|
The Club Insurance scheme, a pioneer of its type
and open only to members of the Bentley Drivers Club, provides a
comprehensive insurance package tailored specifically to the needs
of the Club’s Bentley owners resident in the United Kingdom.
Members are also able to arrange for one of the nominated Club
Officers to provide insurance valuations for their Bentleys, which
are a requirement by all specialist insurers. Details of how to
obtain the necessary forms can be found in Club Notes.
The cost of the scheme’s insurance is such that when compared to
alternative policies, the savings can often cover the cost of Club
membership!
Full details can be obtained upon joining the Club. The following
article, written by Allan Mitchell of Richardson Hosken, should whet
your appetite...
Nearly 30 years ago when the Club Insurance Scheme was conceived,
insurance packages of this nature were virtually unheard of.
Richardson Hosken were given the brief to devise a motor insurance
scheme, catering specifically for BDC Members and their Club cars.
The package was to reflect the special regard that enthusiasts have
for their vehicles, in the majority of cases the limited use and
annual mileage covered and of course the specialist nature of the
vehicles concerned.
At the time, the insurance market would have, by and large, rated
such a vehicle entirely on the basis of them being expensive,
powerful cars, charging an appropriately high premium for the
perceived risk. Fortunately for the members, a Lloyd’s underwriter
was persuaded to take, what was at the time, the unprecedented
gamble of offering dramatically reduced premiums, particularly on
the pre-war cars.
Since that time, we have all seen a large number of “copycat”
schemes for various specialist vehicles such as kit cars, hot-rods
and the like, in addition to vintage and classic cars. In fact a
whole industry has now mushroomed out of the original pioneering
scheme.
The innovation which was shown in the original concept of the scheme
has been the subject of continuous development, with policyholders
now enjoying the extra benefits in cover, such as:
Free foreign travel cover: The policy covers travel within the
European Union or its Associate Members for up to 60 days any one
trip without prior notification to insurers.
Automatic cover on dismantled parts: The policy extends to cover
dismantled parts of the insured vehicle whilst kept in secure,
locked premises.
Standard insurance policies only cover parts while attached to the
insured vehicle.
Agreed value clause: This ensures that the value agreed at each
annual renewal becomes the guaranteed settlement figure in the event
of the vehicle being lost or damaged beyond economical repair.
Automatic salvage clause: This clause applies to any vehicle over 20
years old and automatically gives the policyholder the right to the
vehicle salvage in addition to the agreed value settlement figure.
Most, if not all, insurers would only pay out the settlement figure
and would, under the terms of their policy, be entitled to the
salvage. Because of the unique nature of the vehicles we are
insuring, this would be totally inappropriate.
IT YOU ARE NOT INSURED UNDER THE CLUB SCHEME, WE STRONGLY RECOMMEND
YOU CHECK WITH YOUR INSURERS EXACTLY ON WHAT BASIS A TOTAL LOSS
SETTLEMENT WOULD BE NEGOTIATED AND THE ENTITLEMENT OF THE VEHICLE
SALVAGE.
Breakdown and recovery cover: In 1999 we saw the introduction of the
recovery service as part of our “Brooklands” policy, which extends
to include roadside assistance and vehicle recovery in respect of
any breakdown which takes place one mile or more from the insured’s
premises. The service automatically covers the whole of the United
Kingdom and Western Europe without additional premium.
(Buying conventional breakdown cover for vehicles of this age has in
the past proved to be difficult and in most cases very expensive.)
Overseas: The year 2000 saw Richardson Hosken turn their attention
to the ever-increasing demand for worldwide cover, as a result of
the ‘boom’ in International rallies and tours. UK members who have
an RH policy can now seek a quotation for an extension to their
policy for any short term visits they may be making to any part of
the world with their car. However, there are still some parts of the
world which carry excessive, or even uninsurable risk.
Overseas Members: Members resident outside the UK who are planning a
visit to the UK with their car can now seek temporary cover from
Richardson Hosken for the duration of their stay, even if they have
no previous commercial relationship with them. Richardson Hosken,
however, may, under certain exceptional circumstances, be unable to
offer such cover.
I believe that the above illustrates some of the key benefits of the
insurance scheme in relation to the Club cars and highlights the
reasons why the BDC policy has for the last 25 years established
market leadership.
The good news continues because Richardson Hosken have recently
extended their facilities at the Brentwood office with the
introduction of the New Collectors Policy which provides all of the
policy benefits illustrated above. The premiums are based on a
flexible rating structure that reflects the use of the vehicles
within the collection rather than the total value. There are special
facilities for collections to include cars, motorbikes, commercial
and military vehicles.
RH have also negotiated special rates for the Members’ modern and
every day cars and these policies will automatically include some of
the more appropriate benefits such as the breakdown and recovery at
no extra charge. All the RH products at the Brentwood office have
premium financing schemes available, payable in monthly instalments.
The long term success of the Club Scheme is a direct result of the
exceptional support it has received from the membership. The Bentley
Drivers Club Officers continue to work very closely with RH to bring
to its members this unique range of insurance covers offering both
high standards of service and product quality.
All of the above covers are currently underwritten by Equity Red
Star, part of the Cox Underwriting Group. RH Specialist Insurance
Division is the trading style of Lloyd’s Brokers Coyle Hamilton
Insurance Brokers Limited, part of the Coyle Hamilton Group of
Companies.
---------------------------------------------------------------------------
|