Insurance

[Admin]

Hi

 

Can anyone tell me what is a reasonable % amount of aircraft

 

value that one would pay for insurance for a Gazelle and used for

 

training and club member hire. The club has a clear record of no

 

claims. For example is 4.75% of aircraft value a good rate or just

 

average.

 

Thanks

 

 

[Guest TOSGcentral]

This is a difficult one Ian. I would have thought 4.75% would have been

 

extremely reasonable in today’s climate. But what is that for - 3rd

 

Party and/or Hull?

 

For example with my school T500s I eventually was asked for $3,500 for

 

3rd party, I could not get Ground Risks and Hull coverage was not

 

available! This took me over the top of the cost of damage likely to be

 

caused to a Thruster even in a substantial bingle, so I pulled out and

 

relied only on the group AUF/RA-Aus member cover.

 

I do not think a no claims record cuts much ice these days –

 

particularly in a club environment. The figures I have given above were

 

despite 40 years accident and claim free flying experience (including for any operation I had been directly responsible for),

 

Pilot Examiner, and being on good communication terms with the senior

 

Aussie insurance broker who was well aware of how much training system

 

development I had personally applied to ‘taming the taildraggers’!

 

The trend seems to be very anti-taildragger anyway. That does not

 

include the Gazelle of course, but could be off-set by two serious

 

first solo accidents on the type during the past couple of years –

 

which did not do a great deal for training credibility.

 

Another very important point to consider is the following: I only

 

became aware of this very late and was a significant factor in my

 

pulling out of insurance. It is there in black and white but you have

 

to read the fine print.

 

Even the simple 3rd Party covered only certificated pilots! This means

 

that as soon as you sent someone solo, up to the time they obtained

 

their certificate, the aircraft was not covered and the school was

 

liable. This is not a good situation for schools and is probably the

 

reason a great many single operator schools of excellent record ceased

 

operation.

 

Hope those views help.

 

Aye

 

Tony

 

 

[PaulN]

Hi Ian,

 

When thinking our CT would be going on-line at Polo

 

Flat I went through the exercise of hunting down insurance. I finally

 

ended up dealing with Glenn Turner of Insurance Advisernet in SA. Glenn

 

being a fellow aviator is keenly aware of our issues. It seemed to me

 

that he was putting in the hard-yards to get the best deals available

 

for aviators. He did advise that very few insurers had any interest in

 

covering aircraft and related activities (same old story, fear of the unknown). Apparently only 2 companies QBE and Vero have an interest.

 

At the time I was looking to cover the CT for a nominal amt of $95K (hull) and $1m (p/liab) for around $5500PA, thats about 5.75% insured value. This allowed for $1500 excess with some limitations imposed (if we accepted $5000 excess the premium reduced to around $4500).

 

Since the idea of going on-line fell over we opted for p/liab cover only for private use with a prem of just under $900PA.

 

Maybe

 

it was just make-you-feel-comfortable talk but Glenn reckons insurance

 

costs for aviation looked like coming down. Hmmm, that'd be a first for

 

the insurance industry, eh.

 

Glenn can be reached on 0883961369 or 0418824328 or [email protected]

 

Cheers,

 

Paul

 

PS Thanks for the GVAC article ... what's the cost of m/ship?

 

 

[Admin]

- Paul, glad the info about the GVAC Aussie Outback trip was useful,

 

see they met up with Dick Smith along the way. Apparently this is one

 

of their yearly trips always done about July. GVAC (Goulburn Valley Aero Club) m/ship cost:

 

$60 - Full M/ship

 

$40 - Student M/ship

 

$40 - Social M/ship

 

$10 - Jnr M/ship

 

 

[PaulN]

G'day Ian,

 

When we drop into Shepparton, hopefully Mon morn

 

Sep 5, if we like what we see and choose to join the GVAC, is there a

 

delay from m'ship appln to acceptance?

 

Am I likely to meet up with Nathan while there to talk more about PPL training?

 

Did you get my private email of Aug 14?

 

Cheers,

 

Paul

 

 

[Admin]

- Yeah Paul, got your email sorry I haven't replied - been so busy.

 

There isn't any delay in membership if you want to join the club at

 

Shepparton.

 

Your trip through the middle of Aussie sounds like a

 

great adventure although with some of the trips you have been doing

 

lately going by your posts here sounds like you may be waring that

 

aircraft out - make sure you take a laptop and log in here and keep us all posted with plenty of pictures along the way.

 

If

 

you can make it on the Saturday or Sunday I could catch up with you but

 

at this stage got a hectic work schedule all of a sudden so weekdays

 

are out for the next few weeks (damn work - if only I had next weeks lotto numbers ) but Nathan should be there and you know they have a bar there on Sat evenings and cooked breakfast on Sunday mornings!

 

My

 

CT is "on the water" at the moment being shipped with the boat due to

 

dock in Melb on Oct 1 and the Gazelle currently has the engine out

 

getting its 1500hrly

 

 

[PaulN]

Ian,

 

Hope we don't miss you but understand about the work

 

thing. I plan to take heaps of pics along the way and will have the

 

laptop with us but mainly for weather and flight notifications. I may

 

send some pics while en route but using dial-up while travelling I

 

might findpics a bit chunky so these may have to wait until back home

 

with broadband.

 

Wear out the CT ... I didn't think they wore out.

 

I am presently editing a heap of pics for the forum albums so will be back here soon. Is there a preferred size (pixels and kbytes) that I should make these?

 

Bet you're hanging out for that ship to dock. Have you heard from Shaun lately. How does he plan (if he has a plan) to make delivery?

 

If

 

you're in touch with Nathan please let him know that I hope to catch up

 

with him. What's the name of the c'van park next to the airfield please?

 

Cheers,

 

Paul

 

 

[Admin]

- If anyone is interested the phone no for the caravan park right

 

opposite Shepparton Airfield is 03 5823-1576 and speak to Sandy and I

 

think the rate for an on-site cabin is $55 per night but don't quote me

 

on that

 

 

[Matt]

QBE was the way to go for us. For an insured value of $125,000 we're paying 3.5% for full coverage with $1 million public liability for less than $1000. We've also just had a 10% discount for a 12 month claim free period.

 

 

[Guest Fred Bear]

Careful with your indicative pricing everyone. USUALLY, it's no less than 3.0% (for GA aircraft), PLUS around 22% in taxes and surcharges

 

For example a C172 @ $80k would be $2,928 for hull cover and around $800 - $900 for 3rd party cover for 1 mil.