Insurance

[ShawnR]

Hi all

I am looking at buying another aircraft after not owning for a few years. I heard the pricing has gone up quite a bit. I am looking for suggestions on insurance companies/brokers. I did get one quote from magnes for a previous aircraft but need to go get another one from them for this new model. A google search leads me to the companies mostly but I think I am looking for a broker?

I am in Ontario but used a company in BC for a few years. They seemed to be growing too fast and became hard to deal with, could not find my account when I called, lost faxes, so I moved on. I am not out to bash anyone, but rather looking for positive suggestions. If you would rather pm me, that would be good too

The aircraft would be a homebuilt tail dragger, both new types for me, sort of. I only have about 10 hours tailwheel time so far.

Thanks
Shawn

[photofly]

There are only a very few underwriters who cover GA in Canada. All brokers have access to the same underwriters and will get the same market rates. Pick your broker based on their customer service; the price you'll get will be the same everywhere. Magnes and Air1 are the two I knonw.

[ShawnR]

Ah.

Thanks photofly

[fish4life]

Also I think you will have a really tough time getting insurance on a tail dragger with only 10 hours of tail wheel time fyi

[digits_]

Also I think you will have a really tough time getting insurance on a tail dragger with only 10 hours of tail wheel time fyi

Does not have to be an issue, depending on your other experience.

[photofly]

If the lack of experience on type turns out to be a problem you can ask for not-in-motion insurance only until you have 25 or 50 hours, and take the risk on yourself.

[JasonE]

Insurance won't be the issue, hull coverage will be.

[Bede]

What is the type?

[photofly]

Insurance won't be the issue, hull coverage will be.

I take it you mean liability insurance won't be the issue, hull coverage will be?

[JasonE]

I take it you mean liability insurance won't be the issue, hull coverage will be?

Correct.

[ShawnR]

Bede Van's RV4

I went through my log book, actually, 16 hours. 6+ of that instruction, the rest in my J3 when I had it. I was anxious to get it back on floats, but in hindsight, I should have logged much more while I easily could have. I sent out a couple of applications. Waiting to hear.

I might skip the hull coverage till I get enough hours. Been considering that too. If I crash it, and don't die, my wife will kill me anyways so don't really need to replace the plane in that situation...

Thanks for the input.
Cheers,
Shawn

[ShawnR]

Since I asked, I figure I would reveal what I found. Only 2 of 3 quotes back, 3200 each roughly, after taxes.

Magnes and Global. 2-5 hour instructor time needed before passengers. 60K value. It sounds about what I have been hearing from others.
Still waiting on March but their online silverwings quote yielded 1300ish (no hull coverage)

Ouch. Hopefully, it will go down after a decent amount of tail wheel flying. Will see.

Thanks for the input.

[PilotDAR]

I pay just a little less than that on my taildragger flying boat, though being an amphibian, that puts the risk back up again. In this year's market, that price seems within reason. Once you have coverage, go fly lots to get the value back out it the premium!

[ShawnR]

Once you have coverage, go fly lots to get the value back out it the premium!

True Dat PilotDAR !!



Have a good summer everyone

[digits_]

Since I asked, I figure I would reveal what I found. Only 2 of 3 quotes back, 3200 each roughly, after taxes.

Magnes and Global. 2-5 hour instructor time needed before passengers. 60K value. It sounds about what I have been hearing from others.
Still waiting on March but their online silverwings quote yielded 1300ish (no hull coverage)

Ouch. Hopefully, it will go down after a decent amount of tail wheel flying. Will see.

Thanks for the input.

Thank you for posting!

[praveen4143]

COPA has their in-house insurance run by Magnes and I’ve only heard good things about their policy. Possibly the only insurance policy that is completely open to you having people use your airplane by purchasing block time off you and fairly open and easy to satisfy policy requirements from my experience.

[PilotDAR]

Possibly the only insurance policy that is completely open to you having people use your airplane by purchasing block time off you and fairly open and easy to satisfy policy requirements

Perhaps on some types, but I doubt an RV-4, nor tailwheel types....

[digits_]

COPA has their in-house insurance run by Magnes and I’ve only heard good things about their policy. Possibly the only insurance policy that is completely open to you having people use your airplane by purchasing block time off you and fairly open and easy to satisfy policy requirements from my experience.

Marsh offers it as well nowadays as an option you can pay for. But 'open' does not always mean 'just whoever you want'. It's always good to shop around a bit. I usually ask a quote with Marsh and a local broker. It goes either way whoever is cheaper that year.