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General insurance auto insurance: everything you need to know

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General de Seguros auto insurance: everything you need to know

In se GUROS we want to help you choose the best insurance for your car.

This means not only the best price it can offer you, but also for the products and coverage it has. In addition, we will tell you the requirements and restrictions that each insurer establishes in their auto insurance.

On this occasion, we present you the information of General de Seguros SAB, a Mexican company that offers different options in the insurance of car.

1. General de Seguros auto insurance

1.1 Types of vehicles for which General de Seguros offers auto insurance

First of all, in order to contract auto insurance with General de Seguros it is important that you have one of the vehicles for which it offers auto insurance. These vehicles are those that have the following characteristics:

  • Car
  • Pickup
  • Motorcycle
  • Maximum load unit 3.5 tons

1.2 Vehicle uses insured by General Insurance

Second, the vehicle you have must be used for one of the uses covered by the insurer. That is, to protect your vehicle with General, your vehicle must have one of the following uses:

  • Particular
  • Public transport
  • Armored vehicles can also be insured but must go through a review of the General Insurance Underwriting Area

In addition, all vehicles that wish to be insured by General de Seguros must:

  • Have license plates or circulation permit in Mexico or the United States
  • Be manufactured in Mexico or by companies that have national distributors authorized
  • 1.3 Packages and Coverages of the car insurance of General de Seguros

    General offers for your auto insurance the three traditional packages of the Mexican insurance market: Comprehensive, Limited and Civil Liability. But it also offers an additional product, a step above the Wide coverage, called «Prestige», with which you can receive a better valuation for your vehicle in case of Total loss.

    In GUROS you can verify the coverage that includes the 3 packages offered by most of the insurers in Mexico. In the case of General de Seguros auto insurance, the main coverages are the following:

    We invite you to consult the details of all the auto insurance coverage on the GUROS Blog so that you can make the best decision according to your needs.

    General Insurance Rating of the compulsory insurance

    Rating 9. 74 (Ranking: place 2 of 23)

    In the Bureau of Financial Entities, the rating of insurers is calculated based on the Claims that users report to the Condusef, as well as the penalties received and other supervision issues.

    If you want to know what the Obligatory Civil Liability Insurance is about , we invite you to review our blog.

    1.4 Deductibles and insured sums of General de Seguros auto insurance

    These are the sums insured by General de Seguros auto insurance and the deductible in each package:

    1.5 General conditions of General de Seguros auto insurance

    To review the general conditions of General de Seguros auto insurance and everything they include, click here .

    1.6 General de Seguros auto insurance quote for the 10 best-selling vehicles

    To make things easier for you, in GUROS you can quote the cost of the 3 most common packages in General Insurance and compare them with other insurers.

    To help you get an idea of ​​what the cost is, we put at your disposal a table with the cost for the 10 best-selling vehicles in Mexico during 2018 and we quote an annual payment, taking as reference the Postal Code 06600 of Colonia Juárez in Mexico City.

    1.7 Claims and road assistance telephone number of General de Seguros

    If you have a General Insurance policy and you have to notify a claim or request assistance, you can do so at the following telephone numbers:

    • If you are in Mexico City and the Metropolitan Area : 5278 8888
    • From the Interior of the Republic: 01 810 4727 696

    Remember to consult in detail our Car accident guide so you know what you should do to minimize the damage caused.

    1.8 Other insurance and coverage offered by General de Seguros

    In addition to the packages mentioned for car insurance from General de Seguros, there are also coverages available for other types of cars and mishaps such as:

    • Truck Insurance
    • Passenger Transportation
    • Motorcycle Insurance
    • Tourists
    • Reduction of Deductible
    • Adaptations and Conversions (for transportation designed for cargo that needs adaptations to fulfill this purpose).
    • Special Equipment (additions made to the vehicle, accessories, signs installed by you or by the dealer, which need specific coverage)
    • Trailer RC Insurance
    • Coinsurance in Material Damage Coverage
    • Coinsurance on Total Theft Coverage
    • Organic losses
    • Home help

    By engaging in other lines of business besides automobiles, General de Seguros also offers coverage for the following lines of business and insurance:

    • Life insurance
    • Health
  • Cars
  • Damage
    • Home
    • Business
    • RC for shops and / or companies
    • Sedesol children's stays
    • Transport
    • Planes
    • Boats
  • Agricultural
    • Agricultural
    • Animals
  • In total, General de Seguros has 74 contracts found in the Contract Registry of Insurance Adhesion (RECAS) of the Condusef, of which 7 are focused on the Automobile branch.

    2. Information on General Insurance

    2.1 General Information

    General de Seguros is founded in Mexico in 1971, after the acquisition of Aseguradora de Crédito, SA, whose name was changed and authorization was requested to operate the Personal Injury and Accident lines.

    In subsequent years, its operations grew to include Life and Agricultural Insurance; They founded a second arm called General de Salud and were listed on the Mexican Stock Exchange.

    Some information about the insurer:

    Countries in which it operates

    General de Seguros has a network of branches and representative offices throughout Mexico, and business relationships with reinsurers in Germany, England, Ireland, Switzerland, the United States, Spain and France.

    Number of clients and / or volume of premiums (total business)

    In your Report on Solvency and Financial Condition 2017 , General de Seguros reports having issued 653, 627 policies in all branches.

    Ranking in the Mexican insurance sector

    In all branches, General de Seguros has a 0. 58% market share (site 26 of 98 in the ranking). In the automobile industry, General has a market share of 1. 24% (position 14 of 28), according to the statistics of the Mexican Association of Insurance Institutions (AMIS) at the close of 2017.

    2.2 General de Seguros financial information

    The main financial indicators of the insurer are the following:

    General insurance combined technical ratio

    The Combined Ratio (also known as the Combined Technical Ratio or Combined Index) is the operating result of each insurer.

    The Report on Solvency and Financial Condition 2017 of General de Seguros mentions that its technical ratio was 100. 3% for all branches and from 113% in Automobiles.

    Billing, cost per claims and loss ratio of General de Seguros

    According to AMIS statistics, at the close of 2017 General de Seguros had a turnover of 2, 759 million pesos in all branches; while the cost per claims was 2, 90, 580 millions of pesos; Therefore, the accident rate was 76%.

    For the automobile branch, the claims totaled an amount of 974 million pesos and the index of 76%.

    Financial valuation of General de Seguros

    General de Seguros is rated by two rating agencies, shown below:

    • AM Best
      • Financial Strength Rating B (Good)
      • Credit Rating Long Term Issuer (ICR) bbb
    • Fitch
      • 'AA (mex)' (Stable)

    2.3 Information on the quality of care from General de Seguros

    At GUROS we use different official bodies to measure the quality of claims service from each of the insurers we work with. These are the ratings that General de Seguros has received:

    User Service Performance Index (Condusef)

    While in the User Service Performance Index of 2017 in Automobile Damage, General Insurance has a rating of 8. 58, which puts it in place 14, just above the average of 8. 43 obtained among all insurers.

    Claims before the Condusef

    During 2017 received a total of 134 claims before the Condusef in the Auto Branch, which represent the 57% of all claims you received in the year (234).

    Although the Condusef does not specify the reasons for the 134 claims in the car industry, it does mention that in general, of the 234 Most claims were for Negative in the payment of compensation (48%), Request for cancellation of the contract and / or policy not attended and / or not applied (4%) and Disagreement with the time for payment of compensation (10%).

    Claims submitted on total claims attended

    The 134 Claims were generated from 71, 810 claims attended to in Automobiles in 2017, so the claims ratio for claims is barely 0. 18%.

    Sanctions imposed on General Insurance

    During 2017, in In the Auto branch, the Condusef did not apply a single sanction to General.

    Average valuation to adjusters

    In the Condusef portal, General only has one evaluated adjuster, with a rating of 6.7 (the average is 4.2).

    2.4 Aggregate values ​​of General de Seguros

    Next, we leave you the main added values ​​that General de Seguros offers for auto insurance:

    • Months without interest
    • Prestige coverage with greater benefits
    • Life Insurance on all packages
    • Roadside and travel assistance in all packages
    • Protection before assault on prestige and wide packages
    • 6-month payment without interest with CitiBanamex cards
    • Home assistance
    • Own workshop network
    • Mobile app

    Based on the different products it offers, General de Seguros has two mobile applications for its users: one focused on Health and the other called Valor GS Seguros, focused on its customers in the automobile industry.

    Once you register your policy in the application, the following actions can be carried out:

    • Make a claim report
    • Review the Policy data
    • Request Roadside Assistance
    • See the status of the Repair
    • Meet Workshops and Windows

    This application is available for the operating systems iOS and Android .

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