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