Steve vRS

I know this should be in the Insurance section but here goes.

When insuring a Euro import do you: -

a. Tell the insurer that the car was purchased from Europe?

b. Value the car at what you paid for it or what it would cost to replace from a UK dealer?

Thanks for help as usual

Steve

chiark

I always do, yes. BUT! Tell them in very straight terms that it's a UK specification car. They'll normally ask "is the car right hand drive" as part of their script, and at that point I tell 'em.

For value, I was advised to insure at replacement cost in the UK as the replacement car would most definitely be UK sourced.

Nick.

wrx

Its always best to give them as much info as poss, then they can't void it later on. I imported last year, only one company wouldn't insure me on a euro import. I'm with privilege and if car is written off then a direct replacement will be given in the first year(so they say). Renewal is due in a week £1039, same as last year but I don't know what they will pay out if the worst happens.
Word of warning, if you are collecting your car then it is insured third party only, till you get onto UK soil. That goes with all companies as far as I know. Also they don't have imobilisers fitted or locking wheel nuts.
I flew over and got it back in a day then had clifford fitted the next day(best saving ever)

Boost II

iTrader: (1)

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by wrx:
<B>...I'm with privilege and if car is written off then a direct replacement will be given in the first year(so they say).... Renewal is due in a week £1039, same as last year but I don't know what they will pay out if the worst happens.
[/quote]


I got a Euro import replaced with a UK car from Privelige including all extras - they were very good about it. The cash alternative was not quite so attractive but it was a fair estimate of market valuue based on ad's in Autotrader/Top Marques.


[This message has been edited by Boost II (edited 01 May 2001).]

mutant_matt

I was told by various brokers to insure it for what I paid for it as they would never give me more than that. As a UK car is £21 ish and I paid £15ish I'm not expecting a UK car in replacement....

Matt

tarquin trousers

try Bell Direct....cost £1030 including girlfriend on insurance (this reduced the premium by £40!!!!!!!)

2wdcossie

i was on about getting an STi in from Japan through my mate who's in the 2nd hand import business. i was quoted £1600 on a 95 model so i bought a cheap to insure (£750 fully comp) cossie instead. i was 26 at the time with full NCB.

Boost II

iTrader: (1)

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by mutant_matt:
<B>I was told by various brokers to insure it for what I paid for it as they would never give me more than that. As a UK car is £21 ish and I paid £15ish I'm not expecting a UK car in replacement....

Matt [/quote]

This is daft - insurance is about replacing
a loss not what you paid for something. What if someone gave you a car for free - you surely would still expect a pay out from the insurance if you lost it!!

mik

Why do you have to declare that the car is a parrallel import?

I can see the sense on a genuine grey-import that isn't sold here, but a UK-spec car is a UK-spec car regardless of supplying dealer location...no????

As far as I understand it your V5 doesn't note that the car is an import....only your log book (?)

Is this issue unique to Scoobies (due to IM's lack of enthusiasm towards euro-imports) or ALL imports? Are you legally bound to declare it?

What happens if you purchase a parallel import 2nd hand and don't know? How could your insurance refuse to pay out?

How many questions can I ask in one post? Sorry.

Genuinely interested in an answer to this one. Can Rum* answer?

Cooooey...RRRUUUUMMMMM?????

carl

An interesting one. My Dutch import has a 'Y' in the VIN where UK ones have a 'Z' (AFAIR). Even without, you are required to keep the VAT demand (with the 'paid' stamp on it) for 6 or 7 years, and pass it on to the new owner.

On the one hand, it would be misrepresentation to try to pass of an EU import as a UK car.

On the other hand, it is illegal to discriminate against goods bought in another EU member state.

Who knows? I reckon that if I keep mine for three years it should be worth about the same as a UK car of similar vintage as the warranty will have expire on both and I will have spent more on consumables and servicing than it originally cost.

chiark

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by carl:
<B>On the other hand, it is illegal to discriminate against goods bought in another EU member state.
[/quote]

Tell me more! In what way is it illegal? IE, if a dealer says "it's worth less because its a parallel import", is he actually breaking any law???

I'd always be open about the origins of the car right from the outset, but the person who buys the car from me (eventually) may not quite have the same scruples, so how would it work further down the line if someone didn't know. Damn good question.

Nick.

mutant_matt

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by chiark:
<B> I'd always be open about the origins of the car right from the outset, but the person who buys the car from me (eventually) may not quite have the same scruples, so how would it work further down the line if someone didn't know. Damn good question.[/quote]

You can't hide the fact that it's an EU import due to the Service Log being in a different language!!!!! (And you can't buy and English Service Log)

Matt.

mutant_matt

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Boost II:
<B> This is daft - insurance is about replacing a loss not what you paid for something[/quote]

Agreed - but since when has insurance been either logical or fair!!!

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>
<B>What if someone gave you a car for free - you surely would still expect a pay out from the insurance if you lost it!![/quote]

Yes but this is not the same. If your car is stolen and you make a claim, the insurance company will theoretically only give you market value for it tops, not what you paid for it. They will probably also ask to see the original invoice to check how much you paid for it as well and are unlikely to ever give you more than that!!! (they would probably argue that they are reimbursing you for your loss (of the value of the car), not the car itself )

Matt

[This message has been edited by mutant_matt (edited 01 May 2001).]

Boost II

iTrader: (1)

Matt,

Fact - I was offered £18,000 for a crashed Euro car by my insurers. By finding some real life adverts of cars with similar age/ milage and challenging the £18,000 as being a bit stingey i could have got nearer £20,000. During this process of scouring the ad's and speaking to dealers i found one of the very last unregistered old model Scoobs and got that instead - couldn't resist.

Its not all doom and gloom on Scoobynet

This was before the prices of used cars slumped - if I had taken the cash kept it for a bit and bought an Impreza now I'd be very well off indeed.

It is worth noting that they would not replace with the New Impreza - so you guys with policies offering brand new car replacements with in a year may not be able to make use of this should the worst happen. This policy however was under review due to the large number of Impreza owners wanting to do this.

Boost II

iTrader: (1)

PS the car was declared as an import with Privilege so all the above was by the book.