I am a step away from buying my dreamcar in Japan and the problem is that being an old car (year 2000) and somewhat expensive (22,000,000~26,000,000¥), the insurance companies cannot cover the car in case of theft.
It is one of those cars that are legendary for JDM lovers, I prefer not to give too many more details…
The price of the car is quite high and I am having a hard time finding insurance that will take liability in case some thief steals it from me.
I constantly see more expensive cars in Japan and I don’t understand how this is possible, maybe because I am a foreigner the quotes and conditions they give me are different?
Could any resident in Japan with expensive cars enlighten me on what would be the best protection against theft?
Obviating the classics: a good alarm, parking in residential areas with good visibility where thieves do not feel comfortable, immobilizers, perhaps some way to track the vehicle by satellite? AirTags?
Does anyone have a ‘classic’ car fully covered in case of theft?
Any help would be highly appreciated
4 comments
upvoted because I’m interested as well – seeing many top level cars around so I do wonder which companies insure those.
>I constantly see more expensive cars in Japan and I don’t understand how this is possible
Because those other cars had a high price originally, and their market values according to any sane calculation are still high. The commonly-used market value calculations for the R34 GT-R you’re about to buy are still quite low, as banks and insurance companies mostly just see a 23-year old Nissan, not a “JDM legend” that is fetching an absolutely absurd price for what it is. Takes a while for the valuation systems to catch up to ridiculous market spikes.
We have neighbors who own a Rolls Royce (maybe 2-3 years old), a Bentley (also 2-3 years old) and a Porsche Taycan. They don’t have a garage — just a covered carport with no gate. They have security cameras and that’s about it.
I don’t see how parking your car in a locked/gated/monitored garage wouldn’t be the easiest option.
I’ve never used them, but there’s Chubb.
https://www.chubb.com/jp-jp/individuals-families/classic-car.html
I am not 100% sure how they deal with theft, but they do provide insurance coverage for the car itself.