"Justin Gombos" wrote in message
news:RJDli.7129$CJ4.6231@trndny08...
On 2007-07-13, Matt Barrow wrote:

I'm not sure I understand how an insurer would even know how many
hours a pilot is flying for the current policy year.

They ask you (and it's essentially an affirmation under oath...plus
they MAY ask for your logs)

How often do they collect that information? I would expect them to do
that upon establishing or renewing a policy, but mid-term?

Typically, on renewal (annually). If you were originally claiming 50 hours a
year, and somehow managed to put in 250 hours, you could call your broker
and have him update/modify the policy.

If you
reveal in the middle of a policy year that you have not logged any
hours, do the rates increase?

Not in the middle of the year, but possibly on annual renewal. If your hours
are in the "minimum" category, there's little room to move DOWN.



I can see how an insurer would value air time logged in the *past*
(which I assume is already factored into the rate quote for the
following term). Do pilots update their insurers mid-term to get
mid-term rate reductions?

Experience.

You're way out of your element here and setting yourself up for a
thumpin'.

Whatever concept I'm missing, feel free to explain it to me like I'm a
two year old. I'm a noob. Give me whatever thumpin' I need to
understand you. AFAIK, my knee-jerk analysis of it tells me only
logged airtime in the past can work to reduce my insurance bill.

That's already been explained to you.

As for the two year-old noob, you apparently have a hard time grasping the
reality of how these things work. Did you read the PDF from Columbia about
insurance?

I see hours/days in the future as risk, and I'm surprised to hear that
an insurance company would not hold the same view.

Why don't you call an insurance broker and he will offer you good advice.

Since there's a good probability he'll make money, he'll be more than happy
to spend hours explaining things to you than most people that have bought
car insurance have already figured out at the fundamental level. As
mentioned, these points have already been explained. Deal with it.