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Does anyone have a good Insurance Broker they would like to recommend (VH)? I must say I see insurance as a true benefit of RAA membership, but it does not apply to VH sadly.

 

I have been using BIS and BSP in the past and both quote around $2k for a $60k aircraft (3.3% of hull value). Anyone else have better rates with someone? I have around 700hrs, TW, NVFR, CSU and no accident history and looking for a better deal...that obviously still pays out if something does ever go wrong of course! ;-)

 

THANKS,

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I agree with 2k being too much for the aircraft Paul. I would fly uninsured for that. In fact I have done just that for 40 years. Hull insurance is a bad deal for careful private owners. A one in a thousand risk for a 20,000 dollar payout is worth $20.

It is only the third party where you could need help to pay out, for example if you made a young doctor ( passenger or innocent bystander) into a vegetable, the payout would be millions..

If you don't want to take this risk, then you need third party insurance, but this is not hull insurance.

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The same math still applies though. A one in a million chance of a ten million payout is worth ten dollars. But if you can just see your way clear on the 20 thousand, there are not many who can afford ten million. That's where insurance comes in, and you will pay hundreds of dollars for the tiny but unaffordable risk.

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I would recommend Grant Cerni at InsurePlanes. He bought out Gladys and Stuart Smith, I believe. Not the cheapest but straight talking and seems to genuinely want to find you the best deal. But if you're looking for a cheaper deal than you currently have, he may not be for you.

 

Alan

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I agree with 2k being too much for the aircraft Paul. I would fly uninsured for that. In fact I have done just that for 40 years. Hull insurance is a bad deal for careful private owners. A one in a thousand risk for a 20,000 dollar payout is worth $20.

It is only the third party where you could need help to pay out, for example if you made a young doctor ( passenger or innocent bystander) into a vegetable, the payout would be millions..

If you don't want to take this risk, then you need third party insurance, but this is not hull insurance.

 

Bruce - it doesn’t take being a vegetable. I’ve just been retired for a mashed right elbow post someone else’s screwup.

 

I suggest you have a good read of the damage by aircraft act and take note of the provisions re: liabilty.

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Monduran Aero Club Insurance Scheme - you have to join the club but it will save you heaps!

[email protected]

 

The broker was really helpful and honest. Appears that my current insurance probably compares quite well to the local deal for Monduran club members anyway, although I was not able to take advantage of it regardless as you need to hangar within 100Nm unfortunately.

 

if I was local, I suspect I would have insured via them.

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The broker was really helpful and honest. Appears that my current insurance probably compares quite well to the local deal for Monduran club members anyway, although I was not able to take advantage of it regardless as you need to hangar within 100Nm unfortunately.

 

if I was local, I suspect I would have insured via them.

Apologies, I wasn’t aware of a geographical constraint.

I understand that there are over 600 aircraft insured through them now so I assume it’s all due to economies of scale.

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