FLYER Forums

I have asked my insurance broker whether there is any chance of a premium reduction as I shan't be airborne for a time, I've not heard back as yet.

Anyone else tried and had any luck?

db

Can’t you just downgrade it to ground risk only and get a partial refund? I’m pretty sure that VisiCover do this.

I just had to renew the TB insurance so went for ground-risks only until flying is again permitted, whereupon, I'll upgrade to flying insurance. You can obviously cancel insurance mid-flow, but I could imagine a certain reticence on the part of the insurance companies to downgrade mid-flow in the present circumstances, as it may start a rush on people doing so.

Iceman

You may have the right to cancel or downgrade your policy, but there are likely to be short term cancellation provisions in the policy which means that you will not get back your premium pro rata or may not be worth your while.

On the other hand, after a year with significantly lower GA losses as noone is flying and with insurers keen to get some income in their books after what is a pretty dire market at the moment - premiums may (although larger factors at work could push towards the opposite) come down.

:Rofl:

Unless they perceive a higher risk from lack of currency?

KE

'most' traditional aircraft cover do not allow for downgrades to GRO mid term …. Beta aviation have a laid up condition for example - but will only allow a refund on renewal as a credit against other costs .

For commercial guys the list of requests to ground stuff has been flowing in , but as Lloyds aren't working how they normally would insurers are very slow to respond & are doing changes as 'gestures' where they contractually don't have to offer it .

The safest place for most aircraft is 10,000 ft + ! All sorts of stupid things happen on the ground ….

My local @ Bournemouth is now a parking apron for BA - which raises other risks - having all the aircraft in one place is not normal. so the combined risk of all the aircraft in one place increases - for example flooding/ an idiot driving in to them / malicious damage etc ….impacts 48 aircraft instead of one ….

Not as simple as it seems when you think into it …...

Due to water logging I haven't flown since mid-Sept 2019.

I asked to go on Ground Cover from last week and my broker has helpfully put a request to backdate to then to Underwriters. I sent a copy of my logbook to confirm.

Be aware that a few underwriters and their associated insurance companies are in some cases not allowing ground risk straight away, one is not allowing it until renewal sticking to their own T&Cs. Think they are looking at their own accounts!

I realise insurance cover in Kenya is probably different from the UK, but we've just gone onto Ground Cover only with our C182, coinciding with a renewal, which saves a considerable premium (over 2/3), though Kenya isn't in clampdown yet.

Some items might be of interest:

1) Whether engine runs are permitted (OK, I know two sides to that, but inhibiting isn't appealing), and/or taxying allowed.

2) 3rd Party risks in place? Knocking into another aircraft while towing out of the hangar.

3) War Risks? Sounds unlikely. Besides the obvious (riots, terrorists etc.) in our case also covers malicious damage. There was one instance with a disgruntled employee who dumped sugar in fuel tanks, which came under that category (at least, with our insurers).

4) Loss of No Claims Bonus? We lose ours by not continuing with the same cover on renewal, which is painful.

I'd be interested in what UK insurers are offering.

My insurer has agreed to let me drop to GRO, as has the insurer of our two Club aircraft. Some strings attached (no refund now, wait until I can resume flying and get a refund (or was it a credit?) then, and no refund of the grounding turns out to be less than a month (I wish!) . Certainly nothing to loose by asking. We also had a Club aircraft on GRO for about 6 months while a serious engine issue was being fixed. While the aircraft is not flying, provided it is in a secure location, etc, the risks of significant claims are much less than while it is being flown so it is very reasonable to expect the insurer to reduce the charge for the grounded period. (Just as in the opposite situation, where you wanted to make a change to increase the financial risk level (set up a higher liability level, add a less-experienced pilot, undertake more hazardous operations) you would expect to have to make an additional payment for the additional cover.)

TheFarmer wrote:Can’t you just downgrade it to ground risk only and get a partial refund? I’m pretty sure that VisiCover do this.

You can indeed, Bob did this for me last week. I have already received a refund and can reinstate full cover myself online, as and when. Excellent service from Visi.

Robin500 wrote:

TheFarmer wrote:Can’t you just downgrade it to ground risk only and get a partial refund? I’m pretty sure that VisiCover do this.

You can indeed, Bob did this for me last week. I have already received a refund and can reinstate full cover myself online, as and when. Excellent service from Visi.

@Robin500
I tried to change mine online to ground cover only with VisiCover, but it wouldn't allow me to change it, how did you do it ?

@Lockhaven I did it a couple of years back for technical issues and had to contact the office. If memory serves the refund was such that anything less than 6 weeks ground cover did not result in a saving. IE the cost of reinstating the flight cover in anything up to 6 weeks made the annual cost greater than leaving it alone.

Lockhaven wrote:

Robin500 wrote:

TheFarmer wrote:Can’t you just downgrade it to ground risk only and get a partial refund? I’m pretty sure that VisiCover do this.

You can indeed, Bob did this for me last week. I have already received a refund and can reinstate full cover myself online, as and when. Excellent service from Visi.

@Robin500
I tried to change mine online to ground cover only with VisiCover, but it wouldn't allow me to change it, how did you do it ?

It can't be done via the website, I emailed them and Bob implemented for me via emails. It can be reinstated back to flight cover via the website, though.

I've not heard from my insurer since asking the question, I have just emailed them a nudge. As visicover seem a bit more ready to listen and act I'll be giving them consideration at renewal time.

db