INSURANCE

[skippydiesel]

While I appreciate that this topic may have been "done to death" the reality is that aircraft insurance is forever changing, so it behoves us to review the service providers.

 

It is now almost 12 months since my aircrafts first flight and its insurance policy was taken out. Renewal looms - for me it's a staggering amount. As any sane person should do, the market should be reviewed periodically to see that the policy I am taking out is cost effective.

 

I should like to know:

• Who you are insured with? (Most of us will be insured through brokers, for the purposes of this discussion, a broker is one in the same as an insurer)
• Are you as happy as can be ? ( considering you are paying for a service, that you hope not to collect on)
• Would you recommend them?
• Any that you would not recommend?

 

I am with RAA so have  a more "comprehensive" insurance with another provider.

 

 

Edited November 13, 2023 by skippydiesel

[RFguy]

2700 approx inc GST  which includes the extra $300 for the extra PL required for larger airports.

same for the Piper and the Jab..... ahh I think the Jab is a bit cheaper 2200 I think, but insured for similar.

That was a broker from Insurance House. Geoff Tonkin, easy to work with.  recommended

 

 

[rodgerc]

• Who you are insured with? InsuranceHouse. 
• Are you as happy as can be ? Yes, with the caveat that having insured a number of aircraft for around 12 years I’ve never made a claim. 
• Would you recommend them? Yes, subject to the above caveat. 
• Any that you would not recommend? QBE via SAAA. The turf wars between SAAA and RA-Aus meant that despite being a SAAA member for >12 years, being a >500h GA pilot with numerous ratings and endorsements and building via the SAAA’s process of TC inspections using their risk radar, they would not insure my latest build because I chose to register it with RA-Aus. (I’m no longer a SAAA member.)

[skippydiesel]

RF - very good of you to talk premiums, however they mean little without the aircraft valuation. Oh! and another point - it may be hard to compare RAA ( third party insured as part of annual registration) with GA, presumably paying all aspects of insurance, to the one provider.

 

Yes I have dealt with Geoff Tonkins - never met but comes across as a decedent bloke. Unfortunatly his quote was not as cost effective as the those that I went with (Bill Owen)

Edited November 13, 2023 by skippydiesel

[skippydiesel]

47 minutes ago, rodgerc said:

 

• Who you are insured with? InsuranceHouse. 
• Are you as happy as can be ? Yes, with the caveat that having insured a number of aircraft for around 12 years I’ve never made a claim. 
• Would you recommend them? Yes, subject to the above caveat. 
• Any that you would not recommend? QBE via SAAA. The turf wars between SAAA and RA-Aus meant that despite being a SAAA member for >12 years, being a >500h GA pilot with numerous ratings and endorsements and building via the SAAA’s process of TC inspections using their risk radar, they would not insure my latest build because I chose to register it with RA-Aus. (I’m no longer a SAAA member.)

Hi Rodger - so a Waiex - how old, what engine, prop, avionics? (trying to compare with my Sonex )

 

I have been with QBE, in part, via Geoff Tonks /Insurance House - they paid out on my write-off,  after a bit of  struggle - I think they might have been inferring I crashed the aircraft deliberately.

[rodgerc]

No….The Waiex was a decade ago. It was insured with QBE via SAAA because it was VH- reg. The current RA-Aus reg plane is via InsuranceHouse. 
 

Until a claim is made you’ll never know if your insurer is any good. 

[Kyle Communications]

My first Sav was insured by Geoff Tonkin in 2012. I kept it with him all the time the 10 years I owned it. Always the best price and it got better if you had a Rotax powering it.

My next 2 which is Mabel and the Mistress. (S-21) will most likely be done through Geoff. He is without a doubt the best guy on the job

 

I cant give you who to not go to as I did some price checking with others and always came back to Geoff

 

 

Mark

 

[facthunter]

You never know till you make claims as rodgerc says. I had Aviation Underwriters and they were great but may not be around now. Reduce your exposure. I didn't insure the plane when it was in the air. Cover 3rd party and on the ground.  It was VH and tailwheel.   Nev

[Kyle Communications]

Anything tailwheel will attract almost double the cost of insurance. This is the major reason I ordered the nosedragger kit for my S-21. I ordered the kit as a TD but it will now be built as a ND

I had to make a claim when the noseleg snapped off on The Girlfriend and I have to say I was super impressed with how it was all handled and no whinging from the insurer except pushing me to get it done. I was waiting on parts from Italy so it took a while but other than that I was very pleased with them and geoff made sure everything went seamlessly

 

[Carbon Canary]

Maybe quote the premium as a % of the sum insured. This should make comparisons across brokers a little easier, but of course the fine print may be substantially different.

[SGM]

This years insurance renewal bake-off:

For our RAAus Evektor Sportar with $60k Hull, $1m additional extra liability for PAX (after the RAAus $250k), $1000 Excess, in Victoria.

Last year = $1826* (*we elected to go with a $2500 excess last year)
This year via "Bill Owen" (Agile) and the super helpful Sonya Smith = $2350
This year via "Insurance House" (Agile+QBE) and the super helpful Geoff Tonkin = $2193
AvCover: didn't quote as being RAAus they said the price would be the same as "Bill Owen"

Conclusion: roughly 20% increase on last year, with about 7% difference between the main RAAus options.

[facthunter]

Less than the % increase in accidents If they go broke they can't cover the risk. Nev