If you have purchased or planned to purchase an imported car, getting the vehicle insured is a priority. However, insuring an imported vehicle can be difficult, frustrating and expensive. But, it?s not impossible. Just be prepared to work hard, ask questions and possibly 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 insurers will cover an imported car as long as they locate the VIN numbers. If they cannot locate this registration number, then it is up to you to see if they can find the exact model your car in their look-up table. If that doesn't work, you will have to see an agent for another company.
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.
Also, some companies will not insure imported vehicles that are European versions of a UK car, with a left-hand drive, the idea being that if you wanted that model, you should have bought it with a right-hand drive to drive in the UK. That is another thing to keep in mind as you import your vehicle and get your insurance.
It is also very important to check your security fittings. These could have a great impact on your vehicle's eligibility for coverage, not to mention the cost of the policy. Not having the right security fittings will either raise your premiums dramatically, or cause the company to reject your car for coverage altogether. Make sure you get detailed information on security fittings before you import your car.
While insuring your import may be time-consuming and expensive, it's not impossible. Do your research. Ask Questions. Call your importer and ask for their advice for obtaining insurance. And if you are importing a sports car, you can often get insurance at a discounted rate simply by joining a car club. Clubs often make deals with insurance companies for their members?ask about the benefits available to you. Finally, make sure you get comprehensive coverage for your imported vehicle. You imported car is an expensive investment, and it needs thorough insurance protection.
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 insurers will cover an imported car as long as they locate the VIN numbers. If they cannot locate this registration number, then it is up to you to see if they can find the exact model your car in their look-up table. If that doesn't work, you will have to see an agent for another company.
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.
Also, some companies will not insure imported vehicles that are European versions of a UK car, with a left-hand drive, the idea being that if you wanted that model, you should have bought it with a right-hand drive to drive in the UK. That is another thing to keep in mind as you import your vehicle and get your insurance.
It is also very important to check your security fittings. These could have a great impact on your vehicle's eligibility for coverage, not to mention the cost of the policy. Not having the right security fittings will either raise your premiums dramatically, or cause the company to reject your car for coverage altogether. Make sure you get detailed information on security fittings before you import your car.
While insuring your import may be time-consuming and expensive, it's not impossible. Do your research. Ask Questions. Call your importer and ask for their advice for obtaining insurance. And if you are importing a sports car, you can often get insurance at a discounted rate simply by joining a car club. Clubs often make deals with insurance companies for their members?ask about the benefits available to you. Finally, make sure you get comprehensive coverage for your imported vehicle. You imported car is an expensive investment, and it needs thorough insurance protection.
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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