REFLECTOR: Insurance

[Mark Magee]

Geoff,
That is the first work around, just buy liability. You're not that tough of a case, the no or low (<100hours) are the 'vicious cycle' pilots (no experience, can't get insured to get the experience).
Hey gang. If we bust up our birds, Geoff will fix 'em....
:)

Mark B. Magee
Sent from IPhone 4S


On Aug 15, 2013, at 10:10 AM, Geoff Gerhardt <geoff.gerhardt at gmail.com> wrote:

> 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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