Hal,
You didn’t say what company you had contacted, but if you haven’t,
you should talk to SkySmith.
He can certainly tell you what would be required to get you insured in
the Legacy if it is possible.
If it is not possible, he can tell you that as well.
Bill B
From: Lancair Mailing List [mailto:lml@lancaironline.net] On Behalf Of hal-ed
Sent: Wednesday, July 02, 2008
12:42 PM
To: lml@lancaironline.net
Subject: [LML] Legacy insurance
Evening All,
I'm not sure how wide the appeal for the question
might be, but I'm certain that for various reasons, the answers to these
questions could become general interest at some point.
I’ve recently signed the purchase agreement for
a Legacy kit, and have been looking at the future insurability for the day when
the baby will fly under its own power—a year or two down the road, I
expect. So far I’ve spoken with one company that represents four
underwriters. They’ve been vey friendly and helpful, but the bottom
line is that two of the underwriters won’t quote any Legacy and the other
two would decline to quote “me” in a Legacy.
I’m partially to blame for this, of course,
since I had a reportable accident this year in my certified bird that resulted
in the total loss of the aircraft, and very nearly myself. It was
actually this accident, and the hours of parsing my logbooks for the FAA, NTSB
and the insurance company reports (while lying in a hospital bed) that
highlighted my normal mission profile and led me to the Legacy as more closely
aligned with the way I was actually using my aircraft.
So, here’s the question(s)… I
expected to pay more following the accident, I didn’t expect the
underwriters to decline to even quote me. Is there a time, an industry
formalized period, where one is blacklisted following a claim, and if so, how
long does that last? Do you know of other companies and underwriters
that, while taking a claims history in to account, might not be as shy about
providing a quote?
Regards,
Hal