The car of the week this week is the stylish MGB GT!
The epitome of a classic British roadster, the MGB GT was in production for 18 years without a single alteration to iconic body shape. This sought after vehicle was the best selling MG model of all time! A car built to drive on the track the windscreen was specifically designed for track specifications.
Mr A knows his classic MGB GT will always be safe to take the racing line with thanks to his caring insurance package from AIB giving him agreed value, choice of repairer and salvage retention! If you have a beloved classic car of your own than think no further than AIB insurance.
If you have a classic car be sure to call our friendly motor team on 02380 268351 for a bespoke quotation covering all your needs.
The Car of the Week this week is the 1999 Nissan Skyline GTR R34!
This nostalgia inducing car, made iconic through it’s roles in many motoring movies including fast and furious, more importantly its unique engineering using twin ceramic intercooled turbo chargers to remove all turbo-lag. This beautiful car also used six individual throttle valves to allow each cylinder to act as singular engines.
Mr H was kind enough to take out this policy with us, which includes both the benefits of salvage retention and agreed value.
Thank you Mr H for allowing us to share! If you have a Skyline of your own that needs insurance, please call our specialist team today on 02380 268351.
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.
We interviewed Kirby from AIB Insurance, a motorhome, campervan and RV specialist to talk about the latest happenings in the world of insurance:
Are you seeing anything interesting with Motorhome and Camper claims?
The last 24 months have been challenging times for insurers with motorhome, RV’s and camper thefts on the increase. Take North Wales for example – police recently revealed that 30 vehicles worth over a million pounds had been stolen over the past 16 months. They believe thieves in that area were mainly targeting Fiat Ducato and Peugeot Boxer motorhomes using technology widely available on the Internet to override the manufacturer’s security measures that included the electronic immobiliser.
On a national basis though, Ford continues to be the vehicle of choice for most thieves. Our insurance partner Ageas Insurance tells me Ford manufactured motorhomes make up less than 6% of their motorhome book but the theft rate is ridiculously high. There is no pattern as to where the motorhomes are kept, how long they have been owned or the level of security measures as they’ve seen a variety of scenarios. They have had over £350,000 worth of Fords stolen last year alone which is why they took the decision to work out what model ranges/years of manufacture were affected and decline them.
According to the Association of British Insurers (ABI), motor theft claims have increased by 20% in 2019 and motor theft claims paid by insurers in the first quarter of this year were at their highest for any quarter since 2012 with a payment made relating to vehicle crime every eight minutes. The ABI claims that the increase is in part being driven by keyless car crime whereby hi-tech criminals are able to bypass keyless technology in as little as 20 seconds. This would certainly seem to be the case with a large number of motorhome thefts as an increasing number are being stolen when they are parked on driveways.
Has this seen the cost of insurance increase?
Historically, motorhomes have been rated on three main factors: year, engine size and value (ignoring left hand drives, imports and modified vehicles etc.). Over the last 12 months, three major motorhome insurers, Aviva, Ageas and Markerstudy have taken the unusual steps to load the premium further or even decline specific years of manufacturer, especially Ford.
Generally, motorhome and campervan insurance rates have remained stagnant apart from specific manufacturers. DIY conversions tend to cost more to insure than a coach built one.
So how can owners prevent a vehicle being stolen?
If your motorhome is stolen, having the right insurance policy in place will mean that you can at least have the peace of mind of knowing that you’ll be compensated financially for your loss. However, an insurance payout can never compensate you for the inconvenience and disruption that vehicle theft causes.
The good news is that most theft is opportunistic and thieves generally don’t like to work too hard. So, if they see a motorhome fitted with wheel locks, steering or handbrake locks or wheel clamps, it may be enough to put them off. Of course, you can go further by installing an alarm, immobiliser, a tracking device or even installing PIR lights trained on your parking space that illuminate when they sense movement.
What should people look out for when insuring a motorhome, RV or campervan?
It is vital, that you take out appropriate motorhome insurance and select a policy that will cover all your needs.
Motorhome insurance is not like car insurance, it requires specialist knowledge and as such, you should speak to a specialist motorhome insurance provider. Most specialists will provide additional European cover, additional contents cover and cover for gas cylinders, generators and awnings.
We would encourage you to purchase legal expenses as, if you find yourself in a dispute, legal fees can be expensive. Likewise, breakdown cover can be challenging as non-specialist providers may place a height, length or weight restriction on the vehicle they cover.
Another thing to mention when buying cover, is the level of windscreen glass cover that the specific policy your purchasing provides. Many insurers restrict the windscreen cover to £500-£1000 but an owner of an A-Class could be left short and should seek insurers that provide unlimited glass cover.
The motorhome market continues to grow especially relating to the sale of higher value models that cost over £100,000 and that represents a different risk for insurers if they go missing.
What is happening in the classic car world – are vehicles still going up in value?
The classic vehicle market is renowned for its stability and consistency and the VW campervan is a prime example of that. Over the past 10 years, classic vehicle values have been consistently going up, outperforming just about everything I can think of apart from vintage wine. I’d argue that classic vehicles are a better investment here too as it’s possible to use them without instantly destroying their value!
That said, at the top end of the market such as Ferrari, Lamborghini and the like, it looks as though we’re finally seeing the pace slowing and interest levels cooling.
One element of this could be uncertainty. When it comes to high value classics, it’s a global market. Investors may simply be less prepared to spend big at a time of trade wars and uncertain future trading arrangements.
The classic vehicle market is forever evolving as new cars become classics as each year passes.
What’s your favourite classic within the motorhome and campervan arena?
I love the 1967 BMC Princess – it looks bonkers. Whilst it looks like a DIY conversion, it was actually coach-built on a Vanden Plas Princess chassis but was unusually modern for it’s time enjoying power steering and an automatic transmission. Another favourite would be the VW T25 hightop campervan. Again, it looks so cool and I can imagine myself sitting in it with a hot cup of tea on a cold day looking out over the ocean.
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.
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%.
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.
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.
The 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 dictates 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.
During wintry conditions such as snow and ice you are possibly more likely to be involved in a road traffic accident. However, you also need to be more prepared should you break down and find yourself caught up in adverse weather. Here in most parts of the UK, we are fortunate that we do not usually get many days when the weather is very poor but it is still a sensible thing to plan for such an eventuality.
So, what sorts of things should you consider carrying in your vehicle at this time of year here in the UK? Well, the following list is not exhaustive but should hopefully be of assistance to you.
1. First aid kit – this should be carried in your car throughout the year.
2. Mobile phone along with a charger so that you can contact the emergency services, family and friends should you require help.
3. Spade to clear away ice/snow should you be unable to pull away in slippery conditions.
4. De-icer and ice scraper to keep your car windows free of snow and ice.
5. A blanket to wrap around you or a sleeping bag to slip into should you have to spend the night in your car until help arrives. This will help you to keep warm in freezing outside temperatures.
6. A couple of reflective warning triangles with one being placed several yards in front of your stranded vehicle and the other a similar distance to the rear of your car.
7. A torch along with batteries that could be used to help attract attention or light up the inside of the car.
8. An atlas should you get lost in inclement weather.
9. Chocolate bars for nourishment as well as fluids to drink – ideally a flask of hot tea or coffee.
10. Extra clothing such as jumper, waterproof coat, hat, socks, trousers and gloves.
11. A pair of boots in case you need to walk through deep snow.
12. A whistle may prove useful if you needed to attract attention whilst stranded.
13. Jump leads should your battery have run flat and you need assistance to get you started.
14. Fuel canister should you run out of petrol/diesel and it be safe to walk to the nearest service station to fill it up.
There may well be some other things that you feel it is a good idea to bring with you but we hope that the above list is of benefit.
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.
AIB Launch Classic Car Offering
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