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dave.saylor.aircrafters(a
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PostPosted: Sat Jul 27, 2013 8:18 am    Post subject: Insurance Reply with quote

Regarding self insurance:
If (IF) you could get 6000 RV owners all moving in the same direction, that's 500 applications per month to collect, input, store, verify, etc...geez, I hate just filling out my own once a year!  Sounds like a LOT of work, a lot of individuals to corral, checks to process, files to keep, etc. Plus claims, accounts, IT--the list goes on.  It'd be at least one full time job.  My broker has several long term and well-trained people on staff.  I just don't think it would be a simple, or even worthwhile, proposition.


But--has anyone approached their broker about a group buy?  Maybe we could get 20 or 30 buyers to pull the trigger all at once.  Of course the brokers pocket some of the premium--that's how they make their living--but if a group could make the broker's job a little easier some how, maybe they'd lower their cut enough to make a difference.
Dave Saylor
831-750-0284 CL

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rv10flyer



Joined: 25 Aug 2009
Posts: 364

PostPosted: Sat Jul 27, 2013 9:53 pm    Post subject: Re: Insurance Reply with quote

Don't forget that credit scores affect our insurance premiums too. Being debt free at 38 does have some benefits.

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Tim Olson



Joined: 25 Jan 2007
Posts: 2881

PostPosted: Sun Jul 28, 2013 4:27 am    Post subject: Insurance Reply with quote

Actually I was warned (after I was 100% debt free) that NOT having an active home loan was likely going to LOWER my credit score, and that having a track record of paying steadily on a mortgage was actually a key thing to having a high credit score. Also, I had a friend and boss who had far more money, stocks, income, and things than me that had an issue with his car insurance premium going up AFTER he paid his house off for that exact reason....there was no active loan. So to some extent, a small amount of debt can actually boost your credit rating just because there is something that is able to be tracked so that people know you're reliable. Its a very odd twist to the whole insurance/credit thing.
Tim

On Jul 28, 2013, at 12:53 AM, "rv10flyer" <wayne.gillispie(at)gmail.com> wrote:

Quote:


Don't forget that credit scores affect our insurance premiums too. Being debt free at 38 does have some benefits.

--------
Wayne G.
SB 12/01/2009-12/01/2011
TT= 103




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rv10rob(at)gmail.com
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PostPosted: Mon Jul 29, 2013 9:11 am    Post subject: Insurance Reply with quote

Is there anyone that does smooth $1M for experimentals?  I was told no.  My broker found one that would do $200k sublimits, but with a lower maximum hull coverage than I needed.

-Rob

On Fri, Jul 26, 2013 at 1:54 PM, Kelly McMullen <apilot2(at)gmail.com (apilot2(at)gmail.com)> wrote:
Quote:
One factor will be whether you are asking for a 1M smooth policy or 1M with sublimits of either 250K or 100K. The sublimits usually are 200-300 cheaper, but also provide less coverage.



On Fri, Jul 26, 2013 at 1:39 PM, Marcus Cooper <cooprv7(at)yahoo.com (cooprv7(at)yahoo.com)> wrote:
Quote:
--> RV10-List message posted by: Marcus Cooper <cooprv7(at)yahoo.com (cooprv7(at)yahoo.com)>

There was a thread about this time last year with two inputs of under $1800 for coverage on their RV-10s, one with Falcon and another with Williamsburg National.  I just got my renewal charging $2325 for $140,000 (about the same as last year with no deductible, 1M liability, 10K/person medical) with Falcon and tried another broker who couldn't do any better.  Just curious what folks are seeing this year.  I max out the experience category both in the RV-10 and overall with no losses and the airplane is hangared so I'm dubious as to why the rates are $600 more.

Any current rates and sources with similar coverage would be appreciated,
Marcus
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Rob Kochman
RV-10 Flying since March 2011
Woodinville, WA
http://kochman.net/N819K

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rv10rob(at)gmail.com
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PostPosted: Mon Jul 29, 2013 9:23 am    Post subject: Insurance Reply with quote

I'm paying $3070 this year for $200k hull. I have private+instrument w/ 400 TT and 180 in type.

Interesting story.  This year my rates were going to go up, so I contacted another agent for quotes--I knew they'd get the same quotes from the same underwriters, but figured I had nothing to lose and maybe they shopped a few other underwriters.  It turns out I got a quote almost $600 cheaper from the same underwriter.  I went back and made sure I gave the same info on the application form to both agents, which I did.  It turns out whoever did my second quote at the underwriter's office didn't see my first quote in the system, so mistakenly did a new quote and came out way cheaper.    I guess that underscores how manual and imprecise this process is.  Of course, my old agent was very unhappy with the underwriter.


-Rob
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On Fri, Jul 26, 2013 at 1:39 PM, Marcus Cooper <cooprv7(at)yahoo.com (cooprv7(at)yahoo.com)> wrote:
Quote:
--> RV10-List message posted by: Marcus Cooper <cooprv7(at)yahoo.com (cooprv7(at)yahoo.com)>

There was a thread about this time last year with two inputs of under $1800 for coverage on their RV-10s, one with Falcon and another with Williamsburg National.  I just got my renewal charging $2325 for $140,000 (about the same as last year with no deductible, 1M liability, 10K/person medical) with Falcon and tried another broker who couldn't do any better.  Just curious what folks are seeing this year.  I max out the experience category both in the RV-10 and overall with no losses and the airplane is hangared so I'm dubious as to why the rates are $600 more.

Any current rates and sources with similar coverage would be appreciated,
Marcus
do not archive

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arget="_blank">http://www.matronics.com/Navigator?RV10-List
===========
http://forums.matronics.com
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le, List Admin.
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--
Rob Kochman
RV-10 Flying since March 2011
Woodinville, WA
http://kochman.net/N819K

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