bluey the fly Posted November 20, 2009 Share Posted November 20, 2009 HI ALL can any one give me an idear of cost to insure a jab 230 new at say around the hundred thousand mark ?.....And what sort of cost do you pay for your flying machine?......I believe that a two stroke powered plane is very expensive ........regard steven i_dunno Link to comment Share on other sites More sharing options...
nomadpete Posted November 20, 2009 Share Posted November 20, 2009 Ask your trusty insurance broker. My Lightwing costs around $2k for $48k cover. It also d3epends significantly on your pilot hours. PeterT Link to comment Share on other sites More sharing options...
bluey the fly Posted November 20, 2009 Author Share Posted November 20, 2009 PETE ...So if i uses your costs and double it i would be looking at 4 grand...But then again i only have around 50 hours up so it could cost considerably more.. Link to comment Share on other sites More sharing options...
Relfy Posted November 20, 2009 Share Posted November 20, 2009 Look at around 3% of your hull value and you'll be close. That's what an insurance company told me when I wanted a quote for a 230 about 6 months ago. I was also told that there are only about three that insure Jabiru. Link to comment Share on other sites More sharing options...
Tomo Posted November 20, 2009 Share Posted November 20, 2009 I believe that a two stroke powered plane is very expensive ........regard steven i_dunno Don't quote me on this, but I don't think they will even insure a two stroke machine?! Not really sure why, but thats what I've heard. Link to comment Share on other sites More sharing options...
Guest Andys@coffs Posted November 20, 2009 Share Posted November 20, 2009 Look at around 3% of your hull value and you'll be close. That's what an insurance company told me when I wanted a quote for a 230 about 6 months ago. I was also told that there are only about three that insure Jabiru. Hmm perhaps its more accurate to say that there are only about 3 that insure Aircraft fullstop.(Insurance Companies that is, brokers of course on mass) Also, there are a number of aspects to insurance, the 3% identified above is just the hull insurance, if you want to add some liability insurance, to suppliment that available under our RAA scheme then that will be extra. Also for the hull insurance you will need to identify is the hull to be insured on the ground(under power or not under power) , in the hagar, when flying, as each of these is an option that all goes to change the price. Worst case I would suggest presume a $5k pa and be pleasantly surprised if you can beat it. The insurers are:- 1) QBE, 2) Vero (through insurance advisernet) 3) Allianz, but from memory only recently in the aviation insurance scene Aviation insurance, one of those things you could easily not afford, and yet cant afford to find yourself in the position of not having it.... Andy P.S like car insurance there are savings to be had for no claims in previous yrs, when your talking the amount we are, those discounts can be significant and cumulative yr on yr up to a maximum P.P.S My experience is that there is room to negotiate, very much a case of if you dont ask you wont get P3S be careful that when you insure the hull value is for replacement to the level you have. I believe (Vero from memory) have an option where you could see a total write off that results in delivery of a new kit, and not a complete aircraft. I chose QBE and in the event of a write off get a cheque for the amount minus the excess. what I do with that cheque is entirely up to me, or worst case my estate. Link to comment Share on other sites More sharing options...
HEON Posted November 20, 2009 Share Posted November 20, 2009 Have just been through this! Total hours, RECENT yearly hours, and type of use VERY important. Personally found recent NO DAMAGE emergency landing a help even if insurance had to pay recovery (around $10,000 last year). A good price for $100,000 hull would be around $3,000 including tax etc ($1500 excess). Thats around 2 1/2% of hull. Link to comment Share on other sites More sharing options...
bluey the fly Posted November 20, 2009 Author Share Posted November 20, 2009 Gee thanks fellers this has been very imformative i really had no idear what to expect. obviously i need to bo some homework,this is what is so good about this site.just ask a question and presto.....by the way tomo i know some one who has a two stroke and to insure it they quoted 10 grand ,so yeh thay dont want to cover them....:thumb_up: Link to comment Share on other sites More sharing options...
wags Posted November 20, 2009 Share Posted November 20, 2009 Try this guy. Bluey... Give Richard Donnelly (PBS Insurance) a call... he does the RAAus indemnity and I have found him to be extremely competitive and understanding of RAAus aviation and aviators. His phone number is 03 8841 3309. Good luck. Wags. Link to comment Share on other sites More sharing options...
HEON Posted November 20, 2009 Share Posted November 20, 2009 As wags says try him. I just did and will be changing from current broker who "is to busy" Link to comment Share on other sites More sharing options...
Guest studentbiggles Posted November 21, 2009 Share Posted November 21, 2009 Bluey... Give Richard Donnelly (PBS Insurance) a call... he does the RAAus indemnity and I have found him to be extremely competitive and understanding of RAAus aviation and aviators. His phone number is 03 8841 3309. Good luck. Wags. Hi Wags, also thanks for this insurance info....I'm in the process of doing my homework on all these issues to....As long as the insurer can tailor the policy to suit an individual pilots needs....Ive known a guy who crashed his A/C that was not insured!!! Oh Dear!! Cheers Studentbiggles Link to comment Share on other sites More sharing options...
J170 Owner Posted December 1, 2009 Share Posted December 1, 2009 My new Jabiru J170 ($80,000) cost me $2500 to FULLY insure. I have 200 hours as a private pilot and that makes a difference. If I wreck my plane, my passenger or a house/horse/car on the ground, I'm covered. For a million or two if I remember correctly. Next years insurance bill should be less if I make no claims. Link to comment Share on other sites More sharing options...
Vev Posted December 1, 2009 Share Posted December 1, 2009 It strikes me that aircraft hull insurance could be one of those collective services the RAA could build upon from the existing public liability insurance we have included in our license/membership fees. A number of years ago the yacht racing fraternities of a number of clubs established a boat insurance scheme that allowed boats to be included onto a schedule of a single policy. Many of us participated in this as it substantially reduced our insurance cost and claim deductibles. The management of the policy was awarded to a broker who managed all of the administration as well as provided direct support for the participants between the underwriting insurance company when making claims, which was a great help. As I said, this could be a great opportunity to use the RAA membership scale and build on the current public liability policy and help reduce our flying costs. ... May be this is a project that someone in the RAA could look into? Any thoughts or comments? Cheers Jack Link to comment Share on other sites More sharing options...
Guest Maj Millard Posted December 3, 2009 Share Posted December 3, 2009 Yes I have noticed just from talking with OAMPS/QBE, whom I am insured with, and quite happy by the way, that they like pilots to have more than 150 hr TT, they will cover taildraggers but won't let just any pilot fly them, and there not too impressed with 2 Strokes or Trikes anymore. Link to comment Share on other sites More sharing options...
Guest 172M Posted December 4, 2009 Share Posted December 4, 2009 QBE GA 4 seat, Hull $90k/$2m seat $2500 incl Fed &State ripoff! Link to comment Share on other sites More sharing options...
ahlocks Posted December 6, 2009 Share Posted December 6, 2009 Brokers!!! :baldy: My experience with a broker that advertises in the RAA magazine has included; 1. Insured for only eleven months instead of the twelve months quoted. 2. Insurance cover being nearly a grand dearer than the competition when it was eventually disclosed that the invoice supplied was for six months and not the full twelve months as requested. 3. Coverage cancelled without prior notice rather than explain themselves. Recommend contacting QBE direct - At the very least they're honest. $135K @ 2% hull /$1m CSL @ $500 + taxes = $3072 and No Broker fee. Link to comment Share on other sites More sharing options...
Yenn Posted December 16, 2009 Share Posted December 16, 2009 my experience with insurance brokers in Australia is that they will point you in the direction to get the most in their pocket. Not to look for the best deal for you. I have recently joined SAAA as I will be building an RV4 and need their help. They offer good deals to members with QBE. I havn't followed it up but it looks as if the reduction in premiums would easily pay for membership. Link to comment Share on other sites More sharing options...
Guest ozzie Posted December 16, 2009 Share Posted December 16, 2009 Gotta go along with Jack's comments here. i too would have thought the RAAus would have this up near the top of the 'to do' lists. it is for reasons like this of finally combining the RAAus and the SAAA under one banner. larger the membership base the better, both commercially and politically. Way to much for premiums, more competition needed Ozzie Link to comment Share on other sites More sharing options...
Guest Qwerty Posted December 16, 2009 Share Posted December 16, 2009 ........ combining the RAAus and the SAAA under one banner. ..........Ozzie Excellent Idea Oz, why hasn't anybody thought of it before. I can't think of a single rational reason why it wouldn't work. We should get on to RAAus and see what they can do. :baldy: :baldy: :baldy: :baldy: :baldy: :baldy: :baldy: Qwerty Link to comment Share on other sites More sharing options...
Guest ozzie Posted December 16, 2009 Share Posted December 16, 2009 bloody stupid idea. man could get lynched for saying our rock is round. Link to comment Share on other sites More sharing options...
tangocharlie123 Posted December 17, 2009 Share Posted December 17, 2009 Hi Yenn Please let us know how you go with your insurance going through SAAA if there are savings to be had they may get a new influx of members. Cheers Link to comment Share on other sites More sharing options...
Matt Posted December 17, 2009 Share Posted December 17, 2009 Another option for RA-Aus is to become an agent itself. Our association (Antique Aeroplane Association) is an agent for QBE and as part of that relationship we get some benefits from QBE such as sponsoring and arranging safety seminars, event sponsorship etc. The association makes a small commission on policies sold. Link to comment Share on other sites More sharing options...
Vev Posted December 17, 2009 Share Posted December 17, 2009 I’ve heard a number of excited suggestions in these forums about how we could use the collective buying power of the RAA memebers to obtain a better pricing option on Avgas… whilst this would be great, the discount available would only equate to may be +/- 3% (5-6 cents) discount. Yet when you think about it, the average cost of insurance (lets say $2600) is often close to the cost of fuel for some one doing say 80hrs a year… the exact numbers aren’t important so please don’t get too hung up on the exact detail. The point is, I don’t think it would take too much to build off what already exists (public liability insurance) and ask the RAA take a deep dive into this opportunity and see what can be achieved …. I wouldn’t be surprised if we could do better than 10% (eqiv 16-18 cents off Avgas) discount off insurance if we had a single schedule for RAA members. May be something for you to look at Ian? Cheers Jack Link to comment Share on other sites More sharing options...
skydog Posted December 17, 2009 Share Posted December 17, 2009 vero I know this is not a commercial site but for what its worth I have insurance from/thru Vero for the values mentioned above, about 3%++. They were fabulous to deal with on my claim. Link to comment Share on other sites More sharing options...
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