ERS insurance, formerly Equity Red Star, is the UK’s largest specialist motor insurer, insuring customers directly through motor brokers. ERS specializes in complex risks that other insurers are unable to write. What distinguishes ERS is its ability to understand the value of equity that a customer places in their vehicle, which they used to create a new insurance category called “Equity Insurance.”
This ERS insurance article will provide you with a more in-depth understanding of who ERS insurance is, its policy, coverage, and contact information.
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Who are ERS Insurance?
For over 70 years, ERS insurance has been a leading motor insurer in Lloyd’s underwriting business. Their policies are only available through motor insurance brokers because they are motor-only, broker-only insurers.
Private cars, classic cars, vans, supercars, imported vehicles, motorcycles, taxis, minibuses, fleets, haulage and agricultural vehicles, as well as high-risk drivers, sportspeople, and celebrities, are all covered.
What does ERS stand for in insurance?
Equity Motor Policies, a Lloyd’s syndicate, founded ERS in 1946. The company merged with Red Star in 1987 to form Equity Red Star. Nine years later, Cox Insurance, Lloyd’s underwriting firm specializing in nuclear, marine, and catastrophe insurance, purchased the company.
Following losses incurred as a result of 9/11, Cox Insurance withdrew from commercial insurance in 2002 to focus on personal lines.
In 2005, a management buyout of the company resulted in a new focus and a new name, Equity Insurance Group, led by CEO Neil Utley and backed by investors Englefield and Duke Street Capital. Its headquarters are in Brentwood, Essex. Additional facilities can be found in Colchester and Swansea. Bennetts, Insure-shop, and JMW were merged to form Equity Insurance Brokers, the group’s high-street broking network.
On December 4, 2006, Australian insurer Insurance Australia Group announced the acquisition of Equity Insurance Group and Open + Direct Insurance Services, the largest retail broking operation in Northern Ireland, for £570 million. The acquisition was completed on January 8, 2007, and Neil Utley, the then-CEO, joined IAG’s executive team. IAG also bought Barnett & Barnett in 2008 and sold its branch-based broking in 2009.
IAG sold Barnett & Barnett and the NBJ Broking division in May 2012. Aquiline, a private equity firm based in the United States, paid £80 million for Equity Insurance Group from IAG in April 2013. As a result, EDBL and its accident and household business were sold to Canopius. Equity Insurance Group rebranded to ERS in April 2014, becoming a “motor only, broker only” insurer. It is now solely an A+ rated Lloyd’s Syndicate 218.
In 2014, ERS underwent structural changes that resulted in the consolidation of ERS’ offices into two locations (London and Swansea). Only RH Insurance, ERS’ direct classic car arm, continues to be serviced in Brentwood.
Ers insurance benefits
ERS insurance offers its customers lots of value for their money including:
- A market-leading level of customer service.
- Your claim will be handled by a specialized team.
- A network of approved suppliers to get you back on the road as soon as possible.
- Keeping your premiums low by preventing fraud
- To keep costs down, handle third-party claims positively.
- The have sophisticated tools to make claims go as smoothly as possible.
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Ers insurance claims
Nobody enjoys the prospect of having to make a claim. However, by following these two simple steps, you can ensure that everything goes as planned:
- If you do not notify your insurance company within 48 hours, you may be required to pay an additional excess. If it is safe to do so, please call the company from the scene of the accident.
- Photograph any damage to the vehicles involved.
Ers insurance customer service number
- If you need to report an accident, fire, or theft claim, dial 0330 123 5992.
- ERS insurance experts are available 24 hours a day, 365 days a year. Their knowledgeable staff will take down the information and assist you in getting back on the road as soon as possible.
- If your claim is the result of theft, attempted theft, malicious damage, or vandalism, you must also notify the police and obtain a crime reference number.
Ers insurance windscreen helpline
- If you need to report a windscreen claim, call this number (0345 602 3378).
- They are open 365 days a year, 24 hours a day.
ERS insurance Cover
ERS insurance covers the following:
- Liability to others
- Loss of or damage to your vehicle*
- Medical expenses
- Personal accident
- Personal belongings
- Loss of keys and replacing locks
- Child Seat
1. Liability to others
Driving your vehicle
ERS insurance will cover any accident that occurs while you are driving, using, or in charge of your vehicle, or while loading or unloading it.
The company will insure you for any monetary damages you may be required to pay as a result of causing death or injury to others.
The maximum amount that will be paid for property damage is £20,000,000 for any claim or claims arising from a single incident.
Furthermore, they will pay up to £5,000,000 for any costs and expenses incurred as a result of a claim or claims arising from a single incident.
If a property-damage claim is made against more than one person covered by this insurance, the company will deal with any claim made against you first.
Driving other vehicles
They will also provide the above-mentioned cover (if it appears on your certificate of motor insurance) to drive any private car that you do not own and have not hired under a hire-purchase or leasing agreement, as long as you have the owner’s permission to do so.
You will not be covered for:
- If there is any loss or damage to the vehicle in which you are travelling,
- The event that occurs outside of the United Kingdom.
- Legal responsibility if the insured vehicle is no longer in your possession.
- Any occurrence that occurs when this insurance is not in the name of a specific person
Other people driving or using your vehicle
ERS insurance will insure the following people in the same way that you are:
- Any person you permit to drive or use your vehicle, as long as this is permitted by your current certificate of motor insurance and is not prohibited by an endorsement, exception, or condition.
- Any passenger who is injured while travelling in, entering, or exiting the insured vehicle, as long as you ask us to cover the passenger.
2. Loss of or damage to your vehicle
ERS will insure your vehicle for loss or damage (less any applicable excess) caused by:
- Damage caused by accident or malice, flooding, or vandalism;
- or fire, lightning, self-ignition, and explosion
- stealing or attempting to steal your vehicle, or taking your vehicle without your permission
3.ERS insurance medical expenses claims
ERS insurance will pay up to £200 for each person’s medical expenses incurred while in your vehicle as a result of an accident involving your vehicle.
4. ERS insurance personal accident benefits claims
If you or your husband, wife, or civil partner are involved in an accident and it is the only cause of death or injury within three months of the accident, ERS will pay the following amounts.
- Death £7,000
- Loss of any limb £5,000
- Permanent loss of sight in one or both eyes £5,000
The most we will pay in any insurance period is £7,000. To get a payment, the injury or death must be directly related to an accident involving your vehicle; or have occurred while you or your husband, wife, or civil partner were travelling in, or attempting to enter or exit, any other private motor vehicle.
The company will only pay out under one contract if you or your husband, wife, or civil partner have any other insurance with them.
This personal accident benefit does not apply to:
- anyone who is 70 or older at the time of the accident;
- death or bodily injury caused by suicide or attempted
- suicide; or
- any incident unless the insurance is in an individual’s
- name
5.ERS insurance Personal belongings claims
Personal belongings in or on your vehicle are covered by ERS insurance up to £100 if they are lost or damaged as a result of an accident, fire, theft, or attempted theft.
This personal belongings cover does not apply to:
- money, stamps, tickets and documents;
- goods or samples associated with any driver’s or passenger’s work;
- property insured under any other contract;
- child seats or child booster seats
6. Loss of keys and replacing locks
If your vehicle keys are lost or stolen and not recovered, ERS insurance will pay up to £500. We will cover the cost of replacing the entry key and transponders, as well as the ignition and steering locks that can be opened or operated with the missing items. This is true as long as:
- You notify the police as soon as the loss is discovered; and
- Anyone with your keys or lock transponder would indeed be able to determine the address where your vehicle is kept.
You will not be required to pay an excess for any claim made under this section, and it will not affect your no-claim bonus.
7. Child seats
ERS will pay up to £150 to replace a child seat or child booster seat in your vehicle at the time of an accident or theft covered by Loss of or damage to your vehicle by this policy. Even if there is no visible damage to the seat, we will provide this cover.
IS ERS a good insurer?
Equity Motor Policies, Lloyd’s syndicate, founded ERS in 1946. The company merged with Red Star in 1987 to form Equity Red Star. Nine years later, Cox Insurance, Lloyd’s underwriting firm specializing in nuclear and catastrophe insurance, purchased the company.
Aquiline purchased the company in April 2013 after a series of acquisitions, including a management buyout. In 2014, the company announced a new strategy to become a motor-only, broker-only insurer and rebranded as ERS, focusing on motor insurance and speciality products. The focus and expertise of ERS insurance are very much focused on protecting people’s passions or livelihoods. Read more about ERS insurance policy here.
Conculusion
ERS insurance has an A+ rating and is suitable for all types of vehicle owners. coverage for owners who truly understand their needs, such as supercar collectors, taxi drivers, fleet managers, farmers, and mobile caterers. ERS is the way to go if you value quality.
FAQs about ERS Insurance
For over 70 years, ERS has been a leading motor insurer as Lloyd’s underwriting business (Syndicate 218). Their policies are only available through motor insurance brokers because they are motor only, broker only insurers.
ERS is the way to go if you value quality.
Visit the Ers insurance office for your cancellation at anytime
IQUW Syndicate Management Limited (registered number 426475) manages ERS Syndicate 218 at Lloyd’s, which is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority (FRN 204851). The registered office is located at 21 Lombard Street, London EC3V 9AH.
