Aircraft insurance

[David F]

My renewal has just been delivered and it is a bit steep.Does anyone know of developments with RAA regarding insurance?Any reccomendations?

 

Dave

 

 

[Galpin]

Dave, what does "a bit steep" mean? Can you give a ball-park figure we should consider? I am aware of some RAA members who do not insure their aircraft because they consider $3000 plus to be "too steep."

 

 

[David F]

Hi Galpin

 

Comes in at $2400 for flight taxi and ground cover worth $60000

 

I only asked as I have heard that the RAA were organising a blanket policy which should be cheaper.I am with a large company who have a good reputation when it comes to claims.I have not had a claim and it is the third year of bieng insured.

 

Dave

 

 

[Guest watto]

Give these guys a call as they have pleasantly surprised me!

 

 

 

 

 

 

Aaron Stephenson

 

 

 

Phone: (02) 9466 0080

 

Direct: (02) 9466 0018

 

Fax: (02) 9466 0070

 

Mobile: (0417) 29 2209

 

Email [email protected]

 

Postal Address: GPO BOX 3595 SYDNEY NSW 2001

 

 

[Guest Brett Campany]

Also try Tim Kelly

 

Tim Kelly

 

Broking Assistant

 

Direct: (02) 9466 0001

 

FAX: (02) 9466 0070

 

Email [email protected]

 

Tell him I sent ya and he'll look after you.

 

 

[Guest basscheffers]

Does the quote incluce 3rd party and passenger? RA-Aus has that already. If those limits are high enough for your needs ($1M and $250k I believe) all you need from your insurance company is hull insurance. With only experienced named pilots and no claims history, I don't see why that should be much more than 2.5% plus stamp duty and GST.

 

 

[Guest Maj Millard]

I'm paying $2400 a year for $65,000 insured with a reputable company. I went with them because I had spoke with others who had had a major claim with them, and they said they paid up no problem.

 

I would be wary of the new kid on the block, no matter how good they say they are, or who they are aligned with (Raa). You only find out how good your insurance company is, when you have a major claim. I want the biggest company with the longest track record in the industry. The company I am with was also one of the first, and have been one of the longest supporters of UL insurance, over the years.

 

Loyality to our sport sits right with me, so I support them..............................

 

 

[frank marriott]

I'm paying $3.000 for $100,000 - sounds like a ball park figure.. ? any comments?

 

 

[Guest Maj Millard]

That don't sound too bad to me Frank..........................................................

 

 

[Guest check-in]

$1870 for $40,000 hull cover plus $2 million passenger cover with $1000 excess.

 

Almost double what my boat costs to insure for about the same value and liability.

 

But the boat has sails, so an engine failure is unlikely to result in damage. And the boat engine is a Japanese diesel so far less likely to fail anyway.

 

While it seems steep, on balance of risk to the insurer, I suppose it's par with a flash sports car.

 

 

[Guest Maj Millard]

I think it's got a lot cheaper than it used to be, and there was a time when it looked like you wern't going to get any at all. I would like to see the Raa support the company that has been behind us all the way, instead of some new mob that nobody has heard of before............................................................................

 

 

[Guest basscheffers]

I don't think you need to worry about "the new mob". As far as I am aware, there are only three underwriters in Aus that do RA-Aus planes: Vero, Alianz and QBE.

 

Three is a good sustainable amount of players offering just enough competition to lower prices. So go to a broker, get them to get quotes from all of them and go with the best deal!

 

Also make sure your broker is experienced with RA-Aus as they can write the proposal to take the insurance we already have into account.

 

 

[David F]

Got It sorted

 

premium is 3% hull value then extra for liability and passenger + stamp duty and GST decieded to keep the extra cover for passenger as RAA is only up to 250 k.Will review the situation next year.Thanks for your input.

 

Dave

 

 

[HEON]

Correct statement that it is comming down as my August renewal was less dispite a claim last year.