REFLECTOR: Obtaining insurance for low-time pilot

nmflyer1 at aol.com nmflyer1 at aol.com
Tue Aug 30 17:54:53 CDT 2011


Geoff, 


I have used Costello Insurance Associates Inc for several years. My Velocity is not yet flying, but I obtained a quote a while back, and it was much less than Falcon Or Pam. There are many folks here at the airpark that have switched over to Costello over the years & been happy. In fact, they even insure our airport. 


Give them a call. The call is the cheap part :) 


Costello Insurance: 1-800-528-6483





-----Original Message-----
From: Geoff Gerhardt <geoff.gerhardt at gmail.com>
To: Velocity Aircraft Owners and Builders list <reflector at tvbf.org>
Sent: Tue, Aug 30, 2011 12:10 pm
Subject: REFLECTOR: Obtaining insurance for low-time pilot


Folks,

You may remember a few months ago I was inquiring what sort of difficulty low-time pilots had getting insurance.  I got a couple suggestions of insurance agents, Pam at AUA and Jim at Falcon.  I've contacted both, and here's what I've been told.  Pam has a company who will offer insurance for pilots with <50hrs retract, and <25 in type, but requires 15hrs dual in type and factory checkout.  It doesn't look like Jim at Falcon can help.  He indicated that the two companies he reps require either 250hrs total time, 50hrs RG plus factory checkout, or 150hrs total time, 25hrs RG, factory checkout.  The latter company only will only offer $500K liability and 10% deductible.

I can probably get 15hrs in type by going down to Velocity for training and putting in a XC or two, so I'd probably be able to qualify for the insurer that Pam reps, but I haven't gotten a firm quote from them, yet.

Has anyone else been in this situation and able to find adequate insurance (I'm only interested in liability and non-flying coverage)?  I'm a low time pilot with minimal RG time (~10hrs to get complex endorsement).  I'm about 6-8 months from flying so I want to get this insurance thing figured out.

Moving to a hangar at ORH this weekend!

Thanks.

Geoff


 
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