Michael,
25% increase is a bitter pill to swallow however in my experience, (not
Europas) the insurance is calculated as 5% of the insured value. Hence on a
42,000 aircraft 2100. I therefore wonder if it was low before and now it
is about right?
One point I have always worked on is this. The odds of a total loss are
lower than the odds of accident damage repair. Hence hypothetically if you
were to insure the plane for 30,000 you could save yourself 25% off the
premium. If you did 20,000 of damage you would still get it repaired under
the insurance but of course more importantly you still have 3rd party
liability etc. The downside is if you have a total loss you will be out of
pocket.
I met on Europa owner who insured his aircraft for far more than its value
and although he values the aircraft at what it cost to build I am afraid
there are plenty out there for sale at much less.
Im not suggesting anyone should under insure but I don't see any benefit of
over insuring.
Cheers
Kevin
----- Original Message -----
From: "Michael Dawson" <mtd@ilkley.fsbusiness.co.uk>
Subject: Insurance.
I have just got the re-newal notice on my tri-gear - horrors - it has gone
up by 25% to 2274 - ( 42K value - its a 412 VP prop )
Are we all facing increases like this, one assumes because of Sept 11th, or
are we crashing more Europas - anyone paying significantly less than this on
a recent renewal basis ?
Michael Dawson G-PEGY.
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