Insurance suggestions

[NC96277]

I have a '46 BC12D and was wondering about insurance. What type to get as far as flight and ground, ground and taxi, ground only, or liability only. I have heard that some pilots typically choose none at all. I have about $40000.00 invested in my aircraft with the new A-85 engine and all and was looking for advise. I could not find any previous threads on this or maybe I'm not looking in the right places. Thanks for any help!

[Mark Julicher]

Re: Insurance suggestions

There are several of good insurance plans that various tribesmen use. You might try a search on the topic to get several good ideas.

That said, Give Falcon Insurance of Kerrville, Texas a call. They are an independent agency and they understand airplanes. I only carry liability, so I don't know how they will do with hull insurance, but they are competitive.

[paulnuss]

Re: Insurance suggestions

Insurance is a way to spread risks among participants in a pool of money, to be able to pay for something that one can't afford himself. Liability, for example: If you and your airplane should somehow injure someone, or do serious property damage to something else (such as a very expensive airplane parked on your ramp, along your taxiway or runway, etc.) it could be financially devastating, unless you can actually afford to pay for those damages. Therefore, liability insurance might be deemed necessary if you can't afford to repair or replace that bizjet on the ramp you ran into, or get sued by an injured person.

Hull insurance on your aircraft in motion: It would be a blow if you damaged or destroyed your Taylorcraft, but it probably wouldn't be an event that would totally change your life, assuming you weren't seriously injured or killed. In-motion hull insurance is usually the most expensive part of an insurance consideration. I don't carry any myself. I've owned my Taylorcraft for 33 years, and I would have bought it a couple of times over if I had been purchasing in-motion hull insurance. I try to always fly with the thoughts that if I break it, I bought it. Keeps me paying attention!

Hull insurance not-in-motion is usually far more reasonably priced, especially if you hangar your airplane in a secure place, and is usually available along with a liability protection policy. Weighing cost versus possible benefit, it would seem reasonable to me to buy hull insurance, not-in-motion, to cover hangar collapse, fires, vandalism, etc. The formula changes substantially if not securely hangared, and that is because there is a much higher probability the insurance company might have to shell out for wind or storm damage, damage from another aircraft or vehicle, vandalism, etc. if you are tied outside. Therefore the premiums will be substantially higher. Another good reason to hangar your pride and joy!

My humble opinios only...

[Craig]

Re: Insurance suggestions

I did research and got quotes from several insurance company's last year when I bought my T Craft.

As a fairly low time tailwheel pilot I seemed to be given the best quote for liability and hull insurance from AVEMCO.



Good Luck

Craig

[astjp2]

Re: Insurance suggestions

I quit insuring because it was just too expensive and besides its not a car, I can't lose my liscense for flying without it. Tim

[rammon3]

Re: Insurance suggestions

You might not lose your license, but the potential lawsuit could make life a living hell. Not worth the risk IMHO. Paul is on target with his assesment.

[KewFlyer]

Re: Insurance suggestions

Try:

Joyce & Rob 1-800-727-3823

They talk Taylorcraft.

Hope it works

Ralph

[Acroeric]

Re: Insurance suggestions

I go through a local fellow here on my home airport. His name is Joe Nicks (336-260-3845). I am not sure what the name of his company is but he has consistently been way cheaper than any of the others I have gotten quotes from. He uses the same few providers everyone else uses. In addition- he's a nice guy, used to own a Tcraft and will work with you on spreading it out over a few months if needed.

I too have considered dropping insurance all together- My policy with Joe was just too cheap to pass up. . . . . seems like it was $700 for 45k hull, $250 deductible, and 2 mil. liability/ full coverage.

Tell him I sent you if you call.

Eric

[Forrest Barber]

Re: Insurance suggestions

We have mentioned this many times.... go to
http://www.aircraftinsurance.net/ Dick Packer is a real Aviation person ; many awards at Air Venture ; Pam Roush will answer and is the BEST.... Check out the real grassroots atmosphere. Just north of Columbus Oh and has always done well for us.

[astjp2]

Re: Insurance suggestions

You are a fool to think that if you have insurance that you won't get sued, I am already in a lawsuit for an aircraft crash and the owner had insurance and the pilot/plaintiff turned away the insurance company and sued 5 people, including myself for changing pushrod tube seals and signing off the log book. I dont have mechanics insurance and I am not getting a lawyer till it actually goes to court. I am making the plaintiff's lawyer life hell, Thank god for that aviation law class I took in college.

You ought to read the NTSB report, and the plaintiff is saying that I am responsible for the owner using autogas without an stc!

http://www.ntsb.gov/ntsb/brief2.asp?ev_id=20090528X21628&ntsbno=WPR09LA268&akey=1

[jim cooper]

Re: Insurance suggestions

About 10 years ago? Insurance agent...large company, independent, small town in Maryland. He was President-OWNER of company. Flying his Twin Commanche ,two other passengers. Aircraft Had been recently annualed by a pal who he knew well. Middle of winter, water in gas line at 4000 feet, light snow, both engines quit. Made it to seemingly nice field. Landed gear up, slid into ditch whereupon aircraft was severely damaged. Person in back seat came forward (seat belt not buckled) and used owner-pilot for airbag. Pilot broken up quite badly. Both passengers sued. A&P was brought into investigation, (song without end.) Owner was laid up for months and eventually gave up his ticket. (He had owned SEVERAL twins and had thousands of accident free hours. Very good pilot. Never heard the final verdict but it was a long drawn out procedure! When the lawyers get to people, anything can happen and usually does. Just imagine if he had not had insurance! While the T-Craft is a much simpler aircraft, BAD things can still happen. Its not worth the risk not to have ADEQUATE insurance. Unless..(possibly) your divorced, live in the airplane, have no job and own nothing. JC

[jim cooper]

Re: Insurance suggestions

or try this one....Approx. 10 yrs. ago, small Maryland airport. Owner of Twin, Beech Duke, takes relation along in Super Cub to pick up Duke which is at another field. Upon return, (owner flying the Duke) lands uneventfully, taxis to hangar apron, shuts down. Along comes relation, or inlaw, or whatever, in Super Cub, lands, loses it, runs off runway, slams into Duke, collapsing its GEAR. Both aircraft badly damaged. Both insured. Also.... Duke was parked NEXT to a large above ground 100AV GAS tank. Its a miracle it didn't blow up. How'd you like to crawl out of the Super Cub and proclaim "I don't have insurance as its too expensive!? JC

[Ray36048]

Re: Insurance suggestions

I have heard that it is a good idea to carry a baseball bat to be sure the passengers can not sue you.

[Larry Lyons]

Re: Insurance suggestions

I have heard that it is a good idea to carry a baseball bat to be sure the passengers can not sue you.

Laughing as I write this. I'm sorry, not PC at all, but that is the best suggestion on here in a long time!!!!!!!!

L

PS: Particularly appropriate if you are giving a ride to an attorney.

[Jim Lauden]

Re: Insurance suggestions

Laughing as I write this. I'm sorry, not PC at all, but that is the best suggestion on here in a long time!!!!!!!!

L

PS: Particularly appropriate if you are giving a ride to an attorney.

IF YOU VISIT THE WEBB SITE LANDINGS THERE ARE TALES OF ATTORNEYS IN ACTION DOIN WHAT THEY DO BEST, AND MAKEING LIFE MISERABLE FOR AIRCRAFT PEOPLE ALL THE TIME. LOOK UP THE RECORD OF ATTORNEY> AUTHOR ALAN WAULK (SPELLING?) COST AVIATION CONSUMERS MUCH BUCKS $$$$ THIS AFTER THE NTSB EXONERATED MANUFACTURER! MANUFACTURER STILL PAID? MANY EXTRA $$$ COMES OUT OF ALL OUR WALLETS AFTER THE ATTORNEY GETS DONE WITH THE JURY. GOING TO BE LIKE TRYING TO FLY WITH A CEMENT TCRAFT! NOBODY EVER SAID IT WAS GOING TO BE EASY. JIM L