http://www.moneysupermarket.com/car-insurance/imported-cars/
[h=2]How much will I pay for imported car insurance?[/h] Car insurance for imported cars tends to be higher in price than car insurance for conventional UK-bought cars.
First off, the more expensive premiums may reflect the fact that it can be harder and more expensive to source spare parts for imported cars - making these vehicles more costly to repair in the event of a claim. In addition, as these cars can often be built to a higher specification than conventional cars, there is also an increased likelihood of an accident.
Further, costs may be higher where an imported vehicle has not been constructed to the same standards as a European model; for example, the car could be a left-hand drive.
While many insurers will insure left-hand drive vehicles at the same rate as right-hand vehicles, any difference in the way the vehicle is constructed can potentially have an impact on price; the key is to check this when looking for cover.
[h=2]What are the different types of imported car?
[/h] When it comes to buying a car from overseas, the key thing to understand is that the cost of imported car insurance depends on the category into which your vehicle falls.
According to the AA, there are two types of imported vehicle: grey imports and parallel imports.
Grey imports
So-called “grey imports” are cars which are built outside the EU and which do not conform to European standards.
Japanese imports, for example, fall into the “grey import” category.
If you buy one of these models you may struggle to get motor insurance, as some firms simply will not offer cover - or will only do so at an inflated price.
Where an insurer offers cover at a higher price, it usually reflect the extra costs involved in sourcing and transporting spare parts for these vehicles, as and when required.
It's also worth noting that grey imports may be of a higher performance specification than their European equivalents when it comes to features such as power, output, weight, suspension and electronic systems; Japanese imports in particular tend to fall into this category of having a higher-performance spec. As this increases the likelihood of the driver having an accident, this can have a knock-on effect on imported car insurance premiums, and result in higher costs.
Crucially, if an insurer is willing to offer imported car insurance, the firm will require you to undergo a process of testing under the Single Vehicle Approval scheme; this needs to happen before your motor is legal to drive on UK roads.
In addition, your insurer will also ask a series of detailed questions about the car before it will offer to provide you with an imported car insurance quote - so be prepared for this too.
Parallel imports
Parallel imports are vehicles manufactured inside the EU.
Finding cover for a car imported from Europe tends to be simpler than finding cover for a grey import, as parallel import vehicles have to meet the same minimum standards as UK vehicles. As a result, insurers are usually more willing and open to offering cover for these cars - making it easier to find a policy for a parallel import at an affordable price.
