While goods travel along increasingly congested and dangerous highways, cargo insurance is still progressing slowly in the country. Although Mexico is considered one of the most important markets for cargo insurance in Latin America, only 4% of goods transported by road are insured , according to Esaú Mendoza Hernández, Business Development Director at Keeper Cargo Insurance .
Mendoza Hernández commented that the problem lies not only in the theft of goods, but in the entire ecosystem of risks surrounding freight transport in Mexico.
Speaking from Guadalajara, he warned that states like Jalisco and Guanajuato have climbed the ranks among the hotspots for cargo theft. Jalisco moved from seventh to fifth place nationally, while Guanajuato now ranks third.
Added to this is the operational pressure derived from infrastructure works , port saturation and traffic in strategic corridors for the movement of goods.
This situation, he explained, not only impacts logistical times, but also increases the exposure of the units to theft and raises the physical strain on the operators.
According to the specialist, one of the most concerning phenomena today is armed robberies in storage yards where sensitive merchandise, such as electronics or clothing, is kept while awaiting transfer or shipment. But the risk doesn’t end there. Mexico ranks seventh in the world for traffic accidents, and approximately 30% to 35% of those accidents are related to freight transport, explained Mendoza Hernández. Furthermore, roughly 85% of accidents are attributable to factors related to the operation of the vehicles.
He indicated that the problem is structural : operators subjected to long lines at ports, hours stopped in traffic, operational delays and extended workdays end up increasing the probability of accidents and incidents.
The legal loophole that leaves cargo unprotected
Beyond the insecurity, the sector faces the challenge of a lack of insurance culture .
Mendoza explained that, under Mexican law, if the cargo value was not correctly declared on the Bill of Lading or transport contract, the carrier’s liability can be limited to as little as 15 UMAs per ton transported. This means that a company that loses merchandise valued at thousands of dollars could receive minimal compensation .
Given this scenario, he asserted that the main challenge for the insurance sector remains promoting a culture of prevention and financial protection , particularly among small and medium-sized enterprises (SMEs).
He explained that SMEs often consider cargo insurance to be expensive. However, he indicated that the average cost of cargo insurance currently represents less than 1% of the value of the transported goods.
“The problem is not just theft; it’s that a disaster can completely bankrupt a small business,” he stressed.
Mexico under the international microscope
The perception of risk regarding Mexico is already beginning to impact even international insurance policies.
According to Esaú Mendoza, some global insurers have begun to impose higher deductibles or specific limits when goods transit through Mexican territory, due to the levels of theft and accidents.
In some cases, he said, international companies require carriers and freight forwarders to assume direct responsibility for thefts and damages occurring in Mexico as a condition of working with them.
Currently, Mexico faces a shortage of approximately 99,000 freight operators, while the country registers around 150 million journeys per year between local, national and international operations, according to estimates shared by the specialist.
Despite the size of the market, he asserted that there is still a huge gap in assurance and prevention within the logistics chain.
Mendoza Hernández also pointed out that, although there are around 15,000 registered insurance agents in Mexico, only a very small group actually specializes in cargo and logistics risk insurance.
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