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When traveling in Mexico it's important to remember the legal system is different than in the United States. As in the U.S., the possibility exists of being involved in an accident. The Mexican Government treats these accidents seriously; under Mexican Law, they are considered both civil and criminal offenses. It is a felony, not a misdemeanor.
It's interesting that most of us buy insurance on our cars, homes and lives in the U.S. with a great deal of care and consideration. However, when we visit Mexico, we seem to forget the need for this important and legally required coverage and casually purchase it at a drive-in agency at the border as a last minute decision. At this point, sometimes a last minute decision can be a rushed decision and a bad decision.