REFLECTOR: Insurance

Thu Aug 15 17:24:43 CDT 2013

The liability portion for Misty and me was 600.00. Factory checkout for both required. 
In flight & Not in Flight. 

Kurt 

-----Original Message-----
From: John Tvedte <johnt at comp-sol.com>
To: jeff findarle <flynfindarle at yahoo.com>; Velocity Aircraft Owners and Builders list <reflector at tvbf.org>
Sent: Thu, Aug 15, 2013 4:18 pm
Subject: Re: REFLECTOR: Insurance

Jeff

Have you completed the factory checkout?

-------- Original message --------
From: jeff findarle <flynfindarle at yahoo.com> 
Date: 08/15/2013 5:44 PM (GMT-05:00) 
To: geoff.gerhardt at gmail.com,Velocity Aircraft Owners and Builders list <reflector at tvbf.org>
Subject: Re: REFLECTOR: Insurance 

Geoff are they giving you liability insurance while in flight to cover any passengers or just who you hit? Avemco quoted me $1260/yr for liability only and no Inflight coverage for liability. NO HULL INSURANCE.

TEAM JEFF,
Jeff Findarle, GRI & Darin Heckel
Realtor                     Realtor

AllStar Realty
575 N main St.
Heber City, UT. 84032

Jeff's Cell 435-503-0514
Darin's Cell 435-671-3957
Off. 435-654-9440
Fax 435-654-9437

Distressed Property Experts, Short Sales a Specialty!
Don't Lose it, Sell it!

From: Geoff Gerhardt <geoff.gerhardt at gmail.com>
To: Velocity Aircraft Owners and Builders list <reflector at tvbf.org>
Sent: Thursday, August 15, 2013 9:10 AM
Subject: Re: REFLECTOR: Insurance

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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