On 2007-07-11, Morgans wrote:

You must not understand insurance.

My understanding of insurance only scratches the surface; but my
understanding of math has me questioning your figures.

Think of it this way. How would you not flying Mon-Thurs make you
less likely to crash or break something, resulting in a claim?

I'm figuring air time to be directly proportional to risk.

Would you be flying more hours if you had a full week policy? If
not, why lower a year's premium?

More available flight hours generally means more hours in the air,
thus more hours at risk. If that were not the case, then one year of
insurance would transfer the same risk as two or more years of
coverage. But we know that's not true because insurers charge double
for two years of coverage.

If anything, flying Fri-Sun would expose you to more risk, in
possible mid-air's with increased weekend fliers.

Those insured for 365.25 days/year would share that same weekend risk.
But weekend pilots are not at risk during the week. So naturally
that's relatively less risk.

I'm not saying the risk transfered on a Saturday equals that of a
Wednesday, nor does that have to be true to justify a lower rate.
Weekend pilots are probably higher risk per hour than a 40+ hours/week
pilot, so the premium most likely would not be reduced to 3/7ths of
the normal rate.. but even if the premium is reduced to 5/7ths of the
rate the policy would sell.

That is the bottom line; to insure you for cheaper, they would need
to see lower risk. You would not be giving them lower risk, so cost
stays the same.

I don't see how ~156 days of insurance is not less risk than 365 days.
Even if you figure that more of the available time is consumed on a
weekend policy, you can still expect the annual risk to be lower.

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