Author Archives: AIB

Home Insurance Premiums Rise In 2016

Unfortunately, according to the most recent AA British Insurance Premium Index that looks at the average of the 5 cheapest premiums, there has been an increase in the cost of obtaining home insurance last year. This comes on top of higher fuel prices seen at filling stations and an increase in motor insurance premiums.

In the space of 12 months, the cost of buildings cover rose to an average of £114.43 per annum in the final quarter of 2016 from an average of £106.36 per annum in the last quarter of 2015 with this equating to an increase of 7.6%. Between the third and fourth quarters of 2016 such cover rose in cost by 1.1%.

In the space of a year, the cost of contents cover rose to an average of £60.69 per annum in the last quarter of 2016 from an average of £58.67 per annum in the last quarter of 2015 with this being an increase of 3.5% although, interestingly, the cost of such cover between the third and fourth quarters of 2016 actually dropped by 5.7%.

In the space of 12 months, the cost of combined buildings and contents insurance rose to an average of £157.27 per annum in the final quarter of 2016 from an average of £150.67 per annum in the last quarter of 2015 with this being a rise of 4.4%. Between the third and fourth quarters of 2016 such premiums rose by 0.3%.

London and the South East is the region in the UK where it costs the most for a combined buildings and contents insurance policy with the average premium being £165.93 per annum in the final quarter of 2016. The West and West Country is the least expensive for this type of cover in the same period with the average premium being £146.58 per annum.

Here at AIB Insurance, we have an extensive panel of insurers offering buildings and/or contents insurance. So, why not get in touch with a member of our team on 02380 268 351 to discuss your requirements and obtain a quote without any obligation to see if we can save you any money on this valuable type of cover.

Google Street View Of The Vista Seen By A Skydiver – A World First

Many of you will have taken the opportunity to take a look at locations both in the UK and overseas by using Google Street View and you have no doubt found this to be very useful. The vast majority of those images will have been taken by photographers stood on terra firma.

Well, a photographer by the name of Alex Mather has got together with Skydive Abel Tasman that arranges skydives in New Zealand to become the first person in the world to produce on Google Street View some wonderful views seen by skydivers. In addition, photographs were also taken of the whole skydiving experience from start to finish. The plane flew up to around 16,500 feet at which point the tandem skydivers jumped from the plane to start their descent above the Abel Tasman National Park.

Photographs were taken of the fantastic scenery on both islands including mountains, forests and the sea. It has to be said that the views are breathtaking. In addition to taking photographs, a video has also been produced showing the tandem skydivers in action.

A great deal of work obviously went into producing this Google Street View with it taking 5 days to complete. Congratulations to Mr Mather and Skydive Abel Tasman for what has been achieved. It will be interesting to see if Mr Mather partakes in some other interesting photographic projects that appear on Google Street View in the future.

Here at AIB Insurance, we have arranged competitively priced, quality insurance for a number of skydivers on many occasions. So, if you would like to receive a no-obligation quotation, why not give us a call on 02380 268 351 and speak with one of our friendly, experienced members of staff who will be pleased to help you and answer any questions that you may have about this type of cover.

What Happened To Car Insurance Premiums In 2016?

Unfortunately, the cost of car insurance has been rising for many motorists. If you own a car then you are legally obliged to make sure that it is insured unless it is declared SORN (Statutory Off Road Notification) and kept off the public road network.

One of the price comparison websites called Confused.com has been producing its car insurance price index for 10 years on a quarterly basis. According to that index, the average cost of fully comprehensive car insurance has increased by £95 per annum (14%) to £767 per annum in the 12 months to the end of 2016. In fact, just in the 4th quarter of 2016, such premiums rose by an average of 4% that, in monetary terms, is an extra £30 per annum. The annual increase was due to a number of factors including things like the amount paid out for whiplash claims and Insurance Premium Tax (IPT) rising.

The figure of £767 is the highest that motorists have had to pay since around the middle of 2012.

Younger drivers are, on average, paying the most for their cover with someone of 17 years of age having to find an average of £2,112 per annum. In some cases, that is probably more than some young motorists would pay for a used car. Most drivers who are at least 60 years of age are, on average, finding that their premiums are less than £500 per annum although, if you are 68, you could find yourself having to find an average of £515 per annum.

Most areas of the UK have seen premiums go up. The cheapest region was the Scottish Borders in which premiums averaged £531 per annum in the 4th quarter of last year. Inner London motorist are paying the most for car insurance where comprehensive car insurance premiums rose by an average of £152 per annum in the 12 months to December 2016 to an average of £1,237 per annum.

Regrettably, not enough policyholders bother to see if they can obtain their cover cheaper elsewhere. So, when you receive your renewal notice from your existing insurer, why not get in touch with us here at AIB Insurance on 02380 268 351 and let us see if we can help you save some money on your car insurance.

Stunning Classic Cars To Be Auctioned At Sotheby’s In Arizona

RM Sotheby’s is to hold its 18th annual sale of collector cars in Phoenix, Arizona, USA between the 19th to 20 January 2017. There would appear to be some wonderful classic vehicles being auctioned so if you are a keen classic car enthusiast then you may wish to visit their website for more details and, if there is something that catches your interest, progress the matter further.

Below we highlight just some of the vehicles that are available to bid for: –

1939 Mercedes-Benz 540 K Special Roadster by Sindelfingen – there were possibly only 25 Special Roadsters built with this one being commissioned by the original owner in Berlin so it has some unique features. It is an open-topped two-seater grand tourer that, at 17.5 feet in length, is extremely big for such a vehicle. It has an 8 cylinder 5,410 cc engine that produces 115/180 bhp cruising beautifully on the German autobahn at 85 mph. It has an estimate sale price of between $7,400,000 to $8,400,000.

1969 Ferrari 365 GTS by Pininfarina – only 20 of these were manufactured so it is extremely rare and this make and model hardly ever becomes available to buy publicly. It is powered by a V-12 4,390 cc engine that produces 320 bhp. It has only done in the region of 10,235 kilometers. This delightful open-topped sports car has an estimated sale price of between $2,900,000 to $3,500,000.

1933 Chrysler CL Imperial Dual-Windshield Phaeton “Ralph Roberts” by LeBaron – it is thought that this was the last of these cars constructed and was the personal vehicle of Ralph Roberts who was a designer for LeBaron that was a coachbuilder. It has been beautifully restored finished in Moon Glow Blue polychromatic. This particular classic car was at the 2014 Pebble Beach Concours d’Elegance at which it won Best in Class. It has an 8 cylinder engine producing 135 bhp. This open-topped classic car has an estimated sale price of between $1,400,000 to $1,800,000.

If your interest is in more recently built supercars then how about the following: –

2003 Ferrari Enzo – this high performance car is owned by Tommy Hilfiger who is a designer and he has had it since new. Only 400 of these cars were built and this one has only done 3,620 miles and has been well maintained. It has a V-12 5,998 cc engine producing 651 bhp that powers the vehicle from 0 to 60 mph in a mere 3.3 seconds onto a top speed of 218 mph. It has an estimated sale price of between $2,700,000 to $3,000,000.

So, if you fancy a few days break in Arizona and have an interest in classic and/or supercars then you may wish to attend the auction that takes place over both the above dates.

If you are looking to insure one of these types of vehicle then why not get in touch with us here at AIB Insurance on 02380 268 351 as we have many years experience in arranging cover on such cars and we will gladly provide a competitive quotation for your consideration.

Safeguarding Your Home Against Damage Caused By Bad Weather

Here in the UK, we are sometimes faced with some stormy weather with high winds and flooding being a feature. Apparently, according to the Association of British Insurers (ABI), property insurance companies pay out on average £8.1 million pounds every day to meet claims for damage to homes and replace contents.

Below are some of the things that property owners could do to possibly reduce the level of damage that storms can cause to properties and their contents: –

• It would be a good idea to monitor the weather forecast so that, hopefully, you are not caught out by the arrival of a storm.

• If it is being forecast that strong winds are on their way then you should check that no items are left loosely in your garden or elsewhere outside that could be blown around thus potentially causing damage to those items, your property, pets and people. Wherever possible, either make sure that the loose items are securely tied down or bring them inside say into your garage and/or garden shed.

• Make sure that there do not appear to be any loose roof tiles.

• Loose branches can be blown away in a storm causing damage so you could get a tree surgeon to remove them.

• Make sure that fencing and the posts surrounding your garden are secure.

• If you are in an area that is susceptible to flooding then you may wish to have floodgates fitted or buy some sandbags to protect your home against the ingress of water. You may also wish to move items of furniture upstairs to protect them against water damage.

• In the event of you having to temporarily move upstairs due to flooding, you may wish to ensure that there is a supply of bottled water and food upstairs that can be consumed until you are rescued. You may also wish to have things like medicines, blankets and a torch to hand.

• You may wish to drive your car onto higher ground to avoid it being damaged by floodwater if it is safe to take this course of action. If there is no threat of flooding but there are strong winds forecast you may wish to put the car in the garage if this is an option available to you.

• Have available contact details for the likes of the gas and electric suppliers, water authority, local authority and buildings and contents insurance company.

• Check that your drains and guttering are not blocked.

• Make sure that your water tanks and pipes are insulated to provide protection in freezing weather.

We trust that you find the above of benefit.

Should you wish to receive a competitive quotation for buildings and/or contents cover then why not get in touch with us here at AIB Insurance on 02380 268 351 and a knowledgeable member of our team will be pleased to assist without any obligation on your part.

Hot Air Ballooning With Falcons

Those of you involved in flying hot air balloons are well aware of the wonderful experience such a trip offers especially on a warm, clear summer’s day. The views are spectacular as you fly high above the countryside in the UK in peaceful surroundings.

Well, if that is not enough to please some of you interested in taking to the skies in a hot air balloon, how about a trip several thousand feet up using this mode of transport but where the journey also involves seeing a falconry demonstration that actually takes part from the basket of the hot air balloon. Such an experience is offered by a company in the United Arab Emirates.

It is claimed to be the first time that falcons have been used in this way anywhere in the world. The hot air balloon rises to 4,000 feet above the desert from where the falcons have been specially trained to fly from thus providing a wonderful demonstration of these magnificent birds. In addition to witnessing the falcons you also enjoy breakfast in the desert and go on a wildlife safari in an open top Land Rover built in the 1950s. The hot air balloon flight lasts for around an hour. Flights are available between October to the end of May. Possibly something to consider if you are planning a trip to the United Arab Emirates?

Here at AIB Insurance, we have many years experience in helping many of our customers arrange insurance for a variety of air borne modes of transport. So, if you are looking for cover either because you are considering taking to the air for the first time or have an existing policy that is shortly coming up for renewal why not give us a call on 02380 268 351 and speak with a friendly, knowledgeable member of our staff who will happily obtain a competitive quotation for your consideration.

Classic Aston Martin DB4 “Farm Find” To Be Auctioned

Worldwide Auctioneers Scottsdale auction takes place on the 18th January 2017 with one of the cars offered for sale being a 1961 Aston Martin DB4. However, this particular vehicle has the added appeal of being a “farm find”.

This classic sports car, despite being in need of restoration, has an estimated sale price of between $375,000 to $475,000. It has been owned by the same person for the last 45 years.

It has a 3,670cc six-cylinder engine that, in its heyday, was capable of producing 240 bhp. It was able to get from 0 to 100mph in less than 30 seconds reaching a top speed of 140mph. Therefore, it was an extremely powerful car.

Between 1958 and 1963 only 1,113 of these vehicles were built here in the UK. This particular classic sports car was built with a specification for the USA market in 1960 and transported to the USA in November of that year. The original owner of the vehicle took possession of it in April 1962.

The car spent decades in the outdoors at the current owner’s property until being found not too long ago. Its steering wheel is wood-rimmed and has wire spoke wheels. Its upholstery is black and its bodywork has been repainted green.

This classic vehicle sounds like it could appeal to a number of interested purchasers especially in view of its history. It will be interesting to see if it achieves a price within the estimated range or, indeed, if it sells for a higher figure.

Here at AIB Insurance, we have arranged quality cover on a number of classic cars over the years. So, if your classic car insurance is coming up for renewal or you are looking to insure a vintage motor purchase for the first time why not get in touch with us and speak with a knowledgeable member of our team who will gladly arrange a competitive quotation for you.

Following The 7,000km Flight Of The Bewick’s Swan – By Paramotor

Sacha Dench is a conservationist who, in mid-September, embarked on an epic airborne adventure called the “Flight of the Swans”. It involves travelling around 7,000km (4,349 miles) from the breeding grounds of Bewick’s swans in Russia following their migratory flight to Slimbridge in Gloucestershire here in the UK. The number of these elegant birds has dwindled over the years and it is hoped that this flight will provide some insight into why this has unfortunately happened.

She is employed by the Wildfowl & Wetlands Trust (WWT) as head of media and has over 8 years experience of paragliding and over 4 years experience of flying a paramotor.

She has been making the journey using a paramotor that, in very simple terms, consists of a cage, seat, harness, motor, propeller and a paraglider wing. Flying a paramotor means that you are exposed to the elements and, during the trip, she has encountered some pretty awful weather including blizzards and thunderstorms and extremely cold weather with temperatures dropping to minus 15 degrees centigrade at times.

Her journey is almost at an end as she is expected to land at Slimbridge around the 13th December having been ably supported by a number of volunteers. During her trip, she has flown over 12 countries that, in no particular order, are Russia, Latvia, Finland, Estonia, Denmark, Poland, Lithuania, Germany, Belgium, Netherlands, France and England. This week she crossed the English Channel becoming what is believed to be the first woman to do so in a paramotor as well as handing in a petition at Downing Street.

AIB Insurance wishes her well for the remainder of her journey.

It is also worth noting that we have many years experience in arranging insurance for a variety of airsports so why not get in touch with us and speak with a member of our team who will endeavor to obtain a competitive insurance quotation for your consideration.

World Skydiving Record Broken By Group Of Women

If you participate in skydiving then you may be interested to read that on Sunday 27th November 2016 a large group of ladies broke a skydiving world record.

This world record skydiving attempt was for the most number of women who descended vertically facing downwards holding onto each other in a formation. It took place over the desert in Arizona and involved 65 women. At around 6,000 metres, they jumped from a number of planes on the above Sunday morning. Whilst free-falling at great speed they eventually were able to manoeuvre themselves so that they were able to link each other’s arms and then rapidly descend vertically for several seconds. The group then broke up and, when safe to do so, their parachutes were opened and they all landed on the ground.

This world record attempt had been prepared for over the last couple of years. Various training sessions had taken place with the ladies participating in the jump coming from numerous countries around the world. There were a lot more than the 65 women who had wanted to attempt the record but quite a few were eliminated during trials.

Including additional training, it actually took 16 jumps spread over about a week before this particular skydiving world record was broken.

It will be interesting to see how long it will be before another group of women attempt to break the same record.

Whilst writing, we thought that you might like to hear of another skydiving world record that was recently broken. This took place on Thursday 17th November 2016 with this being Guinness World Records Day. Martin Rees, in the UK, skydived from several thousand feet and completed 11 magic tricks whilst doing so. He now holds the world record for the most number of magic tricks carried out in one skydiving descent.

Here at AIB Insurance, we are able to arrange insurance for a variety of air sports so why not give us a call on 02380 268 351 and speak with a knowledgeable member of our team who will be pleased to obtain a competitive quotation for your consideration.

Chancellor Announces Another Increase In Insurance Premium Tax (IPT)

Many of you will be aware that most general insurance policy premiums are subject to Insurance Premium Tax (IPT) at 10%. The sort of policies this applies to include the likes of, motor, home, private health insurance and pet insurance.

That’s all about to change as the Chancellor of the Exchequer announced in his Autumn Statement of a few days ago that this tax was being increased by 2% to 12% with effect from the 1st June 2017. This will be the third time this tax has been increased since November 2015. On the 1st November last year IPT went up from 6% to 9.5% – a rise of 3.5% and then it increased by 0.5% to 10% on the 1st October 2016.

This means that, if you are currently paying say £500 per annum for your motor insurance, say £400 per annum for your home insurance, say £300 per annum for your pet insurance and say £1,000 per annum for your private health cover then you would see your total premiums for these policies increase by £44 per annum which, if you pay monthly, means that you would have to find an extra £3.66 per month. This increase would exceed the forecast saving of £40 per annum that motorists may make if certain changes proposed by the Government were made to how whiplash claims are dealt with as referred to in our news article of the 17th November 2016.

This announcement has not gone down well with many in the insurance industry including the Association of British Insurers (ABI) that is concerned how hard it will hit some people. Of course, this increase will particularly affect those who are paying the highest premiums for their cover such as young drivers and motorists living in some inner city areas. Unfortunately, this rise may result in more uninsured drivers on our roads.

The ABI estimate that in excess of 50 million policies will be affected by this increase. Apparently, in Europe, the UK will have the 6th largest rate for IPT. It is estimated that by 2018/2019 Insurance Premium Tax will add around £6 billion to the Government’s “coffers”. The 20% IPT rate used for what some consider to be luxury insurance products including travel insurance, mechanical/electrical appliances insurance and even spacecraft insurance has remained unchanged.

The government will argue that the general cost of IPT throughout Europe is 19% but this does not take into account that the average motor insurance premium paid by UK’s drivers is significantly higher to begin with. In fact, the UK has the fourth most expensive average motor insurance premium in the world (behind the US, Austria and Germany).

It is to be hoped that this announcement does not encourage some policyholders to cancel any of their insurance policies as they no doubt provide valuable cover. In the case of motor insurance, it is a legal requirement that motorised vehicles are insured unless they are kept off the public road system and declared SORN (Statutory Off Road Notification).

Here at AIB Insurance, whilst we can obviously do nothing to prevent this increase in IPT, we will continue as we always have done to endeavour to provide our customers with competitive quotations for their insurance policies from the extensive panel of insurers at our disposal.