Insurance Grumblings

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!

Moderators: drseti, Bob Mackey

Jim Stewart
Posts: 480
Joined: Thu Oct 12, 2006 6:49 pm

Re: Insurance Grumblings

Postby Jim Stewart » Thu Jul 25, 2013 10:13 pm

Anyone not happy with their current insurance might want to contact Bill Tassio for a quote. He's a broker and he usually gives me quotes from three companies when renewal time comes up. He's helped me out while I was a long-time student and I've had nothing but good interactions with him and his staff.

William A. Tassio Insurance Services
949-756-0732
949-756-2110 FAX
PP-ASEL, Flight Design CTSW owner.

Jack Tyler
Posts: 1380
Joined: Tue Nov 30, 2010 5:49 pm
Location: Jacksonville, FL

Re: Insurance Grumblings

Postby Jack Tyler » Fri Jul 26, 2013 4:50 am

"My agent explained that a deductible of $5000 only saved about $20-30."

Jim, don't overlook the fact that raising the deductible amount is only one way to 'self-insure'. I suspect that lowering the hull value will have a greater impact.

How a premium is developed by a carrier remains a big mystery to me. E.g. my hull value (on a Part 23 a/c) is just about 25% less than yours, Jim. My premium however is half yours. Does that reflect an 'LSA penalty' of some kind? Haven't a clue. And then there's whether the a/c is tied down outside or hangared, all the pilot quals/experience and how they line up with a given carrier's tables, location and its seasonal threats, and on the list goes...
Jack
Flying in/out KBZN, Bozeman MT in a Grumman Tiger
Do you fly for recreational purposes? Please visit http://www.theraf.org

User avatar
deltafox
Posts: 306
Joined: Tue Apr 06, 2010 2:21 pm

Re: Insurance Grumblings

Postby deltafox » Fri Jul 26, 2013 7:56 am

I've been using Starr Aviation since owning my LSA and have bee pleased with the rate. However I'm preparing to make the leap into instructing and have been shell shocked at what it costs to rent my plane to solo a student. I've had two brokers searching for underwriters and finally got a quote under $7K.

I'll plan to do "dual only" for awhile. Finalizing the quote on that now.
Dave

User avatar
gmohr
Posts: 91
Joined: Fri Jul 14, 2006 11:18 am
Location: Trenton, SC
Contact:

Re: Insurance Grumblings

Postby gmohr » Fri Jul 26, 2013 11:58 am

I have insurance through Falcon too. Britt Paulk or should I say WAS with them as they are exiting the
aviation insurance business according the letter I received. In turn Falcon quoted me from another agency
a quote of $2005.00/year. That is a $500 increase. I flew 88hrs last year and no claims. Aircraft hull @
$75K, $1000 deductible and standard everything else. I have a week to either renew or find a new carrier.
Gene Mohr
Sport Pilot Upgrading to Private
180hrs and counting

User avatar
MrMorden
Posts: 1962
Joined: Fri Aug 17, 2012 7:28 am
Location: Athens, GA

Re: Insurance Grumblings

Postby MrMorden » Fri Jul 26, 2013 12:29 pm

I'm pretty happy all things considered. Just got my first policy on a 2007 CTSW with $75k hull, for $1414. I consider that very good since I only have 50 hours total and 5 in type.
Andy Walker
Athens, GA
Sport Pilot ASEL, LSRI
2007 Flight Design CTSW E-LSA

User avatar
gmohr
Posts: 91
Joined: Fri Jul 14, 2006 11:18 am
Location: Trenton, SC
Contact:

Re: Insurance Grumblings

Postby gmohr » Fri Jul 26, 2013 12:52 pm

Andy,

Who is your insurance underwriter?
Gene Mohr
Sport Pilot Upgrading to Private
180hrs and counting

User avatar
MrMorden
Posts: 1962
Joined: Fri Aug 17, 2012 7:28 am
Location: Athens, GA

Re: Insurance Grumblings

Postby MrMorden » Fri Jul 26, 2013 1:55 pm

gmohr wrote:Andy,

Who is your insurance underwriter?


USAIG. I used Chris Wolbert at Aviation Insurance Resources ( www.air-pros.com ) to shop price for me, and could not be happier with their service.
Andy Walker
Athens, GA
Sport Pilot ASEL, LSRI
2007 Flight Design CTSW E-LSA

User avatar
FastEddieB
Posts: 2465
Joined: Wed Jan 07, 2009 9:33 pm
Location: Mineral Bluff, GA

Re: Insurance Grumblings

Postby FastEddieB » Thu Sep 12, 2013 12:01 pm

FastEddieB wrote:Carl,

First I've heard that.

I'm with Falcon and have not gotten the letter.

Will report if and when I do.


Just got my renewal quote: $949, unchanged, for $50k hull.

I noticed I also have zero deductible, which is not like me. I may have asked before to find out there was barely any savings. I'll ask again to see what the deal is.
Fast Eddie B.
Sky Arrow 600 E-LSA • N467SA
CFI, CFII, CFIME
FastEddieB@mac.com

FlyingForFun
Posts: 509
Joined: Tue Jul 09, 2013 8:41 pm

Re: Insurance Grumblings

Postby FlyingForFun » Thu Sep 12, 2013 12:04 pm

Delete
Last edited by FlyingForFun on Tue Sep 17, 2013 1:29 am, edited 1 time in total.

User avatar
deltafox
Posts: 306
Joined: Tue Apr 06, 2010 2:21 pm

Re: Insurance Grumblings

Postby deltafox » Thu Sep 12, 2013 1:59 pm

Just got this email:

Dear David,

You will be receiving a Notice of Non-Renewal of Insurance from Starr Aviation that advises one of their insurance carriers has stopped writing aviation insurance in your state. This is a notice that is a statutory requirement in your state when the underwriter is changing insurance company/carrier.

Not to worry as always, SkySmith will be quoting the entire market and will find the best terms and insurance companies to meet your needs.



Best Regards,
Dave

User avatar
FastEddieB
Posts: 2465
Joined: Wed Jan 07, 2009 9:33 pm
Location: Mineral Bluff, GA

Re: Insurance Grumblings

Postby FastEddieB » Thu Sep 12, 2013 2:17 pm

Just got off the phone with Falcon.

The company that gave the quote does not quote for deductibles.

They said I could get $200/$250 deductible, but that the premium would be the same (!). Even the lady telling me that said it made no sense, but that's what it is in this market.

All this has a feeling of deja vu - I think I've asked about the no deductible before but had just forgotten.
Last edited by FastEddieB on Thu Sep 12, 2013 2:25 pm, edited 1 time in total.
Fast Eddie B.
Sky Arrow 600 E-LSA • N467SA
CFI, CFII, CFIME
FastEddieB@mac.com

FlyingForFun
Posts: 509
Joined: Tue Jul 09, 2013 8:41 pm

Re: Insurance Grumblings

Postby FlyingForFun » Thu Sep 12, 2013 2:21 pm

Delete
Last edited by FlyingForFun on Tue Sep 17, 2013 1:30 am, edited 2 times in total.

User avatar
dstclair
Posts: 1029
Joined: Thu Mar 06, 2008 11:23 am
Location: Allen, TX

Re: Insurance Grumblings

Postby dstclair » Thu Sep 12, 2013 3:12 pm

My experience as well with 2 different underwriters -- deductible makes no difference in the quote.
dave

User avatar
drseti
Posts: 5804
Joined: Sat Nov 28, 2009 6:42 pm
Location: Lock Haven PA
Contact:

Re: Insurance Grumblings

Postby drseti » Mon Oct 21, 2013 6:34 pm

I just got the Notice of Non Renewal letter that others have been talking about. It came not from Falcon (my agent), but rather from Starr (the underwriter). It was accompanied by a cover letter saying, essentially, "nothing to worry about, this is a legally required formality and nothing will change", plus a page of FAQs, plus a color brochure touting Starr. Looks as though they're reorganizing, and my policy will now be issued by a different corporate entity, Starr Indemnity and Liability Company, instead of Starr Aviation. I'll post in January if the rates and coverages actually change.
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
Prof H Paul Shuch
PhD CFII DPE LSRM-A/GL/WS/PPC iRMT
AvSport LLC, KLHV
fly@AvSport.org
AvSport.org
facebook.com/SportFlying
SportPilotExaminer.US

User avatar
dstclair
Posts: 1029
Joined: Thu Mar 06, 2008 11:23 am
Location: Allen, TX

Re: Insurance Grumblings

Postby dstclair » Thu Oct 31, 2013 4:34 pm

FYI -- just renewed with AIG for $1320/year - no deductible, $95K hull.
dave


Return to “Ask The Insurance Agent”

Who is online

Users browsing this forum: No registered users and 1 guest