Best Insurance Carrier (Underwriter) for Senior Pilots?

Pinecone said:
What regulations? You imply that people are doing something wrong, but how can they if there is no requirement for insurance????
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If you want to call it insurance and not be full of crap, you have to follow the regulations for insurance. Not having insurance is not self insurance, it’s not having insurance.
 
What regulation regulates this for aircraft?

You keep saying there is one.
 
Show me the regulation that regulates aircraft self insurance.
 
How about insurance in blackjack?
 
Generally speaking, insurance means evidence of financial responsibility. If you don't want to buy a policy, in some states you can post a bond in excess of a certain limit in lieu of insurance coverage.

Getting insurance is usually cheaper.
 
I'm almost 74,and still use Avemco.
Of course my plane is 75 years old, no electrical system, and the reality is that the only thing worth anything is the low time C-85-8 hung on the front of it.
Which make my insurance $1,200.00 a year for full coverage for everything.
I also make sure I do Wings credit every year to get the discount.
 
Salty said:
Self insurance means dedicating millions set aside in special accounts to pay any liabilities.
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That's not necessarily accurate. In California, to be self-insured for automotive liability, you merely have to convince a bond and surety company that you have sufficient assets to satisfy the required claim amount. There's no dedication of assets or set aside required... just a demonstration of net worth. The bond company charges you about 1% of that amount annually for guaranteeing to the state that you'll come through when required. If you've got, say, $10 million in assets, and the required coverage is $60,000... the bond issuer is pretty confident they can derive at least $60,000 in value from your $10 million in assets even if you aren't cooperative for some reason.
 
PaulMillner said:
That's not necessarily accurate. In California, to be self-insured for automotive liability, you merely have to convince a bond and surety company that you have sufficient assets to satisfy the required claim amount. There's no dedication of assets or set aside required... just a demonstration of net worth. The bond company charges you about 1% of that amount annually for guaranteeing to the state that you'll come through when required. If you've got, say, $10 million in assets, and the required coverage is $60,000... the bond issuer is pretty confident they can derive at least $60,000 in value from your $10 million in assets even if you aren't cooperative for some reason.
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That's still a far cry from doing nothing and calling it "self insurance".
 
farmrjohn said:
Thanks for the replies. Political/philosophical discussions aside, does anyone have direct specific knowledge of which carriers insure older pilots and when or what restrictions they place on their coverage? For example after a specific age: annual FAA physicals vs. Basic Med, annual flight review, must be accompanied by a CFI etc.
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I don’t think there is anything specific. It is up to each underwriter, and you usually don’t find out the restrictions until you look to renew or get a quote.
 
We had a partner in that age bracket and found ourselves in a situation where we needed to change companies (as our insurer dumped its entire book of aviation business). We were unable to get coverage at any price from the usual suspects for a A36TC with 5 partners and one over 70. Avemco had us covered in a few days and the requirements were not particularly onerous. Medical and a annual flight review iirc.
 
Pinecone said:
Because YOU keep stating that it is a violation. But offer no proof.
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There's nothing in the FARs that says the sky is blue or water is wet, either. Salty is making an (obvious) argument of defintion, not what you are legally obligated to do. Just because you aren't required to insure doesn't mean you can call anything you want "insurance". Words have meaning.
 
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Can I self-insure my takeoff performance by following the checklist??
 
I am 76 and to fly my Navajo solo the insurer requires an annual IPC. The insurer is ANPAC and the premium is high, but reasonable. Also any pilot must have at least 2000 hours total, 1000 hours multi, and minimum of a commercial or higher certificate.
 
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