Specialist Import Car Insurance

Import car insurance can cost you three times as much as domestic coverage, so it pays to do your homework when looking for providers. Unfortunately, most mainstream companies won't cover modified or so-called "grey" imports, which they leave to specialist insurers. Let's take a look at some of the issues that make imported cars so expensive to insure, some exceptions, and some ways to lower your premiums.
There are two main types of insurance for imports. Grey import car insurance covers vehicles that necessarily have to be imported. They don't have domestic distributors, nor do their replacement parts. This make repairs costly, which has a direct bearing on the cost of your policy. They're also considered "grey" due to their lack of EU certification with the European New Car Assessment Programme. This does not mean they're substandard, or deficient in any way; it's just that they've never been submitted for testing, since these cars were intended to meet the regulations of their country of origin, which is typically Japan. Japanese imports more often than not have highest specifications than vehicles from the UK or Australia.

Parallel import car insurance covers cars which may or may not actually be imported. They're "parallel" in the sense that some are brought from overseas, while others are available directly from local distributors. If the latter is the case, you may not have to go through a specialist after all, which can bring your coverage costs in line with what you'd pay for a domestic vehicle-assuming you keep any modifications to a minimum. Modified car insurance almost always more expensive, regardless of where the cars come from.
As Japan is the source of most imported vehicles, Japanese import car insurance is bread and butter of specialist insurers. Because Japanese regulation is typically stricter than just about anywhere else in the world, many motorists believe that Japanese cars are still more economical in the long run to own than domestic cars, even with higher parts costs and VAT premiums. When I lived in New York, I once knew a Japanese mechanic who lived in NY for years despite finding it unsatisfying. When I asked why he stayed, he told me that he wouldn't have anywhere near as much work in Japan.

How can you minimize the cost of import car insurance? First, get several quotes on the internet (which isn't difficult unless it's a modified car), and send them via fax or email to agents immediately prior to contact them over the phone, then ask them if they can compete with what you've sent. Unfortunately, a modified import car insurance quote is usually something you have to ask for over the phone, since you'll be asked to described the nature of the modifications in detail. But that should stop you from being able to compile a few a couple of quotes in this manner, then sending them to the next agent to ask for a better offer.

Second, if you have a garage for overnight storage, mention it. This can save you up to 5% on your premiums. Third, avoid adding young drivers to the policy. The youngest driver to be covered will set the baseline cost of the coverage. Fourth, as mentioned earlier, don't add any modifications if you can avoid it, especially if the car doesn't come from a domestic distributor. Finally, add one or more security devices to the vehicle, whether it's a car alarm or a steering wheel lock. Every security aid helps.
These are a few ways to save enough on import car insurance to make your unique, well-built vehicle a great long-term investment.