DID YOU KNOW insurance is forever changing?

[LRingeisen]

Insurance changes constantly. We know 2019 has been a tough year for all of us adjusting to the higher premiums and tighter insurance guidelines, but we want to continue to keep you informed of some of the changes we have been made aware of. A couple of things we have noticed lately is that deductibles are starting to reappear. This isn?t to lower rates, but instead to make the insurance companies more comfortable insuring low time pilots, specifically on tailwheel aircraft. We haven?t seen much of this yet, but it has happened. Another thing we?ve noticed is that the RV-8/RV-8A have been getting more difficult to insure. Companies typically want to see pilots with at least 25 hours in the make and model. We?re not saying that you can?t get a quote if you have less hours than that, but we want you to know that it is easier if you do.

We?re not the only one?s trying to help you. Some of our insurance companies want to give you some tips and tricks of how to keep insurance costs down and how to make it easier to get the best policy available. Below is a link form Global Aerospace. With their permission, we wanted to pass this article along to anyone who may not have seen it. There is some good information in it.

Just remember, quotes are only valid for 60-90 days depending on the insurance company, because insurance is forever changing.

https://www.global-aero.com/insuring...surancehurdles

[jssaylor2007]

Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?

[LRingeisen]

Originally Posted by jssaylor2007

Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?

Yes, you could do that. Of course we don't recommend or suggest doing so, but if you came to a broker with 25 hours in the make and model, you shouldn't be required to have any dual training.

[RV8JD]

I posted my recent quotes (9/27/19) for my insurance renewal on my RV-8 in this post:

http://www.vansairforce.com/communit...6&postcount=19

I ended up renewing with Global. While perusing the new Policy, I noticed page 2 contained an offer for 1 year of free Savvy Aviation Aircraft Breakdown Assistance. (I went back and looked at last year's Policy and found it was offered last year also, but I missed the offer. So it pays to read your Policy!)

Click for larger image:



I'm not sure how helpful it might be in an AOG situation, but hopefully I won't need to find out.

[LRingeisen]

Originally Posted by RV8JD

I ended up renewing with Global. While perusing the new Policy, I noticed page 2 contained an offer for 1 year of free Savvy Aviation Aircraft Breakdown Assistance.

You are correct. Global offered the Savvy coverage on a trial basis and had so much positive feedback that they decided to continue. For now the additional perk is still included on most of their policies.

[Ironflight]

Originally Posted by jssaylor2007

Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?

This is essentially the route that we are having to take with the Subsonex. I was fortunate that I earned the rating in the factory jet because I was a journalist, so I had three hours in type when I went to insure my jet - but that didn?t mean diddly to insurance companies with respect to hull coverage. no one would bid. I was able to get liability for a hefty price this first year. When renewal comes around next spring, and I have collected many more hours in type, we?ll see if that makes a difference - I am most curious.

Other builders don?t get to fly the factory jet for their rating training (ironically enough, because Sonex can?t get insurance....), so they?ll have ZERO hours in type to start.

So...sometimes you just have to take a risk and self-insure the hull in some cases.

[Kyle Boatright]

Originally Posted by Ironflight

This is essentially the route that we are having to take with the Subsonex. I was fortunate that I earned the rating in the factory jet because I was a journalist, so I had three hours in type when I went to insure my jet - but that didn?t mean diddly to insurance companies with respect to hull coverage. no one would bid.

That's kinda frightening with a >$100k investment, especially when you're uninsured during the flyoff phase - probably your highest risk period from a hull loss perspective. Is that common knowledge in the Sonex jet community?

[painless]

Personally, I?m more concerned with the liability side of flying without insurance. .

[Timberwolf]

Originally Posted by Kyle Boatright

That's kinda frightening with a >$100k investment, especially when you're uninsured during the flyoff phase - probably your highest risk period from a hull loss perspective. Is that common knowledge in the Sonex jet community?

Not really all that uncommon. I ran into similar situation with my Moose. Only a few would take, and their requirements were unreasonable, ?25 hours with a DPE who has 250 hours in type.? Try insuring a floatplane if you want a good laugh. They might bite if you?re willing to drop $15k a year....

[NewbRVator]

If you don?t ?qualify? from an insurance perspective but have the licensure can one find liability only? Otherwise is someone forced to fly ?naked? until they get the hours.