REFLECTOR: Insurance

[Mark Magee]

I believe what is happening is the carriers are a) shying away from Experimentals b) especially retracts c) especially low time pilots and d) let's not even talk about a low-time pilot in a retractable experimental.....
I called my pilot friend who owns a large insurance agency who worked for many years with Avemco in FL, he said the carriers (there are only about 7 or 8 companies who write ins on GA aircraft) just flat won't take the risk until a pilot has some significant time in his or her log book. And that repairs to Experimentals can easily cost twice as much as a certificated aircraft: repairing a Chevy from a accident vs a DeLorean, where parts have to be custom made.
If you have shopped insurance with an independent agent, you have likely already been reviewed by all the carriers. Notice Vans and Cirrus don't offer retractable gear. That was a tactical move to get more low-time folks with money qualified to own their offerings.
I believe this is a serious challenge, and that a creative work-around is needed: such as a high deductible policy or other solution. Otherwise this issue could seriously hamper the low-timer starting out in a V, retract or not.
EAA and the Factory may need to try and cut some deals toward a high deductible policy availability.

Mark B. Magee
N34XL XLFG
Sent from my iPad


On Aug 15, 2013, at 8:59 AM, "David Ullman" <ullman at robustdecisions.com> wrote:

> Received a terse note in the mail yesterday titled "Notice of Nonrenewal of
> Insurance".  I have my SEFG insurance with Britt/Paulk (through EAA) and it
> appears that " The reason for nonrenewal is carrier exiting program".  I
> assume that means the B/P is getting out of insuring airplanes, Velocitiies
> or????
> 
> I have fixed gear and 100 hours, so we will see what EAA tells me.  I have
> until Oct 1st to find new insurance.  I will try some of the other agents
> suggested here.
> 
> 
> David Ullman
> N444DX
> President EAA 292
> 541-760-2338
> david at davidullman.com
> 
> 
> 
> 
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