The end of local car manufacturing (in 2017) saw the automotive landscape in Australia shift dramatically, prompting a surge in personal rare car imports.

Among the most popular personal imports of 2024 are US pick-up trucks like the Ford F150 or Chevrolet Silverado, which are gaining popularity among Australian drivers for their power and versatility.

Globalisation has further accelerated this shift.

" The personal importing of rare cars has become increasingly common in Australia, from classic muscle cars to modern luxury models," says Tom Hall, Senior Technical Underwriter at Dawes Underwriting.

"These new high-end cars often require specialist insurance due to their unique features."

Personally importing a car to Australia involves navigating an intricate web of regulations. The Concessional RAV entry approvals have strict rules and multiple criteria that both the owner and the vehicle must meet.

Having to go through these hurdles, it is understandable that owners want to protect their vehicles to the best of their ability.

That's why specialised insurance for personally imported rare cars is so important.

"Dawes specialises in arranging cover for high-end collectible, prestige, and performance vehicles once they have arrived in Australia," says Tom.

Why custom insurance cover can be vital

Insuring personally imported vehicles is more complex than insuring locally purchased cars.

These vehicles often have unique needs that some insurers and underwriting agencies may not fully understand.

Finding parts for rare imports can be challenging, and owners often prefer a choice of repairers that are familiar with the specific requirements of their vehicle.

Additionally, the rarity of these vehicles means they may hold significant value and sentimental importance to their owners.
Consider the case of a client who returned from the US with a well-known show car 1969 Chevy Camaro. This extensively modified muscle car posed significant challenges for a broker seeking the right insurance.

"Many insurers were hesitant to provide coverage due to its modifications and rarity," Tom says. "This is where our expertise comes to light. We understood the car's providence and were able to offer a tailored insurance solution that met the client's needs."

Another example is a client who personally imported a rare Porsche GT3 RS 4.0 from the UK.

"Only 14 of these models were ever delivered to Australia, so finding insurance coverage was difficult. Dawes was able to work with brokers to arrange the necessary coverage, ensuring that the client could enjoy their car without worry."

What sets Dawes apart?

Dawes takes a personalised and flexible approach to underwriting personally imported vehicles, understanding that each vehicle and owner have unique needs.

This level of personalisation is rare in the insurance industry, where one-size-fits-all policies can be the norm.

"Our broad experience in arranging insurance for a wide range of vehicles, from classic muscle cars to modern supercars, means that we have likely encountered similar vehicles before and can adapt to specific needs quickly," says Tom.

"This experience, combined with our willingness to go the extra mile for your clients, sets us apart from other automotive underwriting agencies."

The changing automotive world demands a new approach to vehicle insurance. With Dawes, you can be confident that your client's personally imported car is in capable hands, ensuring that they can enjoy their unique vehicle with confidence.

For more information about insurance policies and how they can help you protect your clients' prestige vehicles, contact Dawes today at insure@dawes.com.au, or call 1300 188 299.

Dawes Underwriting Australia Pty Ltd t/as Dawes Motor Insurance (ABN 18 050 289 506, AR No. 342982) (‘Dawes’) is an Authorised Representative of SGUAS Pty Limited (ABN 15 096 726 895, AFSL 234437) (‘SGUAS’) and acts for the insurer, Allianz Australia Insurance Limited (ABN 15 000 122 850, AFSL 234708) (‘Allianz’). Consider the relevant Product Disclosure Statement and Target Market Determination available by contacting Dawes on 1300 188 288 or visiting www.dawes.com.au, before deciding if it is right for you. This article has been prepared by Dawes. Any advice here does not take into account individual objectives, financial situation or needs. Terms, conditions, limits and exclusions apply.

Information contained in this article is accurate as at 9 September 2024 and may be subject to change. In some cases information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way. Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Dawes, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.