The main purpose many people are now beginning to import cars is to find a way to save money on the purchase. The unfortunate part is the fact that your car insurance and premiums are not going to be as cheap as you though. Import car insurance will be increased more than you think.
As far as importing goes, the best kinds to import are Japanese. They are better all around as they are a better deal and you will get a great product for the price you pay. Their specifications are higher as well. You should keep in mind however that some cars are not built to certain standards for different parts of the world.
The amount of money you can expect to pay for car insurance can depend on a few different things such as the group of import you have. There are two groups, one is the ‘grey imports’ and the other are ‘parallel imports’.
Another thing to keep in mind about import car insurance is that the cost of repairs for the cars can get expensive really fast. Repair costs are beginning to rise and many people are having a hard time repairing their cars. There are many import cars that require you to order special parts from overseas and this can also hike up your repair cost. Import cars are not cheap and the maintenance and repairs are the same way.
Tips to Reduce Import Car Insurance
Parking Off the Road
For those of you who do have a garage, a great way to save on your insurance premium is to start parking your car in the garage instead of in the driveway or n the side of the road. This can save you an average of about 5%.
Sports Cars
As nice as sports cars can be and look, they are a sure fire way to hike up your insurance through the roof. You can save money by steering away from sporty cars or cars that are high performance.
Number of Drivers
This can be another way to save on your import car insurance. Think about the number of drivers you are planning on having on your policy. Some insurance companies offer discount to policies that have multiple drivers added.
Higher Excess
Another great way to save is by paying an excess that is a bit higher. This helps to reduce the amount of your premium.
Modifications to Your Car
Also, you should not modify your vehicle. This is another way to hike up the insurance premium. It will only make things more expensive to get insurance for and more difficult.
Security Features
You can also add security devices to your car to help lower insurance cost. This can save you as much as 8% off of your premium cost.
Shop Around
The major way to help save on import car insurance is to shop around other companies. Do some shopping around online at different comparison sites that allow you to see more than one quote from different companies. You should also do some local looking for example in the phone book. Sometimes there are local insurance companies that can help you get a great deal on insurance for your import. If they can’t they may be able to tell you where the best place to go is.
You may run into some companies that won’t insure your import as they like to stick to mainly the mainstream of vehicles. If you run into this problem, you will have to do some major searching around online to see what type of companies will insure your car. There are companies out there you just need to know where to look.