Are you planning to purchase an imported car, or have you bought one already? Insuring an import often is a frustrating and expensive process?but it's not impossible. Just be ready to do some research, ask questions, and probably contact several insurance providers.
While you can often get a good deal on the purchase of an imported car, you may lose the money you save on the purchase price by having to pay higher insurance premiums. That's why you should shop around and get several quotes to find the most competitive rate. If you are importing a sports care, you almost certainly will pay more for coverage. That's because sports cars are more prone to crashes.
Most insurance companies will insure an imported car as long as they can locate the car?s registration number. If they cannot locate the registration number, then see if the insurance company can find the exact vehicle model in the company look up table. If that does not work, then see another insurance provider.
Some companies only insure the most popular models of imports. They may only insure them for market value, not replacement cost. Other companies will write policies for modified vehicles, but only as long as the modifications are not significant. If you make substantial modifications to your imported car, then you will have to find a carrier that specializes in import cars. "Substantial" means different things to different companies, and sometimes small differences in the work on your car can make big differences in the price you are quoted. That's why it is important to ask around and to ask lots of questions as you get your insurance quotes.
In addition, some insurance providers will not insure imports that are European versions of a UK car, but with left hand drive. This is something to keep in mind when importing a car and trying to obtain an insurance quote.
It is very important to check your import?s security fittings. This could impact the vehicle?s eligibility for coverage, as well as the cost. Not having proper security fittings can either raise the insurance premiums dramatically, or cause the provider to refuse to insure the vehicle. Make sure you get detailed information on the vehicle?s security fittings prior to having the vehicle imported.
It's true that finding the right policy for your imported car is usually a chore, but it is not impossible. Research, and ask questions. Get your dealer to give you advice. Ask your insurance provider if joining a club or organization of imported car owners will get you a lower rate?often times insurance companies may special deals with organizations of imported car owners. Make sure you get all the breaks that due to you. Finally, make sure you purchase comprehensive insurance for your vehicle. It's an expensive investment, and you want it fully covered.
While you can often get a good deal on the purchase of an imported car, you may lose the money you save on the purchase price by having to pay higher insurance premiums. That's why you should shop around and get several quotes to find the most competitive rate. If you are importing a sports care, you almost certainly will pay more for coverage. That's because sports cars are more prone to crashes.
Most insurance companies will insure an imported car as long as they can locate the car?s registration number. If they cannot locate the registration number, then see if the insurance company can find the exact vehicle model in the company look up table. If that does not work, then see another insurance provider.
Some companies only insure the most popular models of imports. They may only insure them for market value, not replacement cost. Other companies will write policies for modified vehicles, but only as long as the modifications are not significant. If you make substantial modifications to your imported car, then you will have to find a carrier that specializes in import cars. "Substantial" means different things to different companies, and sometimes small differences in the work on your car can make big differences in the price you are quoted. That's why it is important to ask around and to ask lots of questions as you get your insurance quotes.
In addition, some insurance providers will not insure imports that are European versions of a UK car, but with left hand drive. This is something to keep in mind when importing a car and trying to obtain an insurance quote.
It is very important to check your import?s security fittings. This could impact the vehicle?s eligibility for coverage, as well as the cost. Not having proper security fittings can either raise the insurance premiums dramatically, or cause the provider to refuse to insure the vehicle. Make sure you get detailed information on the vehicle?s security fittings prior to having the vehicle imported.
It's true that finding the right policy for your imported car is usually a chore, but it is not impossible. Research, and ask questions. Get your dealer to give you advice. Ask your insurance provider if joining a club or organization of imported car owners will get you a lower rate?often times insurance companies may special deals with organizations of imported car owners. Make sure you get all the breaks that due to you. Finally, make sure you purchase comprehensive insurance for your vehicle. It's an expensive investment, and you want it fully covered.
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
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