Insuring a Columbia 400 & weekend only insurance

"Justin Gombos" wrote in message
news:Bgzli.7101$CJ4.6431@trndny08...
On 2007-07-12, Matt Barrow wrote:

Do you understand why pilots that fly a lot of hours ( 250 hrs /
year) have greatly reduced insurance rates?

I'm not sure I understand how an insurer would even know how many
hours a pilot is flying for the current policy year.

They ask you (and it's essentially an affirmation under oath...plus they MAY
ask for your logs)

I can see how an
insurer would value air time logged in the *past* (which I assume is
already factored into the rate quote for the following term). Do
pilots update their insurers mid-term to get mid-term rate reductions?

Experience.

You're way out of your element here and setting yourself up for a thumpin'.

"Matt Barrow" wrote

You're way out of your element here and setting yourself up for a thumpin'.

I'm beginning to think that we have a troll, or someone that who has MXS as a
hero.
--
Jim in NC

On 2007-07-13, Morgans wrote:
o9090

Cirrus is getting the reputation that the V tail Bonanza used to
have, and that is of a "Doctor Killer."

Good to know.. that's kind of eye opening for me. I never would have
figured a single engine piston aircraft would get that sort of
reputation for delivering more speed or complexity. I figured it was
just the multi-engines that were notorious for killing doctors.

That is the general name given an airplane that attracts people that
have the desire (and the money) to get into an airplane that is too
fast and too complex for their level of experience, and end up
killing themselves.

I don't think twice about hoppin' on a GSX-R 1000, so speed will
certainly bait me. Though initially I was only looking at the
Columbia for the side stick.

I question if it is for you, though, because of the money. (you seem
to not have enough of it, if you are trying to save on insurance by
only buying for 3 days of the week)

I haven't decided yet whether or not to blow a large chunk of what I
have on it, or to be frugal. A Columbia will take a lot out me,
particularly if insurance is 5 figures/year. Renting is the better
value, but it's not viable where I am. And from what I've seen in
other cities, the rental industry isn't exactly teeming with options.

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

On 2007-07-13, Matt Barrow wrote:

I'm not sure I understand how an insurer would even know how many
hours a pilot is flying for the current policy year.

They ask you (and it's essentially an affirmation under oath...plus
they MAY ask for your logs)

How often do they collect that information? I would expect them to do
that upon establishing or renewing a policy, but mid-term? If you
reveal in the middle of a policy year that you have not logged any
hours, do the rates increase?

I can see how an insurer would value air time logged in the *past*
(which I assume is already factored into the rate quote for the
following term). Do pilots update their insurers mid-term to get
mid-term rate reductions?

Experience.

You're way out of your element here and setting yourself up for a
thumpin'.

Whatever concept I'm missing, feel free to explain it to me like I'm a
two year old. I'm a noob. Give me whatever thumpin' I need to
understand you. AFAIK, my knee-jerk analysis of it tells me only
logged airtime in the past can work to reduce my insurance bill. I
see hours/days in the future as risk, and I'm surprised to hear that
an insurance company would not hold the same view.

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

On 2007-07-13, Morgans wrote:
"Matt Barrow" wrote

You're way out of your element here and setting yourself up for a thumpin'.

I'm beginning to think that we have a troll, or someone that who has
MXS as a hero.

I don't think Barrow was out of line there. He was just warning me he
is about to unleash his firehose of information if I continue to press
forward with my questions. Your accusation that he's trolling is
indeed the first ad hominem to enter this thread. As a matter of
etiquette, you ought to have more certainty than that before making
insulting accusations. So far Barrow has been an asset to this
thread.

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

"Justin Gombos" wrote

I don't think Barrow was out of line there.

You missed it, as usual. I'm accusing you
--
Jim in NC of starting to act like MXS. So is he, in a way.

"Justin Gombos" wrote in message
news:RJDli.7129$CJ4.6231@trndny08...
On 2007-07-13, Matt Barrow wrote:

I'm not sure I understand how an insurer would even know how many
hours a pilot is flying for the current policy year.

They ask you (and it's essentially an affirmation under oath...plus
they MAY ask for your logs)

How often do they collect that information? I would expect them to do
that upon establishing or renewing a policy, but mid-term?

Typically, on renewal (annually). If you were originally claiming 50 hours a
year, and somehow managed to put in 250 hours, you could call your broker
and have him update/modify the policy.

If you
reveal in the middle of a policy year that you have not logged any
hours, do the rates increase?

Not in the middle of the year, but possibly on annual renewal. If your hours
are in the "minimum" category, there's little room to move DOWN.



I can see how an insurer would value air time logged in the *past*
(which I assume is already factored into the rate quote for the
following term). Do pilots update their insurers mid-term to get
mid-term rate reductions?

Experience.

You're way out of your element here and setting yourself up for a
thumpin'.

Whatever concept I'm missing, feel free to explain it to me like I'm a
two year old. I'm a noob. Give me whatever thumpin' I need to
understand you. AFAIK, my knee-jerk analysis of it tells me only
logged airtime in the past can work to reduce my insurance bill.

That's already been explained to you.

As for the two year-old noob, you apparently have a hard time grasping the
reality of how these things work. Did you read the PDF from Columbia about
insurance?

I see hours/days in the future as risk, and I'm surprised to hear that
an insurance company would not hold the same view.

Why don't you call an insurance broker and he will offer you good advice.

Since there's a good probability he'll make money, he'll be more than happy
to spend hours explaining things to you than most people that have bought
car insurance have already figured out at the fundamental level. As
mentioned, these points have already been explained. Deal with it.

"Justin Gombos" wrote


I don't think Barrow was out of line there.

Messed that up. I'll try again.

You missed it, as you have missed all of what has been told to you about
insurance. I believe Matt was also warning you that he was about done being
nice.

You truly are starting to act like MXS.
--
Jim in NC

You may want to reconsider the type airplane you'd like -- there's a
huge difference in ease of flying between something like a 172 and a
Columbia, and that really matters for pilots who don't have a lot of
experience and are not likely to fly 100 plus hours a year.

What may work best for you is to form a partnership with one or two
others and jointly own the airplane. The fixed costs, like insurance,
get spread, and if the airplane gets used 200 or 300 hours a year its
availability will not be an important issue, either. 200 hours a year
is about 4 hours a week -- one or two days a week at most.

You already pointed out there are several clubs in the area spreading
the use of one airplane over many members. If some of those are
frustrated with not having the bird when they want it there may be an
opportunity to get the pilots you need without a lot of effort.

Oh, a minor point to add. If you are senior partner you may want to
recruit another pilot who only wants to use the airplane for business
during the week. If effect then, you'd be paying for 3.5 days of
insurance, sort of what your goal was.

Of course there might be times you want the airplane on a weekday, and
your partner, on the weekend. Those are easy conflicts to work out.