VansAirForceForums  
Home > VansAirForceForums

-POSTING RULES
-Advertise in here!
- Today's Posts | Insert Pics

Keep VAF Going
Donate methods

Point your
camera app here
to donate fast.

  #1  
Old 01-28-2021, 09:56 PM
Don Patrick's Avatar
Don Patrick Don Patrick is offline
 
Join Date: Feb 2010
Location: GTA, Ontario
Posts: 856
Default Canadian Insurance info

Got this from our local COPA chapter tonight. Might also be a good comparison for US insurance rates.

DATE: Thursday February 4, 2021

TIME: 19:30

TOPIC: Insurance

Belinda Bryce, Executive Vice President of Magnes Group Inc. will discuss the current aviation insurance market, the COPA VIP Insurance program, offer tips for aging pilots to remain insurable and answer questions.

Pilots, tower staff, COPA members and aviation enthusiasts are all welcome to attend.

ZOOM MEETING INVITATION
Registration in advance is required for this meeting.

Click to register:
https://zoom.us/meeting/register/tJ0...3LU8bpbCUF1TIb

Shortly after registering, you will receive a confirmation email from Zoom containing information about joining the meeting.
If you do not receive this email from no-reply@zoom.us within an hour, please check your spam folder, or try registering again.
Reply With Quote
  #2  
Old 01-29-2021, 06:27 AM
FLY6 FLY6 is offline
 
Join Date: May 2010
Location: Burlington On. Ca
Posts: 154
Default Thanks

Thanks Don for the heads up, any info on keeping insurance down is helpful
__________________
Al Grant
Flying RV6, O-320, 160hp
Burlington, On
Dues Paid
Reply With Quote
  #3  
Old 01-29-2021, 06:28 AM
David Z David Z is offline
 
Join Date: Aug 2010
Location: Thunder Bay Ontario
Posts: 569
Default Thanks

That's great, thank-you.

All the recent talk of insurance rate increases has me worried about my project. The money that goes to insurance is money that doesn't go into avgas and building proficiency. We all get better with practice, but if insurance costs mean we can't practice as frequently, the risk goes up.

With buckets of total time and an ATPL, but maybe 4 hours of tailwheel time, it's that second part that concerns me most.
__________________
RV8
Empennage Passed Pre-close Inspection
Wings mostly done
Fuselage started
83126
Dash 8 day job is financing the RV8
Donation till September 2021
Reply With Quote
  #4  
Old 01-29-2021, 07:57 AM
Snowflake's Avatar
Snowflake Snowflake is offline
 
Join Date: Oct 2009
Location: Sidney, BC, Canada
Posts: 4,118
Default

Might want to clarify the time zone you're in, a 1930h start in Ontario means a 1630h start in BC... Like most of COPA's zoom meetings, i'd have to take time off work to attend. When this was brought to their attention and suggested starting later or on a Saturday morning instead, their answer was that their staff would have to stay late or work on a weekend if they made it accessible to those of us on the west coast.

Maybe ask them why Magnes' insurance is so much more expensive than others... Shouldn't COPA members get a discount by aggregating all of the members with one provider?
__________________
Rob Prior
1996 RV-6 "Tweety" C-FRBP (formerly N196RV)
Reply With Quote
  #5  
Old 02-01-2021, 05:52 PM
Canadian_JOY Canadian_JOY is offline
 
Join Date: Aug 2007
Location: Ontario, Canada
Posts: 2,388
Default

Rob - I recently renewed insurance on my two aircraft. I am a member of both COPA and EAA so used both of those member benefit insurance programs. In fact I previously was with EAA's CPLAN insurance which is underwritten by Global Aerospace and, as the incumbent, I assumed their quote would be the quote to beat.

Boy, was I wrong!

At the end of the day I ended up going with COPA/Magnes which is underwritten by AIG.

What I learned during this year's renewal process is that Global Aerospace does not want to play ball at all with respect to pricing competitiveness. The mandate from their head office (not in Canada by the way) is to hold to the corporate directive for revenue. I gave CPLAN/Global every opportunity to compete and in fact gave them the advantage. At the end of the day their price was $1000 higher than COPA/Magnes/AIG for identical coverage.

I also sought quotes through other, independent insurance brokers. Both of them brought me quotes which were much more competitive price-wise, or at least they appeared to be until one started looking at coverage limits. One came in at about $2.2K less than COPA but had liability limits which were totally unacceptable and virtually worthless to me in the case of actually having an incident triggering a liability claim. In short, they wanted to sell me insurance that really wasn't insurance at all.

In an interesting twist, EAA's broker, Nacora, asked AIG to quote both my aircraft. AIG came back with good numbers on the newer airplane but declined to quote on the older one. When COPA/Magnes asked AIG to quote, the power of the COPA program came to light as AIG quoted both aircraft to Magnes under the auspices of the COPA program.

So, with all that said and done, COPA wasn't the most expensive option for me this year. I'm happy to report the thousand bucks I didn't spend on insurance has already been blown on avgas! :-)
Reply With Quote
  #6  
Old 02-01-2021, 09:15 PM
Champ's Avatar
Champ Champ is offline
 
Join Date: Apr 2012
Location: Kingsville, Ontario, Canada
Posts: 318
Default

Iíve tried to get quotes from EAA/CPLAN/Nacora two or three times. They said they would quote but never came thru. Didnít even bother to call back when the quote was due. Terrible service!
__________________
Dennis Enns
Bellanca Champ 7ACA since 1986, restored 1990.
RV-8 IO375, Hartzell CS, dual PMags, OW Award Oshkosh 2017
2021 Donation In
Reply With Quote
  #7  
Old 02-02-2021, 07:38 AM
Snowflake's Avatar
Snowflake Snowflake is offline
 
Join Date: Oct 2009
Location: Sidney, BC, Canada
Posts: 4,118
Default

Quote:
Originally Posted by Canadian_JOY View Post
I also sought quotes through other, independent insurance brokers. Both of them brought me quotes which were much more competitive price-wise, or at least they appeared to be until one started looking at coverage limits. One came in at about $2.2K less than COPA but had liability limits which were totally unacceptable and virtually worthless to me in the case of actually having an incident triggering a liability claim. In short, they wanted to sell me insurance that really wasn't insurance at all.
Next year, get a quote from Marsh (www.marshwings.com). They were $600 cheaper than Magnes for me, with the same coverages as far as I could find in both policies. Full hull-in-motion, $3M liability.
__________________
Rob Prior
1996 RV-6 "Tweety" C-FRBP (formerly N196RV)
Reply With Quote
  #8  
Old 02-09-2021, 06:25 AM
Mtherr Mtherr is offline
 
Join Date: Nov 2020
Location: Montrťal, Canada
Posts: 42
Default

Same experience as Rob. Marsh is much cheaper and provided the quotation within 24 hours. That was in response to 49% increase over three years with Copa/Magnes/AIG. I am now with Marsh.
__________________
Michel Therrien
New owner of RV6A "Second Wind" C-GERZ (born N242UL)
O-360 A1A, Sensenich FP prop
Reply With Quote
  #9  
Old 02-09-2021, 08:57 AM
RickWoodall's Avatar
RickWoodall RickWoodall is offline
 
Join Date: Jan 2007
Location: Ontario Canada
Posts: 1,463
Default Thanks

Timely link Thanks Been unhappy with EAA plan for last few years. Moving on, did quote and paid all online in 10 minutes. Whoot whoot
Cheers R
__________________
Rick Woodall C-GSTT "ghost"
9a -TMX io-320, catto three blade, dual dynon hdx with a/p. 900+ hrs in 8 yrs flying.

Flew to Osh 11,12,15,17,19. SNF 2013. West to Cali /Washington/Vancouver/crossed the Rockies north to Red Deer east to Moosonee and over to maritimes. South to Jekyll Isl, cedar key, and Key West etc. 6 trips and 17 islands of the Bahamas. Flown turtles and dogs for Pilots n Paws too. Love our Rv's
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -6. The time now is 10:37 AM.


The VAFForums come to you courtesy Delta Romeo, LLC. By viewing and participating in them you agree to build your plane using standardized methods and practices and to fly it safely and in accordance with the laws governing the country you are located in.