Sun N Fun '07 Redux

Morgans wrote:

"Jay Honeck" wrote


Well, Jim, the average Cirrus pilot is paying $10 - $15K annually for
insurance, from what I've been told.

Makes my $1200/year seem positively reasonable.


I had no idea that it was so expensive to insure jets.

I have a hard time seeing how they will ever be able to get the cost down
low enough to make air taxi service with the VLJ's affordable.

Eclipse is quoting around $32K for full coverage on it's 500 for a "fully
qualified pilot" (ie, something around 2000+/500 hour pilot), or $64K for a
newbie.

http://www.eclipseaviation.com/ownership/insurance/

Which immediately makes me wonder why some of the VLJ manufacturers couldn't
become the insurance under writers for their aircraft?

They would have the cheapest replacement parts to repair a customers botched
airplane. They could demand strict training or mentor programs. They could
sell the highest risk to other underwriters and keep the safest risk. It
would provide an additional income stream.

Downside could be a large lawsuit or several out of court settlements
costing the company valuable liquid assets. I guess settlements could be
time installments based on annuities, similar to lotteries.. but I'm getting
ahead of myself.

Any other thoughts about manufacturers underwriting the insurance?

Jim

"Matt Barrow" wrote in message
...
Morgans wrote:

"Jay Honeck" wrote


Well, Jim, the average Cirrus pilot is paying $10 - $15K annually for
insurance, from what I've been told.

Makes my $1200/year seem positively reasonable.


I had no idea that it was so expensive to insure jets.

I have a hard time seeing how they will ever be able to get the cost
down
low enough to make air taxi service with the VLJ's affordable.

Eclipse is quoting around $32K for full coverage on it's 500 for a "fully
qualified pilot" (ie, something around 2000+/500 hour pilot), or $64K for
a
newbie.

http://www.eclipseaviation.com/ownership/insurance/

Matt Barrow wrote:
Morgans wrote:

"Jay Honeck" wrote


Well, Jim, the average Cirrus pilot is paying $10 - $15K annually
for insurance, from what I've been told.

Makes my $1200/year seem positively reasonable.


I had no idea that it was so expensive to insure jets.

I have a hard time seeing how they will ever be able to get the cost
down low enough to make air taxi service with the VLJ's affordable.

Eclipse is quoting around $32K for full coverage on it's 500 for a
"fully qualified pilot" (ie, something around 2000+/500 hour pilot),
or $64K for a newbie.

http://www.eclipseaviation.com/ownership/insurance/

If I'm doing the math right that's about 2% of hull value for the "fully
qualified pilot" and 4% for a newbie. Sounds about right. I was checking
insurance costs for the 601XL I'm building and was quoted $445.00/year on a
$40K hull cost.

24 to 32 THOUSAND???

Are you sure?

Wow.

Well, Jim, the average Cirrus pilot is paying $10 - $15K annually for
insurance, from what I've been told.

Makes my $1200/year seem positively reasonable.
--
Jay Honeck

Jay, this reminds me of a time in GA when insurance for certain
operations/types simply wasnt available at ANY price. I think what the
VLJ manufacturers are doing is a great proactive way to sell even more
jets. For anyone in RAP land who might be looking to try this mentor
pilot program, the requirements were pretty low. I dont recall what
the Diamond people wanted, but the Eclipse people only wanted to see
1000 multi and 500 turbine. Seems like an easy way to make some extra
spendoolies as a side job. I have mentored a few polits over the years
and it was fun (Got to fly to some interesting places too).