Health Insurance in Mexico: Selecting an Agent / Agency or Company
Some shopping is simple, like grabbing essentials from a local grocery store.
Shopping for things like insurance can be much more challenging, especially if it is for insurance in a different country.
There is a lot that goes into selecting insurance, and a lot potentially riding on a bad insurance decision.
So how do you know where to begin? How do you know what coverage options are best for you? And most importantly, who can you trust to ensure that you, your spouse, or family, are properly protected?
At Mexico Insurance Advisors, we’ve been in the business since 2013, so we know a lot about all of the companies and agencies you have to choose from. We are here to help you determine which is best for you.
You may be wondering why an insurance agency is writing about how to choose an insurance agent / broker / agency when they could instead be using their efforts to convince you that they are the BEST choice?
Well, to be honest, we know we aren’t the only choice and we’re not pretending to be. Don’t get us wrong, we feel very strongly about our mission, service, and offerings and recognize that we are a great solution for many people, but others may have priorities that don´t match what we offer.
Instead of wasting your time with a company who isn’t right for you, we want to help guide you to the right company for you (and if it happens to be us, then that’s a great bonus!).
When selecting an insurance agency, you want to make sure they check all your boxes and align with whatever is most important to you.
First, when buying insurance, there are three main entities you can buy through, all with their unique pros and cons.
Direct Writer Insurance
A direct writing insurance company is a company that provides online or over the phone quotes, but doesn´t necessarily work through an agent or agency.
Generally, these are well-known companies who provide quick and efficient quotes and insurance application services.
Captive Insurance
A captive insurance agent represents only one insurance company and can only offer the plans that their particular insurance company offers. Those who are looking to work with someone local, but who represents a nationally known insurance company may be interested in a captive insurance agent.
Independent Insurance Agent / Broker
Independent insurance agents (also referred to as brokers) represent multiple insurance companies and can provide multiple quotes. Independent insurance agents usually have access to quotes from just about every company offering health insurance.
Independent agents can offer a variety of quote options to match your specific coverage and budget needs.
Here are 7 things to look for in an insurance agent / agency:
1. Convenience (hours of operation/location/speed/communication):
In today’s fast paced world, convenience is everything.
If you want to be sure your insurance issues are being resolved efficiently and effectively, you probably want to evaluate the hours, location, and processes of the insurance agent or company you are considering working with and decide how important these factors are to you.
Hours:
When is the company open for business? Do they take calls 24 / 7? If not, do they have an after-business hours line?
Location:
Is the company virtual or do they have offices? Which is most important to you? Will you be interacting with their representatives in-person, online or over the phone?
Online capabilities:
Do they have social media accounts through which they use to interact with customers? Do they have a mobile app? Can you view your policy details or account online? Can you get an instant quote online? Do they have an online chat?
Communication methods:
How will you reach out to your agent during the application process and afterwards? Will your agent be attending your service needs after your purchase? Does she only offer phone support, or is she also available through email, online chat, Zoom, WhatsApp or FaceTime?
2. Responsiveness:
We all know how frustrating it can be to be given the run-around, especially during a stressful situation.
When shopping for insurance, you should look for an agency or company who is always available to help you and who gets back to you in a timely manner.
If you experience a delay in their initial response time, it is usually an indication of what you can expect of them in the future.
Consider these things…Does the company you are considering have a call center or automated phone system? Do agents call back in a few hours or in over 24 hours? Will you be assigned to one agent, or be juggled by multiple agents or staff members?
3. Experience:
Before confiding in a company / agent / agency to manage your health, you want to make sure you can trust them.
When researching an agent / agency, consider how long they’ve been in business, what credentials they have, how many companies they represent, their ability to speak Spanish and understand the Mexican insurance / health care culture, as well as their experience in the industry.
4. Reputation:
What agents / agencies say about other professionals in the industry and insurance companies says a lot about what you can expect if you decide to work with them.
Has the agent / agency received any customer service awards or community recognition?
Seek referrals from friends, neighbors, and consultants or read online reviews to vet any agent or agency you decide to work with.
While you can’t trust all online reviews, reading them will help give you an idea of the overall reputation of the company.
Make sure the company’s mission, vision, and values align with yours and that they are involved in the community, if that is important to you.
5. Coverage Area:
The goal in acquiring insurance is to obtain the right coverage. Make sure the agent / agency you choose asks about your specific coverage area needs. Will you need Mexico and US / Canada coverage? Are you just looking for health insurance in Mexico?
Be aware that coverage area is ONLY one factor which impacts price, not the determining factor.
If you are looking for the most affordable plan, it is best to express this need.
6. Health Benefits:
Health benefits and corresponding, maximum benefit amounts are extremely important. A good agent / agency will educate you about how health plans are structured and review all health benefits and coverage amounts. Make sure you communicate your health benefit needs. For example, will you need maternity benefits? Are preventative health and other reimbursable $0 deductible health benefits important to you?
If an insurance agent you are considering sends you quotes without consulting with you, it may be an indicator to look elsewhere.
Working with a good agent / agency includes offering you a comparative analysis review of several health plan options within your price range. Agents / agencies should offer this service for free if you are going to apply for health insurance in Mexico within the next few months. It can be a great solution to help you find the best health plan in Mexico.
7. Price:
I know many times in life, it makes sense to go with the cheapest option. However, in many cases, you get what you pay for, especially with insurance.
If you are simply looking for the cheapest option, you probably aren’t going to get the coverage you need. Some agents / agencies will quote products at the lowest price in hopes of simply closing a sale.
If you have a tight budget and simply want the lowest price, one of the health plans in Mexico might be right for you, but if you prefer GOOD PROTECTION, it makes more sense to request the best coverage at the lowest price.
Ask for quotes from several companies and compare health benefits and coverage.
If the plan comparison seems overwhelming, ask the agent for a formal presentation and analysis of the health plan options. If the agent doesn´t reply or isn´t able to meet the request, find an agent who will.
7. Offerings:
While some people just want an insurance agent they only hear from once a year when renewing their policy, others prefer their agent to be an ongoing resource, advocate, and guide.
For example, at Mexico Insurance Advisors, we offer additional resources to our clients such as FREE tools and advice on doctors and hospitals as well as how to get positive use out of your health insurance plan in Mexico. We also help our customers who have health insurance complaints and claim dissatisfaction.
Some of our clients really value this about us and cite it as the reason they have stuck with us for many years.
If these things aren´t important to you, exclude them from your evaluation process. However, if they are, you might want to look for a small, independent agency that brings more to the table than direct writer companies or agents / agencies that are primarily sales-driven.
Make your agent / agency choice a priority:
We hope this article has provided you with an understanding of some of the important elements to prioritize in your search for a health insurance agent / agency in Mexico.
One final consideration is that in Mexico, health insurance and health care work differently than in other countries. Any agent / agency you choose to represent you should demonstrate fluency not only in Spanish, but in Mexican insurance language, and hospital administration.
Has your agent / agency explained what you can expect when using your health insurance policy? Has he reviewed what to do in a medical emergency in Mexico?
