Glider Insurance

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

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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

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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"