Insurance for engines and spare parts

5th June, 2017

One of our clients has a collection of cars, ranging from a Ferrari to a vintage car, as well as historic racing cars. He contacted us to ask if we could insure an engine. With experience arranging insurance for vehicle parts, we felt we had the knowledge and skills to find an appropriate policy for his engine. 

The engine in question turned out to be a vintage aircraft engine, worth a six-figure sum and with its own transportation trailer. 

Insuring an aircraft engine is not commonplace, as you can imagine. But, armed with a photograph, so we could understand what we were being asked to insure, we spoke directly to the underwriters to discuss the matter. They made their decision on the perceived risk and with a common sense approach rather than a computer generated rating, we both agreed that the risk was acceptable, especially considering the engine was part of a collection.

The client was delighted, as everyone else had turned him down. He was not only able to obtain cover, but he realised it would all be covered under one single policy.