Insuring An Imported Car
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.
Keep in mind, while you can get a deal on importing a car, you may lose whatever money you save when you purchase insurance for the car. That is why it?s important to get an insurance quote before you import the car. Shop around and get several insurance quotes in order to get a competitive rate. If your imported vehicle is a sports car, expect to pay more for insurance. That?s because sports cars traditionally cost more to insure simply because they are more prone to accidents.
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 will only offer policies for the most popular models, and then only for market value. Other companies will write policies for modified imported vehicles as long as the modifications are not "substantial." If the modifications are deemed "substantial," then you probably need to find a carrier specializing in substantially modified imported cars. One carrier may rate your modifications are "substantial," while another may not. That's why it can be very important to do you research.
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 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. - 23211
Keep in mind, while you can get a deal on importing a car, you may lose whatever money you save when you purchase insurance for the car. That is why it?s important to get an insurance quote before you import the car. Shop around and get several insurance quotes in order to get a competitive rate. If your imported vehicle is a sports car, expect to pay more for insurance. That?s because sports cars traditionally cost more to insure simply because they are more prone to accidents.
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 will only offer policies for the most popular models, and then only for market value. Other companies will write policies for modified imported vehicles as long as the modifications are not "substantial." If the modifications are deemed "substantial," then you probably need to find a carrier specializing in substantially modified imported cars. One carrier may rate your modifications are "substantial," while another may not. That's why it can be very important to do you research.
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 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. - 23211
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
posted by X - Men @ 12:38 AM
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