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Mark Cook
 Post subject: Warbird Insurance
PostPosted: Fri Oct 12, 2007 10:29 pm 
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Is anyone else getting ridiculous renewal quotes on their insurance?
We've just received a couple really high-ball figures.
I just wanted to check to see if anyone else has heard that rates are going to increase astronomically.
Thanks,
Mark

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P51Mstg
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PostPosted: Fri Oct 12, 2007 10:38 pm 
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The high quotes started right after 9/11. That was when it was time to get rid of the hull insurance.

How rediculious in relation to last years are they (%% Increase?)

Mark H
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Mark Cook
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PostPosted: Sat Oct 13, 2007 12:54 am 
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Hi Mark,
We jumped from 4500 to 27k for a c-47.
Perhaps we're barking up the wrong tree
Thanks,
Mark

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daveymac82c
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PostPosted: Sat Oct 13, 2007 2:51 pm 
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Mark,

as much as I am not responsible for insuring our air museum's airplanes and am not totally aware of what insurance prices should be at, what you mentioned as one of your quotes sounds absolutely ridiculous.

Insurance companies, from what I understand, are evil. They can honestly charge as much as they want because there are going to be some people willing to pay it. And for us, if we're wanting to fly our planes, we're going to have to pay it, or give up.

Aircraft insurance is BS in my opinion. Oops... sorry for the rant.

Cheers,

David
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Randy Haskin
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PostPosted: Sun Oct 14, 2007 12:06 am 
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As there are only two under-writers who cover warbirds, the market is pretty small. When warbird accidents happen, it's one of those TWO under-writers who is likely covering the loss.

I'm not an actuary by any means, but I'd have to wonder if the accidents this summer had something to do with premiums going up.
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Tim Savage
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PostPosted: Sun Oct 14, 2007 7:42 am 
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Mark Cook wrote:
Hi Mark,
We jumped from 4500 to 27k for a c-47.
Perhaps we're barking up the wrong tree
Thanks,
Mark


You were getting C-47 insurance for $4500??? That amazes me. I thought about buying one a few years ago (probably at least three) and I got an insurance quote. It was 25k then, and from my experience my other warbird insurance has gone down. Has your operation of the airplane changed? Are you covering more seats?
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hang the expense
 Post subject: insurance
PostPosted: Sun Oct 14, 2007 6:52 pm 
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Holy sh*t.Wonder what it will be for an Invader? Any ideas? :shock:

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Tim Savage
 Post subject: Re: insurance
PostPosted: Sun Oct 14, 2007 7:20 pm 
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hang the expense wrote:
Holy sh*t.Wonder what it will be for an Invader? Any ideas? :shock:


Probably less. Our B-25 insurance was less than half of the C-47 insurance we were quoted...not as many seats. I think the insurance companies get concerned about the large passenger capacity of the DC-3/C-47.
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T2 Ernie
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PostPosted: Sun Oct 14, 2007 7:43 pm 
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How are you operating the plane?

Is that hull-only or liability too?

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EDowning
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PostPosted: Wed Oct 24, 2007 12:02 am 
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Got my 2008 quote today. For the AD5 (6 SEATS insured), AT-6 and the Yale, hull and liability, same limits as last year, went down 13.2%. :D

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warbird1
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PostPosted: Wed Oct 24, 2007 12:37 am 
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How does warbird insurance work in relation to the pilot's experience? I know that obviously the pilot has to have a certain minimum of hours, be experienced and checked out in the aircraft. Is there a certain threshold or number after which your insurance does NOT decrease or go up as much? In other words, does warbird insurance continue to fall or go up less the more hours a pilot gets in type, or is there a certain point after which it doesn't matter how much experience/hours the pilot gets?
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FG1D Pilot
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PostPosted: Wed Oct 24, 2007 1:51 pm 
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I've been using Greg Hiser with Air Capital and he does some great work. He drastically reduced our premium for the fleet. He is one of the owners of the company and I bet he can out do just about anyone in the warbird market. His service and staff are great and don't make you feel like you're dealing with the IRS. Tell him I sent you :wink: . 877 224 0967.

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Warbird Kid
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PostPosted: Wed Oct 24, 2007 5:47 pm 
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Even though right now I have a snowball's chance in hell to own and operate own of these birds, I still find this portion of WIX interesting, and important.


I only hope I'll actually have a reason to be concerned about these numbers in the future. (Yea, like me winning the lottery!)

Sigh: One day....

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