Author Archives: AIB

The Difference In Rental Paid Between Furnished And Unfurnished Properties

Whether you are a landlord or a tenant, you may be interested to read about some research that has been carried out that looks at the difference charged by landlords for furnished and unfurnished two bedroom flats in different cities in the UK.

There are pros and cons of both types of property lets for both tenants and landlords such as a furnished property may appeal more to a single tenant who is moving around the UK on a very frequent basis as he or she may not want to be bothered with the prospect of having to move their furniture frequently. However, a family looking for a long-term rent may prefer to bring their own furniture with them every time they move. A landlord may find it easier to rent out a furnished property and the additional rental income emanating from a furnished property may far outweigh over a period of time the initial financial outlay of buying the furniture and white goods.

The city in the UK where there was the biggest difference between the rental income charged on furnished and unfurnished two bedroom flats was Sheffield. The difference in that city was an average of 21%. A furnished property was being rented out at an average of £726 per calendar month whereas an unfurnished property was being rented out at an average of £598 per calendar month – a difference of £128 per calendar month.

In London the difference was 9% with this equating to an extra £128 per calendar month.

In Birmingham there was a difference of 20% that, in monetary terms, was an extra £127 per calendar month.

In Manchester there was a difference of 15% that equates to a price difference of £101 per calendar month.

In Cardiff there was a difference of 7% that equates to a price difference of £50 per calendar month.

In Glasgow there was a difference of 13% that equates to a price difference of £86 per calendar month.

Whether you are a landlord looking to arrange buildings and contents cover on either a furnished or unfurnished property or are a tenant looking to arrange cover on your own contents and personal belongings in an unfurnished property then why not make contact with us here at AIB Insurance on 02380 268 351 and speak with a friendly, knowledgeable member of our team. He or she will discuss your requirements and arrange for you to receive a competitive quotation from one of the insurance companies on our extensive panel.

Car Insurance Premiums Reduce In Q2 2018

Motorists will be pleased to read that premiums for fully comprehensive car insurance have, on average, fallen in the second quarter of 2018 when compared to the same period last year.

According to the Confused.com Car Insurance Price Index that is produced on a quarterly basis the average amount paid for the above level of cover in Q2 of 2018 was £752 per annum. Twelve months ago, the premium was £847 per annum so there has been a drop of £95 with this equating to a fall of 11.2%. That is a significant reduction.

It is interesting to read in the above report that those motorists who merely renewed their car insurance with the same insurance company ended up paying, on average, an extra £49 per annum for their cover when looking at data covering the second quarter of this year. This just goes to show how important it is that motorists should shop around when he or she receives their renewal quotation from their existing insurer to try to get a better price elsewhere for the same level of cover.

As you are probably aware, it tends to be the young, inexperienced driver who pays more for their car insurance than others and that is not surprising. However, it is interesting that the above report reveals 17 year olds have, on average benefitted from quite a drop in the cost of insuring their cars when comparing Q2 of 2018 with Q2 of 2017. They have seen premiums fall by an average of £403 per annum to an average of £1,889 per annum. This is even lower than that being paid by 18 and 19 year olds with the former paying an average of £2,052 per annum and the later an average of £1,893 per annum. A reason for the drop could be due to an increase seen in the number of insurance companies offering telematics (black box) car insurance.

Those premiums are significantly higher than the average paid by older motorists for comprehensive cover: –

34 year old – £664 per annum

51 year old – £647 per annum

68 year old – £496 per annum

On a regional basis, Northern Ireland has seen the biggest fall in premiums with premiums dropping on average from £1,059 per annum to £894 per annum between both quarters. That is a fall of £165 per annum equating to 16%.

On a more local basis, motorists living in Inner London saw their premiums reduce by an average of £179 per annum. That may be good news for many but they are still paying more than an average of £1,000 per annum for their cover with this being the only place in the UK that this is happening.

We are sure motorists would agree that it would be lovely to see the cost of insuring their cars continue to fall.

If your cover is coming up for renewal then why not contact us here at AIB Insurance on 02380 268 351 and we will be pleased to discuss your requirements and obtain a free, competitive quotation from our extensive panel of insurers without any obligation.

We are 25 Years Old Today – Wow, how time has flown!

On our 25^th anniversary we thought we’d give you a brief history of our company and our roots which go back all the way to the 1970’s.

First, we need to talk about the British Hang Gliding and Paragliding Association and our strong historic ties.

Throughout the 1970’s until 1992 the BHPA was known as the BHGA (British Hang Gliding Association) and sought a range of insurance advice from ‘Airsports Insurance Limited’ owned by a keen hang glider called Reggie Spooner.

Reggie, a former wing commander in the RAF, had stumbled into insurance and owned his own insurance consultants in Hampshire by the name of Fullbrook Spooner Insurance. Having seen a gap in the market and to assist the BHGA, he created ‘Airsports Insurance Limited’ employing Yvonne Jukes from an office in Eastleigh, Hampshire.

Reggie, an astute businessman with a keen tongue for sales, encouraged all sorts of insurance policies for the club, it’s members and the BHGA staff that included travel, equipment, life and various liability products.

This changed in 1992 with the formation of another club called the BHPA (British Hang Gliding and Paragliding Association) to embrace the growing paragliding community. Committee member Dick Long, with the backing of newly appointed chairman Tom Hardie, created ‘Airsports Insurance Bureau Limited’ which was solely owned by the club to replace Reggie’s business and quickly appointed Yvonne to the board to run the business from a new office on the Isle of Wight.

Reggie, missing his key lady Yvonne, wound the former ‘Airsports Insurance’ company up. However, he had always promised he would use any profits made to help the airsport community. True to his word, he helped local hang gliding and paragliding clubs buy hills that they found for sale. The first one that they purchased was The Parlour, in South East Wales overlooking Abergavenny, followed by the Tinto, a Scottish mountain with Long Mind in Shropshire later purchased.

When Mark Asquith was appointed chairman to the BHPA in 1997, the insurance arm of the BHPA was considered not viable due to the ever-growing compliance issues surrounding financial services. As such, the BHPA sold ‘Airsports Insurance Bureau’ to its then long-standing manager Yvonne Jukes in 2005.

Yvonne’s first decision was to employ her sister, Jacqui Prince, who later took full control in 2011 with the sad passing of the much-loved Yvonne in the same year. Jacqui retired at the end of 2013 and the business moved back to its original home town in Eastleigh, Hampshire.

We have continued to go from strength to strength, with a large portfolio of motor and home insurance clients and relationships with all sorts of clubs including motorhome, Porsche and Ferrari clubs and associations, as well as still insuring the BHPA members today.

We look forward to another successful and enjoyable 25 years!

10,000ft Skydive By World War 2 Veteran

On a number of occasions, we have reported on various skydiving jumps that we feel may be of interest to many of you who are involved in this exiting sport. This latest jump involves a World War 2 veteran who has not parachuted for 74 years until a few days ago.

The gentleman in question is called Harry Read and he is a mere 94 years of age. At the age of 20, on the 6^th June 1944, he landed in Normandy by parachute whilst working as a wireless operator. In those days, parachutists left using their parachutes until they were as close to the ground as they could safely get presumably to help avoid detection by the enemy. Apparently, back then it only took in the region of 30 seconds from jumping out of the plane to landing on the ground.

Mr Read made the jump a few days ago at the Old Sarum Airfield near Salisbury in Wiltshire in tandem with the Chief Instructor by the name of Ryan Mancey. He had been given a clean bill of health by his doctor. On this occasion, you will be pleased to read that he was raising money for the Salvation Army’s Anti Trafficking and Modern Slavery section. He has been a member of the Salvation Army for many, many years and was awarded the Chevalier in 2016 with this being the highest honour in France.

He certainly is a brave chap and, next year, to celebrate a 75^th anniversary, he hopes to do another skydive.

Supporters at the jump included his grand daughters and great grandson so it was very much a family occasion.

Those of you who have skydived will no doubt appreciate how brave Mr Read was to complete such a jump especially at his time of life. There cannot be many people in their 90’s who have skydived from 10,000ft. We will keep you advised of any other interesting jumps that may take place on the next few months. Congratulations to Mr Read from all of us here at AIB Insurance.

Late Vicar’s Classic Motorcycle Collection For Sale

Those of you with an interest in classic motorcycles may want to consider getting along to the National Motorcycle Museum by Junction 6 of the M42 on the outskirts of Birmingham on the 9^th November 2018 where an auction is to take place run by H&H Classics. There are numerous motorcycles being offered for sale including the prized collection of the late Father Robert Edward Hampson who sadly passed away from cancer back in May.

Father Hampson had an interest in motorcycles from a very young age and had built up a collection of 12 classic bikes that are being sold at the above auction. It is estimated that these classic vehicles could fetch in the region of £140,000. Not only was he a keen collector but he also enjoyed getting in the saddle and taking them for a ride.

The classic motorcycle that may well attract the most attention is a restored 1951 Vincent Black Shadow with a 998cc engine that has an estimated price of between £40,000 to £50,000. Apparently, this particular bike was renowned as a high performance vehicle so some may feel it a little unusual that the likes of a vicar would own one.

The other motorcycles in the late vicar’s collection are: –

1921 Royal Enfield Model 180 986cc with an estimated sale price of £11,000 to £13,000.

1921 Sunbeam Model 7 500cc with an estimated sale price of £7,000 to £8,000.

1922 Sunbeam Model 1 350cc Sports with an estimated sale price of between £5,000 to £6,000.

1929 BSA Sloper 500cc side-valve with an estimated sale price of £5,000 to £6,000.

1929 Sunbeam Model 9/90 500cc with an estimated sale price of £7,000 to £8,000.

1932 Raleigh MH32 500cc OHV with an estimated sale price of £3,000 to £4,000.

1931 Sunbeam Model 9 Sports 500cc with an estimated sale price of £7,000 to £9,000.

1932 Sunbeam Lion 600cc that has no reserve

1932 Sunbeam Lion 500cc that has no reserve

1938 Sunbeam Model A26 with an estimated sale price of £8,000 to £9,000.

1947 Harley Davidson WLA 745cc Vee Twin with an estimated sale price of £9,000 to £11,000.

If you are an avid collector of classic motorcycles then why not give us a call on 02380 268 351 and we will be happy to discuss your requirements and provide a competitive quotation to insure your cherished vehicle with one of our panel of reputable insurers.

Another Ferrari 250 GTO Breaks Record

It was only back in June that we wrote about a classic 1963 Ferrari 250 GTO that was sold privately for about £52 million making it the most expensive car in the world yet here we are again telling you about another of these classic vehicles that has been sold and has broken another record.

This time, a very rare 1962 Ferrari 250 GTO was sold for a record auction price of $48.4 million. The RM Sotheby’s auction took place at Monterey, California, USA on the 24^th to 25^th August 2018 and the wonderful classic vehicle attracted a considerable amount of interest as such cars always do. The sale price was in excess of $10 million more than the previous record.

The car had remained in the possession of the same owner for around twenty years during which time it had no doubt been well looked after. Initially, bids of $35 million were sought to get things going. There were three telephone bidders in particular who were outbidding each other over a period lasting almost 10 minutes before the car was sold for $48,405,000.

As we stated back in June, there were very few of these classic Ferraris built which is no doubt one of the reasons why they command such high prices when they do come on the market which is not normally all that often.

You cannot help but wonder just how long it will be before a classic Ferrari 250 GTO sells for $100 million somewhere in the world. Needless to say, we will do our utmost to let you know should this happen.

Here at AIB Insurance, if you are looking for classic car insurance, why not give us a call on 02380 268 351 and speak with a member of our experienced team who will be pleased to discuss your requirements and provide a bespoke, competitive quotation without any obligation. We look forward to hearing from you and being of assistance.

Interesting Motor Vehicle Statistics

The RAC Foundation has brought together some interesting facts and figures in relation to motor vehicles here in the UK. We thought we would share some of them with you but more can be found on their website.

How many motor vehicles are located in Great Britain?

There were 37.9 million motor vehicles licensed as at the 31^st March 2018 with 31.3 million being cars. Almost every year since the Second World War ended the number of motor vehicles has risen. The average annual increase since 2012 has been 640,000.

There were 2,540,617 new cars registered in the UK in 2017.

In 2017, there were 8,113,020 used cars that changed ownership.

There were 1,671,166 new cars built here in the UK in 2017.

What make and model of car is the most popular?

It is the Ford Fiesta with 1.5 million being licensed as at the 31^st December 2017, with the Ford Focus in second place at 1.3 million and the Vauxhall Corsa in third place on 1.1 million.

How many driving licenses are there?

There were 48,416,500 driving licenses registered with the DVLA in March 2018. Full driving licenses make up 40,331,643 and provisional driving licenses account for 8,084,857. It should be noted that these figures include licenses for people who have for instance died or emigrated and the DVLA have not been informed.

A more accurate estimate of active holders of driving licenses is produced by the National Traffic Survey with an estimated 32.9 million people in England being in possession of a full car driving license. Men make up 17.3 million and women 15.6 million.

How many English households have access to a car or van?

In the region of 76% in 2017 with this figure having increased substantially over the years – in 1971, the figure was 52%. Between 1971 and 2017, the percentage of households with two or more cars and/or vans rose from 8% to 35%.

What is the average speed a vehicle travels at?

The figures that stand out for 2016 are that, within a 20 mph speed limit area, all vehicles drove, on average, above the speed limit – cars and vans drove at an average free flow speed of 25 mph. In a 30 mph speed limit zone, cars and vans drove at an average free flow speed of 31 mph. It is rather concerning that the speed limits have been broken so frequently. The average free flow speed for cars and vans on single carriageways with the national speed limit was 49 mph and the average free flow speed on motorways was 68 mph for cars and 69 mph for vans.

How often do we drive our cars?

You may be surprised to read that the average time we spend driving our cars is a mere 4%. Our cars are parked at home for 80% of the time and are parked at other locations for 16% of the time.

What is the average annual mileage for every car in England?

In 2017, it was 7,800 with this being a drop when compared with 2002 when it was 9,200. Diesel cars averaged 10,100 miles per annum and petrol cars averaged 6,500 miles per annum.

It is estimated that motor vehicles in Great Britain drove 327.1 billion miles on our 246,700 miles of roads in 2017. In 1949, the figure was 28.9 billion.

There were at least 31,483 claims made to councils for damage to vehicles caused by potholes in 2015/16 in Great Britain with the average settlement figure being £306.

We trust that you found the above statistics to be of interest and no doubt some of them were rather surprising to read about.

World’s Oldest Female Solo Skydiver Turns Model

Any one who has participated in skydiving will no doubt tell you that it takes a certain amount of courage to step out of a plane at several thousand feet with only a parachute to help you to land safely on the ground. Well, a lady by the name of Dilys Price has never let that get in her way.

Dilys, an ex-college lecturer from Cardiff, is an 86 year old grandmother who took to the skies when she was 54 years of age and did a skydive for a charity and never looked back. Since then she has jumped solo from aircraft on no less than 1,139 occasions parachuting down to earth completing jumps in various locations around the world.

At the tender age of 80 she was awarded the Guinness World Record for being the world’s oldest female solo parachutist. This is no doubt an award she is tremendously proud of and one that she still holds to this day.

Her latest venture is to appear as a model for the fashion brand called Helmut Lang who asked a number of Welsh ladies to model clothing for its forthcoming autumn and winter collection. As with most things in life, she readily took on the challenge although it was probably not as daunting as when she first took to the skies to participate in skydiving.

Dilys is one of many people who have enjoyed parachuting and skydiving well into their later years whether that be flying solo or in tandem.

Here at AIB Insurance we are able to arrange suitable cover for numerous airsports so why not give us a call on 02380 268 351 to discuss your requirements with one of our friendly members of staff and obtain a no-obligation quotation from our extensive panel of insurers. We look forward to being of assistance to you.

When May It Be Cheapest To Get Your Car Insurance?

With mortgage repayments increasing for many borrowers and the cost of filling up your car with fuel on the forecourt going up, any way that you can possibly save money in other areas has got to be welcomed. So, you may be interested to read about some fascinating research recently carried out by MoneySavingExpert.com that has revealed when it may be the best time to sort out your car insurance to get the cheapest price.

MoneySavingExpert.com looked at millions of quotes from MoneySuperMarket, Compare The Market and Confused.com who you will no doubt be aware are price comparison websites. These quotations covered the period from January 2018 to May 2018.

What the data revealed was that, if you bought your motor insurance 21 days before your policy was due to start, you are possibly going to get the cover for the cheapest price. In fact, on average, you would pay £589 per annum with this being £567 per annum less than if you bought the cover on the day you wanted the policy to commence when you would have paid an average of £1,156 per annum. We are sure that you will agree this is a significant potential saving.

So, why is this? Well, the amount you pay for your motor insurance is based upon many factors such as the make and model of car, where you live, what you do for a living, the level of cover required, the number of miles you drive each year, your age, your driving experience, your claims experience, whether you have any motoring convictions and where you park your car overnight. In addition, some insurance companies believe that you are less of a risk if you buy your cover 21 days before the policy starts as you are perceived to be more organised and are less likely to make a claim on your insurance policy than if you arranged your cover on the day the policy is due to start.

Another interesting statistic is that MoneySavingExpert.com discovered that if you bought your car insurance policy 30 days in advance of the start date then the average amount paid would be £1,120 per annum. That is only an average saving of £36 per annum when compared with buying the cover on the start date of the policy. The reason given for this was that there are not as many insurance companies providing quotes so far in advance.

So, if your motor insurance policy is coming up for renewal or you are looking for cover to insure your first car then you may wish to take the above into account as you may be able to save some money. Do bear in mind that these figures are average ones and the saving you may be able to make could be different.

Here at AIB Insurance, we have an experienced team who can obtain one or more quotes for you from our extensive panel of insurers so why not give us a call on 02380 268 351 and we will do all that we can to assist you. We look forward to hearing from you.

Aston Martin Breaks British Record At Auction

Classic car enthusiasts may be interested to read that a 1961 Aston Martin ‘MP209’ DB4GT Zagato Grand Touring Two-Seat Coupe was sold at auction for a record price for a car built in the UK. The car was auctioned by Bonhams at The Goodwood Festival of Speed Sale in July for £10,081,500 including the premium. It is believed to have been bought by a European bidder having been in the same family ownership since way back in 1971 that in itself is most unusual.

The classic sports car came with a racing history as it had been driven by none other than Jim Clark in 1961 and 1962 who has been Formula One World Champion on two occasions. It needed someone of his talents at the wheel as this was a development prototype. He raced it at Goodwood in the RAC Tourist Trophy plus also in Montlhery in the Paris 1,000 Kilometres. It was also raced by a number of other drivers on several occasions.

Only 19 Aston Martin DB4GT Zagatos were built with only 3 of these specific “MP209” models making this car extremely rare. It had a 3.8 litre twin-overhead camshaft straight six cylinder engine and was a real competitor for the Ferrari 250 GT. Its number plate “2 VEV” became so well known around the world.

This wonderful classic sports car won the Volz Trophy in 1996 at the Aston Martin Owners Club (AMOC) Summer Concours. In 1997, it won the award for the most significant British car of the show at the Pebble Beach Concours.

If you are the proud owner of a classic Aston Martin or any other classic vehicle for that matter then why not get in touch with us on 02380 268 351 and speak with a knowledgeable member of our team who will be happy to discuss your insurance requirements and provide a competitive quotation without any obligation.