Insurance options...

[[email protected]]

Is there anyone else out there that is considering it their 'moral
obligation' to seek out a new Insurer after the latest bonus gaff from
AIG?
What other options are there when I vote with my feet at renewal
time?
They obviously don't need my business.


Bob Hills 7U

[noel.wade]

On Mar 16, 3:17*pm, wrote:
> Is there anyone else out there that is considering it their 'moral
> obligation' to seek out a new Insurer after the latest bonus gaff from
> AIG?
> What other options are there when I vote with my feet at renewal
> time?
> They obviously don't need my business.
>
> Bob Hills 7U

Bob -

I've used Costello and Avemco.

While Costello is arguably the most glider-familiar insurer and has a
lot of ties to the SSA, I've found dealing with Avemco to be a really
great experience - even though they are more power-pilot oriented.

Avemco has more flexible payment plans than Costello, and hasn't
griped as much about putting aircraft on non-flying status for
moderate periods of time. For a "low-time" pilot like me (only about
250 hours TT), I found Avemco to provide slightly better rates for
nearly-identical coverage on high-performance gliders. The down-side
is that Avemco's database of insurable aircraft basically covers only
the more common glider Makes and Models. They knew what my DG-300
was, but wouldn't insure my Russia AC-4 (though surprisingly, they
knew what an AC-5m was! *shrug*).

Some parts of the country have a couple of other options for glider/
aircraft insurance, but they weren't available in my state
(Washington).

Good luck!

--Noel

[rlovinggood]

Noel and Bob,

I have insured with Avemco and they were great. No problems at all
when I had a claim back in the previous century. The only reason I
switched to Costello is that they were cheaper for me. I've been
satisfied with Costello for probably close to ten years now and
haven't shopped around. The folks at Costello, mainly Sue, are always
extremely kind and helpful when I call with questions.

Also, I think when I was insured by Avemco, their policies were
underwritten by AIG as well. So, if you go to another broker, will
you still wind up with AIG as the one ultimately taking your money?

Ray Lovinggood
Carrboro, North Carolina, USA

[Mike McCarron[_2_]]

At 23:08 16 March 2009, noel.wade wrote:
>On Mar 16, 3:17=A0pm, wrote:
>> Is there anyone else out there that is considering it their 'moral
>> obligation' to seek out a new Insurer after the latest bonus gaff
from
>> AIG?
>> What other options are there when I vote with my feet at renewal
>> time?
>> They obviously don't need my business.
>>
>> Bob Hills 7U
>
>Bob -
>
>I've used Costello and Avemco.
>
>While Costello is arguably the most glider-familiar insurer and has a
>lot of ties to the SSA, I've found dealing with Avemco to be a really
>great experience - even though they are more power-pilot oriented.
>
>Avemco has more flexible payment plans than Costello, and hasn't
>griped as much about putting aircraft on non-flying status for
>moderate periods of time. For a "low-time" pilot like me (only about
>250 hours TT), I found Avemco to provide slightly better rates for
>nearly-identical coverage on high-performance gliders. The down-side
>is that Avemco's database of insurable aircraft basically covers only
>the more common glider Makes and Models. They knew what my DG-300
>was, but wouldn't insure my Russia AC-4 (though surprisingly, they
>knew what an AC-5m was! *shrug*).
>
>Some parts of the country have a couple of other options for glider/
>aircraft insurance, but they weren't available in my state
>(Washington).
>
>Good luck!
>
>--Noel
>

I have been with Costello since 1984 for both our gliding club aircraft
insurance as well as my private glider. They are very courteous and
professional - especially Sue Fassett.

Mike

[Mike McCarron[_2_]]

At 23:08 16 March 2009, noel.wade wrote:
>On Mar 16, 3:17=A0pm, wrote:
>> Is there anyone else out there that is considering it their 'moral
>> obligation' to seek out a new Insurer after the latest bonus gaff
from
>> AIG?
>> What other options are there when I vote with my feet at renewal
>> time?
>> They obviously don't need my business.
>>
>> Bob Hills 7U
>
>Bob -
>
>I've used Costello and Avemco.
>
>While Costello is arguably the most glider-familiar insurer and has a
>lot of ties to the SSA, I've found dealing with Avemco to be a really
>great experience - even though they are more power-pilot oriented.
>
>Avemco has more flexible payment plans than Costello, and hasn't
>griped as much about putting aircraft on non-flying status for
>moderate periods of time. For a "low-time" pilot like me (only about
>250 hours TT), I found Avemco to provide slightly better rates for
>nearly-identical coverage on high-performance gliders. The down-side
>is that Avemco's database of insurable aircraft basically covers only
>the more common glider Makes and Models. They knew what my DG-300
>was, but wouldn't insure my Russia AC-4 (though surprisingly, they
>knew what an AC-5m was! *shrug*).
>
>Some parts of the country have a couple of other options for glider/
>aircraft insurance, but they weren't available in my state
>(Washington).
>
>Good luck!
>
>--Noel
>

I have been with Costello since 1984 for both our gliding club aircraft
insurance as well as my private glider. They are very courteous and
professional - especially Sue Fassett.

Mike

[Greg Arnold[_2_]]

rlovinggood wrote:
> Noel and Bob,
>
> I have insured with Avemco and they were great. No problems at all
> when I had a claim back in the previous century. The only reason I
> switched to Costello is that they were cheaper for me. I've been
> satisfied with Costello for probably close to ten years now and
> haven't shopped around. The folks at Costello, mainly Sue, are always
> extremely kind and helpful when I call with questions.
>
> Also, I think when I was insured by Avemco, their policies were
> underwritten by AIG as well. So, if you go to another broker, will
> you still wind up with AIG as the one ultimately taking your money?

AIG's insurance operations are in good shape. Their other problems
won't affect their ability to pay insurance claims.


>
> Ray Lovinggood
> Carrboro, North Carolina, USA
>

[[email protected]]

I whole heartedly agree with all you say about Costello, they have
been great for my Private and our Club Aircraft..... it just irks me
that the policy is underwritten by AIG.
Bob
On Mar 16, 7:43*pm, rlovinggood > wrote:
> Noel and Bob,
>
> I have insured with Avemco and they were great. *No problems at all
> when I had a claim back in the previous century. *The only reason I
> switched to Costello is that they were cheaper for me. *I've been
> satisfied with Costello for probably close to ten years now and
> haven't shopped around. *The folks at Costello, mainly Sue, are always
> extremely kind and helpful when I call with questions.
>
> Also, I think when I was insured by Avemco, their policies were
> underwritten by AIG as well. *So, if you go to another broker, will
> you still wind up with AIG as the one ultimately taking your money?
>
> Ray Lovinggood
> Carrboro, North Carolina, USA

[Papa3]

On Mar 16, 8:38*pm, wrote:
> I whole heartedly agree with all you say about Costello, they have
> been great for my Private and our Club Aircraft..... it just irks me
> that the policy is underwritten by AIG.
> Bob
> On Mar 16, 7:43*pm, rlovinggood > wrote:
>
>
>
> > Noel and Bob,
>
> > I have insured with Avemco and they were great. *No problems at all
> > when I had a claim back in the previous century. *The only reason I
> > switched to Costello is that they were cheaper for me. *I've been
> > satisfied with Costello for probably close to ten years now and
> > haven't shopped around. *The folks at Costello, mainly Sue, are always
> > extremely kind and helpful when I call with questions.
>
> > Also, I think when I was insured by Avemco, their policies were
> > underwritten by AIG as well. *So, if you go to another broker, will
> > you still wind up with AIG as the one ultimately taking your money?
>
> > Ray Lovinggood
> > Carrboro, North Carolina, USA- Hide quoted text -
>
> - Show quoted text -

For what it's worth...

AIG's commercial insurance division, which underwrites the SSA group
plan administered by Costello, is far removed from the Credit Default
Swaps that eventually brought the parent down. In fact, as we speak
the Commercial Insurance areas are being spun off into a new entity
(AIU Global Holdings) which will be only in the business of insurance
and will therefore behave like any of the other regulated insurance
companies. Are the folks in this division "angels"? Certainly
not. But AIG has always made a business out of serving specialized
markets (such as aviation) which others have neglected or
abandoned. One could argue that in the current environment, they
need us more than ever, and to some extent, we need them. This
might present new opportunities. Enough said.

P3

[[email protected]]

On Mar 16, 6:17*pm, wrote:
> Is there anyone else out there that is considering it their 'moral
> obligation' to seek out a new Insurer after the latest bonus gaff from
> AIG?
> What other options are there when I vote with my feet at renewal
> time?
> They obviously don't need my business.
>
> Bob Hills 7U

Respectfully, you are completely off base.
AIG Aviation is an excellent organization which provides us with great
service.
Truth be told, we need them more than they need us.
Try to insure your tug and club fleet with Avemco- good luck.
They are just another company which is held by the larger business
that has had some serious
sinners.
If we stick together with Costello and the SSA program, we have the
best chance of remaining in a position where we can get insurance.
Have an accident and you will find out what I mean.
Cheers
UH

[sisu1a]

> > Is there anyone else out there that is considering it their
'moral
> > obligation' to seek out a new Insurer after the latest bonus gaff from
> > AIG?
> > What other options are there when I vote with my feet at renewal
> > time?
> > They obviously don't need my business.

I've only used Costello, but when I had my unfortunate claim last
year, the first thing they said to me was "we are so sorry for your
loss"... then they quickly proceeded to process it which ultimately
was very graciously paid by AIG with absolutely no hassle.

There isn't anything either Costello or AIG could have done to be any
more courteous or quicker. To ice the cake, after AIG totaled me out
on my policy, Costello refunded me the pro-rata portion I had left
over from the months of paid policy on my then totaled ship. I'm
sticking with Costello, and whoever they get to underwrite them is
their business, to which I trust to their judgment.

-Paul

[Matt[_2_]]

Two important data points;

1) I got non-owners (renters) insurance through Avemco 2 years ago,
but upon reading the fine print, discovered that they DO NOT COVER
experimental aircraft.

2) I switched to Costello because they do, and when I renewed in
January '09 the copy of the policy had an AIG cover, but was
underwritten by National Union Fire Insurance Company of Pittsburgh,
PA (A bit confusing)

Matt

[BrianC-V6]

<snip>
> 1) I got non-owners (renters) insurance through Avemco 2 years ago,
> but upon reading the fine print, discovered that they DO NOT COVER
> experimental aircraft.
>
<snip>
> Matt

I seem to recall this limitation as well, However I was looking into
purchasing this, this morning and was surprised this is no longer the
case. As I read it, it specifically says that it covered Non-powered
sailplanes and aircraft with Experimental Aircraft Certificate.

However I just realized I was looking at the AOPA Renters insurance
and not the AVEMCO Insurance. So I looked at the AVEMCO Policy. From
what I could see they would cover Amateur Built Aircraft and Gliders
but it might require an additional Endorsement to the Policy. However
the way it is worded it does not look like it covers Experimental
Racing Aircraft.

Brian

[Jim Beckman[_2_]]

At 01:37 17 March 2009, wrote:

>If we stick together with Costello and the SSA program, we have the
>best chance of remaining in a position where we can get insurance.
>Have an accident and you will find out what I mean.

A couple years ago our club dinged a wing on one of our gliders and I was
the one handling the insurance claim and repairs. As I recall, the claim
was assigned to an AIG adjuster (or whatever the title was). The whole
thing turned out to be quite reasonable and painless. I have no
complaints about how I was treated by both Costello and AIG. Whenever
somebody talks about looking around for other insurance sources, we seem
to run into the problem that nobody but Costello really wants to deal with
glider clubs.

I also agree with P3 - the current disaster and bonus uproar is limited to
only one area of AIG, one of something like a dozen divisions. I'm
reluctant to tar the rest of them because one particular group screwed up
big time.

Jim Beckman

[Papa3]

On Mar 17, 12:28*am, Matt > wrote:
> Two important data points;
>
> 1) I got non-owners (renters) insurance through Avemco 2 years ago,
> but upon reading the fine print, discovered that they DO NOT COVER
> experimental aircraft.
>
> 2) I switched to Costello because they do, and when I renewed in
> January '09 the copy of the policy had an AIG cover, but was
> underwritten by National Union Fire Insurance Company of Pittsburgh,
> PA (A bit confusing)
>
> Matt

Hi Matt,

AIG writes business on many different "papers" . Nat Union is one
of those. It has to do with where they are admitted to do business
in the various states. Remember, Insurance is still largely regulated
at the State level.

P3

[noel.wade]

Just to clarify the Avemco / Experimental question:

My DG-300 is registered experimental (like all of them). Avemco had
no problems with this and covered me just fine.

Costello would have covered my DG-300 as well, but Costello wanted all
the $$ up-front (Avemco allows you to pay quarterly); and Costello
wanted an 20% higher premium than what Avemco is charging me. I have
had no problems with service from either company!

--Noel