Insurance time, - options for Canadians???

flyboy1963 · #1 04-09-2009, 03:24 PM

currently insured with AIM thru Park aviation in BC, about $3600/yr for 'full' coverage. Ouch.
Copa / Marsh was about the same, but didn't cover my recurrency training and additional pilots etc.
apparently the nice US insurers who would sell me the same coverage for half the cost, can't do business in Canada. Looks like some competition is sorely needed.
Currently my insurance costs me about $200/hr....makes avgas look free by comparison!

lorne green · #2 04-09-2009, 04:22 PM

You should fly twice as much, then your insurance would only cost a hundred dollars an hour

Bevan · #3 04-09-2009, 09:32 PM

Are your rates high because they consider you "high risk"? If so, do you know why? When things are too expensive (in the opinion of the consumer) then don't buy it. That's how the market gets to have it's say. Perhaps consider only liability coverage until your risk component comes down. (assuming that's why it's high) Would you fly any differently if you had no hull coverage? If you had a claim on the hull, would you rebuild it yourself or have it done by others, or be satisfied buying an flying airplane from the market? The reason why I ask is that many of us build because we want to do it ourselves. It's a personal "custom" thing. How can you insure that product? I've never heard of rates so high for an RV and consider it too high as well. 1/2 that would be reasonable.

Bevan
RV7A wiring

SMO · #4 04-09-2009, 10:26 PM

Quotes from last year year, new tail wheel pilot in my -4, insurance with hull ($45k) was $2666 from Park, Marsh/COPA was $2101 including premises insurance.

This year I went with Marsh/COPA for liability and premises only.

flyboy1963 · #5 04-11-2009, 09:41 PM

Bevan,
I'm sure I was 'high-risk' as I was having an instructor do my recurrency training on my plane....and hadn't flown for 20 years etc.
that's not going to change until I have 50 or 100 hours, unfortunately.

keep on wirin'!

flyboy1963 · #6 04-11-2009, 09:46 PM

Mark,
I tried about a dozen options for coverage with Marsh also, oddly they don't care about tailwheels, which I found very strange.
I'm insuring for $90,000, which is the current replacement cost for my simple VFR bird, so obviously that's double what you are insuring for.
At this time, I want to walk away with something should I leave a big pile of aluminum somewhere, rather than be out a hundred grand.
kinda why I have house insurance, even if the bank didn't make me.
(A friend pays a similar amount to cover his BMW M6..parked in his locked garage 99% of the time!)