REFLECTOR: NO Velocity Insurance?

Don Johnston numa at comcast.net
Wed Mar 19 18:00:30 CDT 2014


Personally, I couldn't replace my Velocity with $150K. But that was the
highest hull value I could get.

I only mentioned the lower hull value as a data point.



On Wed, Mar 19, 2014 at 5:48 PM, lawrence <ljepstein at hotmail.com> wrote:

> As people have said before, be very careful about using too low a hull
> value.
> If you have an XL with only 100k hull, it doesn't take much to total it
> (engine & prop easily hit $70k @ insurance rates). Remember, they don't
> take into account that you can do the repairs yourself. The appraisal is
> done at shop rates and standard part rates. In that case you would get a
> check for $100,000 and be without an aircraft. Do you really think you
> could replace your XL for $100k?
> Just a thought.
> Larry
>
> On Mar 19, 2014, at 6:10 PM, "Don Johnston" <numa at comcast.net> wrote:
>
> After the discussion about the difficulties in getting insurance, I
> decided to confirm my ability to get coverage. So I called Donnie Peters
> and AirSouth and asked him to verify that I would be able to get
> insurance.
>
> Heard back from him today. He checked with AIG (which is who is providing
> my builders risk policy) and they said I'm all set.
>
> But it ain't gonna be cheap. $150K hull, 1 million liability (smooth,
> IIRC) is going to come in at about $4,000 per year. That's about 3x what
> I'm paying for my 182RG.  He said it will almost certainly go down as I
> build time in type.  If I drop the hull to $100K the premium would drop to
> around $3,000.
>
> He also said that if I didn't already have the builders risk policy with
> AIG that I probably wouldn't be able to get insurance (at least with
> everyone he's check with) for when I'm "in motion".
>
> -Don
>
>
> On Sat, Mar 15, 2014 at 5:04 PM, Don Johnston <don at johnston.org> wrote:
>
>> That's very possible. I've got 1,000+ hours retract.
>>
>>
>> On Saturday, March 15, 2014, Epstein Lawrence Jay <ljepstein at hotmail.com>
>> wrote:
>>
>>> (I tried to post this earlier, but I never saw it).
>>>
>>> I believe that the main issue is with the RG. I don't think it is as
>>> hard to get the FG insured. (I was able to get Full flight, (effective
>>> March 1) $100k hull + liability for my 173 FG which is getting close to
>>> first flight. I have ~550 total time, Private, Instrument, SEL-~350 Hrs
>>> bonanza time).
>>> What some have done is disable the retract mechanism and insure the
>>> aircraft as a FG, then re-apply for RG insurance down the road (after you
>>> have enough (100 hrs?) on the aircraft with you PIC as a FG.
>>>
>>> Just a thought.
>>>
>>> Larry E.
>>>
>>> My insurance is Chartis through (broker):
>>> Packer & Associates
>>> Richard Packer - Aviation Insurance
>>> 5266 Mooney Road, Radnor, OH 43066
>>> 740-494-2554 FAX 740-494-2748
>>> paainc at aircraftinsurance.net
>>>
>>> He's the guy with the beautiful Stearman who is always parked right in
>>> front of the vintage hanger @ OSH
>>>
>>> On Mar 15, 2014, at 3:40 PM, Don Johnston <numa at comcast.net> wrote:
>>>
>>> I've had my builders policy through Don Peters at AirSouth for a few
>>> years.  He has pretty much guaranteed me coverage for when I'm ready to fly.
>>>
>>> On Saturday, March 15, 2014, jeff findarle <flynfindarle at yahoo.com>
>>> wrote:
>>>
>>>> OK Friends, I am just about ready to paint my Velo 173 RG. So last year
>>>> when I thought I was going to be ready to fly her, but instead decided to
>>>> re-paint. I had called a number of insurance companies and had NO LUCK at
>>>> all getting any quotes for hull coverage.
>>>> I did however have a good response from Don Adams with AirSouth (Very
>>>> nice and knowledgeable and works hard and responds quickly). SO I just
>>>> tried again with Don this week. He tried a bunch of companies including:
>>>> Aerospace, Global, Starr, AIG, HCC. Randy Kasen with Aerospace said thatregardless of pilot times, they are not interested in coverage on the
>>>> Velocity.
>>>> Sure would like to know why all these insurance companies are scared to
>>>> DEATH of our little birds?
>>>> I have 402 hrs (27 hrs last 6 Months), 25 hrs Retract time, COMPLEX,
>>>> non Instrument (I want to see what I am going to hit)! Rated single engine
>>>> land.
>>>> Any ideas?
>>>> Thank you, Jeff
>>>>
>>>> TEAM JEFF Real Estate
>>>>
>>>> Jeff Findarle - *Realtor*, GRI
>>>>  PRES.-Wasatch Co Association of Realtors
>>>> Darin Heckel - 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!
>>>>
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