REFLECTOR: Insurance - OUCH!

Velocity_AZ velocity_az at cox.net
Mon May 15 15:35:30 CDT 2006


Hey guys - 
 
I just got my insurance renewal and it's painful - 
 
I've got 500+ total hours, 230 hrs in type & an instrument rating. I have a
173 Fixed Gear and I am the only one listed as the pilot.
 
Was paying $5000/year for $175,000 hull insurance, $1M liability, $100K per
passenger - $0 DEDUCTIBLES (Global Aerospace is the underwriter through
Falcon Insurance).
I've always felt the the $0 deductible is extremely important if you want
hull insurance.  Should more than $17,500 worth of damage occur to my Velo,
chances are that I wouldn't have to worry about what I'd be collecting
beyond that (since you can't take it with you!).
 
Renewal - $5650/year (same coverage as above) or
Renewal - $5123/year - $17,500 deductible
 
I also learned that AIG will only insure a Velocity with up to $100,000 for
hull insurance.
I also learned that my current underwriter, Global Aerospace (supposedly the
best coverage available), is not that interested in Velocitys anymore and,
if insurance was possible, a min. of 750 hours would be required.
 
What have you guys been finding?
 
Kevin
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