A car bought from another country built to non-UK standards is known as an import car. Some cars that are bought in the UK were actually built abroad, but they were built for sale here and according to this country's specifications for motor vehicles. These models are not officially regarded as imports. If you are planning on buying an import car then it is important to understand how different types of import car can affect the amount of insurance you might have to pay in order to drive them in the UK.
Import cars can vary in specification and because of that there are two types - parallel and grey import. A parallel import is a car that has been tested to European specifications. These tests include crash protection, lighting, brakes, emissions, and steering and these will all satisfy an identical minimum European standard that is also applicable to cars built in the UK. The difference between a parallel import and a UK specification car is that the warranty that comes with the car could have different terms and conditions.
A car is known as a grey import if it is made to standards that apply outside the UK and EU. Because it doesn't adhere to standard EU specifications it is considered a grey import, and mostly these cars will come from Japan or the USA. Although there are some garages in the UK that can repair cars that are built to foreign specifications, it can be difficult for many motorists to get new parts and the appropriate service when they need to be repaired. Even if a grey import car can be repaired in the UK, it is likely to cost significantly more than you would expect to pay for a UK or EU specification model.
How imports can affect your car insurance. Both types of imports can affect the cost of your car insurance, as they will not be made specifically according to UK standards. The reason that imports can affect how much you are charged for insuring your car is mainly that companies view them as more expensive to repair. If you are involved in an accident that puts your import car beyond repair then it could be very expensive to replace. Even if you have an excellent driving record and a long history of no claims on your insurance policies, the insurers will be wary of the risk of a big claim on your cover for expensive repair bills.
One of the main reasons people buy import cars is because they can be cheaper to purchase than the same or similar model available in the UK. The question for drivers who want to save money on the price of their car is whether the price of the insurance policy could wipe out those potential savings. One way of looking at it is to consider that a parallel import is likely to be only a little more expensive than a grey import, because many insurers will take the view that as it was built to EU specifications and therefore to the minimum UK standard. So repairs or replacements might not be significantly more expensive. Models will vary though, so it is important to check first with a range of insurers before buying the vehicle if you are concerned about an increased cost on your car insurance.
Grey imports are much more likely to attract a higher car insurance premium, as insurers will consider them difficult and, in most cases, expensive to repair or replace. Again, if considerable savings can be made on the purchase, it could be that even a more expensive insurance policy added to the total cost could still mean you can save money compared to buying a similar model in the UK. There are specialist insurers where you can get a good deal on import car insurance. It is always worth getting a quote online before buying the import car, and by comparing prices and shopping around you could make some great overall savings.
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