 |
Matronics Email Lists
Web Forum Interface to the Matronics Email Lists
|
| View previous topic :: View next topic |
| Author |
Message |
AV8ORJWC
Joined: 13 Jul 2006
Posts: 1149
Location: Aurora, Oregon "Home of VANS"
|
 Posted: Tue Dec 05, 2006 11:07 am Post subject: Insurance Underwriting |
 |
|
Rick, Please add some clarity here… from your perspective. Does an insurance underwriter make no rate change for choice of alternative engine and non certificated prop choice rather than certificated engine (IO-540D4A5) and certificated prop (Hartzell 2 blade) for the exact same pilot and airframe hull coverage?
A post was made which implied coverage was available and could lead someone to believe the costs are equal. Can you clarify?
I asked mine about horsepower and that wasn’t a concern (Hot Rodding). Lack of an Instrument ticket and low hours did factor into premium. Retractable Gear and Tail Dragger too but we don’t have to worry about that either. I forgot to ask about Alt Engines, cause I got off on a tangent of gyrocopters and he spun out of control with me as a future customer. I could barely auto-rotate the dialog in time by telling him I was only asking about a friend who had one (Uncovered). The Subie discussion got me going.
Maybe someone has Sky Smiths number who believes he is the know all, be all, end all for insurance rates.
John Cox
#40600
[quote][b]
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV10-List |
|
|
|
| Back to top |
|
 |
LloydDR(at)wernerco.com
Guest
|
| Posted: Tue Dec 05, 2006 11:45 am Post subject: Insurance Underwriting |
|
|
To answer your question on this and the RV7 airframe, there was not a premium difference for either engine, it was based on TT and my lack of IFR ticket. When I got initial quotes on the 10, it was quoted the same way, that is why I am getting my IFR done ASAP. There is a significant price drop, and once I get more time in type there will be another price break.
But if the plane falls out of the air, like all are predicting, then all bets are off!
Honestly, I do not feel this is any more experimental, then flying hard IFR behind an experimental panel. you just have to determine what you are willing to do, test it, test it some more, and move on.
Dan
From: owner-rv10-list-server(at)matronics.com [mailto:owner-rv10-list-server(at)matronics.com] On Behalf Of John W. Cox
Sent: Tuesday, December 05, 2006 2:07 PM
To: rv10-list(at)matronics.com
Subject: Insurance Underwriting
Rick, Please add some clarity here… from your perspective. Does an insurance underwriter make no rate change for choice of alternative engine and non certificated prop choice rather than certificated engine (IO-540D4A5) and certificated prop (Hartzell 2 blade) for the exact same pilot and airframe hull coverage?
A post was made which implied coverage was available and could lead someone to believe the costs are equal. Can you clarify?
I asked mine about horsepower and that wasn’t a concern (Hot Rodding). Lack of an Instrument ticket and low hours did factor into premium. Retractable Gear and Tail Dragger too but we don’t have to worry about that either. I forgot to ask about Alt Engines, cause I got off on a tangent of gyrocopters and he spun out of control with me as a future customer. I could barely auto-rotate the dialog in time by telling him I was only asking about a friend who had one (Uncovered). The Subie discussion got me going.
Maybe someone has Sky Smiths number who believes he is the know all, be all, end all for insurance rates.
John Cox
#40600
[quote]
href="http://www.aeroelectric.com">www.aeroelectric.com
href="http://www.buildersbooks.com">www.buildersbooks.com
href="http://www.kitlog.com">www.kitlog.com
href="http://www.homebuilthelp.com">www.homebuilthelp.com
href="http://www.matronics.com/contribution">http://www.matronics.com/chref="http://www.matronics.com/Navigator?RV10-List">http://www.matronics.com/Navigator?RV10-List
[b]
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV10-List |
|
|
|
| Back to top |
|
|
AV8ORJWC
Joined: 13 Jul 2006
Posts: 1149
Location: Aurora, Oregon "Home of VANS"
|
| Posted: Tue Dec 05, 2006 12:34 pm Post subject: Insurance Underwriting |
|
|
My company Regal-Wissmiller had adds for lack of IFR, adds for Retract, adds for taildragger, adds for under 400 hours TT and adds for alternate engine. Major adds for Lancair make and model specific.
No add for Van’s with nose wheel, no adds for horsepower above 210, 250 or 300. To which I was pleasantly surprised while holding passion as a Hot Rodder. Glass EFIS is triggering a whole new discussion as they look at rates and the number of low time Cirrus pilots who pull the chute and destroy the plane rather than trying to fly it.
Proficiency Training is not Transition Training and I sense that I hear the sounds of that train approaching in the distance. Anyone want to bet the percentage of RV-10 builder’s with less than 1,000 hours and Private Pilot Certificate (Sans IFR) in the gene pool. We have quite a colorful fruit basket when trying to compare insurance impact.
Others may want to know the company to pursue and this leads back to the query several weeks ago for tracking.
John Cox
From: owner-rv10-list-server(at)matronics.com [mailto:owner-rv10-list-server(at)matronics.com] On Behalf Of Lloyd, Daniel R.
Sent: Tuesday, December 05, 2006 11:45 AM
To: rv10-list(at)matronics.com
Subject: RE: Insurance Underwriting
To answer your question on this and the RV7 airframe, there was not a premium difference for either engine, it was based on TT and my lack of IFR ticket. When I got initial quotes on the 10, it was quoted the same way, that is why I am getting my IFR done ASAP. There is a significant price drop, and once I get more time in type there will be another price break.
But if the plane falls out of the air, like all are predicting, then all bets are off!
Honestly, I do not feel this is any more experimental, then flying hard IFR behind an experimental panel. you just have to determine what you are willing to do, test it, test it some more, and move on.
Dan
From: owner-rv10-list-server(at)matronics.com [mailto:owner-rv10-list-server(at)matronics.com] On Behalf Of John W. Cox
Sent: Tuesday, December 05, 2006 2:07 PM
To: rv10-list(at)matronics.com
Subject: Insurance Underwriting
Rick, Please add some clarity here… from your perspective. Does an insurance underwriter make no rate change for choice of alternative engine and non certificated prop choice rather than certificated engine (IO-540D4A5) and certificated prop (Hartzell 2 blade) for the exact same pilot and airframe hull coverage?
A post was made which implied coverage was available and could lead someone to believe the costs are equal. Can you clarify?
I asked mine about horsepower and that wasn’t a concern (Hot Rodding). Lack of an Instrument ticket and low hours did factor into premium. Retractable Gear and Tail Dragger too but we don’t have to worry about that either. I forgot to ask about Alt Engines, cause I got off on a tangent of gyrocopters and he spun out of control with me as a future customer. I could barely auto-rotate the dialog in time by telling him I was only asking about a friend who had one (Uncovered). The Subie discussion got me going.
Maybe someone has Sky Smiths number who believes he is the know all, be all, end all for insurance rates.
John Cox
[quote][b]
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV10-List |
|
|
|
| Back to top |
|
|
Rick S.
Joined: 12 Feb 2006
Posts: 347
Location: Las Vegas
|
| Posted: Tue Dec 05, 2006 1:36 pm Post subject: Insurance Underwriting |
|
|
It really depends on each company. Your best bet for lowering your rates is an IFR rating followed by total time and total time in type which some people forget about. You will see exclusions for alternate power plants for the first 10 hours or so of operation, I guess if it runs for 10 hours it must be OK?? I've seen this on Lycs too mainly on untested designs. The RV-10 has broken the 50 completed and flying mark, bet knowbody knew about that invisible barrier, this has dropped some premiums but like gas prices, once they are there they seem to stay. The worst thing that can happen now is for a rash of RV-10 incidents not only for the humanity issue but for everyone elses coverage. Please all you guys flying guys and gals be safe, prove the underwriters wrong.
Eggenfellner has an advantage over say a Corvair engine because he has a lot of his packages flying and building sucessful time without much incident, David D. and Ray are the only two I know about, David's threw belt if I recall that shut down any rotation of the PSRU or crank, and Ray's (who has a sucessful RV-10 and posts here) lost power, I forget what exactly he thought but I think it was suspected vapor lock. He is the POC for facts.
Underwriters are fickle, I'm from the risk managment, loss control side. Recently age has become a factor, not your "age" but the age you received your PPL. Think your credit rating has anything to do with your premium? bet on it. Just another figure to show how responsible you may or may not be. My coverage...yes mine...even though I am partnered in Aircraft Mutual, I still need insurance for the now and near future, has some pretty high training requirements before they effect flight coverage for me, 15 hours of dual in an RV-10, mainly because of only 172 experience, I have TT just over 125. Remember it's a human that checks the little boxes and what kinda day that person is having can determine your coverage....underwriting is a dark art, thanks to the AOPA and the EAA, they are fighting to educate insurance company's on how we do business, it was not long ago I was having lunch with several underwriters from starts with "A" ends with "G", all of them thought homebuilders
and pilots in general were a few bricks shy. I did my best to educate them for the next half hour, then let them buy lunch, they might think I was nuts....but I showed them I wasn't stupid!! 
Rick S.
do not archive
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV10-List |
|
_________________
Rick S.
RV-10
40185 |
|
| Back to top |
|
|
GRANSCOTT(at)aol.com
Guest
|
| Posted: Tue Dec 05, 2006 1:52 pm Post subject: Insurance Underwriting |
|
|
Rick,
Last year my rates decreased fairly dramatically in our spam can while not IFR, I did complete the Cessna FITS course on the G 1000 system plus added 300 hours in one year. Hope to finish up the IFR/Commercial rating in the next couple of months but I doubt that this will lower my rate much.
Patrick
[quote][b]
| | - The Matronics RV10-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV10-List |
|
|
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum
|
Powered by phpBB © 2001, 2005 phpBB Group
|
Get Email Distribution Too!
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
