Quote:
Originally Posted by Ekke
Here in Canada we have recently been given the option of using the indemnification (insurance) method. The difference in cost compared to just putting up the bond is amazing. As I understand it from Suzanne Danis at the CAA they use the same insurance company as in the UK so the prices are the same. You can try out their handy calculator at:
Carnet de Passages en Douane - Cost Calculator - Canadian Automobile Association | Association canadienne des automobilistes
Too bad that the RAC doesn't allow you to simply pay the bond, which is the true import duties rather than using an insurance company's actuarial tables. With the bond you have to put up more money up front but you get 100% of it back, minus the processing fees.
For us Egypt was 55% of the value of the bikes, not 800%. I guess the insurance companies must have assessed that the risk of someone selling their bike in Egypt is relatively high. That is, they've been burned in the past.
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The RAC do allow a bond, but for my new XT1200Z (to Egypt) it would be about £96k or about $150k
Anyway, I just did the insurance calculation and you get ripped off about 30% more than we do. I hate to say I but you just made me feel a bit better - sorry.
Edit: It is apparent that R.L Davidson have a tight monopoly on this, I wonder if our monopolies commision would be interested ! Or should I just shut up in case they pull out altogether ?
The sad truth is that they have no risk whatsoever as Lloyds will chase you for anything they pay out anyway - madness.
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New bike, Retired Nomad.  
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