On 2007-07-17, El Maximo wrote:
"Gig 601XL Builder" wrDOTgiaconaATsuddenlink.net wrote in message
...

Looking for a weekend-only policy would be similar to asking for 1/3
off because you don't fly it while you sleep,

Even the most extreme pilots who are in the air the most are not PIC
during their sleep, which means the annual policy /assumes/ this in
their figures. For an insurer to quote an hourly rate on the same
group, the risk per unit time would increase, saving the insured
nothing. So no, it wouldn't even be close to the same thing in the
case of weekend pilots getting a policy that accurately reflects their
risk.

Some motorcycle policies in cold climate areas cover the full year,
but the risk assessment expects riders to only ride in
spring/summer/fall. Asking for the pro rata share of winter to be
knocked off the premium would actually make the net risk much higher
than the cost of it. What's interesting is that bikers will sometimes
attach a sidecar just for the winter (usually biker cops), and
leverage the insurance during the period it wasn't intended. If that
activity were to become popular enough, it would have the long term
effect of costing those who winterize their bikes.

or asking for 97% off because you only fly it 3% of the hours
available in a year.

If some pilots were managing to use 100% of the available hours while
others were using 3%, and the risk assessment did not accurately
account for that difference, then you would have a usable analogy in
this case.

The insurance companies are in it for the money. They figure out
your likelihood of a claim based on your past. I doubt they will pay
an underwriter and actuary to calculate the chances of you having an
accident only on a weekend, just because you want to save a few
bucks.

Bingo. Exactly. Good point. They have an obligation to the
stockholders / owners to maximize profit (rightly so). So it's not in
their interest reduce profit margin to needlessly undercut what little
competition there is.

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