krumovo Import Car Blog

Getting Cheap Car Insurance for Imported Cars

There are a number of reasons why you would want to import a car. Firstly you will be saving a substantial amount of money by importing. For example, if you import a car from Japan to the US, then you would be paying a fraction of the price even after the import costs. Secondly, you might have relocated and want to drive in a foreign country. Thirdly you are more likely to get a wider choice of car models than what is available in your home country. There are other reasons as well but what you need to know is how imported car insurance varies according to the vehicle’s country of manufacture.

There are many other more important factors that will determine your insurance rates. Let’s find out what they are before seeing how insurance for imported cars differs for each of the above categories.

Having a “clean” driving record saves you money on car insurance for a reason. Insurers use your past driving history as a predictor of your driving future, and having no accidents or only one or two minor accidents makes you a better risk. Getting into an accident can change all that, and depending on the accident and the insurer, you will probably have to pay a higher insurance premium because of it. How much your premium will increase if at all varies between states and between insurance companies.

To find out how an accident will affect your car insurance premiums, check your policy. Some insurers will forgive a first-time accident, a minor accident or an accident in which you were not at fault. Some states also have laws that govern what an insurer can use as justification to raise your premium. It pays to research your particular policy before signing it, but if you find out that your current insurance has stricter regulations than you are comfortable with, it’s easy to switch your policy to another insurer. Most insurance policies allow termination at anytime without penalty.

Its a popular trend these days for auto insurance companies to offer “accident forgiveness,” essentially relieving you of a rate hike if you happen to get into an auto accident within their set time frame. This is great, but still a majority of auto insurance companies have not jumped on board with this concept. And many of those that have will charge a higher premium for this service, or will really increase your rate on the second accident.

The amount of money at which your premium will increase varies from case to case based on a number of factors. The cost to the insurance company is a major contributing factor to this figure. The frequency of accidents and claims play an even bigger role in a car insurance increase. As you’re required to make claims, the auto insurance company will begin to see you and your car as risky and costly to the company, in turn shooting your rates through the roof.

Consider all the factors and you should have no problem getting a cheap car insurance quote for your import car. That link is just one of the many insurance companies that are easy to find online.