SkyWolverines.com :: View topic - Questions about insurance

elwood wrote:

I think that the biggest issue with the home builders is to have an affodable liability program to satisfy airports and such, most home builders will not require hull insurance. Myself like most would have no interest in paying thousands of dollars a year for a machine in premiums, for something that we can rebuild for a few thousand.

Not like the euro tub guys that need it more because of the high cost of the machine.

The USUA used to have an insurance program for ultralights and trikes that was only a few hundred a year.
But they exclude gyroplanes.
http://www.firstflightinsurance.com/Sit ... sports.asp

MadMuz wrote:

Ok, I see what you mean... yeah, here in Oz, licenced pilots in registered machines have a $1mil insurance as part of our ASRA membership.... so we are covered for that sort of accident :like

MadMuz wrote:

I think for a single place machine the insurance component is about $Au88.... I pay $Au206.00 a year all up for ASRA membership including the insurance component.... That is for a single place pilot. I think it is about $Au320.00 for a 2 seat pilot... just thunk you might be interested :laughing

MadMuz wrote:

Last time we did the magazine posting, there was about 450 mags sent out, some are to libraries and overseas members and other non actual members such as the ultralight aircraft clubs etc... so I would say we have 425 active members or so. You have to remember our population is 22 million, compared to your 300 million plus :pop

If you want to communicate with any big wigs from ASRA, let me know, I can give you their details so yo can ask how they did it.... do it :like

Author:	ALL IN [ Fri Jul 08, 2016 9:56 am ]
Post subject:	Questions about insurance
I've made an appointment with Falcon Insurance at the AirVenture = Oshkosh this year to pursue PRA's group insurance program. If you have any questions you would like answered please post them here and will take them with me and get them answered and report back here.

Author:	elwood [ Fri Jul 08, 2016 1:56 pm ]
Post subject:	Re: Questions about insurance
I think that the biggest issue with the home builders is to have an affodable liability program to satisfy airports and such, most home builders will not require hull insurance. Myself like most would have no interest in paying thousands of dollars a year for a machine in premiums, for something that we can rebuild for a few thousand. Not like the euro tub guys that need it more because of the high cost of the machine. The USUA used to have an insurance program for ultralights and trikes that was only a few hundred a year. But they exclude gyroplanes. http://www.firstflightinsurance.com/Sit ... sports.asp

Author:	MadMuz [ Fri Jul 08, 2016 5:00 pm ]
Post subject:	Re: Questions about insurance
Yeah Scott, in a basic machine, if you tip it over, it will cost a set of rotors, a head bearing, a new prop and other than that just some alloy and lots of time. If there was a basic policy that wold let you buy those bits that cost about $4 - 5k and only cost about $200 - $300 a year, I think lots of people would take them up on it. Obviously if someone claimed on it, that persons premium would go up. And if a person claimed multiple times in a short period, the company could decline to reinsure. But for people who fly and ground handle safely, it would just be a good layer of protection in case that one in a million lapse of judgement or real freak wind were to push you over.... at least you could get the big bits purchased while you fix the little time consuming things I watched a guy at lake George get up on one wheel and smack the rotors into the dirt... the usual scimitar shaped rotors and prop strike and he dropped back onto 3 wheels.... but straight away he was looking at $5k and it didn't even go on its side You could ask them if something like that was possible John? And if someone really stuffs up, and buries it in a paddock, it would almost cover the funeral

Author:	elwood [ Fri Jul 08, 2016 5:13 pm ]
Post subject:	Re: Questions about insurance
The big thing Muz, is the liability for airport owners, Lets say someone hand props a gyro and it takes off at max speed with no one on it and goes right into the corporate hangar and t-bones a Cessna citation, at least that would be covered, forget about the gyro. Or like at Mentone a few years ago when a guy lost control and wiped out 3 other gyros on the flightline. But none of us stick built flyers is going to pay $2000-$5000 a year.......for a machine we built for $10k.

Author:	MadMuz [ Fri Jul 08, 2016 5:31 pm ]
Post subject:	Re: Questions about insurance
Ok, I see what you mean... yeah, here in Oz, licenced pilots in registered machines have a $1mil insurance as part of our ASRA membership.... so we are covered for that sort of accident

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Author:	elwood [ Fri Jul 08, 2016 5:43 pm ]
Post subject:	Re: Questions about insurance
here we are just outlaws.....

Author:	ALL IN [ Sat Jul 09, 2016 1:52 am ]
Post subject:	Re: Questions about insurance
elwood wrote: I think that the biggest issue with the home builders is to have an affodable liability program to satisfy airports and such, most home builders will not require hull insurance. Myself like most would have no interest in paying thousands of dollars a year for a machine in premiums, for something that we can rebuild for a few thousand. Not like the euro tub guys that need it more because of the high cost of the machine. The USUA used to have an insurance program for ultralights and trikes that was only a few hundred a year. But they exclude gyroplanes. http://www.firstflightinsurance.com/Sit ... sports.asp Hi Scott You are correct there are now two categories of gyroplanes, the original Bensens type and US kits stored in hangers and the 80K to 150K plastic euro gyro's. PRA recognizes this and is working on two solutions. Our first solution is a liability ONLY program and the cost is $1,000 a year for signal place and $1,500 for two place machines. The 2nd solution is geared more towards the euro gyro where the bank and some owners wants them insured because of the high purchase price and for the bank loan if any. For these they need comprehensive insurance too and that the program I'm working on to reduce the cost as it is so much more expensive than for my fixed wing.

Author:	ALL IN [ Sat Jul 09, 2016 1:54 am ]
Post subject:	Re: Questions about insurance
MadMuz wrote: Ok, I see what you mean... yeah, here in Oz, licenced pilots in registered machines have a $1mil insurance as part of our ASRA membership.... so we are covered for that sort of accident That is the 1st program that PRA has now but I'm trying to lower the cost of that one too.

Author:	MadMuz [ Sat Jul 09, 2016 3:25 pm ]
Post subject:	Re: Questions about insurance
I think for a single place machine the insurance component is about $Au88.... I pay $Au206.00 a year all up for ASRA membership including the insurance component.... That is for a single place pilot. I think it is about $Au320.00 for a 2 seat pilot... just thunk you might be interested

Author:	ALL IN [ Sat Jul 09, 2016 4:47 pm ]
Post subject:	Re: Questions about insurance
MadMuz wrote: I think for a single place machine the insurance component is about $Au88.... I pay $Au206.00 a year all up for ASRA membership including the insurance component.... That is for a single place pilot. I think it is about $Au320.00 for a 2 seat pilot... just thunk you might be interested That is exactly the information I need to show the US insurance companies and ask why so cheap. Do you know how many members are in ASRA as the total # of insured is one factor in them reducing the rates.

Author:	MadMuz [ Sun Jul 10, 2016 6:21 am ]
Post subject:	Re: Questions about insurance
Last time we did the magazine posting, there was about 450 mags sent out, some are to libraries and overseas members and other non actual members such as the ultralight aircraft clubs etc... so I would say we have 425 active members or so. You have to remember our population is 22 million, compared to your 300 million plus If you want to communicate with any big wigs from ASRA, let me know, I can give you their details so yo can ask how they did it.... do it

Author:	ALL IN [ Sun Jul 10, 2016 11:38 am ]
Post subject:	Re: Questions about insurance
MadMuz wrote: Last time we did the magazine posting, there was about 450 mags sent out, some are to libraries and overseas members and other non actual members such as the ultralight aircraft clubs etc... so I would say we have 425 active members or so. You have to remember our population is 22 million, compared to your 300 million plus If you want to communicate with any big wigs from ASRA, let me know, I can give you their details so yo can ask how they did it.... do it Muz that would ROCK! I'd like to contact them and learn the ins company that will do it for that price and approach them to do the same for PRA.

Author:	MadMuz [ Sun Jul 10, 2016 12:04 pm ]
Post subject:	Re: Questions about insurance
I will pm them to you later... it is 2 am again (DoH!!) so I am going to bed I need my beauty sleep... almost as much as Gabs does

Author:	ALL IN [ Mon Jul 11, 2016 9:33 pm ]
Post subject:	Re: Questions about insurance
How do you see your PM's on this forum?

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Author:	kmethvin [ Mon Jul 11, 2016 10:55 pm ]
Post subject:	Re: Questions about insurance
Very top of the page under logo.

Author:	ALL IN [ Tue Jul 12, 2016 3:03 am ]
Post subject:	Re: Questions about insurance
Thank you Murray!!!!