Insurance

[jcthomas]

Well, I just got my new insurance rate. I own three aircraft and two of them are retractable. The new game in town for the companies is a high deductable. My agent told me, and I have no reason not to believe them, that all retracts will have a 10,000.00 deductable.

I just wish there was a way to deal with these companies that believe we have to carry the money load for all other losses. I haven't seen many companies go under.

thought I might pass this on to the rest of you

John

[Mark Hislop]

John: The exact same thing just happened to me. My rates only went up $5 (unbelievable, ain't it?). My Not in Motion deductable stayed the same at $100, my In Motion deductable stayed the same at $2500. They added a $10,000 deductable for anything to do with the landing gear. My broker also told me that "all of the companies are doing it". Sounds like price fixing, doesn't it?

Mark

[Keven]

Well it didn't happen to me (I just reupped last month), but I had breakfast today with another skymaster owner who said that he just had it happen to him last month. There was a $10,000 deductible for any "incident" related to a gear up landing OR anything else relating to collapsing gear.

He was able to switch companies to avoid it, but his annual premium went up $500 by switching companies. I guess there are still a couple of companies out there not requiring it yet, but it will probably just be a matter of time.

Keven
________
Ship Sale (http://ship-sale.com/)

[Keven]

Next year, the insurance companies will probably allow certain "discounts" if you agree to a $100,000 deductible for any incident related to pilot negligence or plane defect;)

Keven
________
VAPORIZER (http://johan-luis.tumblr.com/)

[Bob Cook]

Better yet Keven

The insurance companies will insure the aircraft and NOT the pilot. The deductible then is 100 dollars and less premiums. <G>.

There are "friendly" skies.

bob

[Ernie Martin]

Did anyone get insurance without an instrument ticket? Keven seems to have insurance and I was under the impression (perhaps mistaken) that he didn't have instrument. I haven't been able -- ever -- to get insurance unless I get instrument rated.

Ernie

[Keven]

Ernie,

I had insurance both before and after I got my instrument ticket. Call me, and I'll give you the name and number of the guy who can get you insurance for decent rates regardless of what ticket you currently hold.

That goes for anyone else who is interested also!!! And no . . . I don't get any commission from this:) He's just been a great guy to deal with.

I'm at home now, so I don't have the number here, but please feel free to call me at my office on Monday.

Keven

(864) 242-4899
________
Avandia Withdraw (http://www.classactionsettlements.org/lawsuit/avandia/)

[jcthomas]

Ernie!

I am just getting ready to take my IFR check ride. I have had insurance from the time I bought my T337. I do not think you have to have the IFR ticket. You might pay a little more for not having the IFR ticket.

Kevin I think I might give you a call tomorrow about your guy.


John

[WebMaster]

Ernie,
Call Scott Smith. He has a skymaster, owns an insurance company, and does not have his IFR ticket.

[SkyKing]

Ahhh... "insurance".

Ballentines Law Dictionary defines it as: "A contract whereby one undertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event."

Hmmm. Now they're identifying a specfic circumstance, a known contingent event, in which you 'might' have a claim, such as upping the deductible to $10,000 CLAMS for any kind of a gear incident? Time to dump the insurance man folks. Time to visually inspect your gear and all components and assure that IT is within proper specifications per the Cessna Service Manual. You should also be doing this during the pre-flight. How many of you actually dump the gear doors down and physically inspect the undercarriage and its components, looking for tell-tale signs? Do you know what to 'listen' for when you hit the master switch in relation to the gear system? And were you aware that you can manually pump the gears back up to their closed position by having the power pack circuit breaker pulled and the master on? A good way to know if the manual pump is pressurizing the system properly.

Seriously folks, how many of you have actually "READ" your insurance policy, incluing ALL of the legalese fine print? You'd be surprised what you really bought... to some, it might well be considered the enduring 'pig-in-a-poke' for the amont of money you're forking over.

I've said it before... unless you're financing the plane and it's the collateral for the loan, DUMP the insurance man and invest the money in learning about your machine, including acquiring the Service and Parts manuals and purchasing any needed spares and special tools you'll need to maintain the plane. Invest some of the funds in stopping a would-be thief by the ability to properly secure the plane when it's not in use. Stop helping build black skyscrapers and making the insurance man's Mercedez monthly payment. Act responsible, and be responsible... from proper maintenance through the planning and preflight, the takeoff, the climb, the enroute segment, the letdown, approach, landing and finally securing the plane.

Ever hear of self insurance? That's where YOU are THE SOLE responsible party for all actions of the plane and its pilot-in-command, which most of the time is YOU. Stop putting the onus on someone else to bail out your actions or lack thereof. You'd be surprised how much of a safer pilot you'll become if it's YOU that the plane's safety and its flight ends with... better known as 'the buck stops with me.' As pilot in command, you are in reality, the final authority whether it flies or stays on the ground.

Of course, self-responsibility and discipline are commodities hard to come by in this age of throw aways and the 'let George do it' attitude... but being there aren't that many 337's around... then if you own one, you'll be rewarded over and over again by making sure that you and your plane are airworthy and capable of the mission at hand... without any doubt whatsoever that you cannot complete the mission as planned. Isn't this the true mark of the professional aviator?

Remember the general procedures required under FAR 61.43 at subpart (2) for the practical tests? "...the applicants ability to safely... Demonstrate MASTERY of the aircraft with the successful outcome of each task performed never seriously in doubt"?

The True Grit of responsible flying begins and ends with YOU. No insurance salesman or his policy of fine print can ever change that fact. Are you willing to take the risk for your actions? If not, then maybe you shouldn't own or control any property. It's easy to pass the risk off onto someone else. But it's quite another thing to assume the risk yourself. In the latter case, you must know your limitations... as well as those of your airplane.

SkyKing

[WebMaster]

Yeah, but SkyKing, Ernie was self insured on his first skymaster. I think that's why he wants insurance on his second skymaster.

[jcthomas]

Not a bad idea! But I think I will take what I can get with the insurance. You never know when something can go bad even with good preventive maintanance.

John

[skymaster]

Howdy: Its ground coverage that concerns me. Once a tropical storm destroyed my hanger 15 minutes after i moved the aircraft. The hanger wall clock marked the time. Storms/ tornadoes/hail/ hurricanes. However, thus far 29 years without claim. My tornado ticket is probably the next weather event. if someone offered full ground coverage and inflight liability only maybe insurance would cost less? James Henderson

[Keven]

Fella's name is Don Peters in Dothan, Alabama and phone number is 800-844-7105. I believe he can get just about anybody insured for Skymasters!!!

Quite helpful and knowledgable about Skymasters.

BTW, the first year I insured, I did only have ground coverage and in flight liability. It was about $2000 cheaper. But it was also before I was flying solid IMC.

Keven
________
MARIJUANA (http://www.youtube.com/dispensaries)

[Bob Cook]

With Avemco; they wanted an instrument ticket if flying a "P". Also they wanted 800 hrs multi for the best rates. Rewewed 03/02 with no changes and premiums up 8%.

fyi

bob

[skymaster]

Once I had some carnival rides. the insurance was priced upon how much control the participant had in the outcome of the event. all legal woes came from events outside my control. Rides we controlled had zero problems. Needless to say this experience made me belive that sterilization may stop the genetic time bomb. Some sort of Identofication would protect the national interest. My Grandfather use to say some folks are born with bad judgement. They come without indentification. My point is the insurance companies have to weed the risk . My Pand C coverage doubled. Next year I will start dropping coverage. Maybe the market will straighten up. My aircraft ins requires recurrent . This just means they raised my cost again. next year i will request ground coverage and inflight liability. James Henderson