If you are planning to purchase, or if you have already purchased, an imported car, getting the vehicle insured so you can get it on the road is a top priority. However, finding coverage for your import can be time-consuming, frustrating, and expensive. But it's not impossible. Just be ready to ask questions and possibly contact several insurance agents to get the coverage you need.
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.
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 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.
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 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.
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 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.
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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