Import Car Insurance

Key Points:

• Import car insurance is designed to protect cars that aren’t made for the domestic market and typically see their value increase over time.
• Progressive, Geico, and USAA are among the major insurers that partner with specialized companies to offer coverage for import, classic, and collector’s cars.
• Import car insurance often comes with relatively low mileage limits, since it’s usually not intended for daily drivers.

Once you purchase and register an imported car in your name, it’s like insuring any other car–there isn’t a specific type of insurance called import car insurance. The major difference between insuring domestic and imported vehicles is that an imported car may appreciate in value over time. That means you want to find a policy that covers agreed value, not book value.

While import car insurance isn’t hard to obtain, you do need to know what to look for. If your insurance agent tells you to add your 1992 Mazda RX-7 to your standard policy, you may not have coverage for the car’s full value.

We’ll get into the specifics of insurance for imported cars below. We’ll also recommend a few companies that stood out in our research of the best car insurance providers. Many providers offer coverage for imported cars, but some are better than others. In the end, you should get a few auto insurance quotes so you can compare coverage and pricing.

Use our tool below to start comparing car insurance quotes:

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What Is Import Car Insurance?

Import car insurance is fairly similar to standard car insurance. The main difference is that import car insurance takes into account that imported cars increase in value over time, instead of losing value like standard vehicles. On top of standard car insurance coverage, import car insurance also includes coverage for replacement or original equipment manufacturer (OEM) parts.

Import Cars Vs. Domestic Cars

For the purposes of this article, an import car is a car that isn’t meant for the United States market. It’s been imported by a specialty seller or buyer, but it hasn’t been sent to the U.S. by the brand officially.

Import cars can also be classified gray import cars, like when a BMW model designed for Europe is imported into the U.S. instead. A gray import car isn’t illegal to import, but it might not meet federal regulations without modifications.

When talking about the car market in general, “import” can also refer to any car produced outside the U.S., like cars made by Subaru or Acura. But these cars are distributed into the domestic market by authorized retailers, and they don’t need any special type of car insurance unless they’re collectible.

Today, we’re only focusing on vehicles not meant for the U.S. market that could benefit from import car insurance.

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Our Recommendations For Import Car Insurance

USAA, Geico, and Progressive sell import car insurance plans backed by specialty companies. These plans provide the best of both worlds as far as import car insurance is concerned: Customers get the track record and customer service of a larger company combined with the expertise of a specialty insurance agency.

To make it easy for you, we took a look at the best car insurance providers to see who offers agreed value coverage for imported cars. Based on our research, these are the best import car insurance providers:

When deciding which car insurance company is right for you, compare car insurance quotes from multiple companies. For import car insurance, in particular, we recommend American Modern through Geico and Hagerty auto insurance through Progressive.

#1 Progressive Import Car Insurance Through Hagerty

Hagerty classic car insurance is available through Progressive auto insurance. Hagerty gives customers an unlimited mileage budget and comprehensive allowance for spare parts with its import car insurance. The company does require you to have another car insured in your name that you use on a daily basis, which is standard for specialty car insurance.

One perk of working with Hagerty is the company’s Carcierge. This service available to Hagerty Driver’s Club members can help you track down hard-to-find parts for your car. Hagerty specializes in finding new old stock and OEM parts.

Hagerty’s underwriting partners all have financial strength ratings of A or better from AM Best. Progressive has a financial strength rating of A+. These ratings mean that Progressive and Hagerty have the ability to pay out customer claims and provide a satisfactory customer experience.

#2 Geico Import Car Insurance Through American Modern

Geico car insurance for imported vehicles through American Modern is another great choice for import car enthusiasts. Geico has an A++ financial strength rating from AM Best and an A+ rating from the Better Business Bureau. These top ratings from experts reflect well on Geico’s reliability.

To qualify for import car insurance from Geico, your vehicle must meet the following qualifications:

• At least 25 model years old
• A new exotic car (Aston Martin, Lotus, Alfa Romeo, etc.)
• A new replica car
• A classic military vehicle, hearse, or fire truck

In addition to the vehicle requirements listed above, each vehicle insured by Geico must also only be used to travel to exhibitions, club activities, and occasional pleasure and leisure drives. Vehicles must be stored in an enclosed garage to qualify for coverage.

American Modern offers an unlimited mileage plan and a high spare parts coverage amount of $2,000. The company knows that agreed value coverage can be expensive, so it allows drivers to choose deductibles of up to $10,000. Choosing a higher deductible can help you save money on monthly rates for an import auto insurance policy.

#3 USAA Car Insurance Through American Collectors

USAA classic car insurance also includes import car insurance. USAA classic car insurance for import cars comes with the following benefits:

• Agreed-value coverage: The value of your imported car is based on its condition, rarity, and features. If your vehicle is deemed a total loss in a covered event, the value automatically increases by six percent.
• Mileage plan: In most states, imported car owners with USAA car insurance can choose their mileage limits to allow for maximum usage flexibility. Your options with USAA range from 2,500-mile, 5,000-mile, or 7,5000-mile tier.
• Automatic coverage: Getting coverage for any imported vehicles you add to your fleet is easy as qualified vehicles are automatically covered for 30 days, up to $100,000 with USAA classic car insurance for imported cars.

See if your car is eligible for USAA classic car insurance for classics, exotics, muscle cars, kits and replicas, street rods, and vintage motorcycles that are:

• Driven for pleasure only
• Not used for racing or timed events
• Stored in a garage

Drivers of the imported covered vehicle must also have at least five years of experience driving with a valid license, have no more than one moving violation or at-fault accident within the past three years (up to two per household), and have no DUI convictions on their record.

#4 State Farm Classic Auto Insurance

State Farm offers a wide variety of coverage, including import and collector car insurance. To be eligible for State Farm import car insurance, your exotic must meet the following eligibility criteria:

• Eligibility criteria for classic imported vehicles: 10 to 24 years old
• Eligibility criteria for antique imported vehicles: 25 years or older that has historic interest

Whether your imported car is a classic or antique, State Farm car insurance provides standard coverage for classic cars:

• Liability
• Medical payments/no-fault
• Comprehensive and collision
• Uninsured/underinsured motorist protection

All State Farm classic car insurance plans come with emergency roadside assistance. Here are some reasons why owners of classic cars could be interested in State Farm:

• If you use your car on a limited basis, your premium could be lower
• Agreed-value coverage is available
• You can receive up to $500 in coverage for your car’s spare parts

One interesting perk to State Farm auto insurance is its 24-Hour Good Neighbor Service. You’ll have access to a State Farm agent 24/7 to handle your antique or classic auto insurance needs.

#5 Heacock Classic Car Insurance

Heacock isn’t as much of a household name as USAA, Geico, Progressive, and State Farm, but it should be a contender in your search for import car insurance. Here’s what you should know about Heacock classic car insurance for your import car insurance needs:

• It offers agreed value protection so you know up front what to expect if your imported vehicle is ever deemed a total loss.
• Heacock’s single liability policy allows customers to only pay once for liability protection, no matter how many vehicles are in your collection.
• Roadside assistance guarantees flatbed towing up to $200.
• Newly purchased exotics and sports cars are covered automatically for 30 days up to $50K.

On TrustPilot, a reliable customer review aggregator, almost 1,200 customers rate Heacock classic car insurance with an average of 4.9 out of a possible 5.0 stars. Nearly every review mentions Heacock representatives offering stellar customer service.

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What Kind Of Car Insurance Coverage Should You Get?

When you’re shopping for import car insurance, it’s good to know what coverage is available to you. There are six standard types of car insurance:

• Liability insurance (Bodily Injury and Property Damage)
• Collision insurance
• Comprehensive insurance
• Medical payments (MedPay)
• Personal injury protection (PIP)
• Uninsured/underinsured motorist (UM/UIM)

Liability coverage pays for medical bills and repairs for others in accidents that you cause. Whether you’re driving a specialty import or a standard car, you need this coverage. However, you’ll need a large amount of liability car insurance if you drive around other expensive vehicles–for example, at auto shows. Liability plans with limits of $1M aren’t uncommon for import or exotic car owners.

Collision and comprehensive total payments are based on the value of your car. Once that value is maxed out, the insurance company won’t pay for more damages. That’s why an agreed value plan is so important. Deductibles can range from $100 to $10,000 for import car insurance. What limits you choose for MedPay, PIP, and UM/UIM are up to you. Some states require these coverage types, but all insurance companies will let you know what’s required when you get a quote.

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What Does Import Car Insurance Cover?

Import car insurance can seem a little overwhelming when you don’t know what exactly is covered. On top of standard car insurance, there are a few extra coverage options that are unique to import car insurance:

• Agreed value protection: Know how much to expect in compensation if your imported car is deemed a total loss.
• Spare parts coverage: Have repairs completed using the right parts to maintain your imported car’s value.
• Value protection: Pays you what the market value is on your car at the time of the accident.

Most import car insurance providers offer regular opportunities to raise the agreed value. Some automatically raise it by a certain percentage per year, while others involve drivers in the process.

What Is Agreed Value Protection?

It’s important to find a policy that covers agreed value, and not book value. These kinds of policies are often called collector or classic car insurance policies but can cover a variety of vehicles including exotics, imports, and even historic war vehicles. When you begin a policy, you’ll come to an agreement with your insurance carrier on what your car is worth.

If you put $15,000 of upgrades into the car, you can include that in the value. You can also adjust the agreed value year after year for appreciation. That means you can have the entire actual value of the car covered.

If your car is totaled, you can get out what you had put into it. But there’s another benefit of agreed value insurance for imported cars: It also raises the maximum limit that the company will pay out for repairs, since that limit is the value of the car.

Are Your Spare Parts Covered?

After an accident in your imported vehicle, you don’t want to take your car to just any shop and have them slap on some generic aftermarket parts that may decrease value. The good thing is that many collector car plans come with a specific coverage to pay for the right spare parts. You may have to get specific parts sent to the repair shop. Some import car insurance plans also cover the spare parts that you already have.

What Is Value Protection?

Unlike agreed value, a book value or stated value policy will only pay you what the market value is on your car at the time of the accident. Let’s say you have a 1989 Nissan Skyline R32 that you paid $40,000 to obtain. A standard insurance company doesn’t care about what you paid–it cares about what the market value is on that car in your area.

The auto insurance company would look at other Nissans from around 1989 to determine its value. Chances are, there aren’t any other 1989 Skylines around you, so the company might look at a Nissan Sentra from ‘90. The underwriter might not understand that a Sentra and a Skyline are worlds apart. Needless to say, the number the company comes up with would be a fraction of what your car is actually worth.

Now, some drivers might just want to get coverage. They might be fine adding a Skyline to a standard policy if they have other cars too. But what if the insurance company assigned a value of $5,000 to a $40,000 car? That $5,000 is the maximum the insurance company would pay out for repairs over the life of the vehicle. After that, it would be totaled. And any single accident that caused over $5,000 in repairs would total the car as well.

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Get Import Car Insurance Quotes

Whenever you shop for car insurance, we recommend getting free quotes from multiple providers so you can compare coverage and rates. In addition to the insurance company you choose, factors such as your age, vehicle make and model, and driving record can affect your insurance premium, so what’s best for your neighbor might not be best for you.

Use our tool below to start comparing personalized car insurance quotes:

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Import Car Insurance: Our Take

Finding agreed-value coverage for your import car is a must. Thankfully, some of the most popular insurers in the country offer this coverage through partnerships with specialty companies. As with standard auto insurance products, it’s best to compare free quotes from multiple providers before you purchase insurance for your import vehicle.

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Import Car Insurance: FAQ

Below are some frequently asked questions about import car insurance:

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How We Rate Auto Insurers

Our review team extensively researches auto insurance providers to deliver informed and unbiased assessments of leading companies. We evaluate several key rating factors that are important to consumers to determine which providers are the best in the industry:

• Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
• Availability: Insurance companies that offer wider availability to consumers in terms of state availability and few eligibility requirements are more likely to meet consumer needs.
• Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
• Pricing: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
• Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer a smooth experience.
• Technology: Providers with an online quote tool, easy-to-use claims app and a usage-based insurance app score best in this category.

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