No, Mexican aduana will not care whether you have insurance. You probably want it for your own sake, however. You can save a bit of money by buying it over the internet in advance and printing the paperwork somewhere.
Mexico does not care whether you've got travel insurance either, and you don't need multiple copies of anything or an international license (IDP). Like your Mexican insurance, you may carry this stuff if you want. Some of it will come in handy sooner or later. If you're like me, all your photocopies will be waterstained and shredded before anyone ever asks for them.
Really, it's very simple: you need a bike registered to yourself, a passport, a driver's license. VIN numbers should match the bike. There should be no glaring inconsistencies between passport and license. The rest is irrelevant (to Mexico aduana). Even your license plate ("tabs") can be printed by hand on cardboard, although this is not advisable.
Have fun, and always double-check advice received from strangers over the internet, no matter how compelling it sounds!
Mark
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