Insuring a Columbia 400 & weekend only insurance

"Gig 601XL Builder" wrDOTgiaconaATsuddenlink.net wrote in message
...
Justin, you are MXing. Everyone here has told you that you aren't going to
find a weekend only policy.

http://www.google.com/search?sourcei...raft+Insurance

Use that search and if you find one let us know.


Looking for a weekend-only policy would be similar to asking for 1/3 off
because you don't fly it while you sleep, or asking for 97% off because you
only fly it 3% of the hours available in a year.

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.

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.

--
PM instructions: caesar cipher the alpha chars in my addy (key = +3).

"Justin Gombos" wrote in message
news:UZbni.6071$225.1718@trndny03...

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.

If you say so.

On Jul 17, 11:14 am, "El Maximo" wrote:
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

Unlike automobile insurance where both your past and future
driving experience are used to determine your premium, all the forms
which I had filled for aviation insurance only asked about my past
experience.

The difference may come from the fact that driving risk
increases with amount of driving time. The more mileage you plan to
put in a year, the higher your chance of involving in automobile
accidents. Whereas in aviavtion, the more flying experience you have,
the less chance that you will have an accident. I don't have the time
to look for the statistics but I'd bet there are more occurences of
automobile accidents caused by other drivers than aviation accidents
caused by other pilots.

I think that Justin likes to argue for argument sake. I
recalled having to endure a life insurance pitch from an insurance man
years ago. It's fun to imagine that this unbearable man is now
selling aviation policies and has someone like Justin for a client ;-)

Hai Longworth