Tag Archives: USA

How to Import a Classic American Car

If you are a classic car enthusiast who has an interest in American motors and are considering buying one then you have a number of options. By far the easiest one is to purchase such a vehicle that is already located in the UK but if there is a car that has really taken your fancy but is situated over in the USA then you can arrange to buy it and have it imported to this country.

We have a number of clients who are the proud owners of such vehicles. In this respect, we thought it would be of interest to you if we asked our clients how they imported their vehicles from the USA and if they had any tips/advice.

Here is what one of our clients, Mr B, kindly had to say having recently imported this beautiful example of a 1965 Ford Mustang: –


You’ve imported a few American classic’s, what the secret to making it painless?

Personally I’ve always tried to keep it simple.  You can do it all yourself independently. You can book the cheapest container, book your own shipping, get someone else to load it but your giving yourself 8 extra jobs and if something goes wrong the whole pack of cards falls down.

I generally try to use one really competent shipper and give them the zip code, contact details and address and they do the rest.  They also need to know the length, weight and description.

The other key thing is to remember where you are shipping the vehicle from in the US too because the cost to ship from inland American can be as much as shipping the vehicle from the US to the UK.  Generally I buy one not too far from the shipping port so stick to New York, Seattle, San Francisco and Houston but obviously if I stumble across a real bargain I need to factor in the extra transport costs. “


Do you mind sharing with us the approximate cost of the car to purchase in the States and the variety of prices?


From $2000 (wreck) to $250000 (fully restored Shelby GT500)


Who did you imported it through? 

Schumacher Cargo Logistics who will do a door to door service or just to any UK port if you are able to pick-up.


Where did you purchased the vehicle from?

Mark is an ebay seller and mainly deals with Mustangs at Ford Chevy Classics.  He sent me lots of photos and a video of the car in action prior to the purchase.  Another eBay seller with nice cars Oldman Classic Mustangs in Texas.


What do you think the car would sell for in the UK? 



How much was the import tax and any other associated costs? 

Special one off 5% vat for old classic collectors’ cars if for personal use. Typically the total shipping costs and taxes vary but were £3k for this vehicle.


Your dream American muscle car to purchase? 

I already have a GT40 but always fancied a 57 Chevy Bel Air 2 door.”

Some of the things you will need to consider in respect of the above include: –

  1. Obviously, the greater the distance that the car needs to be transported the more it will cost to move it. So, you may wish to concentrate your search for a vehicle around the east coast of the USA rather than over towards the west coast.
  2. How it is transported will have a bearing on the overall cost i.e. whether it is by air or sea and whether it is transported in a container enabling the carrying of any spare parts or on a roll on and roll off (Ro-Ro) basis.
  3. You can arrange everything to do with the transportation yourself or you can leave it to an established transportation company with the later being the most expensive.
  4. You will wish to make sure that classic car shipping insurance is in place in case the vehicle is damaged whilst being transported.
  5. Once the car is in the UK, you have 14 days in which to let HM Revenue and Customs (HMRC) know.
  6. HMRC will advise you how much VAT and duty is payable. It is worth noting that importing a classic car that is less than 30 years old from the USA incurs VAT at 20% whereas if the car is over 30 years of age VAT is reduced to 5%.
  7. You will need to obtain vehicle approval to show that the car meets environmental and safety standards.
  8. The car will need to be modified to be used on UK roads and have an MOT.
  9. You will need to insure the car here in the UK.

In respect of the last point, here at AIB Insurance, we have many years experience when it comes to insuring American classic cars. Once the car is in the UK we can insure it on a chassis number.  No road cover is provided (although some insurers will let you drive to and from the MOT test centre if pre arranged and disclosed to them) whilst you contact the DVLA to register the vehicle.

Many thanks to Mr B and we hope that he enjoys his American car import for many years to come. If any of our other clients wish to share their experiences about importing a classic American car please feel free to get in touch with us.

Classic Ferrari Sells For World Record Price

Those of our customers who are classic car enthusiasts will no doubt be aware that classic Ferraris are highly desirable vehicles with many commanding high prices as and when they are offered for sale. The Ferrari 250 GTO is reputably the most sought after of them all with, it would be fair to say, a value far exceeding what most people can afford to spend. For instance, back in 2013, it is believed that one was sold privately for around £40 million.

Well, it is believed that that figure has recently been exceeded with a 1963 Ferrari 250 GTO fetching in the region of £52 million. This would make it currently the world’s most expensive classic car. Apparently, when originally sold brand new, this make and model of car could be bought for around $18,500. We are sure that you will agree this is a significant increase in value over the years and has probably provided a greater investment return than any other asset.

Who has paid that sort of money for such a wonderful vehicle? Well, it is believed that a businessman called David MacNeil from the USA is now the proud owner of this classic sports car. He owns a business that sells car mats and, by the sounds of things, appears to have made a considerable amount of money doing so.

Only thirty-nine Ferrari 250 GTOs were built between 1962 to 1964. So, it is an extremely rare classic vehicle with this no doubt having a considerable bearing upon its value. These models were capable of rocketing to a top speed of around 174 mph.

This particular Ferrari 250 GTO actually won the 1964 Tour De France so this will no doubt have had an impact upon its value. It has also taken part in many other motor racing events.

The premium to insure such a classic car would no doubt be considerable and there are possibly not too many insurance companies that would be prepared to take on the insurance risk. In this respect, if you are the proud owner of any make and model of classic or vintage vehicle and require a quotation for classic car insurance then why not get in touch with us on 02380 268 351 and one of our experienced members of staff will discuss your requirements with a view to doing all that can be done to obtain a competitive quotation from our panel of insurers.


Overseas Millionaires Favour London When Buying Second Homes

LondonAccording to research carried out by Wealthinsight, it found that London is the most popular city in the world where millionaires from abroad decide to purchase a second home. This probably does not come as a surprise to many of you but it is still great to hear that this is the case as such people no doubt benefit our economy as they probably spend a considerable sum of money whilst visiting the capital city.

Apparently, London is favoured by millionaires residing in other European countries as well as Russia. More people living in the later country buy a second home in London than from any other country. Perhaps some come over to avoid the harsh winters encountered there. Residents of the USA also love to buy second homes in London – no doubt appreciating the historic buildings and architecture. Millionaires from African and Middle Eastern countries also invest in buying homes in London. Many of them love to come over here during the summer months of July and August to avoid the extremely high temperatures in their countries.

The research also found that very few overseas millionaires would look to buy a second home inLondon the UK that is outside the South East of England and London. They are no doubt attracted by all that London has to offer such as an extensive array of designer shops, wonderful theatres, the history of the place and, of course, the many fine-dining restaurants. It is interesting that such people focus on London when purchasing a second home in the UK because there are three cities in the USA that appear in the top five cities that overseas millionaires choose to buy a second home in.

Another interesting fact was that, although London was the most popular city in the world for overseas billionaires to buy a second home to live in for short periods, when it comes to looking at the number of billionaires actually residing permanently in a particular city in the world, London was in fourth place. The city that has more billionaires living permanently in it is New York, followed by Moscow and then Hong Kong.

Here at AIB Insurance, we have insured many expensive second homes in the UK. So, why not get in touch with us on 02380 268 351 to discuss your requirements and obtain a competitive quote.

Skydiver’s False Teeth Mishap

Anyone that is involved in skydiving knows that there is a risk when you jump from a plane and head for the ground – hopefully safely attached to a parachute that has opened when intended. However, very occasionally things don’t quite go according to plan and mishaps occur.Skydiving

Well, that is exactly what happened to a 72-year-old grandmother but fortunately for her and her instructor all ended well with both landing safely on the ground. Polly Chester achieved a lifetime ambition of enjoying a skydiving experience in Plant City in Florida, USA travelling a considerable distance from her home to make the skydive last month.

Having stepped from the plane safely attached to the skydiving instructor, the parachute opened and they were both descending to earth nicely when all of a sudden here false teeth came out of her smiling mouth and hit the skydiving instructor on the forehead. She realized that her teeth had disappeared when closing her mouth.

Fortunately, the instructor was not knocked unconscious and both him and Polly were able to safely complete the skydiving experience. However, it has turned out to be a very expensive experience because in addition to the cost of doing the skydiving she has also had to pay for a new plate that has ended up with her having to find an additional $975. Should Polly ever go skydiving again perhaps she will leave her dentures in her locker!Skydiving

Whilst writing, we have also heard of another interesting escapade involving a skydiver. Fernando Gava recently went up in a plane in Lima in Peru and stepped out of it at 10,000 feet only to get one leg of his trousers caught in the exit step. He then spent the next 30 minutes hanging from the plane upside down. He needed to use a knife to cut off the offending trouser leg and then skydived to make a safe landing with merely a cut hand for his troubles.

Here at AIB Insurance, we will continue to keep you informed of any interesting news articles. We can also help you arrange suitable insurance cover for your skydiving.

Going Skiing This Winter? – What To Take With You.

SkiingIt will not be long before the winter season is upon us. For those of you that enjoy skiing you may be looking forward to a week or two holidaying in a delightful ski resort either in the likes of a country in Europe such as France or Italy or perhaps further afield in Canada or the USA.

Whether you are an experienced off-piste skier or are planning your first skiing expedition on the more sedate nursery slopes there are a variety of things that you will want to bring with you. Some of the items you will take on any overseas holiday but some are exclusive to being required on a specialist skiing holiday.

To avoid the embarrassment of discovering that you have forgotten to bring one or more items with you, we thought that you would find the following list of things to pack a useful document to refer to when packing your suitcase.

Essential Holiday “Documents”

• Passport/Visa.
• Airline/train/coach tickets
• Debit and credit cards plus cash
• Driving license if you are going to be hiring a car or driving your own vehicle
• Holiday accommodation details including directions/map
• Travel Insurance to include winter sports cover
• Ski hire details

Ski Clothing

• Waterproof ski trousers, jacket and gloves
• Ski socks
• Hat
• Fleeces
• Thermal trousers and tops
• Goggles and sunglasses
• Neck warmer

Ski Equipment

• Skis and poles
• Ski boots
• Helmet
• Water bottle
• Rucksack
• Probe, shovel and transceiver for off-piste skiing

General Clothing

• Underwear
• Fleece/jumper
• T-shirt
• Trousers/jeans
• Socks
• Gloves
• Coat/jacket
• Scarf
• Boots/shoes
• Nightwear
• Swimwear

• Toiletries including makeup
• Sun protection
• Mobile phone/charger/overseas plug adaptor
• Reading materials
• Chocolate bars
• Medicines
• iPad
• Camera
• Wrist/knee/ankle supports
• Snow chains for those of you driving a vehicle
• Hand and boot warmers

SkiingWe do hope that the above list takes the strain out of deciding what to pack to take on your skiing holiday and avoids the embarrassment of forgetting to bring something important with you. Why not print the list and use it to tick off the items as you pack them.

Whilst most people will enjoy a trouble free skiing holiday there are some that will be unfortunate to have their break shortened due to suffering an accident on the ski slopes. Should you be one of the unlucky ones, it is important that you have suitable travel insurance in place to cover most mishaps. In this respect, here at AIB Insurance, we can arrange extremely competitive high quality winter sports cover to give you peace of mind. So, why not give one of our experienced team a call on 02380 268 351 and we will be pleased to discuss your travel insurance requirements.