A local pilot with a V tail cancelled his hull insurance about three weeks ago. He was pissed at the company for raising his rate to what he thought was out of line. This guy is 77, ex military, lots of time in all kinds of stuff. Over 52 yrs without an incident.

His age is the reason that the rates were raised. Last week he did a wheels up landing in the V tail. Maybe the insurance company knew somthing he didn't.

If he had cancelled 52 yrs ago he could buy half a dozen planes with what he saved.


Tim

Oops! I hate when that happens.

77 and still flying. That's great. Tough deal on the gear up. I suppose that's why I fly a fixed gear airplane.

The way I look at it, is that Insurance is a big business. Needs to make a profit for share holders, pay the staff, all the company overhead costs. So you have a loss or become a greater risk, up goes the premiums. You fly a higher incident rate plane, ie tailwheel, retract, 2 engines. Up go the rates, to cover the loss and still make the company money.

Let's face the hard truth. Nothing is cheap in aviation. We all spend a good sum of money to fly because of an addiction Wow brain fart. I'm going to check with my health insurance to see if they cover treatment for addictions. Maybe one insurance company can pay the other and I could fly for free.

See ya, Bub

Last year I paid $6200.00 100TT 0 TW

Just got a quote for next year. $3600.00 200TT 100 Maule TW

130K hull

Not bad. Cheers...Rob

RobBurson wrote:Last year I paid $6200.00 100TT 0 TW

Just got a quote for next year. $3600.00 200TT 100 Maule TW

130K hull

Not bad. Cheers...Rob

That's not that bad. I have paid $2500 for $70,000 hull or $28 per thousand. Your paying $36 per thousand. I know it's more complicated than that, but it's how I think of it.
I'm still struggling on whether or not I'm going to renew.

Insurance for my 170 (full meal deal) cost me $923 for $32K hull with 1500 tw and 1800 tt. That's not quite $29 per thousand. Although the "per thousand" part is really only applicable to the hull coverage, not liability. Policy paperwork probably breaks out liablilty/hull costs but too lazy to dig it out right now.

Eric

I have a friend who made two wheels up landings and has never flown a retractable! ( ok some people call them nose overs) still makes the inshurance go up.

ccurrie wrote:I have a friend who made two wheels up landings and has never flown a retractable! ( ok some people call them nose overs) still makes the inshurance go up.

Must be a slow learner? Not too impressive....

a64

You may want to recheck your math. It appears that you are paying over $35 per thousand and Rob will be paying about $28 per thousand. Please do not use this new math on your fuel planning.

flyer

D'oh

130 X 28 = 3600

70 X 40 = 2800

I felt good before now I REALLY feel good. Cheers...Rob

I'll readily admit I'm not worth a darn at math, but the calculators usually pretty good. Ain't $70,000 divided by $2,500 = $28?

a64

The problem with calculators is that they do not make you think.
70 times 35 equals 2450. You are paying over $35 per $1000.

Like I said. I hope you do not use this same new math to figure your fuel burn.

flyer

Actually a64pilot is most likely paying about $2.64 per $100 of value or $1,850 for the hull and about $650 for the $1,000,000 in liability.

Hull rates are determined on a dollar per hundred amount...4 place tailwheels are typically about $500 -$650 for a $1 Million / $100,000 per passenger liability limit depending on the aircraft.