News

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.

 

Motorhome Sales Increase

If you are the proud owner of a motorhome you may be interested to read that you are one of a growing number of holidaymakers who take to the road in such a vehicle to enjoy a break both here in the UK and overseas. According to statistics produced by the NCC that is the trade body for the motorhome, tourer, park home and caravan holiday home industries the number of people buying motorhomes rose in 2017 – in fact there has been a steady increase for a number of years.

Below are the statistics for new motorhomes registered here in the UK: –

2017                14,062

2016                12,332

2015                10,572

2014                  8,733

2013                  7,425

Below are the statistics for pre-owned motorhomes registered here in the UK: –

2017                55,449

2016                55,020

2015                48,839

2014                47,755

2013                45,572

The above organization also produced some interesting statistics for the number of new motorhomes registered in certain European countries that showed there has been an increase in certain countries when comparing 2017 with 2016: –

France             8.3% increase

UK                14.0% increase

Germany       15.5% increase

Italy               19.1% increase

It is estimated that there are in the region of 225,000 motorhomes being used here in the UK. Interestingly, there are about 555,000 touring caravans and 365,000 caravan holiday homes being utilized here in the UK. In 2016, it was estimated that people in Great Britain spent in the region of £2 billion per annum on caravan holidays and it is believed that about £6 billion is contributed to the economy here in the UK by the caravan industry every year.

Of course, as with most things that can be purchased, there is such a huge variance in the cost of buying a motorhome ranging from a few thousand pounds for a second hand vehicle to a six-figure sum for a brand new motorhome.

If you are considering investing in a motor home and it is not the type of holiday that you have tried before then you may prefer to hire such a vehicle for a week or two to make sure that touring around the UK and beyond is for you and your family.

Here at AIB Insurance we have many years experience in arranging motorhome insurance for numerous clients, We have a panel of reputable insurers so why not get in contact with us on 02380 268 351 and speak with a friendly, informative member of our team who will happily arrange a bespoke, competitive quotation without any obligation.

Military Jet Has Near Miss With Paragliders

If you participate in paragliding then you will be well aware that there are numerous risks relating to your sport that could potentially lead to a serious accident taking place resulting in injury or death.  Fortunately, such incidents are few and far between both here in the UK and elsewhere around the world.

Well, who would have thought that when four paragliders from the Avon Hang Gliding and Paragliding Club took to the air on the 26th January 2018 they were to have a close encounter with a military jet. In fact so close that one of the paragliders apparently claimed that the heat from the jet’s engine could be felt.

The encounter took place at around 12.33pm on the above date with a Royal Navy Hawk T1 military jet over Bratton Camp that is located near Westbury in Wiltshire at between 1,000 feet to 1,500 feet above the ground. The jet in question was in the throes of a practice bombing run.

Obviously the jet was travelling at a considerable speed and it flew between the four paragliders who were no doubt disturbed at such an incident. The near miss was actually filmed by one of the paragliders who had a camera on his helmet.

A comprehensive report was recently published by the UK Airprox Board a copy of which can be found on their website. We are sure that those of you who enjoy paragliding will find the report of interest. Apparently, the military jet pilot had not previously been aware that the four paragliders would be in the air. The cause was determined as being due to the pilot of the military jet not seeing the four paragliders and was assessed as risk category A.

Here at AIB Insurance we can arrange competitive quality insurance cover for those of you who enjoy paragliding. So, why not give us a call on 02380 268 351 and discuss your requirements with a knowledgeable member of our team. We look forward to being of assistance.

 

Many Classic Motorcycles Sold At Recent Auction

If you are an enthusiastic collector of vintage motorcycles then you may like to know that there were a number of interesting motorbikes sold at Bonhams The Spring Stafford Sale that took place at Staffordshire County Showground on the 21st to 22 April 2018. Below we mention some of the highlights of the auction but further details can be found on Bonhams website. Sales totalled £3,37,045.

A 1970 Clymer Munich 1,177cc TTS “Mammoth” motorcycle that had been restored to a very high standard was sold for £154,940. It is believed to be one of only 150 built in the USA so is very rare. It was capable of reaching a top speed of 120mph.

A 1973 MV Agusta 750S achieved a sale price of £96,700. It has an interesting colour scheme of red, white, blue and crimson so it definitely catches the eye.  Not many of these delightful classic motorcycles were built which is no doubt a factor in why it achieved the sale price it did.

Perhaps the star of the show was a 1931 Brough Superior 981cc SS100 motorbike that was sold for £264,700 exceeding its estimated sale price of £170,000 to £220,000. Three charities benefitted from the sale proceeds – Salvation Army, Royal National Lifeboat Institution and the Search and Rescue Dog Association. This fantastic classic motorcycle was originally owned by Edinburgh Police and had been in the same ownership for in excess of 50 years.

A rare 1926 Coventry-Eagle 981cc Flying-8 motorbike went for £65,340. It had been restored in the 1980s and its last owner had it in their possession since 2013.

A 1955 Vincent 998cc Black Knight & Steib 501 Sidecar was sold for £63,100. Again, this is an extremely rare vehicle. It had been in the same ownership since way back in 1961 but the individual concerned who is 80 years of age was finding it difficult to start this classic motorcycle.

A 1957 ex-works Cecil Sandford FB Mondial 250cc DOHC Grand Prix World Championship Winning Racing Motorcycle achieved a sale price of £92,220. It was raced by Adamo Tursin who was a national champion on 16 occasions.

If you are the proud owner of a classic motorcycle or are looking to buy one for the first time then why not get in touch with us here at AIB Insurance on 02380 268 351 as we can arrange bespoke, competitive insurance cover for your vehicle through our reputable panel of insurers.

Introducing Our Newest Team Member – Kerry Scoines

Airsports Insurance Bureau has strengthened its Eastleigh offices further with the addition of young businesswoman Kerry Scoines.

Kerry has just completed her education at Winchester University and has previous experience in customer service.  She joins our busy administration team where she will learn every aspect of an expanding, predominantly personal lines insurance broker, including motor, travel and home insurance.

A delighted Kerry said:” I am really pleased that I have been successful and given the opportunity to develop my career at AIB and look forward to helping out my friends and family when their car and home insurance is due for renewal too!”

At AIB we pride ourselves on the quality of our staff and the professional relationships we are able to build with all parties. We encourage our team to reach their full potential and give them the tools and resources for a rewarding career in a satisfying but demanding environment.

Kerry was born in London and relocated to Eastleigh, attending Crestwood Community School.  She loves fancy dress and whilst comes across as a cool, composed and tranquil young lady, at the weekends she plays front row for her ladies rugby team!

Some Car Insurance Premiums Reduce

Car insurance premiums have been showing an upward trend for quite some time but the Confused.com car insurance price index has revealed that, on average, the cost of fully comprehensive car insurance has dropped slightly during the first quarter of 2018 when compared with a year ago. The average premium paid by motorists for such cover was £768 per annum with this being a small reduction of £13 per annum when compared to the first quarter of last year. This equates to a drop of around 2%.

When you look at the cost of cover based upon someone’s age, the vast majority of age brackets have seen a fall in the amount charged by car insurance providers. On average, it is still the younger motorist who has to pay the most for their car insurance. For instance, an 18 year old is paying most with premiums costing on average of £2,114 per annum. A 17 year old is paying an average of £2,003 per annum but this is actually £118 per annum less than they were paying a year ago, whilst a 21 year old is being charged an average of £1,621 per annum to insure their vehicle with this being a rise of £38 per annum. A 34 year old has to pay an average of £655 per annum.

It is perhaps interesting that someone of 68 years of age has seen his or her car insurance premiums rise by an average of £40 in the space of 12 months to an average of £543 per annum.

On a regional basis, motorists in Inner London have seen the cost of insuring their cars drop by an average of £81 per annum in comparison to a year ago. That is a fall of 6%. However, they can expect to pay, on average, more than £1,000 per annum for fully comprehensive cover. However, a motorist living in the Scottish Borders has had to face an average increase of £32 per annum to an average of £579 per annum and drivers in North and Central Wales have seen their car insurance premiums go up by an average of £12 per annum in the space of a year to an average of £629 per annum.

Let us hope that the average cost of insuring a car continues to drop in the coming months. However, it is important that motorists try to obtain the right level of cover from an insurer that provides an excellent service including when it comes to processing claims and for a competitive premium. In this respect, you will be pleased to read that, here at AIB Insurance, we have an extensive panel of insurers that can hopefully meet your exacting requirements. So, why not give us a call on 02380 268 351 and speak with a knowledgeable, friendly member of our team who will do all that he or she can to obtain a competitive quotation for your perusal without any obligation.

How To Reduce The Possibility Of Your Motorcycle Being Stolen

There are just under 1.3 million motorcycles registered here in the UK and, unfortunately, it is estimated that in the region of 30,000 are stolen every year – that is 2.3%. Regrettably, only about 40% of the motorcycles stolen are believed to be recovered and returned to their legal owners

So, what can you do to reduce the possibility of your motorbike being stolen? Well, it will come as no surprise to read that there is an awful lot of advice on the Internet but below we mention some of the things that can be done to help deter the theft of your beloved bike.

Cover

A thief is often looking for a particular model of motorbike to steal so a cover should act as a deterrent. In view of the additional time taken to remove a cover that should also put off some thieves.

Lock/Chain

A grip lock will secure the throttle and brake controls and a disc lock will assist in securing the front brake disc. Thread a chain lock through the back wheel.

Alarm

A Thatcham approved alarm system incorporating immobilization and tracking devices should help act as a deterrent but also locate the vehicle should it be stolen.

Mark the parts

Property marking the parts should help deter the thief as the parts would be difficult for a thief to sell. The parts can also be identified as coming from a particular stolen bike.

Parking your motorcycle

If you are out and about on your bike perhaps to go for a meal on an evening then don’t park it in a dimly lit side street. Instead park it in a well-lit car park or in a well lit street along which there is a regular flow of pedestrians.

Where to keep your motorcycle at home

Either leave it in your locked garage or locked shed. In addition, why not have a ground anchor fitted.

If you do not have a garage or shed then park it in a visible location in a well-lit place and make sure it is secured perhaps to a lamp post.

Motorcycle Insurance

You will obviously want to make sure that you have quality motorcycle insurance in place. Here at AIB Insurance, we have an extensive panel of insurers so why not give us a call on 02380 268 351 and speak with a knowledgeable, friendly member of our team who will discuss your requirements and obtain a tailor-made quotation for your consideration.

Daimler Parts Unearthed In Back Garden

If you are doing a bit of digging in your back garden you expect to come across a few small stones, maybe some pieces of glass or perhaps a broken brick or two left by the builders. However, what you do not anticipate coming across are parts of a classic car believed to date back several decades.

Well that is exactly what a couple of people over in Guernsey discovered whilst shoveling soil, rubble and rocks in a back garden A gentleman by the name of Brian Russell and his daughter called Tracy Ward must have been somewhat surprised to unearth various parts of a classic car – a Daimler no less.

Pieces of metal came to light including a bumper for the front of a car, a chassis and window frames as well as a variety of other car parts. In fact, Mr Russell believes that there are other parts of the Daimler that remain buried beneath the ground.

 

 

 

It is possible that the classic vehicle may date from the 1940s to 1950s so it is quite an age. It certainly begs the question as to why someone would bury such parts under a rockery. Who knows what the vehicle’s history is. Do the car parts have any monetary value? Perhaps there is someone in the locality who can shed some light on how it came to be there?

It will be interesting if anyone expresses a wish to take possession of the parts. Will it be possible to re-build the vehicle using the car parts that have been and are yet to be discovered? Presumably, many of the metal parts will have deteriorated over the years due to the conditions they have found themselves in possibly for a number of years. It has to be said that this is a little different to a barn find that tends to happen more frequently than the discovery of a car underground.

New Car Sales Drop

Unfortunately the sale of new cars here in the UK has not been going well for quite a few months now. If you are involved in the buying and selling of new vehicles you would have been hoping that things would have picked up in March 2018 as it is one of two months in the year when cars are issued with n amended registration number – last month it was the “18” plate.

Regrettably, March was not a good month for new car registrations according to statistics produced by the Society of Motor Manufacturers and Traders (SMMT) here in the UK.  Only 474,069 new cars were registered last month with this figure being way below the number of new cars registered in March 2017 when 562,337 were registered – a fall of over 15%. We are sure you will agree that is a significant reduction and one that will no doubt concern the motor trade.

There has been a dramatic drop in the number of people buying new diesel cars that is apparent from the figures produced by the SMMT. In March 2018 only 153,594 new cars sold were fuelled by diesel whereas in March 2017 the figure was 244,593 – that is a fall of over 37%.  The sale of new Alternatively Fuelled Vehicles (AFVs) has continued to go up from 22,818 in March 2017 to 24,126 in March 2018 – a rise of 5.7%.

Private new car sales fell from 272,719 in March 2017 to 228,623 in March 2018 – a large drop of 16.5%. Fleet new car sales dropped from 261,941 in March 2017 to 222,595 in March 2018 – a fall of 15%. Business new car sales fell from 26, 677 in March 2017 to 22,851 in March 2018 – a reduction of 14.3%.

The top 3 selling cars in March 2018 were: –

  1. Ford Fiesta 19,272
  2. Volkswagen Golf 13,966
  3. Nissan Qashqai 12,018

There are many thousands of people employed in the motor trade industry so let us hope that the sale of new cars here in the UK picks up in the coming months. If it does, this may avoid some people loosing their jobs in the motor trade.

Record Set For Average Amount Claimed On Motor Insurance Policies

Car CrashThe Association of British Insurers (ABI) has recently published some interesting statistics relating to claims on motor insurance policies. Specifically, it has revealed that the average amount paid out last year for each motor insurance claim was the largest amount since records started to be kept for this sort of cover.

The figure was £2,936. Apparently, a couple of reasons why this sort of cover hit a record was down to the fact that the cost of repairing a motor vehicle has gone up as well as the amount paid out to meet claims when a car is stolen has risen which happens all too often.

Last year, a staggering £8.1 billion was paid out by insurers to meet all motor insurance claims. This was a similar figure to 2016. It would be potentially good news if the amount of such claims fell in 2018 and beyond as this is one of the many factors that affect how much insurance companies charge for their car insurance. Perhaps if the amount paid out for claims was to fall, we may see a reduction in the cost of our motor insurance policies.

Another interesting statistic is that the average amount paid out for a claim in respect of personal injury was £10,816 in quarter four of 2017. This is a large sum and is also a factor that Personal Injurydictates how much a motor insurance provider charges new and existing customers who renew their cover. Again, it would be lovely if we were to see the average amount paid out for a personal injury claim to drop as this is another factor that may impact on the amount motor insurance providers charge for their cover.

Apparently, the number of claims submitted for personal injury dropped slightly in 2017 when compared with 2016. Of the claims submitted, there were 320,000 that insurers agreed to pay out for.

Of course, policyholders would prefer not to have to be faced with having to claim on their car insurance policies but when they do it is important that they are confident that the insurance company the cover is arranged with will pay out in the event of a claim as quickly and effortlessly as possible. So, if you are looking for quality motor insurance that is not only competitively priced but also where the insurance company is well known for the number of claims that they agree to meet, then why not get in touch with us on 02380 268 351 and a member of our team will gladly do all that he or she can to assist.