insurance roundtable

[mike.smith]

6 years ago when I first insured my tailwheel Sonex I paid $1,657 for liability, passenger medical, and a $35,000 hull value. I have the same insurance now and it looks like this:

Global Aerospace(Current Policy)
Value: $35,000 Premium: $928
Ded $0/0
Liability: $1,000,000 limited to $100,000 per passenger Premium: $211
Total Annual Premium: $1,139

My premiums have generally gone DOWN, or remained level. I think that's because it's a tailwheel, and with more time and experience they have been able to decrease my rates. The only time it went up was by about $100 after I had a prop strike and repaired the engine (myself). It went back down the next year.

I'm instrument rated (not current). I have 930 hours of total time, 507 hours of Sonex time (some of that is tricycle gear while doing flight testing on another person's Sonex), and 508 hours of tailwheel time.

I'm still waiting to get my numbers back for this year, so I'll report back when I do.

[fastj22]

While we are complaining about insurance, let me vent one of my peeves.
With three planes, why do I need three separate liability policies covering only me? Shouldn't liability cover the pilot, not the plane?
I can only fly one at a time. Or at least set a single policy on the highest risk plane.

[BRS]

While we are complaining about insurance, let me vent one of my peeves.
With three planes, why do I need three separate liability policies covering only me? Shouldn't liability cover the pilot, not the plane?
I can only fly one at a time. Or at least set a single policy on the highest risk plane.

Agree

[Sonex1517]

I just got the quote for my Sonex through Global

$1065

I am instrument rated (also not current) with about 250 hours tailwheel and 1300 total time. About 190 hours in the Sonex. I do WINGS training also.

$915 of this is for Hull coverage of $35,000. The liability is about $150.

[lpaaruule]

This is what the email said:

-------------------------------------------------
Global Aerospace would like to inform you of the following:
The conditions in the aviation insurance market continue to evolve as the industry works to quantify the impact of the claims being presented. As a result, the above-reference policy may be subject to a premium increase with respect to the upcoming renewal.
-------------------------------------------------

INSURANCE TYPES, LIMITS AND PREMIUM
Coverage Annual Premium
Liability Insurance
Each Occurrence $1,000,000 $219
Each Passenger Subject to $100,000
Physical Damage: F. All Risks Basis (Ground and Flight)
2017 SONEX LTD SONEX (TD) LSA N454EE $1,336
Insured Value: $40,000
Deductible: In motion $Nil / Not in motion $Nil

[builderflyer]

I just got the quote for my Sonex through Global

$915 of this is for Hull coverage of $35,000. The liability is about $150.

Robbie, compared to many others (and myself) your rates seem rediculously low. Two factors that may be in play here are (1) the state that you live in, and (2) that you have both hull and liability coverage together. I live in the sue happy state of California and have seen other's quotes for liability coverage in other states be significantly lower than mine, even though I was a more qualified pilot. Additionally, when I have asked about liability only coverage vs liability and hull coverage, the quote I received for liability only coverage was much higher, double as I recall, as when combined with hull. But doubling your liability coverage amount of $150, you're still only up to $300. I bailed out of Global coverage when the rate jumped to $450 as , for me, there were better options.

In any event, I just cringe every time another Sonex product appears in a Kathryn's report as there is just one more reason for our rates to increase. If I ever go back to a standard category aircraft, it'll probably be because of insurance considerations, either the obtainability or the cost thereof that drove me there.

Art,,,,,,,,,,,,,,,,,,,,Sonex taildragger #95,,,,,,,,,,,,,,,,,Jabiru 3300 #261

[DCASonex]

Cautionary note to those who think their homeowners or Umbrella liability policies with cover and aviation event, check your policy carefully. Mine specifically excludes anything to do with an airplane, and the homeowners policy will not even cover loss of tools and equipment that I have at home used to build the plane (as if they could tell which was what.)

David A.

[kmacht]

When I was looking for liability only I went through First Flight Insurance Group. They have a deal with the US Ultralight association where they will provide a 1 million dollar liability insurance on LSA aircraft (including EX-AB) for about $500 a year.

http://www.firstflightinsurance.com/Sit ... sports.asp

For those also thinking about Life and AD&D insurance policies make sure you read the details of your policies carefully. Most of the ones I looked at before doing my first flight would not cover an accident in a privately owned airplane and/or had limitations on the the type of airplane that would have made the policy void for an experimental. The only coverage I could find was actually through a policy that my employer offered. It didn't have those same limitations but I work for a major jet engine manufacturer who will pay for a portion of flight training under certain conditions and that may be part of the reason why. Better to read the policy now instead of those you may leave behind finding out they don't have the financial safety net they were counting on without you there.

Keith
#554

[daleandee]

I have recommended to a number of people (offline) to contact AIR for a quote:

Victoria Neuville
Agent, Commercial Pilot, CFI
Aviation Insurance Resources (AIR)
P.O. BOX 32 | Frederick, MD 21705
Ph 301-682-6200 | Fax 301-682-9793
vneuville@air-pros.com | http://www.air-pros.com

Insurance on my plane is less than a grand a year (includes $25,000 hull) and the increase this year was less than $20.00 (if I recall correctly).

I know that tail wheel makes a difference but I don't know about engine choice ...

[WaiexN143NM]

Hi all,
Good article on www.kathrynsreport.com today, about aircraft insurance. state of utah passed a law require aircraft insurance. Be aware of your airport, private, city, county, state may have requirements for insurance. Not having any, or not the minimum, could really leave you exposed if somebody got hurt, property damage etc. not having any......or underinsured.....well thats rolling the dice........


WaiexN143NM
Michael