Don't let your insurance expire

Ouch.

I'm not criticizing the pilots decision, everyone walked away.... could not have ended better. But power lines rarely cross the interstate and if they do it is high tension transmission lines that are fairly easy to see..... look for towers, not the lines.

What would you have done?
 
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Is anyone releasing the name of the insurance company. I know that some companies advertise heartily that they will not do that. It is about a three week process wiht the paperwork with my insurance company but I have plenty of reminders set to make sure I do not forget to get all the paperwork in to them on time and have follow up e-mails and letters stating that my coverage is current.

Too bad for the pilot on this one.
 
tmyers said:
I know that some companies advertise heartily that they will not do that.
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I wonder if you can tell us the names of those insurance companies which will cover a loss suffered after the policy expires. I'm sure many of us would like to insure with them and save some money.
 
Geico266 said:
I'm not criticizing the pilots decision, everyone walked away.... could not have ended better. But power lines rarely cross the interstate and if they do it is high tension transmission lines that are fairly easy to see..... look for towers, not the lines.
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Towers, power lines, telephone poles, road signs (especially the ones over the road), you name it -- lots of stuff to turn it into a flaming disaster. I think you'll find most advice is to avoid roads unless you are certain they are clear of obstructions. There's also the X-factor of what drivers will do. The classic was a case where someone made a perfect landing between cars -- until the driver of the car in front saw a plane in the rear view mirror and slammed on his brakes.
 
I just remember reading propaganda on the AOPA site for AVEMCO I think about grace periods for lapses in BRF and other such items.

No coverage exclusion just because an annual, medical, or flight review accidentally expires midterm. (copied from AVEMCO's website)
 
Not sure about aircraft companies, but on my auto and house, I have been told by multiple Allstate agents that coverage does not lapse until at least a few weeks after the premium was due.
 
tmyers said:
I just remember reading propaganda on the AOPA site for AVEMCO I think about grace periods for lapses in BRF and other such items.

No coverage exclusion just because an annual, medical, or flight review accidentally expires midterm. (copied from AVEMCO's website)
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Not at all the same thing as having the policy itself expire, which is what happened in the case under discussion.
 
Traket92X said:
Not sure about aircraft companies, but on my auto and house, I have been told by multiple Allstate agents that coverage does not lapse until at least a few weeks after the premium was due.
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I'd want to get that one in writing. I suspect that is not true unless you have already filed for renewal, and they're just waiting for payment.
 
OK, I stand corrected, I will go sit in a corner for 20 minutes. I thought we were conversing here not testifying.
 
tmyers said:
OK, I stand corrected, I will go sit in a corner for 20 minutes. I thought we were conversing here not testifying.
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No need to get offended -- this is business, not personal. I'd just hate to see someone get hosed because they thought there was some sort of grace period after their aircraft insurance policy expiration.
 
Ron Levy said:
I'd want to get that one in writing. I suspect that is not true unless you have already filed for renewal, and they're just waiting for payment.
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I suppose in the auto/house case, they attempt to auto-renew so it might not be similar to aircraft.
 
Geico266 said:
I think the 30 days prior to expiration date is the grace period. ;)
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Not according to the agents. Since one of them was my father-in-law and I was insuring the vehicle he gave us, I'll take his word on it;)
 
tmyers said:
I just remember reading propaganda on the AOPA site for AVEMCO I think about grace periods for lapses in BRF and other such items.

No coverage exclusion just because an annual, medical, or flight review accidentally expires midterm. (copied from AVEMCO's website)
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No exclusions there for premiums.
 
What made the idiot even get in the plane that afternoon knowing it was not insured? He should have left it in the hangar until he took care of business.

He gets what he deserves.
 
Agents are typically very specific about "binding coverage" as the issuance or renewal of coverage progresses through the various stages of negotiation and paperwork.

But the expiration date printed on the policy typically means what it says.
 
It only requires a phone call to bind coverage with most insurance, but you do have to call.

The first response from my insurance adjuster was to state they had reviewed the policy and it was in full effect and would cover damages. So I drew the conclusion that the first thing they do is to see if the policy is good, and you are paid up.

Then came the questionnaire to be filled out and sent back.
 
Ron Levy said:
I wonder if you can tell us the names of those insurance companies which will cover a loss suffered after the policy expires. I'm sure many of us would like to insure with them and save some money.
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:yeahthat:
 
Traket92X said:
Not sure about aircraft companies, but on my auto and house, I have been told by multiple Allstate agents that coverage does not lapse until at least a few weeks after the premium was due.
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Payment due date and policy expiration usually occur on different dates
 
And the call must be answered and coverage confirmed, rather than by leaving a message.

Tom-D said:
It only requires a phone call to bind coverage with most insurance, but you do have to call.

The first response from my insurance adjuster was to state they had reviewed the policy and it was in full effect and would cover damages. So I drew the conclusion that the first thing they do is to see if the policy is good, and you are paid up.

Then came the questionnaire to be filled out and sent back.
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wabower said:
And the call must be answered and coverage confirmed, rather than by leaving a message.
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I usually give my agent a e-mail, they return it with cost ##s and we send them a electronic money transfer.

and we get a policy in the mail. with paper work to sign and return.

But you can't wait until the day after the accident to do that.
 
Ron Levy said:
I wonder if you can tell us the names of those insurance companies which will cover a loss suffered after the policy expires. I'm sure many of us would like to insure with them and save some money.
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Obamacare
 
tmyers said:
No coverage exclusion just because an annual, medical, or flight review accidentally expires midterm. (copied from AVEMCO's website)
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I'm surprised they offer something like this. We pay a significant extra amount for "breach of contract" coverage to get this sort of thing, and it carries a 10% deductible if employed -- which required us to recalculate hull value coverages to not be caught by the short hairs...
 
Geico266 said:
I think the 30 days prior to expiration date is the grace period. ;)
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Traket92X said:
Not according to the agents. Since one of them was my father-in-law and I was insuring the vehicle he gave us, I'll take his word on it;)
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Ask your FIL if paying 30 days prior to the expiration date would keep the insurance in "full force and effect". I'll bet you would be surprised by the answer. ;)

I'm not called GEICO for nothing. :lol:
 
Geico266 said:
Ask your FIL if paying 30 days prior to the expiration date would keep the insurance in "full force and effect". I'll bet you would be surprised by the answer. ;)

I'm not called GEICO for nothing. :lol:
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Response I got:

"If he has a six month policy, it would. They even have a grace period after the thirty days with most companies"

I'm guess you have a story behind your question....Let's here it:goofy:
 
Tom-D said:
It only requires a phone call to bind coverage with most insurance, but you do have to call.

The first response from my insurance adjuster was to state they had reviewed the policy and it was in full effect and would cover damages. So I drew the conclusion that the first thing they do is to see if the policy is good, and you are paid up.

Then came the questionnaire to be filled out and sent back.
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That is indeed the first thing checked.
 
Ron Levy said:
No need to get offended -- this is business, not personal. I'd just hate to see someone get hosed because they thought there was some sort of grace period after their aircraft insurance policy expiration.
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Not to worry Ron, I am not offended. I agree with you that I always want something in writing. My conversation on the phone doesn't mean much if I am taking a dirt nap after the accident.
 
Damage would have been ALOT less if he used flaps for the landing:yes::rolleyes:....

Word on the street is the LDS community has felt sorry for the idiot and he has gotten donations for his stupidity a couple of times greater then his loss.. What a clever scam...:rolleyes2::mad2:
 
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