After you've decided to import a car from abroad into the US, your next step should be to locate an insurance company. But where do you look? Finding a company who will work with you can be quite a challenge and once you do find a company, the insurance rates are often quite high, depending on the model of the car you are importing.
For example, if your car is just a foreign variation of a car available in the US, for example a European only version of a Nissan or Toyota, the insurance costs will probably not be too high. Because the parts for the car are probably interchangeable between the American and European versions of the car, it won't be hard to find the parts and the costs won't be out of line should you get into an accident and the insurance company has to fix your car.
However if you are bringing a car into the US which is unique, your rates could be astronomical. The reason is that it will be difficult and expensive to locate the parts to fix your car should you be involved in an accident. From an insurer's point of view, the prices they charge are all about risk. If fixing your car could cost a lot, they are going to charge you dearly for the privilege of letting them provide you insurance.
Because each car is unique and involves a lot of time and effort to review when deciding how much to charge for insurance, many insurance companies simply won't provide insurance for imported cars. They figure that for the small amount of money - for them - that they will make does not offset the additional cost of knowledgeable personnel they will need to have to be able to make the proper determination of cost for each policy.
Surprisingly, search engines fail to turn up many options when it comes to finding import car insurance. It is definitely an overlooked area of the car insurance industry. Try asking around on the forums at car enthusiast web sites like import-car.com and even motortrend.com. Also, look for insurance ads in import car magazines and newsletters. The advertisers in these publications understand what you are looking for and will be more than happy to work with you. Finally, talk to the company that is importing your car. They will also be able to give you names and contact information for insurance companies that should be able to provide you with reasonable rates.
For example, if your car is just a foreign variation of a car available in the US, for example a European only version of a Nissan or Toyota, the insurance costs will probably not be too high. Because the parts for the car are probably interchangeable between the American and European versions of the car, it won't be hard to find the parts and the costs won't be out of line should you get into an accident and the insurance company has to fix your car.
However if you are bringing a car into the US which is unique, your rates could be astronomical. The reason is that it will be difficult and expensive to locate the parts to fix your car should you be involved in an accident. From an insurer's point of view, the prices they charge are all about risk. If fixing your car could cost a lot, they are going to charge you dearly for the privilege of letting them provide you insurance.
Because each car is unique and involves a lot of time and effort to review when deciding how much to charge for insurance, many insurance companies simply won't provide insurance for imported cars. They figure that for the small amount of money - for them - that they will make does not offset the additional cost of knowledgeable personnel they will need to have to be able to make the proper determination of cost for each policy.
Surprisingly, search engines fail to turn up many options when it comes to finding import car insurance. It is definitely an overlooked area of the car insurance industry. Try asking around on the forums at car enthusiast web sites like import-car.com and even motortrend.com. Also, look for insurance ads in import car magazines and newsletters. The advertisers in these publications understand what you are looking for and will be more than happy to work with you. Finally, talk to the company that is importing your car. They will also be able to give you names and contact information for insurance companies that should be able to provide you with reasonable rates.
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