Insurance increase!

[Roger Worden]

I just received a letter from AIG stating that rates are going up. (I have
"non-owned" coverage for rental ships and for liability.) Then my renewal
letter from Costello states that my new AIG policy "will not be a part of
the Soaring Society of America Group Insurance Program." And the rate jumped
up by 42%! Anyone else seen this?

[chipsoars]

On Apr 17, 1:03 am, "Roger Worden" > wrote:
> I just received a letter from AIG stating that rates are going up. (I have
> "non-owned" coverage for rental ships and for liability.) Then my renewal
> letter from Costello states that my new AIG policy "will not be a part of
> the Soaring Society of America Group Insurance Program." And the rate jumped
> up by 42%! Anyone else seen this?

I haven't seen anything since my policy is up later this year.

The rate increase is mentioned in the February SSA BoD minutes which
states there has been no increase in 6 years.

Jim Skydell on the ExCom has responsibility for Insurance. You should
contact him or your regional director. The program is a 'major SSA
membership benefit. What doesn't make sense is that your policy is no
longer a part of the Group program.

If that truly is the case along with a significant rate increase, I
will certainly be soliciting quotes to determine if the cost is
reasonable. I know my club (an SSA chapter) and other private ship
owners use different brokers/insurance companies where costs are
lower. These haven't been enough to go through the diligence of
comparing policies, but the level of this increase is sufficient to
stimulate my interest.

Chip F.

[[email protected]]

On Apr 17, 1:03 am, "Roger Worden" > wrote:
> I just received a letter from AIG stating that rates are going up. (I have
> "non-owned" coverage for rental ships and for liability.) Then my renewal
> letter from Costello states that my new AIG policy "will not be a part of
> the Soaring Society of America Group Insurance Program." And the rate jumped
> up by 42%! Anyone else seen this?

Suggest you check with Costello re this. I am sure they will explain.
If you live in California, you are the victim of state policies that
drive rates up.
Warning of increasing rates went out with renewal letters form
Costello. Losses in clubs and commercial ops have been big.
UH

[rustynuts]

On Apr 17, 5:39 am, wrote:
> On Apr 17, 1:03 am, "Roger Worden" > wrote:
>
> > I just received a letter from AIG stating that rates are going up. (I have
> > "non-owned" coverage for rental ships and for liability.) Then my renewal
> > letter from Costello states that my new AIG policy "will not be a part of
> > the Soaring Society of America Group Insurance Program." And the rate jumped
> > up by 42%! Anyone else seen this?
>
> Suggest you check with Costello re this. I am sure they will explain.
> If you live in California, you are the victim of state policies that
> drive rates up.
> Warning of increasing rates went out with renewal letters form
> Costello. Losses in clubs and commercial ops have been big.
> UH

I paid $1078 last year (May 06) with the 90 day out of service
discount. My renewal quote for 07 is
$1188 before discount I think it's $110 or there about. It also
states SSA membership required
& 5% AOPA discount included.

[Kloudy via AviationKB.com]

Thats interesting. I received the same warning letter from Costello but found
my premiums for 07-08 to be cheaper.


Hmm. Methinks I must read what limits I obtained for this season. I might
have reduced something.

Roger Worden wrote:
>I just received a letter from AIG stating that rates are going up. (I have
>"non-owned" coverage for rental ships and for liability.) Then my renewal
>letter from Costello states that my new AIG policy "will not be a part of
>the Soaring Society of America Group Insurance Program." And the rate jumped
>up by 42%! Anyone else seen this?

--
Message posted via http://www.aviationkb.com

[Tim Hanke]

Our Soaring Club received this notice one month prior to our March
renewal. I called Sue at Costello and she indicated that this was only
for clubs with less than two aircraft and who have had a claim in the
last three years. Our rate also went down this year.


On Apr 17, 1:03 am, "Roger Worden" > wrote:
> I just received a letter from AIG stating that rates are going up. (I have
> "non-owned" coverage for rental ships and for liability.) Then my renewal
> letter from Costello states that my new AIG policy "will not be a part of
> the Soaring Society of America Group Insurance Program." And the rate jumped
> up by 42%! Anyone else seen this?

[chipsoars]

On Apr 17, 11:40 am, Tim Hanke > wrote:
> Our Soaring Club received this notice one month prior to our March
> renewal. I called Sue at Costello and she indicated that this was only
> for clubs with less than two aircraft and who have had a claim in the
> last three years. Our rate also went down this year.
>
> On Apr 17, 1:03 am, "Roger Worden" > wrote:
>
>
>
> > I just received a letter from AIG stating that rates are going up. (I have
> > "non-owned" coverage for rental ships and for liability.) Then my renewal
> > letter from Costello states that my new AIG policy "will not be a part of
> > the Soaring Society of America Group Insurance Program." And the rate jumped
> > up by 42%! Anyone else seen this?- Hide quoted text -
>
> - Show quoted text -

Hopefully UH is correct on a local aberration and that Costello/SSA
will provide some clarification. I've always had excellent service
from Pat. I don't mind a minimal cost difference if it supports the
pool.

Guess the best is to sit tight and see what actually comes in the
mail.

Chip

[SAM 303a]

My partner and I just renewed and our cost of coverage went down 10-ish
percent.

"Roger Worden" > wrote in message
et...
>I just received a letter from AIG stating that rates are going up. (I have
>"non-owned" coverage for rental ships and for liability.) Then my renewal
>letter from Costello states that my new AIG policy "will not be a part of
>the Soaring Society of America Group Insurance Program." And the rate
>jumped up by 42%! Anyone else seen this?
>

[BT]

the real question is.. why are you no longer part of the SSA Group Program?

We were/are and only saw a 5% increase

BT

"Roger Worden" > wrote in message
et...
>I just received a letter from AIG stating that rates are going up. (I have
>"non-owned" coverage for rental ships and for liability.) Then my renewal
>letter from Costello states that my new AIG policy "will not be a part of
>the Soaring Society of America Group Insurance Program." And the rate
>jumped up by 42%! Anyone else seen this?
>