Insurance

[Rollie]

I've got my Patrol covered with a builders policy for now. I need to let them know when I am ready to move it to the airport so it will be covered in case something happens during the move. I haven't gotten a quote yet for the phase one or for after yet, but I'm planning to stay with Parrish-O'Neil. They are a broker and always found good prices for my Pacer insurance. I was paying around 950 a year and most people on the short wing forum were paying around 1200-1500 for similar coverage. It never went down because I kept my wife on the policy and she never got above about 50 hours in the thing. I'm planning to insure it for what I have spent on the build but I'm thinking of a high deductible, $5000 if that is a option. I figure that if I damage it less than that I'm not likely to report it to insurance anyway. I built it, I'll fix it. I figure if its more than $5000 damage, its probably a prop strike or something that I can't just fix with time and spare parts I have left over. Hopefully in a couple months I'll be getting quotes and finding out how this thing flies.

If you want to check them out Kimi at Parrish-O'Neil has always been good to me. 740-397-6737

[Flygirl1]

I think since we had someone checking we're locked out for a while? There is one company independent of all that, I think it's Avemco, but last time I checked with them they were way off base for price. But every yr it seems rates change. One will be high and the other low and visa/versa next time. Considering our history of tail wheel time and accidents occurred, I'd insure us for next to nothin, but....

So a couple of months?? Good for you. You must be getting excited. You should be!! It's a real hoot, your gona LOVE it!!!! Get those Gremlins fixed if you have any and see you at OSH??D.

[Mark Goldberg]

It seems that different underwriters have different policies on the 60% repair value issue and then they total it. I have seen some companies use an 80% number to hull value before they will total. Mark

[Flygirl1]

Our Insurance Gal called us and came back with a lower quote. Today we can get it from Aerospace Insurance MGR for $2040, 0 deductible, 100K hull, 100k liability per passenger, 1M liability, $5K per seat medical. This includes anybody with the proper time in T.W. and type. So Dennis is covered in mine and visa versa. I was gong to hold out for some more time, but based on some of my landings the other day maybe waiting is not a smart thing to do. We were discussing a prop strike somebody had that destroyed the engine. We know someone personally who sliced through the wing of a Taylor Craft. Didn't actually hurt the prop or engine, but had it been a very expensive Whirlwind, it would have shattered I'm sure.

[Sebastian]

Did this mean that coverage for each plane is $1020 with that coverage? If so that sounds reasonable to me. I worried since I'm a low time tail wheel pilot (as none right now) what mine would run.

[Flygirl1]

I wish it wasn't but...That quote was for each plane. Not sure the difference in our T.W. time is considered, but in the past her quotes did say mine would be a bit cheaper. But I have a couple of ratings that Dennis does not have and that might mean more. I will ask when I sign up for coverage. I will also ask about having a deductible. She didn't offer and I forgot to ask.

I think it might be a good idea to seek out some T.W. training, for lots of reasons, ;-). Have somebody video you learning to do wheel landings. Better yet, take the video from inside--from your perspective it's always worse than it looks. Also you'll want it for your memoirs. And you might make some bucks on Home Funniest Videos!! Do you have builders insurance?? D.

[Sebastian]

That would be a negative on builders insurance.

[JimParker256]

Just got my renewal quote from my broker for the '65 7ECA. First year was $728 ($25K hull, 1MM/100K Liability) with the requirement that I get 10 hrs dual and the TW endorsement before soloing. The renewal this year (same company, same coverage) will be $548. That's with 1800 hrs TT, 40 hours TW, Commercial ASEL, Commercial/Instrument Helicopter. I'm should be saving up for my first year insurance for the Patrol, I think... LOL

[DemoDollCate]

I'm due for insurance next month. My broker is shopping now.
I was a bit shocked last year when I bought the plane and had to pay 3200. for 100k hull. I'm a current CFI with over 3000TW and I had 200+ Bearhawk hrs when purchased.

If it doesn't drop on this quote maybe I'll plug in a different N number and look at another broker.

[Flygirl1]

We finally have insurance on the planes. Our insurance agency came back with a new quote for the 40 hrs we have of $1896. Only a $3 difference from a quote we had at 18 hours, so I figure it’s the best we are going to be able to do. That’s for each plane at a value of 100K on the hull, $0 deductible in and not in motion. This is coming from a Company called Aerospace. If I crash and bang up my plane as many times as I have in some of my dreams, It'll pay for itself. D.

[DemoDollCate]

I was gong to hold out for some more time, but based on some of my landings the other day maybe waiting is not a smart thing to do.

Luckily bad landings come in fits and spurts.

On another note. I received my latest policy quote for the next year. No hull change (100k) and the premium dropped almost 800 from last year. Down to 2400 ish. I asked about bumping the hull up to a more realistic value of 120k that would add 325.00.

I wonder if I should have asked AOPA and if it's too late to now that my N number already got shopped.

I wonder also about how to get a LOA to instruct in my plane. Maybe a call to Jared or Mark for that topic.