Insurance For Imported Cars

According to a new law that came into effect as of 20th June 2011, all owners of registered vehicles must keep them insured unless they have made a request for Statutory Off Road Notification (SORN). A car cannot use a public road, even if it is just standing and is never used for driving purposes, unless it is insured. If one does not have insurance and has not applied for SORN, they could face hefty penalties.

• If caught uninsured, the owner could get a fixed penalty of £100.
• The vehicle may be wheel-clamped, destroyed or impounded.
• The owner may have to face court prosecution, and end up being fined for £1000.

Any imported vehicle that is used in the UK for more than six months in any given 12 month period must be licensed and registered in the normal way with the Driver and Vehicle Licensing Agency (AVLA). After registration, it must be insured for a minimum third part liability with an authorized insurer in the UK.

A large number of UK car insurance companies simply do not insure imported cars due to the high cost of repairs. The cars made for the UK market are usually cheaper to have repaired if they are involved in an accident as compared to imports. Even European versions of UK cars can be expensive to insure if they are imported. One place where it is possible to get cheap insurance quotes for imported cars is www.carinsurancecomparison.co.uk.

Imported cars can still get insurance, but there is a little bit of extra paperwork

An advantage of searching online for cheap car insurance is that one can compare quotes from a large number of different companies in a relatively short amount of time. Currently, the imported car insurance market is becoming more competitive and it is possible to find companies offering cheaper rates to their clients. To get the best and most accurate comparison possible, first decide exactly what is desired in a policy. Comparing the rates of a basic third party policy with that of a third party with options added will not yield very competitive results, nor will it be of any use. This is because the two policies provide different kinds of coverage. So make sure to compare policies that are exactly the same to get truly competitive results.

Having the minimum third party car insurance is required by law, however, it must be remembered that such a policy will not cover the policy holder’s own car. If the policy holder’s car is imported, then getting it fixed out of pocket will not be cheap. Hence, it is a good idea to get extra coverage above and beyond the minimum required by law. In a serious accident, the cost of getting one’s imported car repaired can run into hundreds or even thousands of pounds, depending on the damage incurred.

Asking for discounts that one may be eligible for is a great way of reducing insurance premiums. Each company employs different criteria for making discounts available to potential clients. One common discount offered by a lot of the companies found at www.carinsurancecomparison.co.uk. is the no-claims discount. This is made available when a client has not filed a claim with an insurance company for a certain amount of time.

The no-claim discount is one of the best discounts possible. If one qualifies for this than it is possible to get as much as 25% back from the cost of the premium in the first year and more as the years go on. So if one pays £1000 annually in premium costs, then they will get £250 back in the first year that they qualify. Other discounts are possible also, for example one can get a discount for shopping for insurance online. Also, buying more than one policy from the same company, like car and health, or car and house insurance, will also qualify one for more discounts.

While imported car insurance is not cheap, it is possible to find companies that can provide affordable insurance. If one has insurance but is in the market to renew a policy, then talking to the existing insurance company’s representative about what discounts they can offer is a good idea.

In this age of tough competition, companies would rather offer discounts themselves rather than lose good customers to a company offering cheaper insurance. One has nothing to lose by asking for discounts and everything to gain, and if that does not work then online comparisons are always there.