It' not what you have in it, but what it would cost to replace it.
?
This is a question for an insurance broker. Remember that the broker is supposed to work for you. There are several well-recommended brokers discussed in past posts. I use Jenny/Leah at Gallagher Agency (they advertise in the VAF side-bars), am happy with their work, and recommend them. The call is free.
Who is your broker if you don't mind sharing?After discussing this issue with my broker at renewal time, we agreed that a fair value for my -7 was equal to what I'd be willing to sell it for.
For first flight we started out with the amount I estimated I had in the airplane. The next year we upped that value to a fair resale amount. The added premium cost was negligible.
I feel like I could ruffle some feathers here, but I've been amazed at how reasonable my insurance has been considering my (low) TT and tailwheel experience.
Million $ liability.
This is a question for an insurance broker. Remember that the broker is supposed to work for you. There are several well-recommended brokers discussed in past posts. I use Jenny/Leah at Gallagher Agency (they advertise in the VAF side-bars), am happy with their work, and recommend them. The call is free.
Bob,
Can you give me the contact info for the right person to contact at Gallager? They are not showing up in my sidebar.
Thanks!
Nick
I’d bet that you really only have $100K-$200K coverage where most of the risk is - in the passenger seat.
I am starting to believe more and more that there's no way I could replace my -7A for $100K, especially with engine prices skyrocketing in the past few years, so I will probably crank that value up a bit, too.
The point being? If someone is going to sue they won't stop at a million.