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Aircraft Insurance - for 9A

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scrimm

Joined: 09 Jan 2006
Posts: 81
Location: Gilbert, SC SC99

Posted: Sun Apr 20, 2008 12:45 pm Post subject: Aircraft Insurance - for 9A

Et All,   

I have finally located, I think, an RV-9A to purchase.  With this said, who have you all gotten the best overall service and pricing from when it come to aircraft insurance?   

Thanks,   

Steve Crimm  

Roswell, GA  

     [quote][b]

_________________
Steve Crimm
N42AH

Ed Anderson

Joined: 10 Jan 2006
Posts: 475

Posted: Sun Apr 20, 2008 1:16 pm Post subject: Aircraft Insurance - for 9A

Steve, I use SkySmith.  Had AVEMCO  previously and while the service was good the price kept increasing even as I  built up my pilot time and time in make and model.  I went to SkySmith and  the price dropped in half for the same coverage.

  

 http://www.skysmith.com/

  

 Ed

  

 Ed Anderson

Rv-6A N494BW Rotary  Powered

Matthews, NC

eanderson(at)carolina.rr.com (eanderson(at)carolina.rr.com)

http://www.andersonee.com

http://members.cox.net/rogersda/rotary/configs.htm#N494BW

http://www.dmack.net/mazda/index.html

 [quote]   ---

_________________
Ed Anderson
Rv-6A N494BW Rotary Powered
Matthews, NC
eanderson@carolina.rr.com

bill(at)repucci.com
Guest

Posted: Sun Apr 20, 2008 2:42 pm Post subject: Aircraft Insurance - for 9A

Contact Falcon, the EAA’s insurance company.  Lots of discounts and thus good rates.  

   

They also cover your hangar and contents and any other plane you might flight.  Oh, this also includes off airport landings, just in case you elect to land in your buddy’s cow pasture.  

   

Bill  

       

From: owner-rvsoutheast-list-server(at)matronics.com [mailto:owner-rvsoutheast-list-server(at)matronics.com] On Behalf Of Steve Crimm

 Sent: Sunday, April 20, 2008 4:43 PM

 To: rvsoutheast-list(at)matronics.com

 Subject: Aircraft Insurance - for 9A  

  

  

   

Et All,   

I have finally located, I think, an RV-9A to purchase.  With this said, who have you all gotten the best overall service and pricing from when it come to aircraft insurance?   

Thanks,   

Steve Crimm 

 Roswell, GA   

    	  Quote: 	
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       [quote][b]

Bill Schlatterer

Joined: 09 Jan 2006
Posts: 195

Posted: Sun Apr 20, 2008 3:46 pm Post subject: Aircraft Insurance - for 9A

These folks do a LOT of RVs and service is  excellent.  They are active on the lists and know aviation insurance.   Don't forget to ask for the AOPA discount 10% I think plus some companies are  now offering another discount for TAA aircraft.   ( TAA = Advanced  Tech )  Something like that  Jenny  Estes

 Account Executive  –  Light Aircraft Branch<?xml:namespace prefix = o ns =  "urn:schemas-microsoft-com:office:office" />

  Nation Air Aviation  Insurance    

  

 Toll Free  (877) 475-5860  /   Fax  (636) 532-3646

 Email - jestes(at)nationair.com (jestes(at)nationair.com)

  

  

 Hope that helps!

  

 Bill S

 7a Ark finishing



   From:  owner-rvsoutheast-list-server(at)matronics.com  [mailto:owner-rvsoutheast-list-server(at)matronics.com] On Behalf Of Steve  Crimm

Sent: Sunday, April 20, 2008 3:43 PM

To:  rvsoutheast-list(at)matronics.com

Subject: Aircraft  Insurance - for 9A

 

 

Et All,  

I have finally located, I think, an RV-9A to  purchase.  With this said, who have you all gotten the best overall service  and pricing from when it come to aircraft insurance?  

Thanks,  

Steve Crimm 

Roswell, GA 

[quote]



href="http://www.matronics.com/Navigator?RVSouthEast-List">http://www.matronics.com/Navigator?RVSouthEast-List

href="http://forums.matronics.com">http://forums.matronics.com

href="http://www.matronics.com/contribution">http://www.matronics.com/c

[b]

becki(at)fly-gbi.com
Guest

Posted: Sun Apr 20, 2008 4:06 pm Post subject: Aircraft Insurance - for 9A

We use  Mac McGee - Aviation Unlimited Agency (AUA) in Greensboro. Best rates we've  found anywhere. His number is 336-668-3410 or 800-727-3823. Tell him George and  Becki sent you.

  

 Becki  Orndorff

   [quote][b]

jclarkmail(at)gmail.com
Guest

Posted: Sun Apr 20, 2008 5:31 pm Post subject: Aircraft Insurance - for 9A

I second the recommendation of Jenny at NationAir.



I am a happy customer and recent got a friend to get his 9A insured there.



James

On Sun, Apr 20, 2008 at 7:43 PM, Bill Schlatterer <billschlatterer(at)sbcglobal.net (billschlatterer(at)sbcglobal.net)> wrote:

  	  Quote: 	
		       

These folks do a LOT of RVs and service is  excellent.  They are active on the lists and know aviation insurance.   Don't forget to ask for the AOPA discount 10% I think plus some companies are  now offering another discount for TAA aircraft.   ( TAA = Advanced  Tech )  Something like that  Jenny  Estes

 Account Executive  –  Light Aircraft Branch

  Nation Air Aviation  Insurance    

  

 Toll Free  (877) 475-5860  /   Fax  (636) 532-3646

 Email - jestes(at)nationair.com (jestes(at)nationair.com)

   

  

 Hope that helps!

  

 Bill S

 7a Ark finishing



   From:  owner-rvsoutheast-list-server(at)matronics.com (owner-rvsoutheast-list-server(at)matronics.com)  [mailto:owner-rvsoutheast-list-server(at)matronics.com (owner-rvsoutheast-list-server(at)matronics.com)] On Behalf Of Steve  Crimm

Sent: Sunday, April 20, 2008 3:43 PM

To:  rvsoutheast-list(at)matronics.com (rvsoutheast-list(at)matronics.com)

Subject: Aircraft  Insurance - for 9A



 

 

Et All,  

I have finally located, I think, an RV-9A to  purchase.  With this said, who have you all gotten the best overall service  and pricing from when it come to aircraft insurance?  

Thanks,  

Steve Crimm 

Roswell, GA 



 	  Quote: 	
		  



href="http://www.matronics.com/Navigator?RVSouthEast-List">http://www.matronics.com/Navigator?RVSouthEast-List



href="http://forums.matronics.com">http://forums.matronics.com

href="http://www.matronics.com/contribution">http://www.matronics.com/c





st" target="_blank">http://www.matronics.com/Navigator?RVSouthEast-List



a>http://forums.matronics.com

_blank">http://www.matronics.com/contribution



	


	


-- 

This is an alternate email. Please continue to email me at james(at)nextupventures.com (james(at)nextupventures.com) .

  [quote][b]

rickgray(at)roadrunner.co
Guest

Posted: Mon Apr 21, 2008 3:39 am Post subject: Aircraft Insurance - for 9A

I 'used' to recommend Nation Air as  well. I probably (regretfully) sent a couple dozen RV folks to them. They were  GREAT...right up until I had a claim due to an engine out off airport landing.  They finally paid off but when I wanted to insure another RV they MORE THAN  DOUBLED my premium for the same hull value and blamed the rate increase on the  claim and AIG when asked why the HUGE increase. I told them 'no thank you' and  called Mac at AUA. After telling Mac about the claim and Nation Air.....AUA  (Mac) provided me with the same hull value for the same premium I was paying  before the accident......through AIG. Hmmm...go figure. There's more to the  story but if I told the rest you'd think I was just here to put down Nation  Air....I'm not....just sharing a couple of facts...you can make up your own  mind. The short of it is that they were super as long as I was paying my  premium....when I needed them the most they weren't my friends anymore. I would  NEVER recommend Nation Air again.

 Rick in Ohio at the Buffalo  Farm

  

 [quote]   ---

rledwards9(at)yahoo.com
Guest

Posted: Mon Apr 21, 2008 6:57 pm Post subject: Aircraft Insurance - for 9A

Thanks, Becki,  I finished my RV6 last year using your

videos and it came out great.  Thanks again.  I'll

give them a call.

Roger Edwards N666R  SPG 



--- Becki <becki(at)fly-gbi.com> wrote:



 	  Quote: 	
		       We use Mac McGee - Aviation Unlimited Agency

 (AUA) in Greensboro. Best rates we've found

 anywhere. His number is 336-668-3410 or

 800-727-3823. Tell him George and Becki sent you.

 

 Becki Orndorff

becki(at)fly-gbi.com
Guest

Posted: Tue Apr 22, 2008 5:44 am Post subject: Aircraft Insurance - for 9A

Roger,

    Congratulations on your plane! Hope you are enjoying it. Glad we could 

help.



Becki Orndorff



---

NationAir

Joined: 14 Nov 2007
Posts: 6
Location: Chesterfield, MO

Posted: Tue Apr 22, 2008 11:09 am Post subject: Re: Aircraft Insurance - for 9A

[quote="rickgray(at)roadrunner.co"]I 'used' to recommend Nation Air as  well. I probably (regretfully) sent a couple dozen RV folks to them. They were  GREAT...right up until I had a claim due to an engine out off airport landing.  They finally paid off but when I wanted to insure another RV they MORE THAN  DOUBLED my premium for the same hull value and blamed the rate increase on the  claim and AIG when asked why the HUGE increase. I told them 'no thank you' and  called Mac at AUA. After telling Mac about the claim and Nation Air.....AUA  (Mac) provided me with the same hull value for the same premium I was paying  before the accident......through AIG. Hmmm...go figure. There's more to the  story but if I told the rest you'd think I was just here to put down Nation  Air....I'm not....just sharing a couple of facts...you can make up your own  mind. The short of it is that they were super as long as I was paying my  premium....when I needed them the most they weren't my friends anymore. I would  NEVER recommend Nation Air again.

 Rick in Ohio at the Buffalo  Farm

  

  	  Quote: 	
		     --- 	




I would like to clarify a few things regarding this loss.  First, some industry basics for clarification purposes.   There are three parties involved in every insurance transaction They are the insured (owner of the aircraft), the broker ( the person/company who gets the quotes and collects the premium for the underwriter) and  the underwriter/insurance company(actual company that insures the aircraft and pays the claims.  The broker pays the company out of the premium you send him/her).  A broker does not pay claims.  A broker does not set insurance rates.  There are several mentions above stating that NationAir took a long time to pay and that NationAir was doubling his premium.  We do not control the payment of claims - the underwriter / insurance company does.  We can help the process move along by making sure the insured knows what information he may need to bring the claim to a settlement, but somethingâ€™s are out of our hands.  We do not control rates, we simply let you know the rates and the coverageâ€™s associated with those rates.  We negotiate when we can the best rates and coverageâ€™s for you and your aircraft.  



The loss occurred the same day the policy was started.  



The reason the claim payout took as long as it did was the title to the aircraft was not clear.  In order for any insurance company to pay on a total loss, they need clear title because they take the aircraft and sell the salvage.  Because the loss occurred same day as the purchase, a clear title was not readily available.  It took approximately 60 days from the date of loss to go through this process and pay the claim for the FULL stated hull value of the aircraft.  As for the premium, the insurance company only charged one day of premium for this total loss payout.



The reason for the insurance increase was due to the fact the underwriter (EAA Program underwriter â€“ Global Aerospace) had just paid out a significant loss and collected very little premium.  The loss was not Rickâ€™s fault, but the insurance principle is similar to homeowners insurance, if they pay a large loss even if it is not your fault, they may surcharge you for a year or two to help offset the loss ratio against you.  That was the case here.  



In the past our industry, especially the underwriters, typically would decline to quote new business that had a recent loss â€“ even whether or not the loss was the pilots fault.  We tried to negotiate with Global on the rate because we felt it was high, but they would not budge.  We also approached AIG â€“ I actually went to the top man â€“ the Manager for their Eastern Division and received a quote which was even higher than the Global quote.  Typically in AIGâ€™s quoting system the underwriters are supposed to check each risk to see if it has been previously quoted.  In this case that did not happen and a line underwriter quoted the risk to a different broker, lower than what the branch manager had quoted.  It is very rare that this occurs, but it does occur.



I want to assure all of you that we take your business seriously and we are your advocates at any renewal or in any claim.  I know this business very well having done aviation insurance claims for Avemco and U.S. Specialty and having been an aviation underwriter at USAIG.  At NationAir we have a dedicated agent in Jenny Estes that focuses on the needs of RV builders and flyers.  Together our office focuses on light aircraft including  RVâ€™s and this is all we do, so your account doesnâ€™t get pushed aside so we can work on a charter account or corporate flight department. 



There are many good brokers in this industry SkySmith, Falcon name a few.  Pick the one that will give you the best service and rates.  Falcon is the broker for the EAA Program - BUT that program available to all brokers at the same rates they do not get additional discounts.  Falcon is not the EAA insurance company Global Aerospace is.

_________________
David McCoy
Branch Manager
Light Aircraft Division
NationAir Aviation Insurance
www.nationair.com

danhorton(at)elmore.rr.co
Guest

Posted: Tue Apr 22, 2008 3:48 pm Post subject: Aircraft Insurance - for 9A

<<Typically in AIG's quoting system the underwriters are supposed to check 

each risk to see if it has been previously quoted. >>



David, thank you for your explanation, but I must say the "quote capture" 

system referenced above is perhaps the single most irritating thing about 

aircraft insurance.   It is an anti-competitive price-fixing game designed 

to protect broker commissions.  First broker to obtain a quote from a 

particular underwriter has you captured....which is why every broker's first 

request is "let me get you a quote".  Sure, you can chat with him all you 

like, but when he gives you a price, you're locked; in theory you can't get 

a quote from another broker for insurance with that same underwriter.



Ahh, but you say all quotes from the same underwriter would all be the same 

anyway?  Well, yes they would, IF the brokers all agreed to not discount 

commissions.  However, that would be unlikely in a free market, and probably 

illegal anyway.



Imagine a system where the first Chevy dealer to register your name with GM 

was the only dealer allowed to sell you a car....and as such, his profit was 

non-negotiable.



Dan Horton

bburril(at)carolina.rr.co
Guest

Posted: Wed Apr 23, 2008 3:41 am Post subject: Aircraft Insurance - for 9A

You tell him Dan it is price fixing in every way!!!----- Original 

Message ----- 

From: "Dan Horton" <danhorton(at)elmore.rr.com>

To: <rvsoutheast-list(at)matronics.com>

Sent: Tuesday, April 22, 2008 7:46 PM

Subject: Re: Re: Aircraft Insurance - for 9A

 	  Quote: 	

 <danhorton(at)elmore.rr.com>

 <<Typically in AIG's quoting system the underwriters are supposed to check 

 each risk to see if it has been previously quoted. >>

 David, thank you for your explanation, but I must say the "quote capture" 

 system referenced above is perhaps the single most irritating thing about 

 aircraft insurance.   It is an anti-competitive price-fixing game designed 

 to protect broker commissions.  First broker to obtain a quote from a 

 particular underwriter has you captured....which is why every broker's 

 first request is "let me get you a quote".  Sure, you can chat with him 

 all you like, but when he gives you a price, you're locked; in theory you 

 can't get a quote from another broker for insurance with that same 

 underwriter.

 Ahh, but you say all quotes from the same underwriter would all be the 

 same anyway?  Well, yes they would, IF the brokers all agreed to not 

 discount commissions.  However, that would be unlikely in a free market, 

 and probably illegal anyway.

 Imagine a system where the first Chevy dealer to register your name with 

 GM was the only dealer allowed to sell you a car....and as such, his 

 profit was non-negotiable.

 Dan Horton

Speedy11(at)aol.com
Guest

Posted: Wed Apr 23, 2008 5:43 am Post subject: Aircraft Insurance - for 9A

David,

  

 An excellent reply and explanation.  There are always two sides to a  story.

  

 However ... consider that as consumers we recognize you, the retailer, as  "the insurance company" much as we recognize the local grocery store as a food  supplier - even though they are only the retailer for the food industry.   So, when we, as insurance consumers, have an insurance problem we look to you  (the insurance company) for resolution.  We have paid you to intervene  for us and we expect value for the premium we pay.  As you know, value is  really the "perception" of value and the critical part of the perception  equation lies with the consumer.

  

 Furthermore, I don't buy your argument regarding the reasoning for doubling  the premium on the new aircraft.  A "surcharge" is not suitable.  I'm  certain that insurance underwriters build in to their premiums additional fees  to cover situations where a loss occurs immediately after retention of a  policy.  All premium payers are charged for that valuable part of the  policy.  Thus, doubling a premium because a loss occurred on day one of a  policy is not, in my opinion, a valid argument.

  

 Additionally, there is another insurance industry policy that disturbs me  to no end.  I call it "honor among thieves."  If I have an insurance  policy that is 6 months into its planned coverage, you will not quote a price  for me.  You insist on not stepping on another insurance retailer's  toes.  Why?

  

 I know, since I've questioned the almighty insurance  businesses, my insurance rates will probably now suddenly increase -  but, I can assure you I'm not the only consumer who has these questions.

  

 Stan Sutterfield

  

  	  Quote: 	
		  [quote="rickgray(at)roadrunner.co"]I 'used' to recommend Nation Air    as  well. I

probably (regretfully) sent a couple dozen RV folks to    them. They were  GREAT...right

up until I had a claim due to an engine    out off airport landing.  They

finally paid off but when I wanted to    insure another RV they MORE THAN  DOUBLED

my premium for the same hull    value and blamed the rate increase on the  claim

and AIG when asked    why the HUGE increase. I told them 'no thank you' and 

called Mac at AUA.    After telling Mac about the claim and Nation Air.....AUA     (Mac)

provided me with the same hull value for the same premium I was    paying  before

the accident......through AIG. Hmmm...go figure.    There's more to the  story

but if I told the rest you'd think I was    just here to put down Nation  Air....I'm

not....just sharing a couple    of facts...you can make up your own  mind.

The short of it is that    they were super as long as I was paying my  premium....when

I needed    them the most they weren't my friends anymore. I would     NEVER

recommend Nation Air again.

Rick in Ohio at the Buffalo     Farm

 	  Quote: 	
		      ---


	




I would like to clarify a few    things regarding this loss.  First, some industry

basics for    clarification purposes.   There are three parties involved in     every

insurance transaction They are the insured (owner of the aircraft),    the broker

( the person/company who gets the quotes and collects the    premium for the underwriter)

and  the underwriter/insurance    company(actual company that insures

the aircraft and pays the claims.     The broker pays the company out of the premium

you send him/her).  A    broker does not pay claims.  A broker does not set

insurance    rates.  There are several mentions above stating that NationAir took

a    long time to pay and that NationAir was doubling his premium.  We do not    control

the payment of claims - the underwriter / insurance company    does.  We can

help the process move along by making sure the insured    knows what information

he may need to bring the claim to a settlement, but    somethings are out of our

hands.  We do not control rates, we simply    let you know the rates and the coverages

associated with those rates.     We negotiate when we can the best rates

and coverages for you and your    aircraft.  



The loss occurred the same day the policy was    started.  



The reason the claim payout took as long as it did was    the title to the aircraft

was not clear.  In order for any insurance    company to pay on a total loss, they

need clear title because they take the    aircraft and sell the salvage.  Because

the loss occurred same day as    the purchase, a clear title was not readily

available.  It took    approximately 60 days from the date of loss to go through

this process and    pay the claim for the FULL stated hull value of the aircraft.

As for the    premium, the insurance company only charged one day of premium for

this    total loss payout.



The reason for the insurance increase was due to the    fact the underwriter (EAA

Program underwriter  Global Aerospace) had    just paid out a significant loss and

collected very little premium.     The loss was not Ricks fault, but the insurance

principle is similar to    homeowners insurance, if they pay a large loss even

if it is not your    fault, they may surcharge you for a year or two to help offset

the loss    ratio against you.  That was the case here.  



In the past our    industry, especially the underwriters, typically would decline

to quote new    business that had a recent loss  even whether or not the loss was

the    pilots fault.  We tried to negotiate with Global on the rate because we    felt

it was high, but they would not budge.  We also approached    AIG  I actually

went to the top man  the Manager for their    Eastern Division and received a quote

which was even higher than the Global    quote.  Typically in AIGs quoting system

the underwriters are supposed    to check each risk to see if it has been previously

quoted.  In this    case that did not happen and a line underwriter quoted

the risk to a    different broker, lower than what the branch manager had quoted.

It is very    rare that this occurs, but it does occur.



I want to assure all of you    that we take your business seriously and we are your

advocates at any    renewal or in any claim.  I know this business very well having

done    aviation insurance claims for Avemco and U.S. Specialty and having been

an    aviation underwriter at USAIG.  At NationAir we have a dedicated    agent

in Jenny Estes that focuses on the needs of RV builders and    flyers.  Together

our office focuses on light aircraft including     RVs and this is all we do, so

your account doesnt get pushed aside so we    can work on a charter account or corporate

flight department. 



There    are many good brokers in this industry SkySmith, Falcon name a few.     Pick

the one that will give you the best service and rates.  Falcon is    the broker

for the EAA Program - BUT that program available to all brokers    at the same rates

they do not get additional discounts.  Falcon is not    the EAA insurance company

Global Aerospace is.



--------

David    McCoy 	


 

  



Need a new ride? Check out the largest site for U.S. used car listings at AOL Autos.

  [quote][b]

Speedy11(at)aol.com
Guest

Posted: Wed Apr 23, 2008 5:46 am Post subject: Aircraft Insurance - for 9A

Ah, I should have kept reading the list.  Dan Horton asked a similar  question.

 Stan Sutterfield

  

  	  Quote: 	
		  David,    thank you for your explanation, but I must say the "quote capture" 

system    referenced above is perhaps the single most irritating thing about    

aircraft insurance.   It is an anti-competitive price-fixing    game designed 

to protect broker commissions.  First broker to obtain    a quote from a 

particular underwriter has you captured....which is why    every broker's first 

request is "let me get you a quote".  Sure, you    can chat with him all you 

like, but when he gives you a price, you're    locked; in theory you can't get 

a quote from another broker for insurance    with that same underwriter.



Ahh, but you say all quotes from the same    underwriter would all be the same 

anyway?  Well, yes they would, IF    the brokers all agreed to not discount 

commissions.  However, that    would be unlikely in a free market, and probably 

illegal    anyway.



Imagine a system where the first Chevy dealer to register your    name with GM 

was the only dealer allowed to sell you a car....and as such,    his profit was 

non-negotiable.



Dan Horton 	


 

  



Need a new ride? Check out the largest site for U.S. used car listings at AOL Autos.

  [quote][b]

NationAir

Joined: 14 Nov 2007
Posts: 6
Location: Chesterfield, MO

Posted: Wed Apr 23, 2008 8:28 am Post subject: Re: Aircraft Insurance - for 9A

[quote="Speedy11(at)aol.com"]David,

  

 An excellent reply and explanation.  There are always two sides to a  story.

  

 However ... consider that as consumers we recognize you, the retailer, as  "the insurance company" much as we recognize the local grocery store as a food  supplier - even though they are only the retailer for the food industry.ï¿½  So, when we, as insurance consumers, have an insurance problem we look to you  (the insurance company) for resolution.  We have paid you to intervene  for us and we expect value for the premium we pay.  As you know, value is  really the "perception" of value and the critical part of the perception  equation lies with the consumer.

  

 Furthermore, I don't buy your argument regarding the reasoning for doubling  the premium on the new aircraft.  A "surcharge" is not suitable.  I'm  certain that insurance underwriters build in to their premiums additional fees  to cover situations where a loss occurs immediately after retention of a  policy.  All premium payers are charged for that valuable part of the  policy.  Thus, doubling a premium because a loss occurred on day one of a  policy is not, in my opinion, a valid argument.

  

 Additionally, there is another insurance industry policy that disturbs me  to no end.  I call it "honor among thieves."  If I have an insurance  policy that is 6 months into its planned coverage, you will not quote a price  for me.  You insist on not stepping on another insurance retailer's  toes.  Why?

  

 I know, since I've questioned the almighty insurance  businesses, my insurance rates will probably now suddenly increase -  but, I can assure you I'm not the only consumer who has these questions.

  

 Stan Sutterfield [Quote]



Stan-



Yep raised your rates today!  Never question the almighty.  HA HA HA - just kidding.



Thank you for your concerns they are valid points when it comes to this industry.  I'll try to shed some light on your thoughts and hope not to get run out of town.     

   



Your right - value is the perception of the consumer gets in return for what he has paid money for.  If no losses ever occur and all you do year after year is renew your coverage - the value may seem low.  If you have a loss and the underwriter pays right away and you don't have complications - the value may be high, if you have a loss and things don't go easily or go the clients way the value is worthless many times.  It's our job as brokers in every instance to keep the value high.  That is done in many ways.  Answering questions anytime you have one about the market or your policy, responding to change requests promptly, aiding in your claim settlement if needed, and making sure you have the right coverage for the right price.  Cheaper is not always in your best interest.



As for the built in premium for first day losses.  In some policies yes this is the case - the policies where your premium is "fully earned" in the event of a loss.  In my expierence as an underwriter, most policies - including the Global Aerospace (EAA) policy allows for the pro-rata return of unearned hull premium in a total loss.  In those cases the premium is not built in.  They just hope they have very few losses early in the policy period.  The only time they charge more is if you are new to the airplane and you do not have make and model experience - then they up the price some for what hey consider a higher exposure.  Under the Global or similar policy if you have a loss for one day you only pay for one day of premium.   Also in this case the "surcharge" was not because the loss happened in the first day - it was because of the large loss.  Typically the number of days does not really matter.



As for the "honor among thieves."  I know this seems like it works against you but in reality it works everyone in the long run.  Policies are set up for a year.  This allows for ease of renewals and time for many people to get a good transition in the aircraft.  The underwriters are staffed accordingly to process these annual policies along with changes that may occur throughout the year.  If you were to get a quote two times a year they would need additional staff and you would have to complete more and more paperwork.  Because the current quoting systems (maunal underwriting)- especially with experimentals requires underwriter review you would have to double staff to keep up with the work load.  More staff and work just leads to higher pricing on the consumers end.  Many of these insurance underwriters are smaller than you think.  Also, since the policies state that if the insured cancels the policy for any reason before its annual due date you get whats called a "short-rate" return.  Many times the penalty involved with a short rate return is equal to or more than the savings on the next policy.  Again its main purpose is to keep the cost of business down.  Not a great explaination but this is a tough one to explain by typing.

_________________
David McCoy
Branch Manager
Light Aircraft Division
NationAir Aviation Insurance
www.nationair.com

bburril(at)carolina.rr.co
Guest

Posted: Wed Apr 23, 2008 9:53 am Post subject: Aircraft Insurance - for 9A

You tell them Stan i'am so mad I can't.

 [quote]   ---

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