REFLECTOR: Insurance

[Geoff Gerhardt]

Just as another data point, Avemco just renewed coverage for my 173RG.  I'm
a low-time pilot (~220hrs, 120 in RG/Velo).  Liability only, ~$850/yr.  I
think getting hull coverage is the tough part - I've never been interested
in that, tho.  If it breaks, I'll fix it.  If its so broke I can't fix it,
I probably won't be around to worry about it.  I'm in a position that the
loss of the capital wouldn't bother me too much, so liability is my only
real concern.

Geoff

On Thu, Aug 15, 2013 at 10:36 AM, Mark Magee <edjonesbrady at gmail.com> wrote:

> 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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