Imported Car Insurance

car insurance for imported cars

Save money on import car insurance

Car insurance providers are in the business of risk. They evaluate how significant a risk you pose, as well as the risk that your car poses. This is how an insurance company decides how much you will be paying them in premiums. However, when you are talking about insurance for imported vehicles, you may end up facing prices for coverage that you have never seen before. This is because insurance providers often cannot be completely sure of the risk that an imported car will present. While you can save money by importing a vehicle, you should take care that you do not make up for this savings by being overcharged on imported car insurance.

Insurance Company Concerns on Imports

It is harder for an insurance provider to estimate how much they will have to pay on imported car insurance claims in the event that you must make a claim on your car for repairs or replacement parts. The components used to repair imported cars can be more difficult to find and often cost more than parts for domestic vehicles. Depending on where your vehicle was imported from, your insurance company may also find concerns regarding the car’s quality standards. For instance, a Japanese car might not meet the EU standards.

Importation Methods

There are two types of importation that cars can come in by. Parallel importation is a clear cut issue for insurance providers. These have their steering wheels on the right-hand side, just as UK cars do, and tend to have been imported from European countries. These comply with EU standards. This fact makes it quite easy to obtain imported car insurance for these vehicles. Grey importation, however, involves car that were not built with EU standards in mind and have not been approved by the EU. As a result, grey imports can be much more difficult to obtain insurance for. When you are trying to obtain grey imported car insurance the import car insurance company that you are seeking insurance through will require extremely detailed information about the car before they can provide you with an accurate quote.

Finding Cheap Car Insurance for Imports

You may have to get in touch with specialist insurance providers to obtain a good policy for your imported vehicle. By doing this and shopping around among insurers for imports, you can find a great deal on your premiums. Some insurance providers to not make a distinction between right- and left-hand steering wheels when they take everything into consideration to provide you with quotes. Provided that the car has not been otherwise modified, which side the steering wheel is on may not matter at all. Consider using an online comparison site to find an affordable import car policy. You don’t have to settle for the providers in your location – you can compare quotes from a wide variety of companies by comparing online.

Ways to Make Your Premiums Cheaper

One of the best ways that you can bring your imported car insurance premiums down is by having some security features installed in your imported car. Unlike other modifications, these can actually save you money. Many cars now come with an alarm as a standard feature. While these are great for deterring some would-be thieves, you might need more, particularly if your imported car is very valuable. Consider having an immobiliser or lockdown mechanism installed to make it more difficult for a thief to get away with your car. A GPS locator device can be activated in the event that you car is stolen, allowing the authorities to located it almost immediately. With good security features, you can put away a little more of the worry that comes with car ownership.