Is everyone insured by Costello Insurance?
I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

Are you going to fly without liability insurance?

That ratio seems high - my ratio is 36 (for a LS-8). A simple ratio might not be a good metric. Much of the cost of the insurance is for liability, which won't change for glider type. So, if you have a less expensive glider the ratio could be low, whereas if you have an expensive glider the ratio could be high.

Yes, I'm insured by Costello. I shopped around 5-6 years ago, and Costello was the cheapest. Plus, I like their policy on using your own glider's insurance to cover rental gliders. But YMMV, as others have found.

-John, Q3

=========

On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

Not everybody is with Costello. I happen to be and pay less than the rate you are quoted, but I've been with them for more than 20 years and have a very good claims history. Rates and deductable do go down a bit over time.
Service is superb. Claims support excellent. They have a number of features that you may no be able to get from others.
They are unlikely to be the cheapest.
Good Luck
UH

On Thursday, 23 November 2017 17:46:19 UTC, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

With an expensive glider in the UK the rate is more like 1 and a half percent of hull value. Do Americans break their gliders more often. (PS I had a total loss claim following a midair 15 years ago, so the insurers will be out of pocket on me for a long time to come! Actually, I changed insurers after that claim because the ones who paid out did not quote competitively for the replacement glider!)

LL Johns in Michigan was cheaper by quite a bit for me in an ASW20. Also a little easier to talk to.

Jordan

Take a look at Starr Insurance
<http://www.starrcompanies.com/insurance/aircrafthullliability>.Â* I have
my Stemme and had my Pipistrel insured with them.


On 11/23/2017 10:46 AM, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

--
Dan, 5J

Make sure you compare the details of any policies you compare. If one quote is higher, it might be because you are getting more or better coverage with that company.

The devil is in the details.

Lou

PS - I'm with Costello and have had nothing but great service from them. They were very clear about when "experienced based" premium reductions kicked in. For a new pilot / private glider owner, that was very helpful. Thankfully, no claims made - and hope to stay that way!

On Thursday, November 23, 2017 at 12:05:34 PM UTC-6, John Carlyle wrote:
> That ratio seems high - my ratio is 36 (for a LS-8). A simple ratio might not be a good metric. Much of the cost of the insurance is for liability, which won't change for glider type. So, if you have a less expensive glider the ratio could be low, whereas if you have an expensive glider the ratio could be high.
>
> Yes, I'm insured by Costello. I shopped around 5-6 years ago, and Costello was the cheapest. Plus, I like their policy on using your own glider's insurance to cover rental gliders. But YMMV, as others have found.
>
> -John, Q3
>
> =========
>
> On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> > Is everyone insured by Costello Insurance?
> > I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

My experience is that the bulk of the insurance cost is for the hull coverage. Liability only insurance is very inexpensive.

Same with me, German insurance. I pay 850 on hull and 170 on liability for an insured hull value of 70k.
Single pilot > 1000 h, NDH, first 5k of hull is on me (except total loss).

Bert
Ventus cM "TW"

That's f*cking expensive. Liability and 85k hull is under 1000eur/year in my part of the world. 1000h experience and 3 named pilots.

Avemco insurance.

I have used them ever since I was a relatively newly licensed glider pilot and purchased a new LS-6c/18 from the LS factory. Costello would not insure me but instead put me in a "catch-22 situation".

Avemco did. To hell with Costello.

So far, I have received multiple discounts from Avemco for things like safe flying/no claims, obtaining advanced ratings, and attending educational seminars.....etc.

The one time I needed insurance coverage for a cracked tail boom (due to intentional ground loop to save myself from injury during an outlanding in the mountains of Tennessee) they stepped up to the plate and worked well with Gerhlein repair facility.

Just another insurance company to consider other than the SSA/Costello consortium.

THANK YOU FOR ALL YOUR HELP! I WILL CHECK OUT ALL OTHER INSURANCE PROVIDERS.

On Thursday, November 23, 2017 at 10:05:34 AM UTC-8, John Carlyle wrote:
> That ratio seems high - my ratio is 36 (for a LS-8). A simple ratio might not be a good metric. Much of the cost of the insurance is for liability, which won't change for glider type. So, if you have a less expensive glider the ratio could be low, whereas if you have an expensive glider the ratio could be high.
>
> Yes, I'm insured by Costello. I shopped around 5-6 years ago, and Costello was the cheapest. Plus, I like their policy on using your own glider's insurance to cover rental gliders. But YMMV, as others have found.
>
> -John, Q3
>
> =========
>
> On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> > Is everyone insured by Costello Insurance?
> > I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

I'm with Costello and the ratio is about 88:1. I'm sure the price is related to the insured price of the glider, your claims history, etc. At our FBO, you will not get a tow unless you have liability insurance at least.

On Friday, November 24, 2017 at 11:08:34 AM UTC-6, jfitch wrote:
> On Thursday, November 23, 2017 at 10:05:34 AM UTC-8, John Carlyle wrote:
> > That ratio seems high - my ratio is 36 (for a LS-8). A simple ratio might not be a good metric. Much of the cost of the insurance is for liability, which won't change for glider type. So, if you have a less expensive glider the ratio could be low, whereas if you have an expensive glider the ratio could be high.
> >
> > Yes, I'm insured by Costello. I shopped around 5-6 years ago, and Costello was the cheapest. Plus, I like their policy on using your own glider's insurance to cover rental gliders. But YMMV, as others have found.
> >
> > -John, Q3
> >
> > =========
> >
> > On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> > > Is everyone insured by Costello Insurance?
> > > I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.
>
> I'm with Costello and the ratio is about 88:1. I'm sure the price is related to the insured price of the glider, your claims history, etc. At our FBO, you will not get a tow unless you have liability insurance at least.

Hi LAX,
Be sure to investigate the insurance requirements of any clubs or tow operators you may wish to be a part of. Some require Costello group participation.

On Thursday, November 23, 2017 at 9:46:19 AM UTC-8, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

It is probably because you are buying an old, cheaper glider. Unfortunately, it cost just as much to repair an old glider (maybe even more) than a newer glider. Hence, the ratios will be different. Self insurance is an option (I would definitely recommend liability insurance regardless). What it gets down to can you write a check to replace your glider if it is totalled? And a cheap repair is at least $5k. If you do self insure, put what you would have paid in premiums into a separate investment account. If you don't know anything about investing just buy an S&P 500 index fund like SPY. This way you will build up the replacement cost much quicker than what you are thinking.

Tom

Best advice I've read in a long time.

On 12/2/2017 9:43 PM, 2G wrote:
> On Thursday, November 23, 2017 at 9:46:19 AM UTC-8, LAX wrote:
>> Is everyone insured by Costello Insurance?
>> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.
> It is probably because you are buying an old, cheaper glider. Unfortunately, it cost just as much to repair an old glider (maybe even more) than a newer glider. Hence, the ratios will be different. Self insurance is an option (I would definitely recommend liability insurance regardless). What it gets down to can you write a check to replace your glider if it is totalled? And a cheap repair is at least $5k. If you do self insure, put what you would have paid in premiums into a separate investment account. If you don't know anything about investing just buy an S&P 500 index fund like SPY. This way you will build up the replacement cost much quicker than what you are thinking.
>
> Tom

--
Dan, 5J

On Thursday, November 23, 2017 at 12:46:19 PM UTC-5, LAX wrote:
> Is everyone insured by Costello Insurance?
> I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

My 1-26 was insured for $11,000 and my payment was 715.87 via Costello.. probably high because I have low hours.

That was about 6 years ago... (I've since sold the 1-26).