The car of the day today is the wonderful Lotus Elan + 2.
Mr B has a fantastic policy with agreed value, choice of repairer and also salvage retention through ourselves here at AIB.
The Elan +2 was introduced in 1967 with a longer wheelbase and 2 rear seats. 5,200 Elan +2were made. The Elan +2 ceased production in 1975. Because of its successful design and rigorous attention to cost control on the body, chassis, engine and transmission, the Elan went on to become Lotus’ first commercial success, reviving a company stretched thin by the more exotic and expensive to build Lotus Elite enabling funding of the Lotus success in racing over the next ten years.
Thank you for sending these lovely photos Mr B!
We specialise in classic car insurance so remember to call us on 02380 268351 for all your classic car needs.
In a world of headlines reserved for the powerhouse GT2, GT3, RS, Turbo and Turbo S models,how do you make that bread and butter 911 Carrera special, you call Porsche Exclusive Manufaktur. The all-new 2020 Porsche 911 (Generation 992) Targa 4S Heritage Design is the first of 4 classic-inspired special editions and announces the expansion of Porsche’s ‘bespoke tailoring’ Exclusive Manufaktur division.
The expansion of Porsche Exclusive Manufaktur follows on from the global success of the limited-edition 911 (Generation 991) Speedster Heritage Design, which since its launch have been trading at upwards of £300k (£200k list price). The Speedster’s Heritage Design concept provided a perfect testbed for how the design features would work on Porsche fans and customers. Porsche are planning 4 special editions from Exclusive Manufaktur over the course of the 992-generation 911’s lifetime. These will appear on different 911 variants and celebrating different designs from the 911’s history, blending modern 911 technology with design elements of the past.
The 992 Targa was the perfect model with its retro Targa styling to be the first Heritage Design production model. It is launched with details from the 50s and 60s, with an exclusive Cherry Red paintwork, inspired by the early shades of the Classic 50’s Porsche 356. The Porsche logo is in its old font and brake callipers in black, as back in the 50sthere weren’t any red or yellow brake callipers. A major design feature is the historical white livery and lollipop number stickers on the doors, where customers can specify any numbers. The Heritage Design continues into the interior with red leather and corduroy seats, as used in the 356, along with interior and exterior parts in gold trim as they once were. A unique badge on the rear lid has been reintroduced, which were given back in the day to 356 owners who had reached 100,000km in their cars.
The 911 Targa 4S Heritage Design is limited to 992 global units, which is the eighth-generation 911’s internal designation. UK prices start from £136,643, with UK deliveries expected to start in the autumn. It is £26,918 more than a standard Targa 4S, with customer likely to add a sizeable number of additional cost options extras to their final specifications. It shares the same mechanical unchanged specification from the Targa 4S’s chassis and powertrain, paired with either the eight-speed PDK or seven-speed manual transmission. Deploying it’s 444bhp 3-litre twin-turbocharged flat-six engine and all-wheel-drive system to 189mph and a 0-62mph in 3.6 seconds.
The Porsche Exclusive Manufaktur team expect the future rollout of these bespoke models to be up to two years before the next car. Porsche Exclusive stands for passion and craftsmanship, so keeping these models exclusive is key to that strategy. The future range expected to look back at the 60s, 70s and 80s based on other 911 variants. These special editions appeal to customers who are fascinated by Porsche’s rich heritage, its classic design features and want these in modern cars. This might also inspire people who have not considered a Porsche 911 with this heritage style that brings back something cool from the past.
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 email@example.com
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!
The Association of British Insurers (ABI) has produced some interesting statistics in November relating to motor insurance claims. The data reveals that there has been an increase in the amount paid out so far in 2018 when comparing the same period in 2017. In fact, a record amount has been paid out so far this year.
So far this year, motor insurance providers have paid out an average of £23 million every day. This is a sizeable sum of money.
This means that, so far in 2018, £6.4 billion has been paid out to motorists who have submitted motor insurance claims to their insurers. It is interesting to read that this figure is 4% more than the amount paid out to meet motor insurance claims in the same period in 2017.
There have been 41,000 claims settled so far this year by motor insurer providers with this being a rise of 11% when compared with the same period in 2017. Some £3 billion was spent on motor repair bills with this being an extra 5% when comparing the figures for the same period in 2017. The average payout per claim is £2,137. This may seem a high figure but one of the factors impacting on increased payouts is because many cars built now come with things like reversing sensors and the cost of replacing them is quite significant.
It is concerning to read that the amount paid out in claims as a result of vehicle thefts so far this year is £271 million. That figure is high and a staggering 32% more than for the same period in 2017. It is no doubt a traumatic experience to get back to where you last parked your car perhaps to do some shopping only to discover that it has been stolen. Thank goodness for motor insurance.
Let us hope that the above data does not result in a greater number of people seeing their car insurance premiums increase at renewal. If you receive notification that your premium is going to go up then make sure that you are ready to obtain one or more quotes from other providers to compare with the cost of your existing cover. Here at AIB Insurance, we have an extensive panel of insurers who we can obtain one or more competitive motor insurance quotes from for you without any obligation to proceed. So, why not give us a call on 02380 268 351 to discuss your requirements with a member of our team.
Over the past couple of years there has been an upward trend in the cost of insuring motor vehicles. This is possibly something that you have noticed when receiving your renewal notice and, if so, has hopefully triggered you to seek comparative quotations through the likes of ourselves to see if we can find you a better deal from another provider.
Well, the Association of British Insurers has recently produced the ABI Premium Tracker that monitors what the cost of motor insurance has been over an extended period of time. Apparently, the average premium paid for fully comprehensive cover throughout 2017 was £481 per annum. This was an increase of 9% in comparison to the cost 12 months ago that, in monetary terms, equated to a rise of £40 per annum.
Another disturbing statistic is the fact that the average cost of insuring a motor vehicle increased by a staggering 29% since back in 2014.
There are a number of factors that have caused this increase in the cost of motor insurance. For instance, repair costs of vehicles have gone up, there has been a rise in the number of people seeking compensation for whiplash injuries, Insurance Premium Tax has gone up and there has been a change in the calculation of compensation payouts.
The ABI is encouraging the Government to stop increasing the Insurance Premium Tax, make changes to how claims for lower value claims for whiplash are dealt with and also to look at the Ogden Discount Rate which is used to work out what compensation someone should receive who has suffered a significant injury as a result of a road traffic accident. These things are all with a view to potentially reducing how much someone pays for their motor insurance.
So, is there anything that you can do to mitigate such an increase? Well, you may wish to consider shopping around for cheaper cover but if you do, make sure that the level of cover meets your needs.
Here at AIB Insurance, we have been able to help arrange car insurance for a number of customers at a lower premium than their existing insurer has been charging them so why not give us a call on 02380 268 351 to discuss your requirements and obtain a quotation without any obligation.
We are pleased to inform you, our valued customers, that we have added Chubb Insurance to our bespoke panel of insurance companies. It has built an enviable reputation for the products and services it provides.
Chubb has been established for many years and is part of the biggest property and casualty insurer in the world. Here in the UK, the business focuses on a number of insurances including motor, home, accident and health, travel, aviation, the biogas and solar industry, commercial insurance, cyber risk, the construction industry, the marine industry and liability cover.
The company has been involved in providing motor insurance to high net worth individuals for over 20 years and household insurance to such customers for over 40 years.
In a very short period of time we have built up an excellent working relationship with Chubb. It prides itself on its quality of service right throughout the process of arranging tailor-made cover but also the company responds rapidly in the event of a claim being made by one of its policyholders providing unrivalled support during what is often a traumatic period.
In fact, in respect of household insurance, since 2000, Chubb has won the Insurance Times Industry Awards for Best Personal Insurer on no less than 8 occasions. It was the winner of the Insurance Times Broker Survey for Best Claims Service on 6 occasions since 2006. Furthermore, Chubb won the Best High –Net Worth Insurer award at the 2015 Private Asset Management Awards. In respect of motor insurance, Chubb has been the winner of the Insurance Times UK Broker Survey for the quality of its claims service and cover since 2014.
You can find out more about the products it provides by visiting the www2.chubb.com/uk-en website but below we have provided extracts from Chubb’s Home and Contents Insurance, Jewellery and Fine Art and Motor Insurance brochures highlighting some of the features and benefits of both products.
“ Chubb Masterpiece Home and Contents Insurance
What does it cover?
• All of your homes, UK and abroad are covered on the same policy as your main residence.
• With our agreed value approach for valuables and cars, the result is accuracy and a speedy claims payment.
• Following a Chubb appraisal, we will agree on the buildings and contents sum insured, including automatic cover for gardens and outbuildings.
• For most homes, we guarantee that, whatever the cost, we will rebuild your home exactly as it was. In effect, giving you unlimited cover.
• We let you choose the craftsmen for any repairs and refurbishments.
• We also agree the contents sum insured. Then, for most homes, if this sum is insufficient to replace the contents, we will automatically increase it by up to 25% without charging you more.
5 key benefits of Masterpiece
1) Your choice of contractor
We encourage you to choose your own contractors and craftsmen to repair your property following a claim.
2) Unique home and contents appraisal service
We don’t make underinsurance your problem. Our in-house experts will help establish the value of your property and contents to ensure you have the right amount of cover.
3) No restrictive conditions or warranties
We won’t limit your cover or restrict your lifestyle with onerous clauses. We rely on your natural concern to care for your possessions
4) We settle on a ‘new for old’ basis
When replacing your contents, Chubb pays you what it costs to replace the item today up to the value agreed on your policy
5) All homes on one policy
Whether you own a country house and a city apartment or an extensive worldwide property portfolio, you can enjoy exceptional cover under the same policy as your main residence.”
Within the Chubb Masterpiece Home and Contents Insurance policy it is possible to insure Jewellery and Fine Art and below we highlight what is covered: –
“ Jewellery and Fine Art
• You have automatic worldwide cover for ‘all risks’ with almost no restrictive conditions. Our policy includes accidental loss or damage and you’re covered when travelling – eliminating the need for separate personal effects cover.
• If your jewellery is lost, stolen or damaged beyond repair, our ‘agreed value’ for specified items gives certainty about the financial consequences in the event of a claim. We’ll pay you the full sum insured (not a depreciated ‘market value’) with no deduction for excess. There’s also a lower premium rate for specified jewellery.
• If you lose or damage part of a ‘pair’ or ‘set’, we’ll offer to take the remaining parts and we’ll pay you the full agreed value of the entire set.
• If your jewellery loses value after damage we’ll compensate you for any loss in its agreed value due to the claim.
• Under our Signature policy, if you buy a new piece, we’ll cover new purchases immediately for 90 days, 60 days under our Initial and Masterpiece policies. After the 60 or 90 day period, we must be instructed to add the items to the policy to avoid underinsurance.
• No valuations are necessary for jewellery under £50,000 and we can insure collectables separately.
• Similar generous terms apply to art, antiques, guns, wine, instruments, handbag collections and other collectibles.
Chubb’s Masterpiece Motor Insurance
What does it cover?
If your car is written-off or stolen:
• With our ‘agreed value’ approach, we’ll pay you the full sum insured with no excess, not a depreciated ‘market value’.
• If the car is under 15 years old and its replacement cost exceeds your agreed value, we will pay more than the sum insured to help you buy a like-for-like replacement.
• If the car is over 15 years old, subject to a limit of £100,000, we will pay 25% more than the sum insured to repair your cherished vehicle and get it back on the road.
• All courtesy cars are immediately dispatched after fire, theft or accident. We provide up to £4,000 for you to rent a car of a similar specification to your own, in the unlikely event that the courtesy car is unsatisfactory to you.
• We’ll replace your sound system for the full cost, with our unlimited audio/stereo cover.
As well as for driving your own cars, you’ll be comprehensively insured for:
• Driving any car you don’t own (applies to all named drivers).
• Lending your car to anyone not living with you.
• Business trips (except hiring your car for a fee).
• Driving in Europe at any time. Insurers will often limit this to 30 days.
If you break down:
• You’ll have Europe-wide breakdown cover for you and your family, including HomeStart.
In addition to this, you can also expect:
• Solicitor’s fees when pursuing a claim for personal injury or uninsured losses of up to £100,000.
• Child seat replacement after an accident, even if there’s no visible sign of damage.
• No premium increase or loss counted against you when the loss isn’t your fault, for instance due to vandalism or if your car is hit when parked.
The key benefits of Masterpiece
1) Diminution In Value cover Diminution In Value (DIV) is a pioneering new cover that pays the policyholder the difference between their car’s market value before and after a repair, as well as the repair costs. The cover applies to cars over 15 years old and will be paid out if the car has been valued or purchased at least 24 months before the loss.
2) We pay the agreed insured value
Most insurers settle total loss and theft claims based on the market value of a vehicle at the time of loss. Chubb provides “agreed value” cover, so the value of your car is locked in for the entire policy term. If you need to make a claim to replace your vehicle, you’ll receive 100% of the value we agreed whether it’s Day 1 or Day 365 of the policy.
3) Automatic comprehensive cover on borrowed vehicles
Insurers often only provide third party cover when you borrow another vehicle. With Chubb, you and other named drivers enjoy fully comprehensive cover on any vehicle you rent or borrow. And anyone driving your insured car is fully covered.
4) You choose the most suitable repairer
Most insurers stipulate where your vehicle should be repaired. Chubb allows you to select the most suitable garage, dealer, upholsterer or coachbuilder, or we can help you select one from our approved repairer network and we’ll guarantee the use of original manufacturer’s parts. “
Here at AIB Insurance, we look forward to a long and successful working relationship with Chubb Insurance that will no doubt be of great benefit to many of our high net worth customers. So, if you wish to discuss any of the above insurances and require a quotation, why not give us a call.
Airsports Insurance Bureau Limited are pleased to announce that Tansar Insurance has joined our panel of insurer partners.
Tansar are a specialist motor underwriting agency able to write a variety of the UK’s motor products. Some of those products include non-standard car and van insurance, specialist vehicles such as motorhomes or kit cars, motor cycles and high and mid net worth cars. They offer a wide range of benefits across all their products ranging from new vehicle replacement to personal accident benefits.
AIB Spokesperson Leah Burt commented: “We have known the management team at Tansar for many years and share the same passion for providing expertise and a true commitment to customer service and product provision. We are looking forward to forging a mutually beneficial, profitable relationship for our ever growing client bank to enjoy.”
Airsports Insurance Bureau (AIB) is a trading style of Airsports Insurance Bureau Limited. Registered in England No. 2854801. Airsports Insurance Bureau Limited are Authorised and Regulated by the Financial Conduct Authority, firm reference 312153