Japanese imports dominate growth in imported vehicles book
Authored by Daniel Spencer, Senior Motor Underwriter, Prestige Underwriting
It is well known that UK motorists love an imported car and in recent years, there has been a marked surge in the demand! As a non-standard motor insurance specialist, we provide cover for a wide range of niche risks including imported cars and have recorded significant growth in this particular risk type in recent years for both the mainstream brands but also the rarer models which many other insurers do not.
According to data from the DVLA, 209,374 cars were imported into the UK during the ten-year recorded period from 2011-2020. The Top 5 imported car manufacturers including Toyota (No.1 – 37,949 cars), Nissan (No.2 – 17,648 cars) and Honda (No.5 – 12,600 cars) are very much reflected in the business written book of this niche risk type at Prestige Underwriting.
Our team of motor underwriting experts have recorded growth in cover provided for the Japanese models Toyota Estima and Aqua, Nissan Elgrand and the Honda models Fit, as well as more rarer models from the Australian manufacturer Holden, in particular the Holden Maloo and Ute.
Imported vehicles are an attractive purchase for car owners as they often offer a higher spec, can be more affordable and reliable.
While insurance can be expensive, our non-standard motor insurance product is tailored for this niche risk. As evidenced by our business written, not only do we do cover the mainstream Japanese Imports, we can also help policyholders with cover on other, rarer imported cars.
