Liability only insurance for Experimental?

[CptKelly]

Does anyone know of an insurance company who will insure an Experimental aircraft for liability only?

Mike

[flyboy1964]

avemco

[CptKelly]

I had a friend who told me that Avemco was very pricy. Do you guys find that to be true?

Mike

[MikeB]

I had Avemco quotes a couple of times. It does seem like they were somewhat higher than my present carrier. My understanding is that their claim service is good, though. Never had a claim so I can't confirm it.

It would seem whoever is the 'official carrier' listed on the EAA site would cover the experimental catagory. Could be Falcon insurance??

I have a friend who has an RV and I can find out his carrier if that would help. Pretty sure it's not Avemco as we were talking about it some time ago. I think his RV is insured for about 100,000K and he felt the premuim was reasonable.

MikeB

[PB Schafer]

Falcon insurance used to quote liability only, but it is markedly higher in proportion to full coverage. It seems it was about 75% of full coverage. My experience with Falcon was
very good. I would use them again.

[Captgrumps]

Liability alone is always higher proportionally than full coverage. Light Sport insurance is also proportionally higher either way.

Doug

[jc pacquin]

been with Avemco for 30 years. Last winter(snow storm) hangar collapsed on airplane. Ruined it. Appraiser showed within the week. Totaled it. Asked if I wanted to buy it back. I did not. 10 days later check arrived for full amount I had insured it for. Avemco is direct...no agents. Located in Fredrick, Maryland. Very prompt, easy to deal with. JP

[Jerry Eichenberger]

Avemco is a very good company, but they have some quirks in their sublimits of liability coverage. their sublimits are per person, not per passenger - huge difference. Comparing their premiums to other companies is not apples to apples.

Also, Falcon is NOT an insurance company, just a agency like many others.

When you omit hull coverage, you do get a surcharge on the liability premium.

Personally, I recommend anyone to find a good agent who can explain all of this to you - few pilots understand much about insurance, and think it's like buying skim milk - go to the store that sells it for least. Well, that's not the case. If your agent won't take the time to explain it to you, or can't - find another agent.

[jc pacquin]

if you call Avemco....they are very courteous and will explain the coverage EXACTLY. The fellow in the hangar next to me had a real bad experience with not only the broker but with the insurance company. It took him A LONG time and many calls to get them to pay...reluctantly. His airplane was also destroyed in the collapse. Cheap is often times expensive. Also.....if you decide to leave it in the hangar and not fly it for say....3 months, Avemco will only charge you hangar storage for that time if you call them and explain the circumstances. It saves me quite a bit if I decide to hang it up for a month or two in winter.JP

[Jerry Eichenberger]

JP -

As I said, Avemco is a very good company; I have many friends there. All I said was that their policy language with respect to liability sublimits is a bit different from most of the other companies.

Every company of which I'm aware will do ground only coverage as well during a time that the airplane, or pilot, is laid up for whatever reason. This is frequently done with open cockpit airplanes during the winter - people who fly Pitts, Acrodusters, Skybolts, etc. typically get ground only coverage for 3 or 4 months if they are in a winter clime, regardless of which company insures the airplane.

And I sure agree that cheap often becomes expensive.

[MikeB]

I guess I don't understand why there would be a problem paying the insurance claim when a hangar collapsed on the plane, unless they are calling the situation a 'Act of God". Usually everything is pretty much spelled out in the insurace policy for situations. I will say we had a machine shed on our farm collapse from a snow load several years ago and it wasn't covered but the policy specifically stated "wind and fire were covered but not snow load'. One needs to read the policy and all the 'goobly-gook', I guess.

I had a new hangar being built several years ago and my agent was in the process of trying to get insurance on it when it blew down in a very bad wind storm. Straight line winds over 70 mph. As the door wasn't completed yet, the wind got under the building broke off some of the poles and jerked the rest out of the ground. Anyway, pretty much wrecked the building but only a small dent in the wing of my Champ thank goodness. My insurance agent (friend of mine) offered to split the cost of putting it back up with me which I thought was darn nice of him. Apparently there is reluctance in some companies to insuring anything to do with an airport.

MikeB

[Captgrumps]

Many moons ago my grandfather ran a fire insurance company in a rural area. I traveled with him alot as a kid and learned one thing--insurance companies do not gamble. i have watched him put a thermometer in a hay loft checking for possible combustion hazards, check house fuse boxes for pennies under fuses, use his pocket knife to cut a dead cows leg to check for blood formation and tell the farmer the cow did not get struck by the lightening storm last night, she died two days ago from something else. Helped him deliver free spark arresters to put on chimmneys that had alot of soot on the roof--the owner had to install or insurance was cancelled. He never went to LasVegas either.

Doug

[jc pacquin]

Have I got the spelling right? Actuarial tables? In any event, insurance companys DO gamble! On these tables they try to predict the odds. Including for instance, when you will croak, Hurricanes.etc, etc. The one that hit New Orleans was caused by WIND. It in turn caused a FLOOD. The insurance companys lost on this one so.....they changed the rules and stated that a flood caused the damage not wind. Lawyers really perk up when this type thing occurs as they can parse the many meanings of what the policy "really means" and so forth. They always clean up regardless of how its settled. In the case of American Airlines, when the taxpayers bailed out the airlines (GOVMINT!) The lawyers that handled the bankruptcy made 400 million. And so it goes, on and on! JP

[kparker]

Guys,
After several failed attempts at getting 'libility only' insurance on my plane I called Melonie Birch at 1-800-727-1247. (Facer Insurance Agency). She secured insurance with US Speciality Company for me in two days. Around $536 for libility only....add another $500 for hull which I did not want.

Very friendly service. I recommend her highly. If you call her tell her I sent you..Nothing to me but I would like for her to know that I appreciated her getting this for me.

BTW I called AUA (which carries insurance on another plane) in early December and still have not heard from them...in fact I have called them numerous times and cannot even get a reply much less a quote.

For your information....

Keith Parker

33683

[joea]

Jody Wittmeyer and I both use the same lady that Keith above does and are very happy with them. Saying the word "Keith and Joe" at the Aeronca community helps.