| Author | Message | ||
     Charles King New member Username: Chazking Post Number: 2 Registered: 01-2005 |
I'm a newly minted pilot and would like to purchase an Express, but cannot find insurance. Any suggestions? | ||
| Mark Rich New member Username: Mrich Post Number: 15 Registered: 01-2003 |
Check with Falcon Insurance, They've been reasonable and I've been very happy with them. | ||
| Eric Holmberg New member Username: Erich Post Number: 104 Registered: 05-2002 |
Let us know what you find out, most builders are interested in recent quotes  I know I am! | ||
| Allyn Roe Unregistered guest |
Charles, I would check with AIG and Bob Sorrell at 1-888-265-0844. I know they required about 400hrs total time and 10-20 hrs in type. | ||
| Jeff Turner Unregistered guest |
I am in the process of selling a 1/2 interest in my Express and in checking with the insurance company (Falcon) about potential buyers, they say they need to have about 500TT & inst. rating before they would write a policy and at that it runs $3200/yr @ $100k value. | ||
| Gary Markwardt New member Username: Gmark Post Number: 27 Registered: 12-1999 |
I have 325 TT, 130 in type and no instrument rating and am insured thru Falcon with Global Aerospace for $150K hull value. Annual premium was $4500. AIG quoted a bit less thru Falcon, $4200 as I recall, but had restrictions on max payouts and is slow to pay claims from everything I've heard about them. | ||
| Carter A. Smith New member Username: Carter_smith Post Number: 14 Registered: 07-2004 |
I wonder if anyone has had any luck recently getting insurance on their project. My project is about 75% complete, the Lycoming 540 just arrived and the instrument panel is just a month or two off. I need to be able to insure against fire, theft, hurricanes (I live in Florida), etc. Bob Sorrell, of AIG, said he could not help because EAC is out of business. Call back in a few months. I understand the problem with the kit itself since fiberglass parts are not available. But, I would at least like to be able to insure the Engine and Panel. Does anyone have any ideas? Carter | ||
| Carter A. Smith New member Username: Carter_smith Post Number: 15 Registered: 07-2004 |
I wonder if anyone has had any luck recently getting insurance on their project. My project is about 75% complete, the Lycoming 540 just arrived and the instrument panel is just a month or two off. I need to be able to insure against fire, theft, hurricanes (I live in Florida), etc. Bob Sorrell, of AIG, said he could not help because EAC is out of business. Call back in a few months. I understand the problem with the kit itself since fiberglass parts are not available. But, I would at least like to be able to insure the Engine and Panel. Does anyone have any ideas? Carter | ||
| Anonymous |
Falcon just renewed my insurance John Harlow | ||
| Bruce Whetstone New member Username: Bwhetstone Post Number: 8 Registered: 07-2005 |
Looks like this thread hasn't seen much action in awhile. I currently have insurance through Falcon with Global Aerospace, including zero deductible physical damage (in-motion and not in-motion), medical and liability, for $2850/year. I recently asked what it would take to add a pilot (spouse) to the policy in terms of experience - they said 400 hours SEL and an instrument rating. (Instrument rating using the rationale that the Express is a cross-country plane, and you're more likely to run into IMC when flying cross-country.) Spouse is only 180 hours and no instrument rating. But... they also said that they are not writing any new policies like mine (and are grandfathering pilot/owners like me), and any new policies they might write would be liability only. Anyone have comments? This will most definitely affect possible resale of my Express, if/when the time comes. | ||
| Jimmie Kevin Alderman New member Username: Vikingpilot Post Number: 12 Registered: 07-2011 |
I had a Bellanca Viking when I first became a pilot, and no one would even quote me. So, I flew for almost 3 years and 300 hours all up and down the east coast, and to the Bahamas with no incidents. I will likely have about 20K or so in my express when I get it done, and by my calcs 3K per year would be as much as I have in the plane in about 7.5 years. Add in interest lost and the premiums will exceed the value of the plane. I dont plan to buy any. My 53 Hatteras hasn't had insurance on it for 4 years, with no issues there either. The guy that developed X plane doesnt carry insurance either since the one claim he had in his life resulted in the insurance company getting out of paying for it. In 2007 I owned a Sport fish boat that burned while tied to the dock. I had owned this boat for 7 years and had Boat US insurance the whole time. The first person I saw from Boat US wasn't an adjuster, it was an attorney from Virginia Beach. They said that since my business paid for some of the fuel in my personal boat that this made it a business boat and denied the claim. The attorney said "sue us- it will cost more to try the case than you would get". I paid over 15K in premiums and they laughed all the way to the bank. I dont finance anything, and carry the minimum insurance on my autos as prescribed by law. My step son hit a fire truck while driving down I 40. The truck was partially in the road, no cones, no flares, rainy and foggy. His insurance settled with the fire station, leaving him owing almost 100K. Check your policy they can do that. Insurance is a false sense of security. | ||
| Charles M. Robinson New member Username: F15epilot Post Number: 76 Registered: 02-2004 |
I'll try and be fair with this. When I was active duty and for the five years since retirement, I have always requested the military endorsement forms with my renewals to allow landing at military bases. I have had Falcon/Global Aerospace (through EAA) since my bird's first flight in 2004. I renewed again last July, requesting the forms. The package arrived a week later, along with said endorsed forms. September 17th, we came home from vacation to find a registered letter at the post office from Global. That letter said my policy was cancelled due to non-payment of premiums? Confused, I called Falcon. They said that there was a $25 charge for the military forms overdue for two months, hence the cancellation. I responded that the invoice with the policy said, "Paid in full" and there was never a mention of that charge. To this, the agent responded that the charge was valid and I had to pay it, adding that Falcon had gone to great lengths to 'grandfather' my Express with Global Aerospace, and that were I to cancel the policy, I would not likely be able to get another through them. Feeling a bit strong-armed, and since I was in the middle of my first-year law school "Contracts" class (using up some VA benefits), and having just done a homework problem with similar circumstances, I asked for a second opinion. After a few minutes, they said that I could mail back the forms and they would eliminate the $25 "overdue" charge. I said they would be mailed that afternoon. After the call, I remembered an offer in the mail from Great Lakes Aviation to insure my bird. I called Great Lakes, and got a prompt call back from the agent in a few minutes. They provided a quote within an hour, and after agreeing to terms, emailed a binder a couple hours later; and they were significantly less expensive for the same coverage. I called Falcon back and requested my policy be cancelled effective on the 20th to ensure no lapse. Falcon again said it was a one-way door and cautioned I'd likely not get insurance elsewhere. I responded that I appreciated the concern, but given the significant price difference and in this instance, more reasonable service, I would take my chances. I filled out Falcon's cancellation form and mailed it to them that weekend (Sep 22nd +/-). They said they would process a pro-rated refund of my premium upon receipt. Then the fun really started. I got another registered letter from Global the next week saying the insurance was reinstated. The next week I got another saying the policy was to be cancelled Nov 21st for non-payment of premium. After a month with no refund from Falcon, I called. They said they were working the refund and would get it to me soon. Well...'soon' turned out to take 21 more days and two more calls. To their credit, it was pro-rated back to Sept 20th. Still, almost two months is a bit long. So...if you are with Falcon/Global, should you cancel (assuming the agent was accurate, which I'm sure he was), then Global will not re-issue coverage to you. If you want another quote, give Great Lakes Marine and Aviation (Gaylor Insurance) a call. Worked for me. | ||
| Bruce Whetstone New member Username: Bwhetstone Post Number: 9 Registered: 07-2005 |
First of all a correction to my post... Falcon said 300 hours (not 400), in case anyone from EAA actually reads this board and decides to take exception. My bad. Jimmie, I hear what you're saying, but I can't park my plane at the nearest metro airport without at least carrying $1 million liability insurance, and naming the airport as an "other insured." Yes, I could save some money on hull coverage, but based upon what I've got in my Express, and compared to the difference between liability only vs. hull, it would take me over 60 years to pay for the plane. And my biggest concern is a fire in an adjacent hangar that takes mine with it. Not all that likely, but that's why insurance exists. Charles, Thanks for the info. I appreciate the lead on another source, and the interesting story that went with it. I am happy I posted on this topic. Would like to hear from anyone who is finishing a project, only to run into issues getting insurance. |