News

Audi Claims Speed Record For Self-Driven Car

The Hockenheimring racing track, close to Frankfurt in Germany, has witnessed many exciting Formula One races over the years so where better for one of that country’s prestige car manufacturers to attempt to break a new world record. Well, a few days ago, that is just what Audi set out to do and achieved their goal. Audi Insurance The car in question, a concept Audi RS7, had no driver at the wheel yet completed a lap of the circuit in just over two minutes reaching what is believed to be a world record breaking speed of 149mph for a self-driven car.

Audi that has been researching this type of driving for 15 years, set up the drive with a view to highlighting their wish to introduce piloted driven cars to public roads in the future. There is an opinion that such vehicles could reduce the number of accidents on our roads many of which result from motorists becoming distracted at the wheel. It is believed that this would not happen with a piloted driven car if the car were to take over control of the vehicle from a human in the likes of a traffic jam. Such cars could also be more fuel-efficient.

This Audi RS7 was equipped with numerous sensors, 3D cameras that filmed the track, GPS signals, Wi-Fi as well as computer equipment stored in the back of the vehicle. All helped to control the car’s brakes, steering, speed and transmission.

The technology is so sophisticated that the car was able to follow the racing line almost to perfection as it sped around the track. Interestingly, when a human then got behind the wheel to drive the car around the circuit it took that person an extra five seconds.

Of course, Audi are not alone in researching pilot driven cars. Others include Mercedes, BMW, Volvo and Google.

Huge Increase In Foreign Investors In UK Commercial Properties

You will no doubt be aware of the vast number of commercial properties in the UK that includes the likes of industrial units, shops, supermarkets, hotels, retail parks and office blocks. Construction of such properties continues in many parts of the country providing employment for those in the building trade and, of course, for those people working for businesses that are taking up occupancy of such premises.

However, have you any idea where in the world many of the investors in these properties are actually from? The perception is probably that the vast majority are based here in the UK.

Well, you would be correct. However, in the last 10 years, there has been a big increase in the number of overseas investors in commercial property.

The Property Industry Alliance (PIA) that includes the likes of the British Council of Shopping Centres (BCSC), Royal Institution of Chartered Surveyors (RICS) and the Property Committee of the Association of British Insurers (ABI) has produced the Property Data Report 2014. This report reveals that, as at the end of 2013, 24% of those now owning commercial property for investment purposes in the UK are from overseas – that is almost a quarter. In the region of 75% of such property is in London.

What is significant is that such overseas investors have increased their ownership in commercial bricks and mortar in the UK by 129% in the ten years leading up to 2013. That now makes them the largest group of owners putting the likes of UK institutions (pension funds and insurance companies) in second place at 19%. In fact, in the last 10 years the latter group have actually reduced their holding in UK commercial property by 16% – a significant drop. The third biggest owners are collective investment schemes such as managed funds and unit trusts that invest in property. In total, £385 billion is invested in commercial property.

It will be interesting to see what happens over the next ten years in terms of ownership of UK commercial properties.

For bespoke landlord insurance call the team on 02380 268351 for an instant quote and cover.

Who wouldn’t love to receive a Porsche as a gift!

As you are probably aware, a brand new Porsche doesn’t come cheap. In fact, quite the opposite with the least expensive Porsche 911 Carrera priced at £73,509 including VAT.

There can’t be many people that wouldn’t love to own such a refined sports car but, at that sort of price, the number of people that can afford one has got to be limited. So, wouldn’t it be great if you were lucky enough to be given a Porsche as a gift? Of course it would!

Well, that is just what has happened to one young lady who is certainly building herself a career as a tennis player. We are referring to Simona Halep who has been shooting up the world tennis rankings of late.

Simona, who is 23 years of age, is from Romania and only broke into the world’s top 50 women’s tennis players towards the later part of 2012. By August 2013, she featured in the top 20 and then got into the top 10 in January of this year and is currently ranked number 3 in the world of women’s tennis. She reached her first Grand Slam final losing to Maria Sharapova at this year’s French Open.

Anyway, you will no doubt be green with envy to read that Simona has just received a new red Porsche 911 Carrera 4 Coupe worth £78,365 including VAT from the famous car manufacturer as a gift. The vehicle has a 3.4 litre 6 cylinder 350bhp boxer engine that is capable of getting from 0 to 62mph in a mere 4.9 seconds on its way to reaching a top speed of 177mph. Not for the faint hearted. She took delivery of the car at Porsche’s Bucharest dealership.

Presumably, Porsche has been so generous in view of her rapid rise up the tennis rankings and wish their successful brand to be associated with someone that has the potential to become the number 1 women’s tennis player worldwide. Interestingly, Maria Sharapova is a Porsche Ambassador and it begs the question if Simona is going to be fulfilling a similar role in the not too distant future.

Anyway, we are sure that she will love driving her new Porsche when her busy tennis schedule allows.

World Record Broken For Highest Skydive

For all those of you interested in skydiving, if you haven’t heard already, we thought you would like to know that the world record has just been broken for the highest skydive ever to be made breaking the previous record set a couple of years ago.

On the 24th October, Alan Eustace, senior vice president with Google, took to the air in a giant balloon just before the sun rose wearing a spacesuit. He is a keen skydiver and has been a pilot for 25 years. He gradually ascended to a height of 135,890 feet -that is in excess of 25 miles above New Mexico taking in the region of two and a half hours to achieve this altitude. In fact, this ascent took place at around 1,000 feet a minute. The jump was made with the support of many including the Paragon Space Development Corporation.

Apparently, having got to that height, he then spent around half an hour admiring the stratosphere. He then took that important drop away from the balloon to start making his descent.

His free fall, that lasted for around 4.5 minutes, was so rapid that he was able to break the speed of sound within 90 seconds reaching a speed of greater than 1,300km/h as well as breaking Felix Baumgartner’s world altitude record set on 14th October 2012 that had stood at a height of 128,100 feet. A small drogue chute was able to keep him stable.

His free fall descent into the atmosphere that was thickening lasted for around five minutes. At about 18,000 feet his parachute was deployed and he completed the gentle drop to the ground. This took him in the region of 15 minutes to reach the ground with the aid of his parachute. When he did land, he ended up almost 70 miles from where his balloon had started off. A ground support team then returned him to from where he had launched safe and sound.

Our congratulations go out to Alan.

Victor Millwell appointed to Insurer Panel

Many of our clients love to take to the road and enjoy a touring holiday in the UK or overseas in a motorhome or campervan. They enjoy the freedom and flexibility such a vehicle provides staying either on a beautifully kept campsite, a farmer’s field or a layby.

A substantial amount of money has probably been invested in such a vehicle by our client to provide a real “home from home” as they intend to enjoy many holidays over the coming years in one. They will undoubtedly want to keep their vehicle in pristine condition but, unfortunately, accidents do sometimes happen. Yes, it is a legal requirement that such a vehicle is insured but it needs to be insured to cover as many eventualities as possible.Therefore we are pleased to say that we have added Victor Millwell Insurance Agency Limited to our carefully selected panel of insurance companies. They were established way back in 1979 and specialize in insuring campervans and motorhomes.

Over the years, they have become one of the most respected and knowledgeable insurers in this specialist marketplace. It is possible to arrange a quote either online or over the phone through their UK based call centre and will offer their best price no matter which option is chosen. Cover can be arranged through their website 24 hours a day.

They cover most types of the above vehicles including coach-built motor caravans, professional van conversions, A-Class motor caravans, American Motorhomes, Race Trucks, self-build or privately converted motor caravans and newly manufactured or home converted campervans. They will also insure personal effects, awnings and provide cover whilst travelling abroad throughout the year. Optional breakdown cover is available.

Further information about Victor Millwell can be found on their website at: http://www.vminsurance.co.uk

Large Numbers Providing Inaccurate Information on Home Insurance

You may be interested to read about some research that has been carried out with 2,000 people by the well-known price comparison website Gocompare.com relating to when people apply for home insurance.

Apparently, some applicants have either withheld relevant information or been, shall we say, less than honest when providing answers to some of the questions for home insurance. In fact, the research indicated that 18% of homeowners in the UK acted in this way – a huge percentage.

This is not a good basis for a new relationship between the insurance company and client. It is also concerning when you consider that we are talking about insuring one or more valuable assets such as a home and its belongings.

Some of the examples given of inaccurate or withheld information on home insurance application forms included stating that they are non-smokers (5% of people), is their home occupied during the day or not (6% of people), declaring that they live in a Neighbourhood Watch area when they do not (9% of people) and incorrectly detailing the types of locks fitted to windows and doors (12% of people).

Rather worryingly, 27% of those taking part in the survey did not feel that overstating a claim or withholding information when applying for home insurance was fraudulent. A significant 30% of people believed that everyone who obtains a quote for home insurance lies when doing so.

If it were found that a policyholder had deliberately provided incorrect information or withheld relevant information it has a number of implications including the insurance company potentially refusing to pay out should a claim be made. It could also lead to the insurance company cancelling the policy leaving the customer to try to find insurance elsewhere that may not be possible or, if it is, could be for a significantly larger premium. Other examples include a reduced settlement.

So, it is better to provide accurate information at the outset. For instance, the applicant should find out exactly what types of locks have been fitted in the home and, if a claim has been made on a home insurance policy in the past, how much it was for and when it was made.

At AIB we have a long history providing tailored insurance for our clients and can cover the more unusual risks including criminal convictions, subsidence and flood risk areas. Call the team now on 02380 268351 for an instant quote and cover.

The Astonishing Rise In Value Of A Classic Porsche 911

Those of you that are classic sports car enthusiasts will be aware that many such vehicles have risen significantly in value in recent years. In fact, they have proved to be one of the most financially beneficial things to invest in – certainly better than bank and building society savings accounts although you may say that is not difficult to achieve with interest rates so low.

Well, you may be interested to read that some research was recently carried out to mark the 100th car that was renovated on the Wheeler Dealers program on Discovery Channel. That program was shown on 6th October 2014.

The research looked at the price that classic cars were going for way back in 2004 and compared them with the price that you could expect to achieve in 2014 – a gap of 10 years. The survey focused on the percentage increase of 20 classic cars.

If you have been the proud owner of a classic Porsche 911 Carrera RS 2.7 for at least the last 10 years that is now in good condition then we hope that you are sitting comfortably! Apparently, back in 2004, such a classic vehicle was going for around £65,000 on the open market. It is estimated that this iconic sports car is now worth in the region of £500,000 – an increase of a staggering 669% and quite a bit more than you would have got in a Cash ISA!

We thought that you might like to look at the list of the top 10 classic car investments in percentage increase terms for the period from 2004 to 2014: –

1. Porsche 911 RS Carrera 2.7 – 669% – £65,000 (2004) to £500,000 (2014)
2. Aston Martin DB5 – 500% – £75,000 (2004) to £450,000 (2014)
3. Aston Martin DB6 – 478% – £45,000 (2004) to £250,000 (2014)
4. AC Cobra – 333% – £150,000 (2004) to £650,000 (2014)
5. Aston Martin V8 – 295% – £19,000 (2004) to £75,000 (2014)
6. Land Rover Series I – 233% – £6,000 (2004) to £20,000 (2014)
7. Jaguar E Type – 171% – £35,000 (2004) to £95,000 (2014)
8. Lotus Elan Convertible – 142% – £18,000 (2004) to £43,500 (2014)
9. Ferrari Testarossa – 140% – £25,000 (2004) to £60,000 (2014)
10. Chevrolet Corvette – 132% – £28,000 (2004) to £65,000 (2014)

You will note that the Aston Martin DB5 and DB6 featured in 2nd and 3rd place respectively. We bet that brings a smile to a few Porsche owners’ faces!

AIB Insurance specialise insuring high performance and exotic cars including Porsche 911’s. For a free quotation tailored around your needs call the team on 02380 268351.

Flying for Heroes Kenya Expedition 2014

Flying for Heroes was set up less than a year ago and is a part of Help for Heroes that provides assistance for wounded service personnel. Incredibly, in only a few months, a number of these personnel have been trained and flown Para-trikes and Para-motors on an epic adventure in Kenya.

Back in November 2013, the selection process began resulting in the eight person flying team plus support personnel being carefully chosen. Rory Mackenzie, who served in the British Army as a combat medic but lost a leg whilst serving in Iraq, was appointed as Team Leader. A team-training event took place in May. In July 2014, flight training for these student pilots commenced and ran for a three-week period at a flying school in Spain. The following month, a three-day trial expedition was made that involved a trip to the World War One battlefields on the 100th anniversary of the commencement of the war. Then, in September, the expedition commenced and what an adventure it turned out to be.

These brave and resilient pilots flew a distance of 1,000 kilometres from Mt Kilimanjaro that is located on the southern border between Kenya and Tanzania to Mt Kenya up north. They will have flown over desert, water and jungle – not places that they would have wanted to have to crash-land in. In addition, they also drove off-road support vehicles across difficult terrain and slept in the bush no doubt with the possibility of having to face wild animals and snakes.

Not deterred by their disabilities and the challenge of flying these Para- trikes and Para-motors such a long distance, the team completed this incredible feat safely. They have accomplished something that has never been attempted in the past and should be justly proud.

In November, Flying for Heroes is holding a fundraising gala diner. They also wish to set up a bursary to provide wounded service personnel with the opportunity to receive a flying scholarship.

Here at AIB Insurance, we are pleased to have been able to support the Flying for Heroes Kenya Expedition 2014 by arranging suitable specialist insurance cover for the expedition. We can, of course, arrange any sort of travel insurance no matter how adventurous and dangerous your trip is or if it is merely to cover a more sedate ten-day family holiday on a beach in Spain.

To find out more about the Flying for Heroes enterprise please visit them at www.flyingforheroes.org

We have attached a link below to the pre-documentary teaser video (kindly provided by Jon Maguire of 3RM). We are sure that you will enjoy watching the video of the expedition, see it here:

http://vimeo.com/108374818

British Mother Smashes Land Speed Record On Motorcycle

All you motorbike enthusiasts will be pleased to hear that a British lady has set a world record on her motorcycle. She beat the previous record held by an American woman by 20mph making her the fastest woman on two wheels on a conventional motorcycle.

Becci Ellis is 46 years of age and a mother of two. She works as an IT analyst and comes from Scunthorpe in Lincolnshire.

At Elvington airfield in North Yorkshire she made history reaching a top speed of 264.1mph. The previous record was 243.6mph and had been set in September 2013.
What makes this all the more remarkable is that the off-the shelf Suzuki Hayabusa 1300cc motorbike was bought second hand back in 2008 originally with the intention of using its spare parts. The Suzuki Hayabusa was first manufactured back in 1999 and was renowned as the world’s fastest production motorbike.

Becci has loved motorcycles from a very early age – from 9 years of age in fact. She met her husband when she was 25. He used to be a motorbike drag racer back in the 1970s and spent a couple of years working on the 500bhp bike that included producing a unique turbo system to give the bike the extra power that it required to make the record breaking attempt. She can get to 90mph in first gear.

The bike, with 25,000 miles on the clock, powered along a I mile course at the airfield in just over 20 seconds. That is speed of breath taking proportions. She now becomes the 4th fastest rider on the planet and has achieved this on a bike that would only need to have indicator, front and backlights fitted to make it legally useable on the UK public road system.

Becci feels that it will be many years before her record will be broken by someone else but intends to keep trying to break her own record. Although she realises what she does is dangerous she claims to have no fear.

Well-done Becci!

AIB Insurance can provide motorcycle insurance and have a panel of bike insurance specialist’s, offering tailored insurance that provide healthy discounts for the low mileage users, garaging and length of ownership. Give the team a call on 02380 268351 who will be happy to help.

Driving On Country Roads Is More Dangerous Than On Motorways

Many people will be surprised to hear that you are more likely to be involved in a road traffic accident if you are driving down a country lane than on our motorway network. This is despite the fact that you are probably driving faster on the motorway than on a B road through scenic countryside.

The Department of Transport run the THINK! campaign and they have done some research that reveals you are 11 times more likely to be killed due to being involved in an accident in your car on a country road than you are to die in a motorway accident. In fact, sadly, an average of three people are killed on roads in the UK countryside every day – that is 60% of deaths happening on our country roads. In 2013, there were 9,104 serious injuries and 1,070 deaths on such roads.

The Government has just released a new campaign to bring to people’s attention how dangerous it is to drive on country roads.

So, what can you do to reduce the possibility of being involved in a road traffic accident whilst at the wheel of your car when you are enjoying a Sunday jaunt in the countryside?

The first thing to do is to make sure that you keep within the speed limit for driving on the road you are on bearing in mind that the maximum legal speed limit quoted is not necessarily the speed you should be travelling at – adjust your speed to suit the conditions. Did you know that 60mph is the maximum national speed limit for driving a car that is not towing a caravan or trailer on single carriage roads?

One of the reasons why country roads are more dangerous to drive on than motorways is because you have sharp bends on them whereas motorways tend to be straighter. You tend to have a clearer view ahead of you on the motorway enabling you to take evasive action more quickly. Therefore, when driving in the countryside, you should look ahead and brake before coming to a potential hazard like a bend or a hidden dip in the road so that you are travelling at a reasonable speed when negotiating the bend or dip.
Just because you regularly travel on a country road, don’t get complacent. The conditions could frequently vary.

If the road is wet or slippery perhaps due to rain or a heavy frost overnight then slow down in case you have to stop suddenly.

Beautiful as the countryside is with tree-lined roads and bushes, they can block the view that you have of the road ahead and, possibly, an approaching hazard so adjust your speed accordingly to give you more time to react.

Only overtake slow moving vehicles such as tractors when it is safe to do so and give cyclists, ramblers and horse riders a wide berth when going by them at a reduced speed.

We hope that the above has given you “food for thought” and should you require car, bike or van insurance give the team a call on 02380 268351.