Insurance

I have hull not in motion. I don't know why it would not be covered in a garage. It cost me $775 with no time in type and no tail wheel endorsement. I had about 3 hours tailwheel time at the time.

Kevin
 
Interesting gamble, and I know many who have taken it with success. In my case (gear up landing not my fault...prop tip ding that was my fault) it would have been the equivalent of going bust in Vegas and having to eat out of a dumpster. That unfortunate shop in Albany Oregon ended up charging my insurance 30k for the repairs after the gear-up. The prop tip ding was far less costly to them, and was one of those unanticipated blessings, as the tear-down revealed that the engine was trashed by neglect and rust and needed a total overhaul....well...a blessing in a sense, as I had to pay for the overhaul of course.

Not in motion only insurance is for people who have confidence in their airplane, their piloting skill, and their mechanic capabilities. I've none of those three, though I can hope for one once I finally have the opportunity to put some meaningful hours on my 'Master :P If my airplane can finally hold up to that, I may achieve two out of the three. However, I will never be anything but a danger to myself should I ever pick up a wrench in earnest :roll:

Jonathan
 
Dave, you might as well just call up the broker of your choice and get a quote. The price is right (zero). From my previous entry -

"Nancy at Facer told me that when you go to one broker, they check with all the underwriters for a quote. On Cruisairs, that's only Global, and AIG. AVEMCO is direct writing, so you go to them directly.

Each underwriter will give their quote, so even if you go to another broker, the underwiter will give their same quote regardless of broker."

Larry
 
10-roger Larry.
Right now I have it covered under my homeowner's insurance 'cause it's still in the garage.
The second it leaves for Madison County Executive, I'll get the insurance.
Any preference service-wise of Avemco vs the others?
 
I am surprised your home owners will cover it. I know of a number of folks out here that said there home owners would not cover a plane. :lol: :lol:
 
NC74392 said:
On "Hull not in Motion" insurance-
1) How does no time in type affect the rate?
2) Does that cover it if it were still in my garage under reconstruction, or just at the A/P?
3) What's "reasonable"?
Click to expand...

1) Insurance companies work off a set of metrics that over time set the odds in their favor. Some things they look at are TT, tail wheel time, complex time, time in type, and if you’re not geriatric. If you’re low in these times or over a certain age you pay more or are uninsurable.
2) "Not in motion" is cheaper than standard hull insurance. Mine includes standard liability. If you’re not flying some insurance companies have a storage policy. Liability is much cheaper; I'm not certain how hull insurance is affected by a storage policy. You'll have to ask.
3) My view is that when you buy insurance at a given price you're betting you will have an accident. When the insurance company sells you a policy it is betting you will not have an accident.

While metrics in the first paragraph may happen to apply to a large population, they do not apply to everyone. I know and have flown/instructed with 80+ year old pilots and younger low time pilots with good judgment and standards with respect to weather, who understand human factors, have good skills, have little time in type, they know how to manage maintenance, stay current, and they are excellent low risk pilots. The metrics the insurance companies use for quotes are unreasonable for these pilots, if they can even get a quote. Probably a slight minority of the pilot population.

On the other hand, there are those that meet the metrics, but lack standards, skills, currency, and attitude to be safe. Probably also a slight minority of the pilot population.

Most are probably between these extremes.

By determining the group you're in you can conclude the reasonableness of the quotes you get.
 
My Cruisemaster is currently stored in my garage/workshop. I carry liability and $20,000 ground only / restoration insurance from Butler-Brown. It typically runs $400-$450 per year.

Dave York
 
Insurance this year will run $704 for standard liability and $20,000 hull not in motion. Same as last year. AUA used Global as the underwriter. I figure insurance companies made a $12,000 profit off of their bets with me the last 20 years. I'll do my best to let their good fortunes continue.
 
Here we go again! Increase of 100 bucks but My hull value went up 10K. figure this crap out. What a country! Lynn :evil:
 
What the ****. Just got an insurance quote from AOPA again. Your ass is paying for AIG. I've owned the crate for 7 years and have 620 hours on it. The insurance has gone UP every year but this takes it. Global Aero who I have used for the past 7 yrs. has a 454 buck increase for the same coverage NOTHING CHANGED! AOPA had an alternate Starr for a 93 buck increase same coverage but nobody but me flying it. I went with the Starr. I asked my agent what the **** is with this crap and he told me that they (Global) have had bad luck with this make and model. Sounds like Obama to me so goodby Global hello Starr. Don't even try Avemco as they were just outragous. I still say that aviation is dead and continues to wither. This insurance crap just proves my point further. :evil: :evil: Lynn the crate
 
Well, maybe we are comparing apples and oranges...........I don't carry any hull, just liability and medical. My bill through Butler and Brown for the 14-12F3, the T14-14 and a Cessna 120 is less than $1,300 and has remained so for a few years. Dan
 
I go though AUA in EAA's vintage program. We changed underwriters from Global to Old United. Insurance dropped $50 to $660. I have standard liability and hull not in motion. I've been nothing but profit for the insurance companies and hope to keep it that way. My rates have doubled in the 20 years I've owned the plane.
 
Well boys to update you, I carry Full coverage ground and flight. One nice part about Starr is there is no deductable where as Global was 250/50. The total bill is 1468 and seven yrs ago was 995 go figure. You can bet your booty that we are paying for AIG bailout. Lynn the crate :evil:
 
I just got liability only from a company that I have not seen mentioned on this forum. The carrier is U.S. Specialty Insurance Company. The agency I used is Bramar Associates, of Paso Robles Calif. 805-237-0666. I had used them before for non owners coverage, since I fly other peoples planes more than my own.(soon to change). I paid 750$ for 1mil,100k per seat and very little medical. I am fairly low time, and keep my plane on a private non registered strip (it is paved) so this was the only company that would cover me. The agents name is Ian Webster and was very nice to deal with.____Good Luck,___Grant.
 
The last AOPA Pilot mag had a great article on insurance. Interesting they described "blocking" where the first broker you go to essentially gets the only real quotes you could get, and if you went to another, you'd get the same quotes (assuming they go to the same underwriters). In the case of Cruisairs, there are only 2 or 3 underwriters. Apparently they can no longer block you, so it may be worth while shopping around now.
Larry
 
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