Aircraft Insurance????

Mon Jul 14, 2008 9:49 pm

Does anyone here have ground hull/not in motion insurance? Can you tell me what you are paying? Please PM or e-mail if you don't want to tell the world.

I'm looking to get this for my T-6 project and want to make sure I'm not getting taken advantage of.

Are there any rules of thumb for insurance coverage costs, for instance X% per dollar of value?

I'm in the US, but it might also be interesting to know what folks pay in other countries

Thanx!

Tue Jul 15, 2008 7:01 am

PM sent.

Tue Jul 15, 2008 7:37 am

You should give Ladd Gardner a call and see what he says:
http://www.laddgardner.com/

Tue Jul 15, 2008 9:05 am

How does Ladd compare to the other well known insurance companies that cater to warbird pilots/owners?

Tue Jul 15, 2008 9:15 am

On Ladd or any other agency, they are just that, an agency. If I recall correctly there are only about 3 or 8 insurance companies that actually underwrite policies. The market is rather limited. Then it comes down to what your agent wants as a commission. I've found on simple things, prices are about the same, on more expensive, unique insurance it can vary.

Off the subject, but its about impossible to get more than $100k a seat insurance on most "light" aircraft anymore. Insurance used to have a built in component that they would defend the claim and that way you wouldn't have to pay for a lawyer. Now they are more likely to step in and pay policy limits, take their "good hands" and leave............

Mark H

Tue Jul 15, 2008 10:55 am

P51Mstg wrote:If I recall correctly there are only about 3 or 8 insurance companies that actually underwrite policies.

My understanding from being at NWOC several years ago is that there were only *TWO* under writers for warbirds.

Tue Jul 15, 2008 12:24 pm

Once you get a quote from an agent, you are locked out from getting another quote with a different agent from the same underwriter so be sure you get recommendations from satisfied customers first. (In other words, if Ladd gets a quote from AIG for you, Wenk won't be able to get a quote from AIG for you.) For my plane, only AIG will underwrite it anymore.

P51Mstg wrote:On Ladd or any other agency, they are just that, an agency. If I recall correctly there are only about 3 or 8 insurance companies that actually underwrite policies. The market is rather limited. Then it comes down to what your agent wants as a commission. I've found on simple things, prices are about the same, on more expensive, unique insurance it can vary.

Mark H