Cheapest Car Insurance For Imported Vehicles


Cheapest Car Insurance For Imported Vehicles

Having some form of car insurance is a requirement for all types of cars in most states. Domestic and imported vehicles require car insurance. The type of insurance that you buy depends upon two things: the laws in your state and your personal/family situation.

In most states, all vehicles require at minimum liability coverage. This type of coverage is designed for situations when the insured gets into an accident whereby it is not their own fault but that of the other party. The liability coverage takes care of the property (vehicle) and medical expenses for the other party. However, it does not cover two other very common situations: covering your own vehicle damage and medical expenses if the accident is your fault and your vehicle damage and medical expenses if the accident is the other party's fault and the other party is not insured.

For situations whereby the accident is your fault you can purchase collision coverage to cover damage to your own property and personal injury protection (PIP) coverage to cover your own medical expenses or those of your party.

Remember that while liability coverage may be the only auto insurance requirement in your state, it can be very wise in most cases to buy more insurance than the minimum coverage amount calls for. Doing so can help you avoid or at least reduce possible very big expenses down the road that result from replacing your own vehicle, paying for medical expenses, or from lawsuits.

So, make a list of the required and desired types of coverage you plan to get quotes on for your imported car.

Insurance For Imported Sports Cars

If you are looking for the cheapest car insurance for imported vehicles, you are likely talking about sports cars. Owners of sports cars - whether the cars are imported or domestic - are usually required to pay higher insurance premiums that are owners of compact cars, sedans, full-size cars or minivans.

While the definition of sports car is not universal from company to company, the two main factors that could put your car into the sports car category in the eyes of an insurance company are: high horsepower and two-door cars.

If you own an imported or domestic sports car, you will definitely want to shop around for the cheapest car insurance. Note that some insurers actually specialize in insuring sports cars, while some do not (even though they do offer it).

Commonly-Available Insurance Discounts

When shopping for car insurance for your imported vehicle, once you know which types of insurance coverage you are going to purchase, make sure you make a list of all of the possible discounts for which you might be eligible. Available discount options vary by insurance provider, but example include: having safety equipment on your car (like anti-lock brakes), having a good driving record, and driving a low number of miles on an annual basis. Be sure to ask the insurance companies you contact about discount options.

Shop, Shop, Shop(!) For The Best Deal

One of the most important secrets for getting that cheapest-possible deal on auto insurance for your imported vehicle is to shop around. Armed with your list of required coverage types and possible discounts, start contacting insurers. If you own a sports car, you should probably contact two to three "regular" insurers, as well as at least two insurers that specialize in insuring sports car drivers.

Tip: be sure to record all of your interactions with the various companies you contact. Software like Microsoft Excel works best, but any spreadsheet program will work great. And, so will pen and paper. The point is: since you are looking to get an apples-to-apples comparison among insurers, it is essential that you record your findings clearly and in an organized way for later review. Good luck!