INSURANCE

Sonny Brown · Post by **Sonny Brown** » Fri Dec 07, 2007 09:56

Finally got it all straightened out. It is fully covered with Valerie for approx: $1075.00 a year. Which amazed me due to his hours, approx: 12,000 hours total time and roughly 130 in type. I guess it is the nature of the beast with a Pacer. This one has yet to exhibit any off the wall habits, BUT, it is still no Aeronca. He had one a couple of years ago with 180hp and a constant speed prop. Talking about a handful putting it nicely, it would eat your lunch in a heartbeat. Thanks for the help guys!

jc pacquin · Post by **jc pacquin** » Tue Jan 13, 2009 13:28

A thought occurs. AIG has been bailed out by us (taxpayers). "Market forces" claimed to be adequate for policing wall street did not consider people who steal. In any event, it might be wise to check CAREFULLY on your aircraft insurance and ask for a policy update stating that YES your policy is in force as of the date of the letter. Insurance brokers and companys are notorious for not performing when something bad occurs. I have always insured with AVEMCO and find them easy to deal with.JP

MikeB · Post by **MikeB** » Tue Jan 13, 2009 14:03

I'm up for insurance renewal in March and I'll recheck with Avemco. I've pretty much always had AIG through the broker for whatever that's worth. Never had a problem but never had a claim either. Right now I'm flying on Light Sport. I just passed my annual (non-aviation) physical and have decided to continue on LS for now as I no longer fly anything more complicated than a Champ anyway. I think both AIG and Avemco support Light Sport with no restrictions.

Mike Berg

Mnflyer · Post by **Mnflyer** » Tue Jan 13, 2009 15:41

I am just waiting to see what AIG will do at renewal time I have a gut feeling the rates are going to go up as stated we the tax payers have bailed them twice now I bet the policy holders will do it next time around.
HI Mike I've been flying LS with AIG for 2.5 yrs now they hiked the prem. $90.00 on renewal saying it was for LS then last year it came down $20.00 ( maybe that was the Taxpayer bail out?) but other than that no big deal going LS.

MikeB · Post by **MikeB** » Tue Jan 13, 2009 17:44

Looking back, I see I paid $514 for $500,000 liability and ground only last year. I'm guessing I should be a good risk with no claims unless they start to factor in the age and LS thing. It's too bad you can't shop around (other than Avemco) for coverage because it seems once they put your name out for a quote you're kind of stuck with whatever comes through. I don't seem to get a lot of hours each year (50 would be a lot) and pretty much shut down for the winter. Maybe if gas prices stay down, I'll be more inclined to go 'bug smashing' on nice evenings.

Mike Berg

Nathan K. Hammond · Post by **Nathan K. Hammond** » Wed Jan 14, 2009 12:55

I think aircraft AIG and "The AIG" are considered seperate company's. Not that it will stop them from hiking rates.

nkh

Mikek · Post by **Mikek** » Wed Jan 14, 2009 13:41

jc pacquin wrote: I have always insured with AVEMCO and find them easy to deal with.JP

I am also with Avemco doing LSP, all private and above are covered but need to list an SP flying my Champ. No real increase when going to SP, also no claims so do not know real what I have.

The listing of sport pilots came up when I checked if my IA would be covered doing a maint check flight as a SP.

Mike K

jc pacquin · Post by **jc pacquin** » Thu Jan 15, 2009 13:14

insurance from reputable company, and change oil more than necessary. However I have to admit I've never had a claim with Avemco.....so...who knows!? Usually it gets into interpreting "fine print." IE: Katrina, where the insurance companys refused to pay because "water damage" caused it not wind. IT WAS A HURRICANE! They got away with it in most cases! Or how about the guy in the cub who took off with a camera in the front seat and hit a truck, purposefully pulled across the runway. It was determined the cub did not have proper visibility! This is lawyers being lawyers, and nothing to do with common sense or expertise. JP

MikeB · Post by **MikeB** » Fri Mar 06, 2009 13:20

FYI
Just got my insurance renewal from AIG (!!). $503 down from $514 last year. Liability and ground only at $22,000 value, $500,000/$100,000/$1000. $100 deductible for ground. Age 69, 273 in type, 959 total time, private (light sport). Private airport with grass strip and hangared.

I actually raised my value from $20,000 to $22,000 but the premium still went down $11. Whether it has any bearing on the premium or not, I've been with the same broker and insurance company for years with no claims.

Mike Berg

jc pacquin · Post by **jc pacquin** » Fri Mar 06, 2009 13:58

I have hull and liabilty which comes to 1200.00 per year. This is reduced alot when I have just hangar insurance during winter months. I have over 2500 hours in tail draggers and about 300 in trikes. I use Avemco because I've always used them which is not a very bright reason but most at the airport also use them and they are VERY response oriented and very accomadating when I call. In todays paper, AIG is in deep s---! but the underwriter may be OK. One things for sure, the taxpayers will pay your claim if something happens. They are BROKE! JCP

flyingfool · Post by **flyingfool** » Fri Mar 20, 2009 17:06

From what I understand AIG insurance area is doing OK. It is the other "investment" side of hte house that is a mess. If AIG goes under the insurance part will be portioned off. Besides, the governemnt keeps telling us AIG is "too big to fail" so they will keep pouring "our tax money" to them to keep them afloat. Or so it seems.

I have 700hours Commercial, isntr. CFI. Less than 100 hours tailwheel. Insured for $20,000 hull flight and ground in motion. I paid last year throug AUA $865.

I was told that flight insurance for the hull value is about 40% of the cost of the premium. So that if I lowered the hull coverage I would save 40% of that amount lowered. Or that I could reduce the premium by about 40% if I were to eliminate flight hull coverage.

Maybe it is because of my advanced ratings that I'm getting reasonable rates. But when shopping last year, AUA is the best quote I got.

AUA and Butler Brown Insurance I think both specifically cater to antique aircraft coverage. One of the principal owners of AUA I think is also on the EAA Vintage board of Directors!

Good luck.

MikeB · Post by **MikeB** » Fri Mar 05, 2010 14:23

Just sent my insurance reponse in for renewal. I asked for 500,000, 100,000/1000 again. Also, asked for a quote of 500,000, 500,000 (if there is a such a thing). Last year the premium was slightly over $500 with liability and ground, hangered. As I jumped over 70 this past year I don't know if they quantify differently because of my age. Actually only logged less than 20 hours last year

. Too much time on the L16 project or working at the airport, I guess. I need to improve on that this year. Flying to Middletown would help

.

Mike

MikeB · Post by **MikeB** » Tue Mar 23, 2010 22:26

Just renewed my insurance on the Champ at $500,000, 100,000/1000 with liability and ground only at $22,000 for $478 so that's a drop of about $22 from last year (imagine that

). I did ask for a straight $500,000 liability but they wouldn't write it for whatever reason. He didn't give me the company but I suspect it's AIG again and I forgot to ask.

MikeB

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