If you own or plan to buy an imported vehicle, you are undoubtedly excited about your car. Imports can be fuel-efficient, sexy and sporty. And, like any car foreign or domestic, foreign cars require a significant investment to keep you behind the wheel.
Car ownership is never cheap. There are the car payments themselves to think about. And, then you have to pay for gas, repairs… and car insurance.
Imports And Domestic: All Cars Need Insurance
Whether a car is an import or a domestic make, you are going to need to buy insurance. Purchasing car insurance is not only a legal necessity, but it is also a moral one. But, even if these concerns are not at the top of your list, there is another very good reason to buy insurance: to protect your net worth.
You see, if you skip buying insurance or buy too little, you could be liable in civil court for damages after an accident you cause. So, besides being a legal and moral necessity, buying insurance is just plain smart.
Many Imported Vehicles Are Sports Cars
Many imported vehicles fall under the sports car header. If your car is considered as such in the eyes of most insurers, get ready to pay more for insurance than you would if you owned a minivan or a sedan. However, the good news is that you can find insurers that specialize in sports cars (see below).
Types of Insurance Coverage
There are various types of coverage. In general, you will want to consider liability insurance (to cover the other party), medical coverage (to cover your party’s medical bills), collision (to cover your party’s vehicle repairs) and uninsured motorist (to cover your party’s bills if the other party causes the accident but is not insured).
Finding The Cheapest Car Insurance – 5 Tips
Here are 5 tips for cheapest car insurance for imported vehicles:
1. Decide whether your car is considered an sports car: While there is no universal definition for sports car, in general sports cars are going to be those that are high performance, have two doors, and have a tuned suspension.
2. If a sports car, create a list of insurance companies who specialize in sports cars: Some insurance companies specialize in sports cars, so be sure to put together a list of them.
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3. If not, compile list of best insurance companies around: If your import is not a sports car, that just opens up the field even wider for the companies you have to choose from.
4. Create a list of desired coverage types and limits: When shopping for insurance to get the cheapest rates, you are going to want to get comparable quotes from multiples companies. This means getting comparable coverage. Speak with an insurance agent about which types of coverage and coverage limits you need. Then, ask for those same types of coverage from each of the other companies you contact.
5. Contact at least 5 car insurance companies: Now, start shopping! Contact at least 5 of the companies on your list. Don’t stop until you have contacted all of them: more choices means better chances for savings!
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