Shopping for Insurance

[jim cooper]

Re: Shopping for Insurance

BC12D: I pay Avemco 1,250.00 per year. Hull cov. 25,000.00 Liabilty: 1mill/100,000. THEN they deduct 4 months of only hangar rent,(it drops down to around 400.00 during this time. (The aircraft cannot be flown during the down time.) I have 2900 hrs. in taildraggers, I'm 72 flying LSA. In the spring, I call them and they immed. (half an hour) put it back on flying status. This BC12D was totally rebuilt in 2008 and is in trophy condition and has full logs from factory to present. Its a 65HP, no electric , METAL prop. 72/45.

[jdlowrey]

Re: Shopping for Insurance

I'm just on wheels and skis. Policy is broken down as follows: Liability and Property (100,000/1,000,000) $1,113 and Hull Coverage is $1632. I was told that my next price break would be at 250 hours. I currently have 160 give or take.

[MNJoe]

Re: Shopping for Insurance

Jeff, are you on floats part of the year? That coverage is close to the lower 48 when you combine float and wheel insurance.

Joe

[jdlowrey]

Re: Shopping for Insurance

Just received my Avemco renewal, $2800 for $25,000 hull plus liability and ground coverage. Guess things are double in AK.

[NY86]

Re: Shopping for Insurance

Did you get your bonus too??:clue?::

Yeah, and it still hurts...

[jim cooper]

Re: Shopping for Insurance

consider this: 3 months ago, heavy snows, then rain, then snow again, collapsed the roof of a pretty sturdy hangar where I'm based in Western N.y State. 3 Aircraft were destroyed. Owner of the airport ALWAYS made sure YOU KNEW that insurance was YOUR responsibility. A rebuilt lucscombe was totaled. The owner is suing the FBO. He won't recover a penny as EVERY other owner will testify. Many owners there do NOT have hull and very little liability. Not very bright, sort of like putting your money with Bernie Madoff, then whineing when he went bad. I have used AVEMCO for 25 years and am satisfied.

[flyguy]

Re: Shopping for Insurance

Been meaning to speak to them about that.
DC

[Rick Hadley]

Re: Shopping for Insurance

I'm with AIG. I figure I should get good service, being as I'm a part-owner....

Did you get your bonus too??:clue?::

[NY86]

Re: Shopping for Insurance

I'm with AIG. I figure I should get good service, being as I'm a part-owner...

Oh, yeah, they're the only ones that'll write a policy on my 1300' strip, too. Maybe there's a message in there...

[flyguy]

Re: Shopping for Insurance

Even though the thought of flying without liability coverage chills my bones, I suspect that on a $300 a year policy, if some really large liability item came up, the company would likely find some way not to pay. Like something wrong with your paperwork on board, or the amount of tire pressure, or not getting approach control's approval for a forced landing in a field, or some other nonsense.

I have heard a few really insane horror stories like that.

Still, the thought of flying without liability coverage in these days of suit craziness...I am at a loss for words.
DC

[MNJoe]

Re: Shopping for Insurance

If I'm not mistaken in Minnesota its against the law not to have insurance. Last time I renewed my registration they required proof of insurance

[Pearson]

Re: Shopping for Insurance

Dear Mr Murphy,

Please go out and get some liability insurance. You may be willing to absorb the loss of your Taylorcraft, but if you land on someone's house or just destroy a farmer's crop, they are going to take you to court to seek compensation. Liability isn't very expensive for the protection you get.

Based on the postings above, it looks like you can get around a million dollars of protection for around $300. Considering the devastation a lawsuit can cause on someone's lifestyle, I think that is very cheap.

[murphy]

Re: Shopping for Insurance

I don't have any insurance and don't fly anybody with me anymore, the price has gotten to high, 90% of the folks I fly with don't have it either. I lost a 108-2 in the trees once and was glade it was insured but that was when insurance was cheep you can now pay for a TCraft in 10-15 years if you just don't crack it up with not paying the insurance companys yearly:tdown:. Mike

[flyguy]

Re: Shopping for Insurance

Looks like $300+ for liability only and close to $900 for 18 to 20 K hull is typical. That is what mine is also. That is for 1M and 100K coverage.
DC

[Mark Julicher]

Re: Shopping for Insurance

I pay $330 for 1 million liability and 100K medical per seat. No hull, which is my personal choice. Experience level of the pilot matters - I have about 800 hours in Tayorcraft and an ATP rating.