Glider insurance through AOPA... (USA)

On Friday, December 18, 2015 at 11:05:48 AM UTC-7, jfitch wrote:
On Wednesday, December 16, 2015 at 6:32:28 PM UTC-8, Wheaton wrote:
LL Johns also has the rental at no additional cost.

Do any of 'em cover loss of use? That seems to be one of the great big downsides of even minor outlanding damage - no glider for 6 months.

To cover "loss of use," the key is to own a second glider. Consider it just another "type" of insurance.... ;-)

Denny, Please explain, hanks

On Friday, December 18, 2015 at 5:33:57 PM UTC-8, Stephen Damon wrote:
Denny, Please explain, hanks

I checked today and I have some answers.

The coverage does include rentals up to 50k. Even if youe hull on your own glider may be a lot less, you can go to an FBO and rent a beater Grob and be covered. If you rent a new ASK 21 you will only be covered up to 50K, or the value of your hull, which ever is higher.

The underwriter is Starr Aviation, made up in part by a bunch of folks that split off from AIG. The policy is virtually the same I have been told.

BTW, it is possible that the coverage on glider rentals may extend to powered aircraft rentals. The AOPA broker is looking into that, as well as coverage options for glider schools and clubs.

The policy can be amended to allow for winter storage, like the SSA program..

I have decided to take what ammounts to a 32% saving and go with the AOPA. It is a bit of a risk, if I go back to Costello they will raise my rates 25% more than what I WAS paying under the SSA program...

On Friday, December 18, 2015 at 8:59:12 PM UTC-5, wrote:

I have decided to take what amounts to a 32% saving and go with the AOPA. ...if I go back to Costello they will raise my rates 25% more than what I WAS paying under the SSA program...

32% is huge. But is there anything that prevents a 40% premium increase in the second year? Is this a 'teaser rate'? Please report back to this thread in the coming years.

Theoretically speaking, SSA has leverage to negotiate future rate increases with the underwriter in coming years, because SSA can switch the SSA policy to a new underwriter if it is economic. So the premiums should be relatively stable for accident free customers.

I suppose that AOPA would have even more leverage with their underwriter but I understand that AOPA derives income in exchange for marketing the policy. Kinda like AAA makes money from insurance sales. Does SSA get a kickback for marketing the SSA policy?

On Saturday, December 19, 2015 at 9:46:55 AM UTC-5, son_of_flubber wrote:
On Friday, December 18, 2015 at 8:59:12 PM UTC-5, wrote:

I have decided to take what amounts to a 32% saving and go with the AOPA. ...if I go back to Costello they will raise my rates 25% more than what I WAS paying under the SSA program...

32% is huge. But is there anything that prevents a 40% premium increase in the second year? Is this a 'teaser rate'? Please report back to this thread in the coming years.

Theoretically speaking, SSA has leverage to negotiate future rate increases with the underwriter in coming years, because SSA can switch the SSA policy to a new underwriter if it is economic. So the premiums should be relatively stable for accident free customers.

I suppose that AOPA would have even more leverage with their underwriter but I understand that AOPA derives income in exchange for marketing the policy. Kinda like AAA makes money from insurance sales. Does SSA get a kickback for marketing the SSA policy?

AOPA has much bigger leverage than SSA.

I just had a broker try and find a better rate for me on my Duo. No luck. Quotes came in roughly 20% higher than Costello.

I would prefer a higher deductible than the group policy has. One complaint Costello was making at the Convention 2 years ago was that smaller claims were driving costs up and those claims tended to be avoidable. Canopies left open and slamming closed, wings dropped off riggers and such.

Seems to me that having $100 deductibles makes it more likely that someone will file a claim against a $1500 repair. I was OK with a $1000 or $2000 deductible, but that didn't help.

Comparing the quotes I got back, they were roughly equivalent to the insurance cost of a Complex airplane of the same value. Even though the cost of repair on a damaged glider is likely to be far less.

A gear up landing on a glider may cost several thousand dollars, but nothing like gear up in a power plane. No engine teardown, no prop replacement. The other underwriters just don't have any other data to go off it seems so they put gliders into the same basic expense category as power.

I may look into LL Johns next year.


On Saturday, December 19, 2015 at 9:09:15 AM UTC-8, Andrzej Kobus wrote:
On Saturday, December 19, 2015 at 9:46:55 AM UTC-5, son_of_flubber wrote:
On Friday, December 18, 2015 at 8:59:12 PM UTC-5, wrote:

I have decided to take what amounts to a 32% saving and go with the AOPA. ...if I go back to Costello they will raise my rates 25% more than what I WAS paying under the SSA program...

32% is huge. But is there anything that prevents a 40% premium increase in the second year? Is this a 'teaser rate'? Please report back to this thread in the coming years.

Theoretically speaking, SSA has leverage to negotiate future rate increases with the underwriter in coming years, because SSA can switch the SSA policy to a new underwriter if it is economic. So the premiums should be relatively stable for accident free customers.

I suppose that AOPA would have even more leverage with their underwriter but I understand that AOPA derives income in exchange for marketing the policy. Kinda like AAA makes money from insurance sales. Does SSA get a kickback for marketing the SSA policy?

AOPA has much bigger leverage than SSA.

On Friday, December 18, 2015 at 8:59:12 PM UTC-5, wrote:

BTW, it is possible that the coverage on glider rentals may extend to powered aircraft rentals. The AOPA broker is looking into that

Has anyone found a policy that favorably covers an OWNED glider and a RENTED power plane? Costello confirmed recently that the SSA policy does not cover rented POWER planes.

On Tuesday, December 15, 2015 at 5:47:09 PM UTC-5, wrote:
All;

I received a quote 20% less than what I had been paying through the SSA insurance program - Any other private owners have this happen, and did you switch?

I have no problems with my current insurance, and Starr Aviation, the underwriter for the AOPA, is new to me. Still 20% is hard to pass up.

Any comments?

aerodyne

Having actually exercised a policy with LL Johns, i couldn't be happier. They were an absolute god-send throughout the entire process, I saved a few hundred dollars over costello when i switched, and my new premium after the accident isn't anywhere outside of what i would consider fair. Absolutely love working with them. FWIW.
Chris

I have Starr, too, for my Stemme. Couldn't be happier.

On 3/24/2016 6:14 PM, Giaco wrote:
On Tuesday, December 15, 2015 at 5:47:09 PM UTC-5, wrote:
All;

I received a quote 20% less than what I had been paying through the SSA insurance program - Any other private owners have this happen, and did you switch?

I have no problems with my current insurance, and Starr Aviation, the underwriter for the AOPA, is new to me. Still 20% is hard to pass up.

Any comments?

aerodyne
Having actually exercised a policy with LL Johns, i couldn't be happier. They were an absolute god-send throughout the entire process, I saved a few hundred dollars over costello when i switched, and my new premium after the accident isn't anywhere outside of what i would consider fair. Absolutely love working with them. FWIW.
Chris

--
Dan, 5J

On Thursday, March 24, 2016 at 9:07:36 PM UTC-4, son_of_flubber wrote:

Has anyone found a policy that favorably covers an OWNED glider and a RENTED power plane?

Found the answer to my question in another thread. '...AOPA Insurance...'

On Sunday, January 17, 2016 at 9:39:33 PM UTC-5, wrote:
Just found out my new glider policy (STARR) also covers rented aircraft.