News

Zurich Private Clients Cover Improved

Back in 2016, we were pleased to add Zurich Insurance Group to our closely vetted panel of insurers with this including the Zurich Private Clients section catering for high net worth clients wishing to cover the likes of their luxury homes and expensive motor vehicles.

Well, we are pleased to inform our discerning clients that Zurich Private Clients cover has recently been enhanced. Below we provide details of some of the improvements that have been made: –

Home Insurance Enhancements

  • Home Emergency Cover totaling £1,500 has been added to the policy as standard with this covering emergencies such as water leakage requiring an approved repairer to attend 24/7.
  • New Acquisitions notification period has gone up from 60 days to 90 days.
  • Jewellery limit has gone up from £15,000 to £25,000 per item.
  • Sums insured for specified antiques, fine art and valuables is now index-linked on an annual basis.
  • Cyber Assistance cover has been added including damage to home systems due to a cyber event up to £100,000.
  • Antiques and fine arts limit has risen from £25,000 to £50,000 for each item.
  • Extended cover now includes contract works for up to the lesser of 20% of the sum insured or £1 million.

Motor Insurance Enhancements

  • Alternative transportation costs limit has risen from £3,000 to £5,000.
  • Breakdown cover is for named individuals on the motor insurance certificate as opposed to specified vehicles.

Any new customer taking out a Zurich Private Clients policy will benefit from these enhancements immediately. Existing customers with a Zurich Private Clients policy will benefit from the above enhancements immediately with the exception of cyber and home emergency cover that will be incorporated at renewal from around December 2019 onwards.

The above improvements in cover can only be of potential benefit to our high net worth clients so they are most welcome. We are pleased to inform you that, since adding Zurich Insurance Group to our panel, we have been most impressed with the service that they have provided.

Over £1 Billion Per Annum Saved By UK Inland Flood Defences

Some interesting research has been carried out relating to the amount that is estimated is being saved in flood damage here in the UK due to the inland flood defences that have been put in place over the years.  The research was carried out by Risk Management Solutions (RMS) on behalf of Flood Re.

The research took into account many thousands of weather event simulations so an awful lot of work has obviously gone into producing the information. The research took into account the situation both without and with flood defences.

You may be surprised at just how much flood damage could be caused inland such as due to rivers breaking their banks. Apparently, it is estimated that with flood defences in place the cost of water damage could amount to around £0.7 billion. However, without flood defences in-situ it is estimated that the cost of damage caused by water could be in the region of £1.8 billion.

That is a huge potential saving of around £1.1 billion as a result of having inland flood defences in place.

An example of the benefit of having flood defences in place can be found in Bewdley, Worcestershire. This small, picturesque Georgian town has the River Severn running through it. For many years, on occasions, the river burst its banks and a significant number of homes and businesses running along the side of the river were flooded causing a great deal of flood damage to buildings and their contents as well as much heartache for the owners of those properties. That was until a few years ago when flood barrier defences were strategically put in place along the side of the river. Since then, there has not been a significant problem with flooding in that location.

Owners of properties within flood risk areas of the UK are likely to be charged more for their buildings cover so it may be a good idea to shop around. In that respect, why not get in touch with us here at AIB Insurance on 02380 268 351 and discuss your requirements with an experienced member of our team who will do all that he or she can to help source suitable, competitive, quality home insurance to cover both your buildings and any contents.

How to Import a Classic American Car

If you are a classic car enthusiast who has an interest in American motors and are considering buying one then you have a number of options. By far the easiest one is to purchase such a vehicle that is already located in the UK but if there is a car that has really taken your fancy but is situated over in the USA then you can arrange to buy it and have it imported to this country.

We have a number of clients who are the proud owners of such vehicles. In this respect, we thought it would be of interest to you if we asked our clients how they imported their vehicles from the USA and if they had any tips/advice.

Here is what one of our clients, Mr B, kindly had to say having recently imported this beautiful example of a 1965 Ford Mustang: –

 

You’ve imported a few American classic’s, what the secret to making it painless?

Personally I’ve always tried to keep it simple.  You can do it all yourself independently. You can book the cheapest container, book your own shipping, get someone else to load it but your giving yourself 8 extra jobs and if something goes wrong the whole pack of cards falls down.

I generally try to use one really competent shipper and give them the zip code, contact details and address and they do the rest.  They also need to know the length, weight and description.

The other key thing is to remember where you are shipping the vehicle from in the US too because the cost to ship from inland American can be as much as shipping the vehicle from the US to the UK.  Generally I buy one not too far from the shipping port so stick to New York, Seattle, San Francisco and Houston but obviously if I stumble across a real bargain I need to factor in the extra transport costs. “

 

Do you mind sharing with us the approximate cost of the car to purchase in the States and the variety of prices?

$17,500.

From $2000 (wreck) to $250000 (fully restored Shelby GT500)

 

Who did you imported it through? 

Schumacher Cargo Logistics who will do a door to door service or just to any UK port if you are able to pick-up.

 

Where did you purchased the vehicle from?

Mark is an ebay seller and mainly deals with Mustangs at Ford Chevy Classics.  He sent me lots of photos and a video of the car in action prior to the purchase.  Another eBay seller with nice cars Oldman Classic Mustangs in Texas.

 

What do you think the car would sell for in the UK? 

£20-25k

 

How much was the import tax and any other associated costs? 

Special one off 5% vat for old classic collectors’ cars if for personal use. Typically the total shipping costs and taxes vary but were £3k for this vehicle.

 

Your dream American muscle car to purchase? 

I already have a GT40 but always fancied a 57 Chevy Bel Air 2 door.”

Some of the things you will need to consider in respect of the above include: –

  1. Obviously, the greater the distance that the car needs to be transported the more it will cost to move it. So, you may wish to concentrate your search for a vehicle around the east coast of the USA rather than over towards the west coast.
  2. How it is transported will have a bearing on the overall cost i.e. whether it is by air or sea and whether it is transported in a container enabling the carrying of any spare parts or on a roll on and roll off (Ro-Ro) basis.
  3. You can arrange everything to do with the transportation yourself or you can leave it to an established transportation company with the later being the most expensive.
  4. You will wish to make sure that classic car shipping insurance is in place in case the vehicle is damaged whilst being transported.
  5. Once the car is in the UK, you have 14 days in which to let HM Revenue and Customs (HMRC) know.
  6. HMRC will advise you how much VAT and duty is payable. It is worth noting that importing a classic car that is less than 30 years old from the USA incurs VAT at 20% whereas if the car is over 30 years of age VAT is reduced to 5%.
  7. You will need to obtain vehicle approval to show that the car meets environmental and safety standards.
  8. The car will need to be modified to be used on UK roads and have an MOT.
  9. You will need to insure the car here in the UK.

In respect of the last point, here at AIB Insurance, we have many years experience when it comes to insuring American classic cars. Once the car is in the UK we can insure it on a chassis number.  No road cover is provided (although some insurers will let you drive to and from the MOT test centre if pre arranged and disclosed to them) whilst you contact the DVLA to register the vehicle.

Many thanks to Mr B and we hope that he enjoys his American car import for many years to come. If any of our other clients wish to share their experiences about importing a classic American car please feel free to get in touch with us.

94 Year Old War Veteran To Parachute Over Normandy

Those of you who have parachuted from 10,000 feet from a plane will be aware of the dangers of the activity. A number of things can potentially go wrong but the majority of parachutists make a safe landing suffering no injuries and thoroughly enjoy the experience.

However, there are very few people in their 90s who would dare take to the skies in a plane, jump from it at several thousand feet, free fall for a considerable distance before parachuting to the ground. Well that is exactly what a 94 year old second world war veteran intends to do on the 6th June 2019 to mark the 75th anniversary of the D-Day landing.

Harry Read is a very brave gentleman. Back on the 6th June 1944, whilst the Second World War was in progress, he was a young wireless operator. On that day which was the day of the D-Day landing he took to the skies and was parachuted into Normandy in France. Unlike many of his colleagues, he survived not only the landing but also the war. He later went on to head up the Salvation Army for a period of time.

Last year, in preparation for his forthcoming jump, he parachuted from several thousand feet here in the UK raising money for the Salvation Army.

All of use here at AIB Insurance wish Harry Read good fortune on the 6th June when he makes his parachute descent and hope that he makes a safe landing.

If you take part in parachuting on a regular basis then you may be interested to read that we specialise in arranging suitable cover. In this respect, why not give us a call on 02380 268 351 and speak with a member of our team who will be happy to discuss your requirements and arrange a competitive quotation without any obligation. We look forward to hearing from you.

Almost 3,000 UK Citizens A Week Claim On Travel Insurance For Medical Treatment Abroad

It is that time of year when people are looking forward to a much needed holiday abroad whether that is a week or two across the English Channel in France or Spain or further afield to the likes of the USA or Mexico. Unfortunately, not everyone bothers to arrange travel insurance that includes medical cover but having read the following statistics published by the Association of British Insurers (ABI) we are sure you will agree it would be sensible to do so.

According to the ABI, in 2018 there were 153,000 people who claimed successfully on their travel insurance policy for overseas medical treatment. That is not far off 3,000 people a week – a significant number.

The average amount paid out per medical claim reached a record level – £1,368. That is almost twice what it was 10 years ago when the figure was £768. That equates to around £209 million.

In total, £400 million was paid out last year relating to all sorts of travel insurance claims with an average amount of around £800 per claim with this being a record.

The amount paid out in 2018 for cancellation of holidays amounted to a huge £145 million. This was made up of 167,000 successful claims with the average amount paid per claim reaching a record level of £869.

£17 million was paid out to 79,000 people who had lost money or baggage with the average amount of a claim being paid out totaling £214.

In some cases, claims can run into tens of thousands of pounds so it is important that travellers have suitable cover in place. In one case, a couple on holiday in America were seriously injured having been hit by a drunk driver and the medical bill amounted to £587,000.

So, what has happened to premiums for travel insurance in 2018? Well, you would have thought they had increased but this is not the case as the average cost of travel insurance has fallen by £38 per annum.

You will be pleased to read that, if you are shortly to embark on an overseas trip, either on your own, with your partner or your family here at AIB Insurance we have many years experience in helping arrange suitable, quality, competitive overseas travel insurance to most countries around the world. 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 quotation without any obligation.

Chris Moon Joins AIB Insurance

Airsports Insurance Bureau is thrilled to announce strengthening our Eastleigh team further with the appointment of experienced insurance professional, Chris Moon.

Chris joins our busy team as one of our specialist Niche & High Net Worth Insurance Consultants adding his many years’ experience within the insurance broking industry.  His previous position was at Savage and Holdsworth in Romsey where he joined after 3 successful years at Aston Scott in Alton.  Prior to that he worked for over 12 years at Apex Insurance in Eastleigh (which during his tenure was purchased by Swinton Insurance).

He joins the team where he will deal with every aspect of an expanding, predominantly high net worth personal lines insurance broker, including motor, travel, home and commercial insurance.

A delighted Chris said:” This is a perfect opportunity for me to develop my career further in a fast-paced expanding broker.  I’m really looking forward to getting my teeth into and growing the high net worth motor and home book.

At AIB we pride ourselves on the quality of our staff and the professional relationships we are able to build with clients and insurer partners alike. 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. If you are interested in a position with us please send your CV and accompanying letter to info@www.aib-insurance.co.uk

Chris lives locally in Eastleigh with his partner of 19 years and 3 children.  Most of his spare time is taken up with the family and his claim to fame is he got to meet Rodd Hull and Emu as a child!

Becca Milles Joins AIB

We are extremely happy to welcome Becca Milles to our company. We have a busy and successful team of professionals at Airsports Insurance Bureau (AIB) and Becca joins as our Administration Manager.

Prior to joining us Becca had her own photography business with her own studio having graduated with a First Class Honours Degree from the Arts University at Bournemouth.

AIB representative Leah Burt confirmed “this is fantastic news for our company and our newest employee Becca is fitting in very well. She is a fast learner and adaptable and even been on a few staff social nights out. She will be a valuable asset within the team and enhance our clients’ experience when doing business with us”.

Becca lives locally in Chandlers Ford and her claim to fame is she once had dinner with both Danny DeVito and Elton John dressed in a chicken outfit. A childhood fact is when she was very young she once got a Tic-Tak stuck up her nose which despite every attempt, couldn’t get recovered until the Fire Service arrived!

AIB are fabulous at motor and home insurance so if you need a quotation, please call our team on 02380 268351 or please feel free to complete an enquiry form just now here: www.aib.co.uk

Good luck Becca and welcome on board!

An MP Is More Likely To Have A Driving Conviction

The price comparison website GoComapre.com has carried out some analysis of car insurance quotes over a 12 month period that reveals a Member Of Parliament is most likely to have a driving conviction than any other occupation. This may come as a surprise to many of you.

As you are probably aware, what you do for a living is one of the factors that affect how much a car insurance provider charges you for your cover. The greater the risk that you are perceived to be in danger of being involved in a road traffic accident the more you are likely to pay for your motor insurance.

 

Total Convictions

Their research revealed that 24.4% of quotes they looked at for Members of Parliament involved that person having one or more driving convictions. In second place were Sales Directors at 20.8%. In third place were Managing Directors at 19.7%. In fourth place were Bailiffs at 19.4%. In fifth place were Radio Presenters at 19.2%. In sixth place were Riggers at 19.1%. In seventh place were Money Brokers at 18.8%. In eighth place were Operations Directors at 18.7%. In ninth place were Company Chairmen at 18.2%. In tenth place were Surgeons at 17.6%.

 

Convictions for Speeding

If you look at the occupations that have the most speeding convictions it is interesting that 22.1% of car insurance quotes for Members of Parliament revealed such a conviction. In second place were Radio Presenters at 19.2%. In third place were Sales Directors at 18.9%. In fourth place were Managing Directors at 17.7%. In fifth place were Operations Directors at 17.4%. In sixth place were Bailiffs at 16.7%. In joint seventh place were Money Brokers and Company Chairmen at 16.6%. In ninth place were Surgeons at 16.5%. In tenth place were Chartered Surveyors at 16.3%.

 

At-Fault Claims   

The occupation with the most at-fault claims when looking at the above car insurance quotes was a Paediatrician at 17.0%. In second place was a Psychiatrist at 14.0%. In third place was an Usher at 13.1%. In fourth place was a General Practitioner at 12.4%. In joint fifth place were a Surgeon and Hospital Consultant at 12.2%. In seventh place was a Museum Consultant at 11.6%. In eighth place was a Radiologist at 11.5%. In joint ninth place were a Transcriber and Vicar at 11.3%.

All the above factors can impact upon how much a motor insurance provider charges you for the cover you require. It is important that when looking to obtain cover that you use the likes of an insurance broker that has an extensive panel of insurers at their disposal. In this respect, why not get in touch with us here at AIB Insurance on 02380 268 351 and speak with an experienced member of our team. He or she will discuss your requirements in detail so that a competitive quotation can be provided for your perusal and consideration. We look forward to being of assistance.

 

Kangaroo Attacks Paraglider In Australia

KangarooThose of you who are keen paragliders no doubt love the thrill and excitement of taking to the air and pitting yourself against the elements in the sky. Once airborne, you are faced with many challenges but this is just one of the many attractions of the sport.

Having spent some time travelling many miles paragliding, you are then faced with the danger of having to make a safe landing. Most paragliders land without a problem but some suffer broken limbs if they mis-judge their landing perhaps due to a sudden gust of wind putting them of course and leaving them stranded in the branches of a large oak tree.

It is no doubt a great sense of relief having put two feet safely on the earth without suffering any mishap. Surely nothing untoward can then happen?

Well, this was not the case for a 35-year-old paraglider over in Australia. Apparently, the man in question had enjoyed a wonderful couple of hours paragliding. He descended and both feet safely touched the ground at the Orroral Valley Space Tracking Station near Canberra. However, even before he had had the opportunity to gather his parachute and get out of his gear he saw a kangaroo skipping hastily towards him. Having then warmly greeted the approaching kangaroo the marsupial then proceeded to attack him not once but twice by punching him.

Fortunately, he did not suffer any serious injury and hopefully the unexpected experience will not have put him off paragliding in the future although he will no doubt be on the look out for any kangaroos in the vicinity of where he next plans to land.

Fortunately, coming face to face with a kangaroo is not something that paragliders taking to the air here in the UK are likely to encounter when landing although no doubt some people have probably come down in a field of cattle and felt a little uneasy.

Lady Accused Of Severing Hand And Claiming On Insurance Policy

Apparently, a female has been accused by the police force in Slovenia of deliberately getting a member of her family to help her cut off one of her hands. So, why would someone do such a thing?

Well, it is claimed that the 21-year-old lady, not too long ago, took out an insurance policy that would pay out in the event of an injury. This policy is believed to have provided cover in the event of such a claim for in the region of a lump sum of 400,000 Euros plus 3,000 Euros per month. We are sure that you will agree these are significant sums of money.

It is claimed that a circular saw was used to severe the woman’s hand from just above her wrist. We are sure that you will agree this does sound rather gruesome and, if proved to be correct, shows what extreme lengths someone will go to try to defraud an insurance company.

Apparently, the woman in question along with a relative of hers are in police custody and could end up spending as long as 8 years in prison if found guilty of what they have been accused of.

It is also claimed that some relatives of the woman who is under investigation got her to the hospital but did not bring the hand that had been cut off with them and informed hospital staff she had been sawing some branches at the time the injury took place. Subsequently, the lady’s hand has been located and re-attached to her arm.

If her and the detained relative are found guilty then they could face as long as 8 years in prison.

Here in the UK, a Personal Accident Plan will usually pay out a lump sum for a legitimate claim due to a certain occurrence such as the loss of a limb. If this is something you are interested in then why not give us a call here at AIB Insurance on 02380 268 351 and a member of our team will be pleased to discuss your requirements and obtain a competitive quotation for your consideration without any obligation.