How can I reduce the cost of insuring my imported car?

How can I reduce the cost of insuring my imported car?

If you own an imported car, whether it falls under the Parallel Imports or Grey Imports category, you’re probably wondering how to ensure you get a great deal on car insurance. We’ve got some helpful tips and advice to share with you…

Daniel Hutson From the Motor team
3
minute read
posted

What are Parallel Imports?

Parallel Imports are your Peugeots, Volkswagens and Fords. These don’t typically cost much more to insure than a domestic model of the same type.

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Why is import car insurance more expensive than domestic?

The thing about Grey Imports is that it’s harder for the insurance provider to predict how much of a risk they’re taking to insure them. If your fancy American muscle car suffers an engine problem, are the parts to repair it even available? Will it need a specialist garage? For example, if you have an expensive car and a set of tyres is therefore also expensive, will you be tempted to get them changed less often than you should?

Any uncertainty that exists means that the insurance provider must charge more, because they must be prepared to pay out more if (and when) something goes wrong.

How can I save money insuring my imported car?

There are a couple of things that you can consider when looking to reduce your imported car’s insurance, including:

  • consider taking a higher voluntary excess – just make sure you can afford it. Also, don’t forget that because it’s a Grey Import, there may also be a higher compulsory excess too
  • use our online comparison service to ensure you receive a range of competitive quotes. Simply fill in our online form by telling us a bit about you, your car and what level of cover you’ll need. Our online comparison service will do all the leg work for you and provide you with a range of competitive quotes that suit your needs.

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