En este momento estás viendo Zurich auto insurance: everything you need to know

Zurich auto insurance: everything you need to know

  • Autor de la entrada:
  • Categoría de la entrada:Dealerships

Zurich Auto Insurance: everything you need to know

Today it is both necessary and mandatory to have auto insurance. Due to the importance of this decision, in ARCA we want to make it very easy for you to consult useful and objective information about all the options for your auto insurance.

That is why we have created a guide to introduce you, first, the different coverages offered by insurers in Mexico. Continuing with the packages available for your vehicle, be it a car, motorcycle or pick up. With the above, we believe that you will be able to choose the best insurance not only for your car, but also for you as a driver and insured.

In this guide you will find information about all the important points in a auto insurance. Among these points to consider are: the price, the level of customer service, the coverage, the valuations before the Condusef and the Financial Entities Bureau … among other relevant data on each insurer.

This time we show you all the information about auto insurance with Zurich, one of the most important insurance companies in the world and with a presence in Mexico since 1984.

1. Zurich Auto Insurance

1.1 Types of vehicles for which Zurich offers auto insurance

First of all, it is important that you know the types of vehicles for which Zurich offers its coverage for car insurance, which are the following:

  • Cars
  • Pickups
  • Cargo trucks up to 3.5 tons
  • Border
  • Legalized
  • Tourists

1.2 Uses of vehicles insured by Zurich

Second, you should consider that Zurich auto insurance covers exclusively those vehicles that meet any of the following:

  • Vehicle exclusively for private use or
  • Commercial use, provided when the vehicle is NOT used as:
    • Public transport vehicle: taxis, private app driver, daily rent.
    • Transportation of public and / or federal personnel.
    • Demo (demo vehicles).
    • Private transportation of people.
    • Use of delivery, courier, freight and removals.
    • Special adaptations that exceed the dimensions of the unit (cranes, mixers, pipes, etc.).
    • Heavy vehicles and motorcycles.
    • Vehicles with residence in the state of Sinaloa.
    • Standardized Basic Insurance maximum age 16 years.

1.3 Zurich Auto Insurance Packages and Coverages

Third, you should know that Zurich auto insurance mainly offers three coverage packages: Comprehensive, Limited and RC. As is common, each of the packages has different accessories to increase the protection of your car.

In both cases, the Compulsory Civil Liability Insurance is already included, although this insurance can also be purchased on its own if you wish.

The coverages of each of the Zurich auto insurance packages are as follows:

For your convenience, in the ARCA Blog we have a very useful comparison between the different auto insurance coverage. We invite you to consult the guide to make an informed decision before choosing the coverage that best suits your needs.

Zurich compulsory insurance rating

8. 74 (Position 9 of 23 insurance companies)

Zurich has a rating of 8. 74 over a maximum of 10 in the Standardized Basic Insurance before the Bureau of Financial Institutions, which places it within the 10 best insurers, ranking 9th out of 23.

1.4 Deductibles and insured amounts of Zurich auto insurance

Zurich offers a level of insured amounts and deductibles similar to the market standards. However, it is possible to configure levels of insured amounts and deductibles higher than the market average in both cases:

1.5 General conditions of the Zurich auto insurance:

If you want to review what the general conditions of Zurich car insurance include, you can do so here .

1.6 Zurich auto insurance quote for best-selling vehicles

If you are just deciding which car to buy and you want to know how much is the price of Zurich car insurance, at ARCA we have taken care of quoting the car insurance for the y himselfe himself best-selling vehicles in Mexico during the year 2017.

For this we enter the Postal Code 06600 of the Cuauhtémoc Delegation in Mexico City as a reference and always for model vehicles 2017 or 2018.

The results obtained are the following:

1.7 Zurich accident and road assistance telephone number

If your car insurance is with Zurich and you want to report a claim, the numbers you must dial are the following:

  • From Mexico City: 279 6911
  • From the interior of the Republic: 01 800 288 6911
  • Remember to follow all the steps of the Car Accident Guide that we did in ARCA. In this way you can minimize the damage suffered in this incident.

    1.8 Other insurance and coverage offered by Zurich

    Zurich Insurance Group is one of the main insurers in the world, so, in addition to auto insurance, it has several products in other lines, among which are insurance for:

    • Home
    • Cyber ​​attack
    • Professional Civil Liability
    • Life
    • Medical expenses
    • Personal accidents

    Before the Register of Insurance Adhesion Contracts (RECAS) of the Condusef, Zurich has 33 types of contracts in general in all branches (of which 8 are for automobiles).

    2. Information about Zurich

    2.1 General Information

    Zurich Insurance was founded in 1872 in Zurich, Switzerland. In 1984 started its operations in Mexico and It also has a strong presence in other Latin American countries, such as Argentina, Brazil, Chile, Venezuela and Colombia.

    Zurich Insurance Group is in more than 210 countries and territories and has more than 58 thousand employees serving more than 35 millions of clients it has around the world. It is one of the 11 insurers more large globally.

    Here are some facts about Zurich in Mexico:

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

    According to your Solvency and Financial Condition Report 2017, this insurer has a total of 690, 313 insured in Mexico. The total volume of premiums generated in the 2017 was over $ 8, 150 millions of pesos.

    Specifically the Automobile line, the total number of insured in 2017 it was of 429, 782 with a turnover of $ 3, 806 millions of pesos.

    Ranking of Zurich in the Mexican insurance sector

    By turnover and level of business, Zurich Damage occupies the place 16 Come in 84 insurance companies in Mexico, with 1.6% of the market at the close of 2017 according to statistics from the Mexican Association of Insurance Institutions (AMIS).

    For the automobile branch in particular, Zurich has 3.7% of the market, ranking 9th among 33 insurers that offer auto insurance coverage in Mexico.

    2.2 Zurich financial information

    According to its own reports, Zurich's financial information is as follows:

    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.

    Their combined index is as follows:

    • 58% – All the bouquets
    • 26% – Automobiles

    This implies that the operating result of this insurer is negative. In other words: your benefit comes primarily from the group's financial returns. The above is applicable for the last year (2017), since in previous years its technical ratio was positive.

    Turnover, loss cost and loss ratio

    Billing

    In its Solvency and Financial Condition Report, Zurich 2017 reported a turnover in Mexico of 8, 143 million pesos in damages, of which 3, 800 million pesos were from the automobile industry.

    Loss ratio

    From the same source it appears that the total cost of claims in the Damage line was 2, millions of pesos. For automobiles, the cost was 1, 713 millions of pesos.

    Zurich reported that its average cost of claims was 65. 24% in general and 65. 10% for automobiles.

    Zurich financial valuation

    The firm Standard & Poors awarded Zurich Mexico has the rating 'mxAAA – Financial Solidness', which places it as one of the insurers with the greatest financial solidity in Mexico.

    389

    2.3 Information on the quality of care

    As we commented previously, in the ARCA Guide for auto insurance we also take into account different sources of information and evaluation from official organizations. This is due to the fact that it is the most transparent way of knowing the quality of service to users of each of the insurers in the sector.

    Here are the results of the quality of care in Zurich in Mexico:

    User Service Performance Index (IDATU) of Condusef

    According to IDATU at the close of 2017, Zurich had a rating of 8. 74, which implies that Zurich has the position 14 of the total of 79 insurance companies evaluated in Mexico.

    Claims before the C ondusef

    During 2017, they presented themselves 656 claims before the Condusef against Zurich in the Automobile Damage line. Due to this, Zurich is the 9th insurer with the most claims in Mexico.

    The reasons for these complaints were:

    • Refusal to pay compensation
    • Disagreement with the time for the payment of compensation e
    • Disagreement with the repair of the affected property

    Claims submitted on the total of claims attended

    However, of those 690 claims came from a total of 124, 763 claims attended during 2017; Zurich was the 11 th insurer with more claims handled in Mexico, with 2.5% of the total for the year.

    This implies that Zurich's claims / claims ratio is 0. 52%. In comparison, other insurers included in this guide have a ratio of 0.9% ( GNP ), 0. 07% ( Mapfre ) or 0.3% ( Quálitas ).

    Consequently, if we take the Claim Index for each 10 thousand claims, Zurich is 52. 57 (according to the methodology of the Bureau of Financial Institutions).

    That is, the result is: (Total Claims before Condusef / Total claims attended) 10, 000

    (656 / 109, 763) 10, 000 = 52. 57

    Sanctions imposed on Zurich in Mexico

    During 2017 the Condusef imposed two sanctions on Zurich: the first for not appear for one hearing and the second for an undisclosed cause. The total amount of both penalties was $ 84, 384. This implies that the sanctions were mild to moderate.

    Average valuation to adjusters

    Zurich adjusters have an average rating of 3.4, based on 22 reports to 22 adjusters. The general average among the rest of the insurers is 4.2.

    2.4 Zurich aggregate values ​​

    Finally, it is important that you know the advantages that Zurich offers:

    • Coverage for auto parts theft.
    • Zero deductible in theft or total loss.
    • Annual, semi-annual, quarterly or monthly payment options .
    • Support for transportation payment.
    • Substitute car.
    • Loss of personal belongings if it occurs due to the claim that is covered in the policy.
    • If your vehicle is Ford, this insurer has an alliance with this company to guarantee the repair only with original parts and spare parts.
    • Expenses Unlimited doctors for under 12 years in case of claim, minors up to 12 years who traveled in the vehicle need treatment or surgery until 90 days after the fact, Zurich will refund the cost.

    Zurich Insurance mobile application

    Finally, it is important that you know that Zurich has two applications for the products it has within the Mexican market:

    • Zurich Mexico: focused on life insurance products, Expenses Senior Doctors and Personal Accidents. Available for iOS and Android .
    • Zurich Connect: Focused on auto insurance services, available for iOS and Android . In it you can do the following:
      1. Report a claim (accident, theft or crystal)
      2. See where there are crystal suppliers
      3. Check the details of the policy
      4. Request assistance vial
      5. Contact the insurer
    • It is also possible to report a claim in the customer portal of your website (which must be registered with the policy details).

    Related Post

    What insurers have the best and worst insurance of …

    Safety for cyclists: 5 basic tips

    La Latino car insurance: everything you need sa …

    Affirm vs AIG, who offers the best auto insurance …

    49519666