Insurance - smooth limits

Paul kgyy wrote:

I'm curious how many of you owners do carry smooth limits.

I do. The only time I couldn't get it was after switching planes and
having nearly zero time in type. The follwing year everything was
back to normal. Every year my broker (Falcon. A good one!) sends me
quote for one million smooth and $100K sublimit. The smooth quote is
about 25% more, but offers a potentional injured passenger up to 10
times as much coverage. I have assets to protect, so the premium
increase is worth it for me. YMMV.

John Galban=====N4BQ (PA28-180)

Paul kgyy wrote:

I'm curious how many of you owners do carry smooth limits.

I never did.

George Patterson
There's plenty of room for all of God's creatures. Right next to the
mashed potatoes.

On 4-May-2005, "Paul kgyy" wrote:

I'm curious how many of you owners do carry smooth limits.


We carry $1M smooth liability on our Arrow IV. According to our broker, it
adds 2-3 hundred to the premium, but only one or two companies offer it.
All three partners have between 850 and 2000 hours and all are instrument
rated. Apparently, the IR is a big deal for liability premiums. On the
other hand, retractable gear, which raises hull premiums a fair bit, has
little impact if any on liability premiums. That's reasonable since gear
problems rarely cause serious injuries.

--
-Elliott Drucker

Keep in mind, also, that $1M smooth gives the ins co a lot
more incentive to defend YOU.

You want them to be very interested in this. Otherwise, they will
write the check for $100K very quickly and bow out.

You will then bear the cost of defending the rest of the story.

Bill Hale

I'm not sure what you mean by "bow out". The $100, 000 does **NOT**
include legel defense. They are responsible to reach a settlement. They
will not settle for more than the amount of your coverage, however if
you go to the end of trial and are awarded more than the $100,00 you
would be stuck with the difference.

-Robert

Maybe I'm wrong.

If you have 100K ins, they might pay the $100K happily and not defend U
at all,
since it could cost more than $100K to fight the case. You could
easily be
on the hook for anything $100k without any help.

If you have $1m ins, they will be interested in your case... they
wouldn't just
write a check for the $1m. Would be worth defending. They might reach
a settlement that would end the deal.

Seems like having them have LOTS of skin in the game is what you are
paying for. Bill

wrote:
Maybe I'm wrong.

If you have 100K ins, they might pay the $100K happily and not defend U
at all,

Only if the other passenger settles. Remember we are only talking about
passengers since the full million is available for people on the ground.

On 4 May 2005 11:05:52 -0700, "Paul kgyy" wrote:

This is a follow-up to a discussion some time back about liability
coverage, specifically about using "smooth limits", which eliminates
the typical $100,000 cap per person. I've been buying my insurance
through AOPA, and they have told me that their carriers would not offer
smooth limits on aircraft the age of my 1969 model. I just received a
fax from AOPA Insurance that they have found a carrier that will
provide this coverage. The only catch is, it doubles my premium!

I'm curious how many of you owners do carry smooth limits.

I've always carried smooth limits. At present it's $1M. I get my
insurance through Falcon. I have no idea how much more it is than
$100K/seat as I'd never consider carrying that.

My airplane is a 1965 Mooney M20E, and I am the only pilot.


Ron (EPM) (N5843Q, Mooney M20E) (CP, ASEL, ASES, IA)