Renter Insurance

"OP" wrote:
Ah, I think you may be forgetting that the insurance company has
lawyers on staff or on retainer. There is no extra cost involved
for them to pursue a law suit. As for "bad word of mouth" they
couldn't care less... all insurance companies have the same policy,
namely, recover costs and minimize losses in their quarterly report.

Ron


My only argument is experiernce in tax and accounting since 1960.
Lawyers on staff or retainer have a real cost, according to what
workoad you give them by company policy on how much potentially
wasteful activities they should pursue. And to suggest to that bad
public reputation has no effect on profits is really naive. If you
drop and break merchandise in a store, what's the better decision in
approaching that embarassed customer? That's small dollars, so that's
easy.

But airframe damage to aircraft are small dollars per incident too in
the industry, relative to the big payouts on personal injury/death
liability. The latter is so potentially deleterious to shareholder
interests, the industry has to universally lay it off with like Lloyds
of London, the "reinsurance" market under the concept of large pooling
of risk. It's actually all explained in detail in the SEC 10-K
filings of aircraft insurers, unlike the auto insurance industry where
this isn't necessary. Even there, have you ever heard of an auto
insurance company going after an uninsured motorist for the insured's
vehicle damage with litigation? Keep it real.

Fred F.

OtisWinslow wrote:
Hate to burst your bubble .. but if you bust an airplane due to negligence
the insurance company will be expecting you to reimburse them for any
claims they paid on it. (Subrogration)

If you ball up a plane due to negligence, some companies will simply refuse to
pay. There was a case in litigation about 10 years ago in this part of the
country. The pilot crashed after going below minimums on an IFR approach. The
owner's on the hook for the entire bill.

George Patterson
Why do men's hearts beat faster, knees get weak, throats become dry,
and they think irrationally when a woman wears leather clothing?
Because she smells like a new truck.

"George Patterson" wrote:
...
If you ball up a plane due to negligence, some companies will simply
refuse to
pay. There was a case in litigation about 10 years ago in this part
of the
country. The pilot crashed after going below minimums on an IFR
approach. The
owner's on the hook for the entire bill.


Maybe that's why price-shopping can be bad. My policy is a
plain-language policy, "no fault" in bold print. Paraphrased, "We
will [in bold] pay you for loss, except under the following
circumstances: A)....B)..." Pilot error is not listed, but rather
gov't seizure, breakdown, theft by your trusted A&P, nuclear
holocaust, ....

Fred F.

On Wed, 13 Jul 2005 18:08:16 GMT, George Patterson
wrote:

OtisWinslow wrote:
Hate to burst your bubble .. but if you bust an airplane due to negligence
the insurance company will be expecting you to reimburse them for any
claims they paid on it. (Subrogration)

If you ball up a plane due to negligence, some companies will simply refuse to
pay. There was a case in litigation about 10 years ago in this part of the
country. The pilot crashed after going below minimums on an IFR approach. The
owner's on the hook for the entire bill.

Do you have a link or additional details? Sounds like an interesting
case?

I would expect insurance to pay in this type of accident, unless it
could be proven that the pilot knowingly and intentionally went below
minimums.

-Nathan

Nathan Young wrote:

Do you have a link or additional details? Sounds like an interesting
case?

No. The case was mentioned in a safety meeting about ten years ago. The speaker
was Inspector Ryan of the Allentown, Pennsylvania FSDO.


I would expect insurance to pay in this type of accident, unless it
could be proven that the pilot knowingly and intentionally went below
minimums.

Don't know about "proven", but the insurance company claimed the pilot did
exactly that. Sorta hard for a pilot to claim otherwise when a radar track and
ATC tape is available. The aircraft was worth something like 1.5 million, and
I'm sure that's a factor in the situation.

George Patterson
Why do men's hearts beat faster, knees get weak, throats become dry,
and they think irrationally when a woman wears leather clothing?
Because she smells like a new truck.

They're about the same, for the same coverage, so I stick with my
current insurer since I get a 10 percent discount if I pay when
invoiced instead of waiting till the effective date. I pay about $600
for $40K hull insurance and $1 million liability, the most I can get.

On Tue, 12 Jul 2005 16:02:00 -0400, "W P Dixon"
wrote:

Ok Gang!
Who has the best rates for renter's insurance? I need 25,000 hull
liability, and pretty much basic injury and such. And a second question, do
any aircraft insurance companies allow payments like car insurance companies
do? Avemco's rate is $390/year, which is not bad, but they want it all up
front...which means I could not use the insurance because I couldn't afford
to fly for a few months! Kinda defeats the purpose doesn't it!!?

Patrick
student SPL
aircraft structural mech


-- all the best, Dan Ford

email (put Cubdriver in subject line)

Warbird's Forum: www.warbirdforum.com
Piper Cub Forum: www.pipercubforum.com
the blog: www.danford.net
In Search of Lost Time: www.readingproust.com

Cub Driver wrote:


They're about the same, for the same coverage, so I stick with my
current insurer since I get a 10 percent discount if I pay when
invoiced instead of waiting till the effective date. I pay about $600
for $40K hull insurance and $1 million liability, the most I can get.

On Tue, 12 Jul 2005 16:02:00 -0400, "W P Dixon"
wrote:

Ok Gang!
Who has the best rates for renter's insurance? I need 25,000 hull
liability, and pretty much basic injury and such. And a second question,
do any aircraft insurance companies allow payments like car insurance
companies do? Avemco's rate is $390/year, which is not bad, but they want
it all up front...which means I could not use the insurance because I
couldn't afford to fly for a few months! Kinda defeats the purpose
doesn't it!!?

Patrick
student SPL
aircraft structural mech


-- all the best, Dan Ford


Dan,

If you don't mind my asking:

Did you go with the company that the Hampton people recommended?


--
Saville

Replicas of 15th-19th century nautical navigational instruments:

http://home.comcast.net/~saville/backstaffhome.html

Restoration of my 82 year old Herreshoff S-Boat sailboat:

http://home.comcast.net/~saville/SBOATrestore.htm

Steambending FAQ with photos:

http://home.comcast.net/~saville/Steambend.htm

On Wed, 13 Jul 2005 17:45:46 -0400, gregg wrote:

Did you go with the company that the Hampton people recommended?

They didn't recommend one, that I know of. I use AIG. I checked their
quote against AOPA (possibly they use AIG also?) and it was identical,
except that by renewing my current policy I saved 10 percent, so I
stayed with the same broker (in Maine).


-- all the best, Dan Ford

email (put Cubdriver in subject line)

Warbird's Forum: www.warbirdforum.com
Piper Cub Forum: www.pipercubforum.com
the blog: www.danford.net
In Search of Lost Time: www.readingproust.com

Cub Driver wrote:

They didn't recommend one, that I know of. I use AIG. I checked their
quote against AOPA (possibly they use AIG also?)

I believe they do not. When I had the Maule, it was insured with AIG. AOPA was
higher, and they told me that they could not compete with AIG for policies on
Maules.

George Patterson
Why do men's hearts beat faster, knees get weak, throats become dry,
and they think irrationally when a woman wears leather clothing?
Because she smells like a new truck.

"George Patterson" wrote in message
news:dYEBe.5997$Om4.4130@trndny07...
Cub Driver wrote:

They didn't recommend one, that I know of. I use AIG. I checked their
quote against AOPA (possibly they use AIG also?)

I believe they do not. When I had the Maule, it was insured with AIG. AOPA
was higher, and they told me that they could not compete with AIG for
policies on Maules.

My current renter's policy, obtained through AOPA, is issued by AIG. (But I
don't know whether AOPA uses AIG for owner's policies too.)

--Gary