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Tokio Marine Auto Insurance: everything you need to know

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Tokio Marine Auto Insurance: everything you need to know

Choosing the right auto insurance is a major challenge; however, having the right information can make it much easier.

The importance of making the right decision lies in the magnitude and the impact that it can have on your life, both for the well-being of your vehicle, as well as legal and physical safety and health repercussions for you and your companions.

Try to choose well and you will have a much needed peace of mind for yourself as the owner. Make the wrong choice and you may suffer unnecessary stress and inconvenience.

You must take into account all the variables and factors that influence the level of service of your auto insurance, which allows you to feel comfortable and covers all your needs.

To help you in this decision, at Guros we have put together a mega guide with the most important data on auto insurance from various insurers in Mexico, so that you can choose with all the information in hand, the best auto insurance for your vehicle and your needs.

In this guide, we have reviewed key features of auto insurance from various insurers. Even some that you might not have stopped to think about, from the type and use of vehicles it insures, its financial information, the level of quality of its customer service and claims. And, of course, the price and the forms and methods of payment they offer.

The sum of all these factors is vitally important in finding the best auto insurance for your budget and particular situation.

During this occasion we bring you all the information regarding Tokio Marine Compañía de Seguros, subsidiary in Mexico of Tokio Marine & Nichido Fire Insurance Co., Ltd., a Japanese company that is within the Top 10 from insurance companies around the world.

1. Tokio Marine Auto Insurance

1.1 Types of vehicles for which Tokio Marine offers auto insurance

Tokio Marine offers its resident car insurance in co-insurance with Quálitas, so it offers you basically the same conditions as the Mexican company; In this case, the protection is for the following types of vehicles:

  • Automobiles
  • Pickups
  • Cargo trucks

1.2 Uses of vehicles insured by Tokio Marine

The use that we can give to the insured vehicles is the following:

  • Private
  • Load

1.3 Tokio Marine Auto Insurance Packages and Coverages

Tokio Marine auto insurance offers you the same coverage packages as Quálitas auto insurance, that is, Comprehensive, Limited and Civil Liability. It is worth mentioning, these are the most common packages and offered in all insurers.

In this table you can see what are the concepts that each of these packages covers.

Tokio Marine rating of compulsory insurance

9. 05 Position 7 of 23

Unlike Resident Auto Insurance, in the case of Standardized Basic Insurance, Tokio Marine does offer its own product, which in this case, has a rating of 9. 04, which places Tokio Marine in position 7 of 23 insurers evaluated in this product, which meets the requirements of Compulsory Civil Liability Insurance.

1.4 Deductibles and insured amounts of Tokio Marine auto insurance

The amounts that each package covers (if applicable) and the deductible that you must cover if necessary, are as follows.

1.5 Tokio Marine car insurance general conditions:

In addition to the information that you will see in this guide, it is a good idea to take a look at the general conditions of the products offered by insurers to be able to foresee the scenarios that we could live with our auto insurance.

To see the general conditions of the auto insurance offered by Tokio Marine, click here.

1.6 Tokio Marine auto insurance quote for the 10 best-selling vehicles

Whether you're thinking of getting a car or already own one, chances are it's one of this list of the 10 best-selling models from Mexico during 2018.

To make life easier for you, at GUROS we undertook to quote the cost of Tokio Marine auto insurance for these vehicles.

We called the insurer and they told us that, being a coinsurance with Quálitas, they handle the same rates, which are the following:

We take the Zip Code 06600, of Colonia Juárez in Mexico City as a reference, both for the Comprehensive and Limited packages, while for the Civil Liability insurance is taken by the federal entity (Mexico City) for the cost.

1.7 Claims telephone number and Tokio Marine Roadside Assistance

If you must report a claim to Tokio Marine, you must contact the following numbers:

  • Lada free of charge: 01 800 2286 546
  • In Mexico City: 01 55 5278 2190

1.8 Other insurance and coverage offered by Tokio Marine

In addition to automobiles, Tokio Marine offers insurance in other operations and branches, among which the following are listed:

  • Damage
    • Fire
    • Various technical and miscellaneous
    • Earthquake
    • Transport
    • Responsibility
  • Life
  • Personal accidents

The Condusef's Registry of Insurance Adhesion Contracts (RECAS) lists all the contracts that insurers have for the different products they offer; In the case of Tokio Marine, there is 39 services and / or products in general in all operations and branches; of which, four are for automobiles.

2. Information about Tokio Marine

2.1 General Information

Tokio Marine Compañía de Seguros is a Mexican subsidiary of Tokio Marine & Nichido Fire Insurance, a Japanese company with almost 150 years of history.

They inaugurated their operations in Mexico in 1972, as a reinsurer for Japanese investors settled in Mexico. From 1994, Tokio Marine Insurance Company is formally founded.

Some interesting facts about the insurer:

Countries where it operates

As such, Tokio Marine Compañía de Seguros operates in Mexico; Tokio Marine & Nichido Fire Insurance has operations in Japan, China, Singapore, Thailand, United Kingdom, United Arab Emirates, United States, and others 14 countries.

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

According to the Solvency and Financial Condition Report 1994 of Tokio Marine Insurance Company, during that year they issued policies for 253, 976 insured in total; of which 6, 175 were for auto insurance.

Regarding the value and volume of written premiums, in all operations and lines it was $ 976. 39 millions of pesos; while for cars the amount is $ 16. 25 millions of pesos.

Ranking in the Mexican insurance sector

According to the statistics of the Mexican Association of Insurance Institutions (AMIS), during 1994, the ranking of Tokio Marine in the Mexican market was:

  • All operations and lines: Position 46 of 84 insurance companies, with 0.2% of the market in Mexico.
  • Cars: Position 29 Come in 33 insurance companies, with 0.2% of the Mexican market.

2.2 Tokio Marine financial information

The financial information of an insurer is an important piece of information, as it can tell us where the insurance company's rates are going. Well, if they lose money, the normal thing is that it goes up in the branches that do it the most.

Tokio Marine combined technical ratio

The Combined Technical Ratio (which can also be called Combined Ratio or Combined Index) shows us the operating results of each insurer, obtained based on the sum of the average loss, acquisition and operation cost indices.

In the case of Tokio Marine Compañía de Seguros, the Solvency and Financial Condition Report shows us that the total Combined Technical Ratio was 88. 7%; while in Automobiles it was barely 78. 6%.

Turnover, cost per claims and loss ratio of Tokio Marine

Billing

Total turnover of Tokio Marine Insurance Company during 2017 was $ 976. 38 millions of pesos; while the total loss ratio reached $ 199. 04 millions of pesos.

In the automobile branch, the turnover was $ 16. 25 million pesos, and the loss ratio was $ 7. 36 millions of pesos.

The accident rate is 55. 5% in total, and of 53. 5% on cars.

All data are contained in the Solvency and Financial Condition Report of .

Financial valuation

Tokio Marine Insurance Company has a positive financial rating of 'A ' on a global scale, granted by Standard & Poors Global Ratings.

2.3 Information on the quality of care of Tokio Marine

Regarding the level of customer service, it is another of the fundamental aspects when looking for auto insurance. To give you complete, timely and accurate information, Guros uses sources from different official bodies to review and ensure the quality of care for the policyholders of each insurer.

In this sense, the results of Tokio Marine are as follows:

User Service Performance Index (Condusef)

There is no information available on Tokio Marine in the User Service Performance Index for automobile damage; However, Quálitas, with whom he has coinsurance, occupies the position 28 of 79 insurers with a rating of 6. 64.

Claims before the Condusef

Before the Condusef, Tokio Marine did not receive a single complaint during 1994.

Claims submitted on the total of claims attended

Because you did not file any 1 claims, 651 claims attended during 0%, same case as in the Complaints Index for each 10 thousand claims.

Average valuation to adjusters

Tokio Marine is not one of the 28 insurers that have at least one report evaluated in the Condusef adjuster portal; however, Quálitas, with whom they have co-insurance in resident auto insurance, has an average score of 3.9 out of 05, slightly below the general average of 4.2.

2.4 Added values ​​of Tokio Marine

Coinsurance together with Quálitas

As we already mentioned, Tokio Marine's auto insurance is through Quálitas, a company specialized in the automobile industry.

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