The nice thing about aviation insurance is that you T's "stated value". There's no haggling over depreciation and value at the time of a claim. You cover your it for $70k, they pay $70k with no adjustment for ACV.
What will insurance pay for
- Thread starter Subsea
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The nice thing about aviation insurance is that you T's "stated value". There's no haggling over depreciation and value at the time of a claim. You cover your it for $70k, they pay $70k with no adjustment for ACV.
James331
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James331
Outside of new aircraft I havent seen much depreciation, heck some hedge inflation.
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Not unlike a 30 year old car. Unfortunately it's difficult to get a stated value policy on cars (Haggerty sells it) and usually at the time you total it is when the value gets established which can be protracted affair to negotiate if you don't want to accept their offer.
asechrest
En-Route
Chubb will do stated value standard auto, but you're gonna pay for it. Real nice policy, though.
Good to know, I have found Haggerty's stated value rates to be pretty reasonable, only worked out to under $100yr difference, and most people get considerably less than they were expecting on an ACV policy.
Jimmy cooper
En-Route
If you can't afford proper insurance to protect you and your airplane, not to mention passengers, you'd probably be better off just buying a Honda civic and driving it around. This also goes for a decent hangar. Leaving a nice aircraft outside is a losing proposition. I am always susceptible to a stupid mistake therefore I've always gotten excellent coverage to protect myself, aircraft, savings, etc.
asechrest
En-Route
I only know Haggerty as a classic car insurer, but they are definitely good at that niche.
