Insurance recommendations please

Doug Vetter wrote:

FYI, you heard right. Stay away from Avemco unless you really like
paying double the going rate, or giving them tons of money over the
years only to have them drop you when you move up to an aircraft they
choose not to insure for some rediculous reason.

Another trick Avemco uses is to give you a lowball rate (or at least a decent
one) for the first year and then jack your premium 10% or more. So, try them
anyway. If they give you a decent price, take it for a year. Just be prepared to
find another company when the price goes up.

And ... my broker is Chris Wolbert at 301-682-6200.

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.

I've had good luck with AVEMCO. Shop and compare. If you get a good
rate from one of the companies, go with them. But really, there are two
companies, AVEMCO and everyone else. MIght as well get a quote from
both.

I use Travers and have used them for years. Very good service.
Understand as I found out that all brokers get the same rates from
underwriters so it's all done to service. this is what I've learnt.

www.traversaviation.com

BOB.

Ray

On Fri, 10 Jun 2005 14:51:55 GMT, City Dweller wrote:

Hi everyone,

I was hoping someone can recommend an insurance company for my new
Diamond
Star. I am based in New Jersey. This would be a joint policy with my
instructor (I don't have my ticket yet). I have heard that Avemco is
overpriced, and I already submitted a quote request to Falcon. Any
others?

Thanks in advance

-- City Dweller






--
Using Opera's revolutionary e-mail client: http://www.opera.com/m2/

On Fri, 10 Jun 2005 14:51:55 GMT, "City Dweller"
wrote:

Hi everyone,

I was hoping someone can recommend an insurance company for my new Diamond
Star. I am based in New Jersey. This would be a joint policy with my
instructor (I don't have my ticket yet). I have heard that Avemco is
overpriced, and I already submitted a quote request to Falcon. Any others?

I have used Wenk as my broker for several years, and have been happy.

They are pro-active and do a good job of searching out quotes. They
seem to find good rates. OTOH, I have never filed a claim with any of
their carriers, and that is the real test of insurance.

http://www.wenkinsurance.com/

-Nathan

http://www.nationair.com/



"City Dweller" wrote in message
...
Hi everyone,

I was hoping someone can recommend an insurance company for my new Diamond
Star. I am based in New Jersey. This would be a joint policy with my
instructor (I don't have my ticket yet). I have heard that Avemco is
overpriced, and I already submitted a quote request to Falcon. Any others?

Thanks in advance

-- City Dweller

In article Gfsqe.659$aR1.25@trndny02, George Patterson wrote:
Another trick Avemco uses is to give you a lowball rate (or at least a decent
one) for the first year and then jack your premium 10% or more. So, try them
anyway. If they give you a decent price, take it for a year. Just be prepared to
find another company when the price goes up.

Avemco has a reputation for insuring things that other companies
won't touch (experimentals), or pilots who are not otherwise
insurable in the aircraft (too low time or such).

It's not a bad deal if you insure with them for the first year,
fly a lot, then go with a different company when Avemco raises
your rates - by then you've got, say, 100 hours in type, and it's
easier to get a quote from another company.

Tina Marie
--
http://www.tripacerdriver.com "...One of the main causes
of the fall of the Roman Empire was that, lacking zero, they had no way
to indicate successful termination of their C programs." (Robert Firth)

Aaron Coolidge wrote:
Doug Vetter wrote:

: FYI, you heard right. Stay away from Avemco unless you really like
: paying double the going rate, or giving them tons of money over the
: years only to have them drop you when you move up to an aircraft they
: choose not to insure for some rediculous reason.

Have you ever been insured with Avemco?

I have for the last 4 years. My rates have remained constant or decreased
every year as I have added hours & ratings, despite increasing the stated
value of my airplane.

Another point is to compare the same policies. Avemco doesn't do the ultra-
cheap policies; for example all of their policies come with a generous
open pilot clause. As this matters to me, I'm happy to pay the Avemco rate.

I have never insured with Avemco because their rates are so horrible.
They send me a form every spring because they know my insurance is due
in May. Every year I fill it out to see if they've come to their
senses. Every year they are 50% higher than my broker comes in at.
Makes no sense. The Cub crowd seems to like them, they have the lowest
rates there.

Aaron Coolidge wrote:

I have for the last 4 years. My rates have remained constant or decreased
every year as I have added hours & ratings, despite increasing the stated
value of my airplane.

Glad you're happy with them. Every time they gave me a quote on my Maule, it was
well over $3,000. My last policy was a bit over $1,200.

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.

Thanks for everyone who responded.

I got my quote today: $3,400, with small deductibles ($250 in motion and $50
not in motion), $1,000.000/$100.000, with only 5 required dual hours in the
type before solo, and no additional hours solo after getting the ticket
before taking passengers. Considering I am not even a PPL yet, it sounds
reasonable.

Comments anyone?

-- CIty Dweller


"OtisWinslow" wrote in message
m...
http://www.nationair.com/



"City Dweller" wrote in message
...
Hi everyone,

I was hoping someone can recommend an insurance company for my new
Diamond Star. I am based in New Jersey. This would be a joint policy with
my instructor (I don't have my ticket yet). I have heard that Avemco is
overpriced, and I already submitted a quote request to Falcon. Any
others?

Thanks in advance

-- City Dweller

On Sat, 11 Jun 2005 02:42:31 GMT, George Patterson
wrote:

Doug wrote:

What will happen is they will want an
N-number (wont quote without one), and NO other underwriters will quote
on that N-number for some period of time (I don't know how long). That
is what is a problem. The insurance companies claim they need this.

The reason is very simple. They don't want to waste their time providing
multiple quotes on the same plane. It costs them money. So, when the second
broker calls asking for a price, the underwriter won't give it to him.

Horse****!

Its just a way of protecting the brokers who bring them business. If
there wasn't a lock, you could call five different brokers and shop
around to get the best price. Since the Insurance company charges
pretty much the same -- the best price is the broker who marks it up
the least.

I've seen it in other industries. It used to be the gold standard
20-30 years ago in cars. You NEVER found out what the dealer's
invoice price was -- you bought it sticker or didn't buy. And in the
back office, the salesman was collecting a $3,000 - $6,000 commission.
But not anymore. Today you can find the invoice price on the net.

LIfe insurance also used to be that way. I know, I did it for a while
(very SHORT while). Mark up was incredible. And the 'broker' didn't
always shop around for the best price for the customer -- a lesser
price meant a smaller precentage commission.

The only way to stop this "system" the insurance companies use is to
start fighting it. If a lot of fellow owners start refusing to give a
N# when they call for a quote and simply hangup when they insist they
need it -- they'll start getting the idea. It will be a pain for us
all and will mean multiple phone calls with arguments on each call.

But I don't think the car sales industry changed overnight and without
a fight...



Chuck