions (part of the Condusef) published in the year 2014 a ranking with the performance of the insurers that offer this basic auto insurance.
It measures the number of claims established by the insured before the Commission, In addition, it establishes the satisfaction achieved by each insurer, the sanctions imposed and the follow-up that the reviewed companies give to the observations indicated by the Condusef.
The Eagle Insurance Company obtained a rating in its mandatory insurance of 4.6 points from 10 possible, to occupy the site 16 of 23 companies authorized in Mexico.
1.4 Deductibles and insured amounts of the El Águila auto policy
The “insured sum” is the maximum amount that covers you for each coverage. It is the maximum limit of liability of the insurer. The «deductible» is the percentage or amount established that the client must cover in the event of a claim.
For El Águila auto insurance coverage, the insured amounts and deductibles offered are:
1.5 General conditions of El Águila auto insurance
As we commented at the beginning of this article about El Águila auto insurance, in the general conditions you can see all the details of the insurance coverage. That is to say, that is where it is more reliable to see everything that your auto insurance covers or does not cover.
It is an extensive document, but we recommend that, if you are thinking of taking out your auto insurance with El Águila, you take a look at the general conditions of El Águila auto insurance. This will help you to be sure that there will be no surprises in the event of a claim.
1.6 How much does the El Águila policy cost for 10 best-selling car models in Mexico?
In GUROS we elaborate a study that will help you to know the price of auto insurance with El Águila insurance. For this we take the . Next, we establish the annual payment method. We select the models 2018 and finally, we make the quotes in the postal code 06600, of the Juárez neighborhood in the City of Mexico.
Below we show you the result of the insurance quote of Seguros El Águila's auto insurance:
1.7 El Águila claims hotline
In case you have an emergency with your vehicle and need the support of an adjuster, El Águila's national claims service numbers are:
- For Mexico City and Metropolitan Area: 5488 8888
- For the rest of the Mexican Republic: 01 800 705 8800
1.8 Other insurance and coverage offered by El Águila
In addition to auto insurance, El Águila is authorized to sell damage insurance policies. This includes risks with a high level of specialization in the commercial and industrial sectors.
Its products include coverage for risks, such as: fire, lightning strikes, explosion, civil liability, machinery and equipment, glass breakage, cash theft, earthquake and volcanic eruption, phenomena hydro-meteorological and suspension of activities.
The Eagle has 26 insurances registered in the Register of Insurance Adhesion Contracts (RECAS) of the Condusef. Of these, five belong to automobile insurance:
- Tourist car insurance.
- Resident auto insurance.
- Mandatory vehicle liability insurance.
- RC stand arized.
- RC with deductible
2. General information about El Águila
2.1 History and general data
El Águila, Compañía de Seguros, is a company of Mexican origin. However, it is part of an American group founded in 1872: The Great American Insurance Group.
This group is a member of the American Financial Group (AFG). He specializes in the sale of automobile and casualty insurance. It has been operating in our country for more than a decade.
Provides coverage in Mexico, USA and Canada.
El Águila is considered a medium-sized company in the Mexican insurance sector. It has its headquarters in Mexico City, but it has customer service offices in the cities of: Puebla, León, Guadalajara, Monterrey and Mérida. Additionally, it has a service network in the US and Canada thanks to the group of which it is part.
2.2 Financial information of El Águila
Among the medium-sized companies in the sector, El Águila held the position 49 of 84 among all insurers operating in our country.
Premium volume (all lines)
As of the last quarter of 2017, El Águila achieved a sale of $ 785 thousand 439 pesos for net earned premiums in all branches where it is authorized according to figures from the National Commission of Insurance and Surety (CNSF). For the auto branch, the figure in the same period was $ 558 thousand 919 pesos.
Ranking in the Mexican insurance sector
As we mentioned, El Águila was ranked 49 of 84 late last year, among all insurers in the country. In other words, it has a market share of 0. 16%. For the auto branch specifically achieved the place 18, with a market share of 0. 54%.
Finally, El Águila reported a loss of $ 17 millions 543 thousand 788 pesos, with a combined technical ratio of 99% about the managed premiums.
Accident rate of El Águila
In the same period, El Águila paid a total of $ 451 thousand 082 pesos per claims in all branches where you work, with a loss ratio (ratio between premiums earned and claims paid) of 57. 43%. For the auto branch, the insurer paid $ 326 thousand 126 pesos and his accident rate was 58. 35%, according to the CNSF .
Financial rating of El Águila
As a guarantee of its financial strength, AFG, the corporate owner of El Águila Compañía de Seguros has the following qualifications:
- Baa1 Senior (stable outlook) of the house Moody's.
- B- (Stable) of the house AM Best.
2.3 Quality of care and level service of El Águila
The User Service Performance Index It is an evaluation of the Condusef with which you can compare the level of service of the insurers. In this area, El Águila has an outstanding rating in 2017 of 9. 42 of a maximum of 10 points. This puts the company in the spot 11 of 84 companies analyzed by the agency.
On the issue of quality of care, Condusef attended 219 claims in all bouquets by:
- Refusal to pay compensation.
- Disagreement with the time for the repair of the affected property.
- Disagreement with the time for payment of compensation.
Claims for claims attended
Are 219 claims were part of a total claims of $ 35 thousand 299. The balance between these two figures allows us to have another statistic known as the ratio of claims per claim . In the case of Seguros El Águila, it was: 0.6%. The above implies that it was placed in the place 25 of the 84 insurers evaluated by Condusef .
Ratio of claims over total claims handled
The foregoing implies that, compared to other companies included in the GUROS study, El Águila is in the middle table. The above compared to insurers such as GNP (0.9%), AXA (0. 84%) Mapfre (0. 07%) Zurich with a 0. 52%, Quálitas (0.3%), Chubb (0. 03%) HDI (0. 18%) General Insurance (0. 18%), ANA Seguros (0.0 16%).
Sanctions of Seguros El Águila before the Condusef
On the other hand, El Águila was sanctioned by the Condusef on one occasion last year. Said sanction was for an amount of $ 36 thousand 520 pesos, without clarifying the reason for said lack. This implies that it was most likely due to a minor fault.
Average valuation of the adjusters of Seguros El Águila
The last comparison criterion that we present in this study refers to the level of service of the adjusters of the insurers. In this section, the representatives of El Águila achieved a score of 3.5 points of 10 possible. This places the company in the position 13 of 26 insurance companies analyzed.
2.4 Added values of El Águila insurance
El Águila auto insurance offers a list of special benefits, among which are:
- In case of total loss, pay the value of the car and 10 thousand pesos more
- Includes coverage of vehicle accessories
- Terssa (If a third party crash your car, it causes damage equal to or less than 10 thousand pesos and does not bring insurance, El Águila offers him a policy so that he can pay you, without having to go to the Public Ministry lico).
- Assistance for tourist vehicles.
- Replacement car.
- Extension of civil liability.
- Special equipment, adaptations and conversions.
- Complementary medical services:
- Mediphone 24 hours.
- Home medical consultations.
- Ambulance dispatch for scheduled transfer.
- Medical references in the Mexican Republic
- Total loss only (SPT).
- Automatic adjustment of insured amounts (in case the value of the vehicle increases during the term of the policy).
Other benefits of contracting auto insurance with Seguros El Águila:
- You do not pay deductible in your first two accidents
- A network of Eagle-class workshops, certified in terms of its structure, procedures and with the power to initiate the repair immediately
- Power passing, tire change, fuel delivery and crane dragging with no event limit
- Locksmith service (two events by year)
- Taxi service (twice a year)
- Travel Assistance: unlimited events
- In the event of a travel accident: 3 days in a hotel for you and your companions or they will transfer you to the place you had planned to go while they repair your Unit
- If you had an accident and your car is in the workshop, El Águila will give you a Spare Car for 5 days
- Coupon for the payment of deductible in the renewal of the policy
- If you contracted your monthly or quarterly policy, the current cost of your insurance is frozen for 2 years
- Your next renewal will be automatic including these benefits
- Valuations are authorized remotely through the “Audatex” system, which speeds up the repair process and offers a 6-month warranty
Access to the Águila Móvil application
El Águila has a mobile app, which is available for Android and iOS. This app allows you to quote policies and report claims .