Bob, as a newcomber to the LSA movement (but a former aircraft owner), I'm hoping you can calibrate me on a couple of basic issues re: coverage and premiums:
1. How are insurance companies that cover LSA aircraft differentiating between the aircraft brands, if at all? IOW the hull value & the pilot's experience aside, are the premiums essentially the same for all LSA's with similar performance stats or weights or other generic categories? Or are insurance companies now adjusting premiums in favor of some brands over others (e.g. perhaps based on safety records, or on factory 'rep', or on being foreign vs. domestically built products, and/or along other lines? Are e.g. a RANS S-19 (domestic, Rotax powered, newer design S-LSA) and a Jabiru 230 (foreign, Jabiru 3300 powered, more mature design S-LSA) considered essentially the same by the insurer?
2. All other factors being equal (which of course we know is never quite the case...), can you provide a general description of how the insurer views two aircraft of the same value, capability (so let's say: VFR day/night operation), based at the same airport, both in hangars and so forth, given that one of them is an S-LSA aircraft and the other a FAR Part 23 aircraft? (I realize this is an imperfect Q since, for the hull values to be the same, their ages will likely be very different...but hopefully, you can still comment on how insurers view one aircraft type vs. the other).
Thanks for being here and offering to clear up insurance-related Qs for us.
Bob Mackey, Vice President of Falcon Insurance Agency (the official insurance agency for the EAA's Aircraft Insurance Plan), has graciously agreed to moderate this forum and answer your aircraft insurance questions. Thanks Bob!
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