How to Save on Import Car Insurance Premiums

September 4, 2017 · Posted in General 

If your car is an imported model, you already know that an import is somewhat more expensive to insure than a domestically made vehicle. Even if the higher cost of your insurance premiums is something which does not place a strain on your finances, you’d still like to save money on your import car insurance – and you can if you know how.

Carrying car insurance is a necessity for any licensed driver and in most states in the US is a requirement. This is true whether you’re driving a locally manufactured vehicle or an import car. If you’re looking for ways to reduce your unavoidable monthly expenses, looking over these requirements is a good place to begin with. The requirements specify coverage you must carry so you can request for quotes that meet the minimum legal requirements.

In addition, have a look at the following import car-specific strategies to further chop down your import car insurance rates:

1. The type of vehicle you own makes a difference to the cost of your insurance. The costlier the car, the more expensive your insurance will be. Since imported cars tend to be more expensive, you might want to look into getting a slightly less expensive model if you happen to be looking for a new car and would like to save a little money on your insurance.

2. Consider joining an owner’s club. An owner’s club generally will be able to offer lower rates on car insurance since they use their collective bargaining power to secure lower premiums, much like a group health insurance plan provides to its members.

3. Find out if your insurer offers discounts for any modifications you could have done on your vehicle. Many insurance companies will offer discounts on premiums to drivers of imported cars who install features that improve their performance.

4. Find out about any no-claims discount offered by your insurer; this is something you should do no matter what kind of car you drive. If you maintain a good driving record, you can receive a discount on your premiums.

5. Be a security freak. If your car is imported from countries with little to no car crimes, such as Japan, chances are, your car comes with little or no security features as well. Probably because of the fact that it’s not readily available (or it used too be), in your local market, cars from other countries are hot stuff to car-nappers. Insurance companies place a high premium on security features on these types of cars. Having alarm or tracking systems and immobilizers installed on an import car can greatly reduce your car insurance premiums.

Imported cars are very appealing, even with the slightly higher insurance premiums that you have to pay when you choose one of these vehicles. You may enjoy their high fuel efficiency, their look and their performance on the road – but remember, you almost certainly do not have to pay as much to insure your car as you are currently.

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