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#1
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Glider insurance
Maybe I am in error, and if so I apologize, but I cannot help but think the
good ol' insurance companies may be trying their usual rip-offs. As a renter I am asked to have $20,000 hull insurance on an FBO G-103 so I can take the occasional friend up into the aerospace - no problems - seems fair to the FBO. As a practical matter I am not even in the USA for six months/year. So what I want is a six-month policy for a single sailplane only. Seems there are two companies that do this but: Supposedly I must be insured for SEL as well as gliders. Maybe I am mistaken, but it seems to me that the risk and loss numbers for powered A/C must be much higher than for a glider. Why should I pay to be insured for SEL night instrument weather risks instead of "round the flagpole" soaring? Thus, if correct (and I admit I may be way off base here) I may be subsidizing SEL pilots via my artificially high-cost soaring policy. But maybe not so - any comments here - anyone know (independent of what an INSCO might tell you) what real accident/payout statistics show on SEL vs. glider? I note on the SSA website that apparently soaring insurance is very hard to get. WHY? Are our claims experiences so awful? Neptune |
#2
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Glider insurance
On Jun 21, 9:29*am, " David Ecentral news"
wrote: Maybe I am in error, and if so I apologize, but I cannot help but think the good ol' insurance companies may be trying their usual rip-offs. As a renter I am asked to have $20,000 hull insurance on an FBO G-103 so I can take the occasional friend up into the aerospace - no problems - seems fair to the FBO. As a practical matter I am *not even in the USA for six months/year. So what I want is a six-month policy for a single sailplane only. Seems there are two companies that do this but: * * Supposedly I must be insured for SEL as well as gliders. Maybe I am mistaken, but it seems to me that the risk and loss numbers for powered A/C must be much higher than for a glider. Why should I pay to be insured for SEL night instrument weather risks instead of "round the flagpole" soaring? Thus, if correct (and I admit I may be way off base here) I may be subsidizing SEL pilots via my artificially high-cost soaring policy. But maybe not so - any comments here - anyone know (independent of what an INSCO might tell you) what real accident/payout statistics show on SEL vs. glider? * * I note on the SSA website that apparently soaring insurance is very hard to get. WHY? Are our claims experiences so awful? Neptune I think it's more that we're such a small and insignificant market that few insurers find it worth their while to bother with us. |
#3
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Glider insurance
On Jun 21, 1:29*pm, " David Ecentral news"
wrote: Maybe I am in error, and if so I apologize, but I cannot help but think the good ol' insurance companies may be trying their usual rip-offs. As a renter I am asked to have $20,000 hull insurance on an FBO G-103 so I can take the occasional friend up into the aerospace - no problems - seems fair to the FBO. Perhaps I'm being naive, but wouldn't the FBO insure the glider and pass on a portion of the insurance costs to the renter as part of the time-for-use charge? After all, the FBO should already have insurance on the ship as a commercial operation. |
#4
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Glider insurance
"jsbrake" wrote in message ... Perhaps I'm being naive, but wouldn't the FBO insure the glider and pass on a portion of the insurance costs to the renter as part of the time-for-use charge? After all, the FBO should already have insurance on the ship as a commercial operation. It is indeed normal for an FBO (powered or glider) to insure rental aircraft. Like all costs, you can be sure that those costs are passed on the renter. Unfortunately, the renter gets little or no benefit form that insurance because the "insured party" is normally defined as the FBO and the owner of the aircraft (if they are different). In this way, the insurers "double dip" by retaining the right to claim damages from the renter in case of accident. For protection from this event, the renter must buy "renter's insurance" to protect themselves from being sued by the insurance companies. My renter's insurance costs me about $1,000/year and still only includes modest hull coverage. The only good part is that mine covers both gliders and airplanes. Vaughn |
#5
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Glider insurance
On Jun 23, 7:25*am, "vaughn"
wrote: "jsbrake" wrote in message ... Perhaps I'm being naive, but wouldn't the FBO insure the glider and pass on a portion of the insurance costs to the renter as part of the time-for-use charge? *After all, the FBO should already have insurance on the ship as a commercial operation. * *It is indeed normal for an FBO (powered or glider) to insure rental aircraft. *Like all costs, you can be sure that those costs are passed on the renter. *Unfortunately, the renter gets little or no benefit form that insurance because the "insured party" is normally defined as the FBO and the owner of the aircraft (if they are different). *In this way, the insurers "double dip" by retaining the right to claim damages from the renter in case of accident. *For protection from this event, the renter must buy "renter's insurance" to protect themselves from being sued by the insurance companies. My renter's insurance costs me about $1,000/year and still only includes modest hull coverage. *The only good part is that mine covers both gliders and airplanes. Vaughn Yep. Insurance companies are in it for the money - they need a lot of it so they can cover their subprime mortgage and Credit Default Swap losses. Renter's insurance is a great deal for them. They get to sell hundreds of $1000/year policies on top of the FBO's policy. |
#6
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Glider insurance
Have you taken a look at AOPA's renter's insurance? I haven't looked
at all the details, but it looks like it meets your requirements. I looked at the FAQ's and it specifically lists coverage of non-powered sailpanes, including experimental. You are required to get injury and property damage coverage. The minimum is $250,000. As an AOPA member, the annual premium is $81. Non member is $86. The optional non-owned aircraft damage coverage with a $20,000 limit premium is $283. Non member is $250. That totals to $364 per year for a member. You can check their web site at http://www.aopaia.com/renters_start.cfm#. Charlie |
#7
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Glider insurance
My Non-owned Renters Policy with AVEMCO for $50,000 Hull coverage and Std
Liability Coverage is about $600 a year and covers multi engine. BT "bildan" wrote in message ... On Jun 23, 7:25 am, "vaughn" wrote: "jsbrake" wrote in message ... Perhaps I'm being naive, but wouldn't the FBO insure the glider and pass on a portion of the insurance costs to the renter as part of the time-for-use charge? After all, the FBO should already have insurance on the ship as a commercial operation. It is indeed normal for an FBO (powered or glider) to insure rental aircraft. Like all costs, you can be sure that those costs are passed on the renter. Unfortunately, the renter gets little or no benefit form that insurance because the "insured party" is normally defined as the FBO and the owner of the aircraft (if they are different). In this way, the insurers "double dip" by retaining the right to claim damages from the renter in case of accident. For protection from this event, the renter must buy "renter's insurance" to protect themselves from being sued by the insurance companies. My renter's insurance costs me about $1,000/year and still only includes modest hull coverage. The only good part is that mine covers both gliders and airplanes. Vaughn Yep. Insurance companies are in it for the money - they need a lot of it so they can cover their subprime mortgage and Credit Default Swap losses. Renter's insurance is a great deal for them. They get to sell hundreds of $1000/year policies on top of the FBO's policy. |
#8
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Glider insurance
Liam wrote:
On Jun 21, 9:29 am, " David Ecentral news" wrote: Maybe I am in error, and if so I apologize, but I cannot help but think the good ol' insurance companies may be trying their usual rip-offs. As a renter I am asked to have $20,000 hull insurance on an FBO G-103 so I can take the occasional friend up into the aerospace - no problems - seems fair to the FBO. Perhaps you do not understand the policy (or perhaps I don't :-) ). The typical renter policy protects you from subrogation. The glider is insured by the FBO and in case of accident, the company will pay the FBO and then the insurer will come after *you* to recover its costs. THAT is what you are being protected from. Tony |
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