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Car Insurance & Car Storage

Car Insurance & Car Storage

Old Apr 18th 2017, 4:40 am
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Default Car Insurance & Car Storage

I know that it will be an expensive proposition to import a car to Barbados however I do plan to do so under the recent changes that permit Classic to be imported.

The first question, however, is what is typical cost for insurance? I know it will swing wildly depending on many factors, however to date I have been unable to get a local insurance company to quote. I will be insuring a 1985 car with a V8 valued at approximately 70,000 BD (based on Canadian valuation)... even a rough educated guess would be welcome.

Next question, we intend to spend about five months of the year in Barbados, and wish to find secure/rodent free indoor storage for the vehicle when we are not there. Does anyone have experience with costs involved?

Thanks!

Rob.
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Old Apr 18th 2017, 11:03 am
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Default Re: Car Insurance & Car Storage

I'll ask the first question. Are you resident in Barbados?? Returning national who is going back and forth.?? hold residency or citizenship status here, or a visitor who plans to be here 5 months out of the year.

I'm only asking because I don't think the insurance companies will insure someone not resident or citizen.

There are also some Classic Car enthusiasts on the island.. if you are on Facebook, try this one.. https://www.facebook.com/Retro-Class...6790632199166/ and see if they can shed any light on the subject.



And you may or may not want to answer, but what insurance companies have you approached. ??? I ask simply because it makes the list shorter.

I can't give you answers to either one of the questions you are asking, insurance or storage.. however.. I do have a friend in the insurance industry and she maybe able to shed some light, but will need to ask the question first.

There are actually self storage units in Barbados, don't know if they could accommodate a car for the time you are away or even if they would.
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Old Apr 18th 2017, 11:08 am
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Default Re: Car Insurance & Car Storage

Be careful, your valuation is meaningless to any customs guy, they will decide what its worth then tax you to death with the duty. I dont know about barbados but grenada would tax you 156% of their valuation plus tax on shipping and insurance [look up cif.]. Here if they cant prove the value they will just look for the same make/engine size going back around 5 years and value it there. Eg, a suzuki vitara in the uk, bought for 5000 pounds, is valued by the man at 8000 pounds and import port charges duties etc are an extra 14000 pounds.

Dont agree? Well sir can just ship it back or pay storage at the dockside while the sea rots the car and you plead your case for months...

Generically, proper insurance is expensive, windshield for a newish car will be 700 pounds for example, you'll be shipping your own of course as none for you on the island [plus duty yada yada]. Insurance for a newish car is 500-1000 a year here, but of course there are hurricanes and drivers are mostly mad.

Re storage, your main enemies apart from theft of parts possibly are mould/damp in a hot climate, everything has to be a little ventilated or you will destroy the car, and insects which eat organic anything, tyres, leather, even some plastics. Car batteries dont seem to like the tropics, few last more than 3 years it seems, not sure why.

Last edited by uk_grenada; Apr 18th 2017 at 11:12 am.
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Old Apr 18th 2017, 11:16 am
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Default Re: Car Insurance & Car Storage

I do know snowbirds who just rent or even buy clunkers [japanese imports 15 years old] for months on end, its cheaper and less trouble.
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Old Apr 18th 2017, 4:45 pm
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Default Re: Car Insurance & Car Storage

I agree with UK Grenada - the salt air will eventually destroy your baby that you spend time and money to ship here. $70K Barbados is about $50K Canadian...plus import taxes. That's a lot of money going to rust. Buy one that's already on the island and trade it in every few years. You might wish to take the time to place a call to a local car dealership. Simpson Motors Limited has been on the island for decades and they might be able to shed some more light on your issue to provide help.... https://www.simpsonmotors.com/
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Old Apr 18th 2017, 6:55 pm
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Default Re: Car Insurance & Car Storage

and I absolutely agree with UK Grenada and Beachseeker.. 1. it's not as easy as one might think for either shipping or storing.. and having it sit for 7 months would do more damage than good. My car sat for 3 months in my own garage(due to a leg break, I was unable to drive it and the husband only drove it up and down the drive a couple of times). and needed a complete valet on the inside and out and has had a good servicing in the engine etc.. ....

really think long and hard about bringing your car here before you do it..
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Old Apr 19th 2017, 2:08 am
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Default Re: Car Insurance & Car Storage

Thanks for the replies so far; I know there are less expensive options, but I am very keen on bringing the vehicle with me. I will be purchasing property, but most likely will not have the option to have on site storage.

Sunniebgi, I will not be seeking any sort of permanent residency, and will not be looking to work in Barbados, nor do I have no citizenship ties. I am a Canadian citizen. I have spoken to some non residents who purchased cars, so I assume they are insured - but who knows, they may have flown under the radar. I will have to try to get someone on the phone from the insurance company again, I have not managed to get very far with previous calls (I won't name the company, but they seem to be well respected ).

UK_Grenada & Beachseeker; I completely understand the concerns with condition and storage - and I will be reaching out to some of the local classic car folks for their guidance as well. I won't pretend cost doesn't matter - it certainly does - but I have very specific automotive interests, so it is unlikely I will find a car already in Barbados that would do it for me. The one I am planning on bringing in is one of only 52 made, and I have had it in my collection for nearly 20 years, so it is not about being sensible - it is an emotional decision.

One of the things I love about the island also seems to be one of the things that makes it difficult to get things done - things are pretty relaxed - to date I have not managed to get the right people on the phone.

Cheers!
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Old Apr 19th 2017, 11:20 am
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Default Re: Car Insurance & Car Storage

There are people in Barbados who are collectors or enthusiasts of interesting and rare vehicles. Here is a link to an article in one of the news sources with a club name and names of members. They might be able to help you... https://www.barbadosadvocate.com/new...xhibition-year
....and here is another... Classics on show -- NationNews Barbados -- Local, Regional and International News nationnews.com
...and there is also a car museum that might be able to give you some insight. Mallalieu Motor Collection - Fun Barbados Sights
Hopefully this will help you with your quest. Good luck and welcome to the forum. There is a lot of good information here to help you with your planning.

EDIT: and here is a link with some information about insurance for older vehicles... https://www.barbadostoday.bb/2016/07...ow-be-insured/

Last edited by beachseeker; Apr 19th 2017 at 11:22 am. Reason: more info
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Old Apr 20th 2017, 2:04 am
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Default Re: Car Insurance & Car Storage

Thanks Beachseeker - I have reached out to a couple of people in the past, and not to be critical of the insurance company mentioned in the linked article, but when you call them they direct you to a contact that is never available.... I will have to give them another try, again not being negative about them - I think it is great that they are willing to enter this part of the market.

I think your idea of reaching out to the Mallalieu Motor Collection could be a good lead - I have never visited, but will make a point of it when I am next in Barbados.

Thanks again - I appreciate all the input.
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