The MG Car Club has launched ‘MG Car Club Insurance’ – a new insurance scheme administered by Peter James Insurance designed specifically for members by MG enthusiasts. The scheme will offer benefits that create a compelling reason to join the MG Car Club and, through its focus on insuring young drivers, aims to break down the barriers to young people owning MGs and participating in club activities.

MG Car Club is committed to helping young people become owners of an MG via its active Young Members branch. Now, through the scheme provided by Peter James Insurance – young enthusiasts who are members of the MG Car Club can access fully comprehensive insurance on their MG. This is a significant benefit over most other specialist insurers, who often set an age limit of 25 or 30 for classic car insurance.

Recognising that many young enthusiasts are keen to be involved but may not yet own an MG, Peter James Insurance have designed an option for ‘Accompanied Driver Cover’ where they can drive an MG with a parent or grandparent alongside them for a modest additional premium.

In addition to this the scheme prioritises club activities, with the aim of enabling MG Car Club members to derive more value from their club membership with peace of mind of knowing that their pride and joy is protected by a scheme designed with input from the club.

The benefits of ‘MG Car Club Insurance’ are to be unveiled at the 2024 NEC Classic Motor Show, where a champagne reception will be held for MG Car Club members at 10.30 am on Friday, 8th November, in Hall 3, Stand 150. MG enthusiasts will hear more details on the scheme’s benefits and chat informally with Dave Youngs, Partnerships Director at Peter James Insurance. The launch will also feature interviews with car owners and the Club’s President, John Day.

MG Car Club members can now benefit from: *

• Exclusive rates for MG Car Club members
• Additional discounts based on length of membership
• Free and simple agreed value
• Cover available for classic and modern MGs
• Free salvage retention – in the event of a total loss, we will pay the full agreed value for the vehicle, and you may retain the salvage free of charge
• Free Member to member cover – drive another club member’s MG with fully comprehensive cover regardless of who they are insured with
• Multi-vehicle cover
• A range of options for young MG enthusiasts
• UK and European Breakdown Cover included
• Tools and Spare Parts Cover (up to £3000)
• Self-repair option
• Legal expenses cover
• Laid up cover
• Limited mileage discounts
• Cover for ‘MGs on Track’ events

Peter James Insurance is well-known for providing specialist classic vehicle insurance and has been positioned at the heart of the historic vehicle community for many years. Dave Youngs, Partnerships Director at Peter James Insurance, said, “We’ve worked closely with the club to develop a bespoke scheme designed to fulfil members’ needs and offer a true benefit of membership through discounted premiums and unique features to help you enjoy MGs with peace of mind.” 

Lorraine Noble-Thompson, Chairman of the MG Car Club, explains, “Our objective was to create the best insurance scheme available for MGs anywhere in the market adding significant value to being a member of MG Car Club. Our new and exclusive features have not only addressed shortcomings in our previous insurance, but also provides members of the MG Car Club unique benefits they cannot get anywhere else. Now, MG Car Club members can rely on an insurance scheme built by the club itself. Whilst the scheme has been geared to primarily meet members’ insurance needs and deliver exceptional value to them, the addition of financial support generated from the initiative will allow us to invest in further activities, events and benefits for MG Car Club members.”

Director of the MG Car Club, Neil Brant added, “While the areas already outlined are essential, they are just the tip of a significant iceberg. We consulted with the MG Car Club members to add a whole raft of extra benefits and levels of cover that we knew were essential to the full enjoyment of MGs of any age or era, from pre-war cars to modern EVs. The team at Peter James Insurance have been responsive and flexible at every step to ensure the needs of the full spectrum of our members can be met.” 

The insurance world for MG Car Club members is changing for the better. To protect your MG motor car of any age, call 0121 506 6026 or visit www.peterjamesinsurance.co.uk/mgcc for more information. 

Maserati MCXtrema: Pushing the Boundaries of Performance and Design
The Maserati MCXtrema, ‘The Beast of Modena’, is powered by a formidable 730-horsepower V6 three-litre twin-turbo Nettuno race engine. A track-only creation, it epitomises the Italian luxury brand’s racing heritage. Limited to just 62 units worldwide, it has been honed to dominate circuits with precision, power, and elegance, through a perfect blend of cutting-edge racing technology and Italian craftsmanship.

The customer, a passionate car collector and racer with his own racing team, worked closely with Maserati during the creation of his own MCXtrema. From visits to the House of Trident’s Centro Stile design headquarters in Italy, to being a passenger in a prototype car at the Paul Ricard circuit in France, his journey reflects Maserati’s commitment to offering a unique and tailored experience for its discerning customers.

Commenting on the arrival of his car, the delighted owner said, “I’m thrilled to receive the keys to my very own MCXtrema today. A lot of work has gone into defining the car to my exact configuration requirements and I couldn’t be happier. It’ll be great to get it out onto the track shortly where it belongs and seeing what it can really do in the UK!”

Crafted for the Track
The Maserati MCXtrema has been meticulously developed with an uncompromising focus on track performance. On the outside, the engineering team worked tirelessly to achieve a race honed architecture, using minimal ride height, fully flat underfloor, front splitter, rear wing and shark fin, plus sculptural rear diffuser, all for optimum aerodynamics.

Inside it features a racing seat with six-point belt and roll cage, a carbon and aluminium steering wheel with five-inch central display, buttons rotary selector and ergonomic grip. The MCXtrema’s carbon-fibre monocoque chassis ensures maximum rigidity, while maintaining a lightweight structure that results in a kerb weight of circa 1,300kg. It also features new double-wishbone suspension geometry and kinematics, as well as fully adjustable racing dampers, springs and anti-roll bars, plus cast-iron racing brake system. Fully optimised for track conditions, the MCXtrema benefits from incredibly agile and precise handling.

Designed by Maserati Centro Stile and made entirely in Italy, every aspect of the MCXtrema has been painstakingly engineered to deliver exceptional performance. The car underwent extensive virtual simulations and over 200 hours of real world dynamic testing to refine its handling and performance, ensuring it excels under the most demanding conditions. Seamlessly blending beauty with function, the result is a car that is as visually striking, as it is capable on the racetrack.

This UK delivery follows the global debut of the MCXtrema at Monterey Car Week earlier this year, where it made its track appearance at Laguna Seca in the USA. Maserati’s Chief Test Driver, Andrea Bertolini, has been deeply involved in its development, pushing the car to its limits around many of the world’s most iconic circuits.

The MCXperience
For every MCXtrema owner, Maserati offers a bespoke ownership experience through its exclusive MCXperience program. This initiative allows them to fully immerse themselves in Maserati’s racing heritage, with access to curated track events and the expertise of the Maserati Corse (racing in Italian) professional team. 

Through the MCXperience Concierge, owners can also participate in tailored driving experiences and enjoy dedicated aftersales support, ensuring that every aspect of their journey with the MCXtrema is exceptional.

In addition to these experiences, each MCXtrema comes with a specially designed racing kit, developed by Maserati in collaboration with Sparco, a leader in motorsport apparel and equipment. The kit, created exclusively for the discerning owners of each car, enhances the driving experience by offering the highest level of comfort and performance on the track, allowing drivers to fully embrace the car’s racing calling.

• Yesterday’s budget announced an increase in Capital Gains Tax (CGT) on the sale of assets
• Classic cars are exempt from capital gains tax as ‘wasting assets’
• Car & Classic reminds people that classic cars are a tax-efficient investment post-budget

London, 31st October 2024 – In light of the recent Autumn 2024 Budget, Car & Classic announces that classic cars are exempt from the increase in Capital Gains Tax (CGT), a change that could make them an attractive, tax-efficient investment. With CGT rising from 10% to 18% for the lower rate and from 18% to 24% for the higher rate, this exemption offers an advantage for those considering classic car ownership.

While the CGT hike affects most investments, cars purchased for personal use, whether classic or modern, continue to be classified as ‘wasting assets’ and are therefore exempt.

Tom Wood, founder of Car & Classic, explains, “Unlike other assets, classic cars, while legally considered ‘wasting,’ often appreciate over time due to factors like restoration, rarity, and historical appeal. For collectors, the CGT exemption adds even more value to these vehicles.”

To qualify for the CGT exemption, cars must remain in their original ‘personal use’ configuration. Any modifications, such as for racing, could change their tax status.

With classic cars consistently appreciating in value and now confirmed as a CGT-free asset, Car & Classic invites the public to explore its vehicles for sale via auction on Europe’s largest classic and specialist marketplace https://www.carandclassic.com