Classic Car Insurance: Why the Saxon Team are the true specialists...

If you follow the Classic Car Market as closely as we do, you’ll have noticed the open ended fluctuations in perceived value. Fortunately, regardless of whether you own a Bugatti, or a Volkswagen Bug, classic cars have consistently out-performed comparable tangible investments.. and lets face it, stamp collections aren’t going to raise any eyebrows!

‘‘The majority of our clients have owned their vehicles for many years, they have performed incredibly well when comparing the purchase price against current market value, even after factoring in storage & maintenance expenses. ‘‘

Samuel Cise - Director

Saxon Insurance Brokers are proud to manage over $300 million of Classic and Prestige Vehicle insurance, the majority of our cover is provided to individuals with $500k of investments to insure. We have seen some consolidation recently, some of our clients are reducing the size of their collection, whilst maintaining a similar value. 6 cars are becoming perhaps 2 or 3, this reduction in size generally results in fewer expenses, smaller storage space, less servicing, and generally stronger performing assets.

As a boutique team of genuine car lovers, Saxon are delighted to insure such high value, prestigious collections. Our passion translates into a truly unique, incomparable level of service for our valued customers.

‘‘Everyone in the office has a weekend car, the whole team visit shows across the globe -we are all excitable, passionate petrol-heads!’’

Dominic Wright - Client Relationship Manager

There are two main factors that set Saxon Insurance Brokers apart from the mainstream insurance providers, the first being…

Expertise

We really do know what we’re talking about. Our boutique, UK based team can certainly tell a Bugatti T35 from a Model T Ford! We understand where these vehicles are frequently shown, the methods of transportation and how they are stored. We are part of an incredibly fortunate group of human beings, that work alongside our passion on a daily basis. Oh.. and we understand Insurance too! With over $200m of motorcars under our arranged policies, our valued customers have consistently returned, year-on-year, to trust Saxon Insurance to cover The World’s Finest Assets.

Classic Aston Martin DB4 - Check out  Aston Martin Works…

Classic Aston Martin DB4 - Check out Aston Martin Works…

Knowledge

We know exactly what our clients require. The average value of a vehicle protected by our policies is £400,000. Our average total policy value is £2.3m. Every client receives an individually tailored, fully bespoke policy and benefit from unbridled access to our brokers 24 hours a day, 7 days a week. This is the Saxon difference. We have diligently, passionately served our clients for over 15 years and boast a near 100% retention rate.

Our team are regularly in attendance at the worlds most prestigious Classic & Luxury Car shows, from Pebble Beach Councourse D’Elegance to Salon Privé, we always enjoy meeting new & existing clients.

Check out a few of the benefits of choosing Saxon Insurance Brokers..

  • Transit cover: No need to pay for additional transit insurance (subject to the transit being professionally undertaken).

  • Acquisition cover: Cover is automatically included for additional cars bought and notified to us within 30 days.

  • Loss in value cover: At the discretion of underwriters, some clients benefit from loss in value cover following a loss. This must be substantiated by independent valuers in order for a claim to be paid in addition to the claim for damage.

  • Worldwide Cover: Cars can be located in various countries and insured by one global policy.

  • No requirement to substantiate values or declare mileage each year.

  • Offshore Policy: Meaning no connection to mainland UK.

  • Market Leading Policy: The best claims service available on the market.

  • Third Party Liability issued from UK for UK and European registered cars covering Europe.

  • Salvage can be retained in the event of a major loss rather than this becoming the possession of the insurance company following a total loss.

  • Bespoke Underwriting: For example; Road and Static risks can be insured separately. Meaning, if only a few cars are driven, or low mileage is accrued per annum, the rate will reflect the low usage. Rather than insuring a full $50M collection for road risks the whole time when the collection is unlikely to be used all at once on the road - this is a brilliant way to save money.


The above points are just some of the benefits included in the classic car insurance policy we arrange. Every policy is as unique as the vehicle, please feel free to contact us to discuss your requirements, our team will be delighted to hear from you.

How Much Does A Bugatti Veyron Cost to Insure?

The team here at Saxon Insurance Brokers have an incredibly varied and exciting role, our dedicated brokers have the pleasure of insuring The World’s Finest Assets, from Superyachts in the Mediterranean to Supercars in Dubai.

Our privileged position provides us an insight into the lives of some incredibly interesting clients, with incredibly varied collections of luxury assets. We are proud to have dilligently arranged insurance policies ranging from €500,000 Classic Car collections, to €2,500,000 Private Jets and €25m Superyachts!

But how exactly do you insure a superyacht?, and if you are in the fortunate position to own a Bugatti Veyron, how much will it cost to insure? Well, wait no more! We dive into the ownership costs for a Bugatti Veyron below…

The words ‘Bugatti Veyron’ are often thrown around conversation with ‘McLaren P1’, ‘Koenigsegg Agera R’ or ‘Pagani Zonda’ - These are the supercars dreams are made of, bedroom walls are adorned with and #Insta is plastered with! But if you want to do anything more than dream, gaze or double tap one, you are going to need to insure one…

Below is list of the expenses attached to Hyper Car ownership:

Purchase price: £2,000,000

Fuel: c. £5,000 depending on the mileage covered

Professional Storage: £40 per week x 52 = £2,080

Annual Servicing: £20,000

Depreciation: Well, hopefully none!

But what about the insurance? How much is a Bugatti Veyron to insure? Insurance at this level can be calculated at circa 1% of the vehicle value, so for a £2,000,000 Bugatti Veyron you can expect to pay around £20,000 for insurance per annum. Note the policy excess, which is usually around £50,000, so if you crash or lose your Bugatti Veyron, the policy holder is responsible for paying the first £50,000 in repairs.

Prestige Cars are often considered a worthwhile addition within a diversified investment portfolio, these annual costs are regularly justified and reassuringly priced. Our clients value the best cover available.

Regardless of the annual mileage of the vehicle, Hypercars should be serviced annually, oil and other consumables have ‘shelf-lives’ and must be changed regardless of use - this approach is standard practice among prestige vehicles, and so annual maintenance remains a constant. It is imperative to protect not only the mechanicals, but the future re-sale value too.

We estimate a total of £47,080 of expenses for one Bugatti Veyron. Roughly 2.5% per annum. But what a fantastic asset to own, and one certainly worthy of protecting.

We are fortunate to work with some of the worlds leading underwriters for supercar insurance like Bugatti Veyron’s and also specialist Classic Car insurance underwriters who insure our clients famous collections across the world which include Ferrari 250 GTO's, Bugatti Type 57, Mercedes 300 SL Gullwing, Lamborghini Muira SV and many more!



The Saxon 2019 Schedule - It's Supercar Season!

The team here at Saxon are approaching one of the busiest times of the year, with Goodwood Festival of Speed now behind us, and the Mediterranean Yachting Season in full swing, our calendar is filling up incredibly quickly!

True to Saxon Form, in the interests of complete transparency, its only fair we share our calendar with our clients, colleagues and friends! From Superyacht Festivals to Supercar Sunday, the Saxon Team share the top events for all things luxury…

Please let us know if you are thinking of heading to any of the events below, we would love the opportunity to catch up and meet new faces…

 

SALON PRIVÉ

5TH SEPTEMBER

 

CANNES YACHTING FESTIVAL

10TH – 15TH SEPTEMBER 

 

SHARNBROOK SUPERCAR SUNDAY

11TH SEPTEMBER 

 

 GOODWOOD REVIVAL

13TH SEPTEMBER 

 

AIR CHARTER EXPO

17TH SEPTEMBER 2019 

 

MONACO YACHT SHOW 

25TH – 28TH  SEPTEMBER 

 

LES VOILES DE SAINT-TROPEZ

28TH NOVEMBER – 6TH OCTOBER 

 

LONDON INVESTOR SHOW

25TH OCTOBER

 

FORT LAUDERDALE INTERNATIONAL BOAT SHOW

30TH OCTOBER – 3RD NOVEMBER 

 

METSTRADE

19TH – 21ST NOVEMBER

 

ANTIGUA CHARTER YACHT SHOW

4TH – 10TH DECEMBER 

 

 

 

How to Insure a Superyacht...

Check out our step by step guide to insuring your Superyacht…

Here at Saxon Yacht, we understand the varying, often complex working relationships for professionals within our tight-knit community. Our team are incredibly proud to work closely with the worlds most prestigious Management Companies, Private Family Offices, Captains and of course, Yacht owners.

Our vast experience has given us the opportunity to have dealt with an incredibly wide array of scenarios, from day-skippered Sports Yachts on the French Riviera, to globally cruising Explorer Vessels in South America.

Saxon have always been our first ‘port of call’ for Yacht Insurance – Their knowledge, passion and dedication has always been head and shoulders above the competition. We use Saxon for our Yachts, Aviation and Automotive Insurance.

UHNWI Family Office Manager

Step 1: Contact Us

Pop us a message in our dedicated ‘Contact Us’ form. A member of our professional team will be in touch immediately; or, should you prefer, we are able to call you at a specific time of your convenience. Our team work internationally and are available to discuss throughout all international time-zones.

Step 2: Fact Find

During our phone call, we endeavour to learn about your vessel, from the Length & Value, to the Year of Manufacture, Flag State and Number of Crew Aboard. This initial understanding of the vessel allows us to search for the best insurance policy available. We are proud to have worked with the global leaders in Marine & Aviation insurance for over 15 years. This invaluable experience allows us to access the best policies available in the world.

Ocean Pearl Yacht, Designed by the infamous  Norman Foster

Ocean Pearl Yacht, Designed by the infamous Norman Foster

Step 3: Go to Market 

Following our fact finding conversation, a member of our experienced team presents the risk to the market. 

Due to our impeccable record of successful business, our underwriters have complete confidence in the quality of our clients’ vessels and provide us with the worlds most competitive and comprehensive policies as a result.

M/Y Malahne, built by UK shipyard,  Pendennis.

M/Y Malahne, built by UK shipyard, Pendennis.

Step 4: Obtain Quotes

Saxon Yacht begin to receive initial offers within 24 hours of our presentation, we then scrutinise & negotiate the premiums and particulars within the policy, ensuring the policy is tailor made to the specific vessel in mind. 

It is our role as yacht insurance brokers to negotiate the benefits of each policy. No two vessels are the same, and neither are the policy particulars. Our bespoke approach ensures you receive the most appropriate, tailored policies specifically designed for you.

Versatile & Agile! -  Axopar 37 Sports Cabin

Versatile & Agile! - Axopar 37 Sports Cabin

Step 5: Prepare Your Quote

We return a number of the most suitable quotes that meet your specific needs, along with an easy to digest breakdown of each individual policy, including the merits and negatives of each policy on offer.

If necessary we aim to return a minimum of 3 quotes, along with a corresponding summary, personally written up by a member of our team.

Our scrutinising is not solely financial, we are fastidious in our negotiations with regards to the technical aspects of the vessel cover. 

The aggressively styled  Dominator Ilumen 28m

The aggressively styled Dominator Ilumen 28m

Step 6: Accept Your Quote

Once a mutual decision has been made as to which policy you would like to move forward with, we start the cover immediately or from a start date of your choice.

Step 7: Receive Your New Saxon Yacht Insurance Policy

After receiving your instructions to proceed we instruct the relevant underwriter to prepare and issue the policy. This is then packaged up by our team and sent to you for your review and safekeeping. These always include all relevant documents to keep onboard but most importantly we want you to save your dedicated Account Manager’s mobile number in the event of any emergencies or simple questions. We work around the clock and have pride in being there for you for the duration of the policy and for many years to come.

‘Saxon have provided my vessel and crew with the cover we needed, Sam is always available to answer any questions, I will continue to use Saxon on the new-build once it is launched!’

Captain – 47m Yacht

For any questions regarding the efficient cover of your yacht, and to get in touch with a member of our experienced team, click here.


Leonardo da Vinci, Yuri Shefler and Crown Prince Mohammad Bin Salman - The Serene Connection.

Leonardo di ser Piero da Vinci, more commonly known as Leonardo da Vinci or perhaps simply, Leonardo.

One of the world’s greatest artists, living through the golden age of the renaissance era, Da Vinci’s masterpieces have been admired across the planet, with diverse works such as the Mona Lisa, Vitruvian Man and The Last Supper all being preserved in public galleries. Remarkably, there is just one Da Vinci ‘piece’ rumoured to be in a private collection. The Salvator Mundi.

The painting depicts Jesus in renaissance dress, making the sign of the cross in his right hand - holding a crystal orb in his left. Salvatore Mundi is latin, for ‘Saviour of the World’

The painting depicts Jesus in renaissance dress, making the sign of the cross in his right hand - holding a crystal orb in his left. Salvatore Mundi is latin, for ‘Saviour of the World’

The renaissance piece was sold at an auction at Christies for a record breaking $450m in November 2017. However, since the completion of the sale, the location of the artwork remains unknown, with many speculating the recently restored masterpiece is aboard the 134m Fincantieri Superyacht ‘Serene’.

The Superyacht, previously owned by Yuri Shefler, was sold to Saudi Arabia’s Deputy Crown Prince for $458 million in one of the largest brokerage deals ever recorded. At the time of her launch in 2011, she was number 8 in the register of the World’s Largest Yachts. (She has since slipped down to number 15!)

Serene-Superyacht-Saxon-Insurance-Brokers-Megayacht-Art.jpg

Serene boasts elegant, timeless exterior lines drawn by Espen Oeino, the mastermind behind Kismet, Solandge and the world’s largest yacht by volume, Dilbar.

In a similar scenario, Saxon Insurance Brokers are proud to have insured a Boutique Fine Art Collection aboard a Private, Cayman Island registered vessel recently, whilst the total insured sum runs into the millions, the Superyacht is responsible for the ‘lions share’ of the total sum.

Leonardo-Da-Vinci-Notebook-Superyacht-Insurance-Fine-Art-Asset.jpg

Leonardo Da Vinci is thought to have created over 200 unique pieces, from intricate technical drawings including the ‘Giant Crossbow’ and ‘Helicopter Sketch’ to beautifully intimate paintings such as ‘the Virgin and Child with Two Angels’.

Whilst the Salvator Mundi is within a private collection, the rest of Da Vinci’s works are available for public viewing, a number of them remain in the artists hometown of Florence, however there are plenty on display throughout Europe, and even as far as Washington DC and Los Angeles.

The-Louvre-Insurance-Fine-Art-Da-Vinci-Luxury-Asset-Saxon-Private-Client.jpg

Saxon Insurance Brokers are proud to work closely with a number of Fine Art Dealers, Owners and Underwriters. Our unbridled knowledge, passion and dedication to Protecting the World’s Finest Assets enables us to get the best opportunities for our clients. Whether they are displayed elegantly aboard a globally travelling Superyacht, or in a boutique private gallery in the Home Counties. Saxon have you covered.

Saxon Yacht Host 'Sundown Drinks - Ibiza'

The Saxon Yacht team and Bargate Murray Maritime Lawyers are proud to have hosted an incredibly successful ‘Captains Event’ in Ibiza last Friday…

Saxon-Team-in-La-Calma-Ibiza-Private-Clients-Wealth-Brokerage.jpg

In a joint effort to raise awareness of the importance of Insurance & Law in Yachting, both Bargate Murray & Saxon Yacht invited Captains & Crewmembers to enjoy a sundown drink and a glass of champagne at ‘La Calma’ Ibiza.

 

‘Due to the recent incident with ‘My Song’, the 39.6m Sailing Yacht from Baltic Yachts that recently fell overboard during a Shipping Passage, Maritime Insurance & Law has become a particularly popular talking point amongst Yachting Professionals’ 

 Samuel Cise - Director

 

Saxon Yacht are proud to work globally, with headquarters in London and representatives in Antibes & Ibiza, we are on hand to discuss the needs and requirements of our clients at a moments notice. Our flexible approach has been integral to our recent success, something we are extremely proud of and look forward to growing.

Superyacht-captain-saxon-insurance-brokers-private-clients-wealth-la-calma-ibiza.jpg

This event was a fantastic opportunity to hear the concerns and questions of Captains & First Officers, many of whom bare responsibility when appointing an Insurance Broker.

Saxon Yacht are proud to have a working understanding of Yacht Operations – The majority of our team hold Yachting qualifications and have first hand knowledge of the roles onboard.

Saxon-Private-Clients-Insurance-Brokers-Superyacht-Palladium-Blohm-Voss-Marina-Ibiza.jpg

For more information on the Insurance of your Yacht, don’t hesitate to get in touch with a member of our professional team.

samuel.cise@saxonyacht.com

+447874040365

Saxon Yacht Announce Expansion

Following incredible success in the Balearic Islands, Saxon Yacht are proud to announce our recent, significant expansion into Monaco & The French Riviera…

Stunning Pershing 74 from  Pershing Yachts.

Stunning Pershing 74 from Pershing Yachts.

Saxon Yachts’ Director, Samuel Cise, has expanded the company’s presence, with the allocation of an office on the Cote D’Azur. The decision has been made as a result of incredible growth in Ibiza and the Balearic Islands.

‘We are proud to serve globally travelling Superyachts, whilst Ibiza is incredibly busy throughout the summer months, the stretch of coastline between Imperia & Cannes is regarded as ‘home’ for many of our clients. With our new office in Antibes, we can be assist our clients immediately.’ 

Samuel Cise - Director

Saxon Yacht have been working closely with Superyachts based in the Balearic Islands for a number of years, the decision to expand onto the Riviera has been made to serve our clients to the standard they have become accustomed.

Superyacht ‘Lady Lara’ in  Marina Ibiza

Superyacht ‘Lady Lara’ in Marina Ibiza

Our personal approach and boutique attitude to Insurance Brokerage has meant we are able to assist globally within 24 hours, this dedication has led to year on year growth, but more importantly, a near 100% retention & renewal rate with our valued clients.

To arrange a meeting with one of our experienced team, contact Director, Samuel Cise on the details below…

samuel.cise@saxonyacht.com

+447874040365 

Do You Hold Fine Art Onboard Your Superyacht?

Fine Art and Superyachts are a timelessly elegant combination, like a Chateaux Margaux and Wagyu Beef, or a Lamborghini and the Italian Riviera…

Saxon Yacht are proud to have insured Private Collections well in excess of £10m, we are often regarded as a reference in the field of Fine Art Insurance – Our passions are all encompassing, from Sculptures and Paintings to Historical Literature. Saxon Yachts’ current policies are as diverse as they are unique.

We have had the privilege of working closely with a number of Superyacht Crew when insuring Fine Art, and have created a provisional list of things to consider when holding such unique items onboard...

Do you have the correct security onboard?

From full circuit CCTV and Wireless Protection Systems, to a fully bespoke Close Protection agreement (Check out Intrepid Risk Management). For a select few, it is an honour and a privilege to secure the worlds finest artefacts.

 A Pablo Picasso painting worth £21 million has recently been recovered after nearly 20 years. It was stolen from a Yacht berthed in Antibes!

 Physical Protection can provide far more than peace of mind, with the number of Superyachts travelling globally, the threat from Piracy has become a genuine concern for many of the worlds largest Yachts.

Physical Position

Fine Art and Historical Artefacts are particularly vulnerable to exposure from UV Rays, it is crucial to understand how to protect each and every piece of Artwork. No two pieces are the same, and an independent consultant or dealer should be contacted to advise on the best way to protect aboard your Yacht.

Light causes chemical changes in many of the materials used in paintings, this can create ‘yellowing’ or ‘darkening’ of certain pigments. Regular exposure to  UV rays can be incredibly detrimental to the quality and appearance of the artwork.

Saxon Yacht have worked alongside some of the worlds most exclusive dealers, restorers and conservators in the Fine Art circle, it is a privilege and an education every time we meet! 

Climate Control

Very few Superyachts cruise the globe without an incredibly efficient Air Conditioning system. However, they are often designed with the guests & crew in mind rather than priceless art.

Paintings are essentially layered objects, built up from the canvas with different materials with varying qualities – Each layer reacts differently to temperature and humidity, expanding and contracting at different rates. The museum standard temperature for keeping paintings safe is 20ºC ± 1ºC.  Fluctuations in temperature and humidity essentially create ‘cycles’ of expansion and contraction, thus leading to the steady deterioration in quality of the artwork.

Are the fresh air blowers directing cold air onto your artwork? Does warm air flood in whilst the Sundeck Doors are open? The finest art in the world requires a constantly stable, tailored to suit environment.

Superyacht-Kismet-Artwork-Insurance-Luxury.jpg

Vibration & Hanging Environment

Vibration is an incredibly detailed subject on board any vessel, from the Main Engine Anti-Vibration mounts, to Auxiliary Equipment and Hotel Services throughout the interior. Engineers have been minimising vibration throughout the Yacht since the moment the pencil hit the paper in the design studio.

A consultant should investigate where the optimal location is on-board, taking into account everything from the pitch and roll, to vibration levels from auxiliary equipment.

Further things to consider when deciding the location on board should include Humidity and exposure to water (Spa’s, Bathrooms and Heads), exposure to Tobacco Smoke and proximity to Food Preparation Areas.

Saxon Yacht & Saxon Private Clients are proud to work alongside the most educated, dedicated and passionate Art Collectors on the planet – As custodians for the worlds finest Artwork, it is our responsibility & honour to protect it to the highest standard that we know.

Motoryacht+Jubilee+At+Anchor.jpg

 Please do not hesitate to contact a member of our experienced, professional team to learn more about the insurance of your Fine Art.

samuel.cise@saxonyacht.com

+44 7874 040 356

Has Your Insurance Renewal Increased?

The last few years have been incredibly busy for Marine Insurance Brokers. A record number of claims have been filed in the last 24 months as a direct result of some particularly extreme weather events across the globe…

Luxury Yachts Damaged in the Italian Storms, October 2018 - Rapallo

Luxury Yachts Damaged in the Italian Storms, October 2018 - Rapallo

From the storms on the Italian Riviera in October 2018 to Hurricane Irma just a year before hand, Insurance Brokers have been inundated with claims and losses. These great financial losses are not exclusive to the yacht owners…

‘’Fortunately, Saxon Yacht have not been affected and our renewal quotes are coming back at record lows -  our clients left the areas affected at the first sign of danger!’’ 

Samuel Cise – Director

Many Marine Insurance brokers have increased their renewal premium in an attempt to offset losses occurred during the last few years, it has understandably been a particularly difficult time to maintain profits with such a high number of claims.

110 Foot Yacht Damaged in Hurricane Irma - Dinner Key Marina, Miami.

110 Foot Yacht Damaged in Hurricane Irma - Dinner Key Marina, Miami.


Insurance policies and their corresponding premiums are based solely on statistics & figures, the larger the Insurance Brokerage, the more claims they handle. The increase becomes self perpetuating, with the largest Insurance Brokerages handling more claims and therefore increasing premiums across their list of policyholders.

‘’Saxon Yacht are in an extremely fortunate position. None of our policy holders have claimed in the last 24 months due to their diligent & pragmatic professionalism. We are therefore providing quotes similar to those available 2 or 3 years ago…’’

 

Saxon Yacht are proud to have a truly boutique approach to Marine Insurance Brokerage Together with our parent company, Saxon Private Clients, we have insured over £300m in Luxury Assets. Saxon Yacht is comprised of Ex-Yacht Crew & Experienced Marine Insurance Brokers. This unique combination ensures we are able to access the best possible deals on behalf of our clients, whilst understanding the complexities and individuality of each and every Yacht.

 

Please don’t hesitate to get in touch with one of our experienced & professional Marine Insurance brokers on the details below…

samuel.cise@saxonyacht.com

+44 7874 040 365