Insurance Grumblings

[Jim Stewart]

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

[Jack Tyler]

"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...

[deltafox]

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.

[gmohr]

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.

[MrMorden]

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.

[gmohr]

Andy,

Who is your insurance underwriter?

[MrMorden]

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.

[FastEddieB]

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.

[FlyingForFun]

Delete

[deltafox]

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,

[FastEddieB]

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.

[FlyingForFun]

Delete

[dstclair]

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

[drseti]

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.

[dstclair]

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