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Classic Car Insurance

Grey Imports

 

In recent years there has been an increasing trend to import vehicles sold abroad into the UK. These imports are not arranged by the manufacturer or their official dealers and are known as ‘grey imports.’

 

These vehicles are not manufactured to the same specification as the equivalent model in the UK and cause problems for insurers in obtaining parts for damaged vehicles. These changes in specification may also increase a vehicles performance from the standard UK model.

 

Because of these reasons, insurance companies treat grey imports as inferior and non-standard risks. Some policy wordings include a clause stating that if parts are not obtainable within the UK, the insurer will not pay any increased repair costs, storage costs or provide a courtesy car whilst the vehicle is awaiting repair.

 

Now for the good news! Due to the non-standard classification of grey imports, many specialist insurers will offer cover based on the vehicle use. Similar to classic cars, if the imported vehicle is a second car, garaged and has a limited mileage, insurers may offer competitive rates.

 

Next: Breakdown cover

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