If you plan to import a car from overseas into the UK then you need imported car insurance in place before your car arrives. Imported car insurance works in exactly the same way as normal car insurance and will cover your vehicle for loss, theft or damage whilst it is in transit and afterwards. However, imported car insurance is usually more expensive than ordinary car insurance, but there are lots of ways that you can find cheaper imported car insurance.
Types of imported car insurance
As any driver knows, the more expensive and powerful the vehicle you drive is, the more expensive your insurance will be. Many imported vehicles fall into the sports car category which means they cost more to insure than an ordinary car, so before you make any investment into an imported car, make sure you can afford the necessary insurance.
The main types of imported car insurance are liability insurance that covers the other party in the event of an accident, medical cover to pay for the other party’s medical bills and collision cover to pay for damages caused in a collision. It’s also possible to insure against uninsured drivers, which can be very useful as the number of uninsured drivers on the road continues to increase.
Finding cheap imported car insurance
To find the best prices on imported car insurance follow these tips:
Look for quotes online
When searching for imported car insurance the easiest place to start is online. You can use price comparison websites to find lots of different quotes quickly so you can compare and contrast what all the different insurers are offering.
Look for a specialist company
When purchasing imported car insurance it’s a good idea to look for a specialist company that deal solely with imported cars. This is because they will be more familiar with dealing with the type of claims people with imported cars make and will probably be able to offer a cheaper deal than a more general company.
Insure multiple vehicles
If you already have insurance for a vehicle then look into whether you could add your imported car to the policy you already have. In most cases multi car insurance is cheaper than insuring different cars on different policies.
Increase your excess
As with all forms of insurance you can reduce the costs of your monthly premiums by increasing the excess you are willing to pay. However, always bear in mind that if you need to make a claim you will have to pay more towards the costs so only do this if you can afford it.
No claims bonus
One of the most effective ways to reduce the cost of your insurance over time is to build your no claims bonus, so once you have signed up to a policy try to avoid making claims for small jobs.